Business ethicists claim that the recent spate of business leaders, especially bankers, who have admitted to unethical behavior, is not surprising.
In fact, these experts explain that this is due to a lack of moral principles and standards among business leaders that prioritize profit over ethics and social responsibility. This, in turn, leads to a culture of greed and misconduct within the industry.
Business ethicists claim that the recent spate of business leaders, especially bankers, who have admitted to unethical behavior, is not surprising. In fact, these experts explain that this is due to a lack of moral principles and standards among business leaders that prioritize profit over ethics and social responsibility.
This, in turn, leads to a culture of greed and misconduct within the industry.Business leaders are more focused on profit than ethics, and their greed can lead them to engage in unethical behavior.
As a result, business ethicists argue that it is not surprising that so many business leaders have been caught engaging in misconduct, as they are operating within a culture that prioritizes profit over all else, including ethical behavior and social responsibility.
The challenge is to instill a sense of morality and social responsibility in business leaders, so that they can prioritize ethics and social responsibility over profit. Only then can we hope to build a more just and equitable society.
To know more about social responsibility click on below link:
https://brainly.com/question/13528806#
#SPJ11
Which of the following would not be generally effective upon receipt? (Choose all of the correct answers.) A rejection of an offer A counter-offer An acceptance of an offer with minor changes An offer which is conditions its acceptance to be upon receipt An acceptance of an offer Which of the following would be generally effective upon receipt? (Choose all of the correct answers.) Making of an offer
Rejection of an offer Acceptance of an offer Revocation of an offer Acceptance of an offer with minor changes
In general, a rejection of an offer and a revocation of an offer would not be effective upon receipt.
The offeror would have to receive the rejection or revocation in order for it to be effective. On the other hand, making an offer, acceptance of an offer, and acceptance of an offer with minor changes would generally be effective upon receipt. The conditions that the acceptance of an offer is conditioned upon receipt would also be effective upon receipt since the condition is part of the acceptance. A counter-offer, however, would not be effective upon receipt since it is not a clear acceptance or rejection of the original offer, but a new offer altogether. offeror would have to receive the rejection or revocation in order for it to be effective. On the other hand, making an offer, acceptance of an offer, and acceptance of an offer with minor changes would generally be effective upon receipt. The conditions that the acceptance of an offer is conditioned upon receipt would also be effective upon receipt since the condition is part of the acceptance.
To know more about revocation visit:
https://brainly.com/question/30160596
#SPJ11
(2) You've read in chapter 2 about the various Western European powers - the Spanish, French, Dutch, and English - attempting to establish colonial empires in the Americas.
Now, write for 15 minutes, for AT LEAST 250 words, imagine you are a Native American Indian. From your perspective, which of these European powers would be the best to encounter? Which would be the worst? DESCRIBE the Spanish, French, Dutch, and English encounters on your land. What are your thoughts about how these newly established relationships are unfolding with this particular group of Europeans who are colonizing your area?
From the perspective of a Native American Indian, the Dutch would be the best European power to encounter due to their relatively peaceful and fair interactions. On the other hand, the Spanish would be the worst due to their aggressive colonization methods and mistreatment of indigenous populations. The French and English encounters fall somewhere in between, with the French showing some respect for Native American culture but still asserting their dominance, while the English exhibit a mix of cooperation and conflict.
As a Native American Indian, the encounter with the Dutch would be the most favorable. The Dutch approach colonization with a focus on trade and cooperation rather than forceful conquest. They establish mutually beneficial relationships with Native American tribes, engaging in fair trade practices and respecting indigenous cultures to some extent.
The Dutch prioritize economic exchange and maintain relatively peaceful interactions with Native Americans.
Conversely, the Spanish encounter would be the worst. The Spanish colonization of the Americas is marked by a history of violence, exploitation, and forced labor.
They bring diseases that devastate Native American populations, and their quest for gold and power leads to the enslavement and mistreatment of indigenous people. The Spanish aim to dominate and control the land, disregarding the rights and well-being of Native Americans.
The French and English encounters fall in between these extremes. The French exhibit some level of respect for Native American cultures and form alliances with certain tribes for economic and military purposes.
However, they still assert their dominance and influence over indigenous lands. The English initially establish cooperative relationships with Native American tribes, engaging in trade and forming alliances. However, conflicts arise as English settlements expand and encroach upon Native American territories, leading to tensions and violence.
Overall, the encounters with European powers bring about complex and varied experiences for Native American Indians. While the Dutch offer more peaceful and fair interactions, the Spanish represent the worst encounter due to their brutal colonization methods.
The French and English fall somewhere in between, exhibiting both cooperation and conflict in their interactions with indigenous populations.
Learn more about economic exchange here :
https://brainly.com/question/30511827
#SPJ11
The financial statement amounts for the Atwood Company and the Franz Company as of December 31, 2021, are presented below. Also included are the fair values for Franz Company's net assets (all numbers are in thousands). Cash Receivables Inventory Land Buildings (net) Equipment (net) Accounts payable Accrued expenses Long-term liabilities. Common stock ($20 par) Common stock ($5 par) Additional paid-in capital Retained earnings 1/1/18 Revenues Expenses Atwood Franz Co. Franz Co. Book Value Book Value Fair Value 12/31/2021 12/31/2021 12/31/2021 $ 240 870 $ 240 660 600 600 420 580 260 250 $ 1,230 1,800 1,800 660 (570) (270) 540 380 (240) (60) (2,700) (1,020) (1,980) (210) (1,170) (2,880) 2,760 (420) (180) (480) (660) 620 650 400 (240) (60) (1,120) Note: Parenthesis indicate a credit balance Assume an acquisition business combination took place at December 31, 2021. Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz. Stock issuance costs of $15 (in thousands) and direct costs of $10 (in thousands) were paid. Compute consolidated buildings (net) at the date of the acquisition. Compute consolidated goodwill at the date of the acquisition.
Consolidated Buildings (net): Consolidated Buildings (net) is $4,620. Consolidated Goodwill: Consolidated Goodwill is $600.
Consolidated Buildings (net) are $4,620, as shown below:Atwood Franz Co. Franz Co. Book Value Book Value Fair Value 12/31/2021 12/31/2021 12/31/2021 Buildings (net) 540 400 620 Total 540 400 620The Atwood Company is acquiring all of the outstanding common shares of the Franz Company. This implies that a business combination takes place at December 31, 2021.
Here, Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz. $15 thousand stock issuance costs and $10 thousand direct costs were paid. Compute the consolidated buildings (net) at the date of the acquisition.As of December 31, 2021, the Atwood Company’s buildings had a book value of $540 thousand. The Franz Company’s buildings had a book value of $400 thousand and a fair value of $620 thousand.
Therefore, the buildings’ consolidated buildings (net) of the financial statement at the date of the acquisition are: Atwood’s buildings + Franz’s buildings’ fair value= Consolidated Buildings (net) = $540 thousand + $620 thousand = $1,160 thousand+ Franz’s buildings’ book value= Consolidated Buildings (net) = $1,160 thousand + $400 thousand = $1,560 thousandThe Consolidated Buildings (net) amount to $4,620 thousand.Consolidated Goodwill is $600. The consolidated goodwill computation is: Consideration transferred $ 1,750Fair value of identifiable net assets acquired -1,380Goodwill $ 370The goodwill amount is $370 thousand.
To learn more about financial statement :
https://brainly.com/question/14951563
#SPJ11
How has market changes affected the Mc Donald’s operations strategy ,process design and the Order penetration point (OPP). How has the coordinated strategy options (postpone, reduce, buffer) and demand pooling been used to deal with variation and uncertainty ?
market changes have influenced McDonald's operations strategy, process design, and the Order Penetration Point(OPP). The fast-food chain has adopted new strategies to improve efficiency, quality, and speed of service, including the use of technology and automation.
McDonald's is a well-known fast-food chain that has a long history of success. The organization has had to adjust to various changes in the market over the years to maintain its reputation and position. The influence of market changes on McDonald's operations strategy, process design, and the Order penetration point(OPP) are detailed below
Market Changes and its influence on McDonald's Operations strategy:
McDonald's strategy has been affected by market changes, including the rise of new competitors, changing customer tastes, and economic downturns. The organization has adopted new tactics, such as improving menu options, providing healthier food, and enhancing the restaurant experience, to respond to these shifts. Additionally, the fast-food company has developed several strategies to improve efficiency, quality, and speed of service, including the use of technology and automation.
Market Changes and its influence on McDonald's process design:
McDonald's has transformed its process design in response to changes in the market. For example, the introduction of automation and technology has enabled the company to improve the speed and efficiency of its service. Additionally, the company has implemented an efficient kitchen design, including digital menus and mobile ordering, to improve customer service.
Market Changes and its influence on McDonald's Order Penetration Point (OPP):
The Order Penetration Point(OPP) refers to the point in the supply chain where a customer order is received. McDonald's has adopted various strategies to increase its Order Penetration Point(OPP), such as providing drive-thru services, curbside pickup, and home delivery. This has improved the speed and convenience of service for customers.
Coordinated Strategy Options (Postpone, Reduce, Buffer) and Demand Pooling:
To deal with variation and uncertainty in demand, McDonald's has implemented coordinated strategy options, including postponement, reduction, and buffering. These tactics allow the organization to respond to changes in demand more effectively and efficiently. Additionally, McDonald's has utilized demand pooling to improve forecasting accuracy, reduce inventory, and improve the efficiency of the supply chain.
To know more about strategy visit;
brainly.com/question/31914784
#SPJ11
Given Principal: $14,000, 12%, 240 days Partial payments: On 100th day, $6,400 On 180th day, $3,700 a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
Total interest cost: _____
b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) On 100th day balance _____
On 180th day Balance after the payment $ _____
c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
Final payment $_____
Total interest cost: $316.66, On the 100th day balance:$7,386.67, On the 180th day balance after the payment:$3,686.67 and Final payment- $3,748.67.
a. To calculate the total interest cost using the U.S. Rule, we need to find the interest accrued on each partial payment and sum them up.
Interest on the first partial payment:
$6,400 * 0.12 * (100/360) = $213.33
Interest on the second partial payment:
$3,700 * 0.12 * (80/360) = $103.33
Total interest cost: $213.33 + $103.33 = $316.66
b. To calculate the balances using the U.S. Rule, we start with the principal amount and subtract the partial payments along with the accrued interest.
On the 100th day balance:
$14,000 - $6,400 - $213.33 = $7,386.67
On the 180th day balance after the payment:
$7,386.67 - $3,700 = $3,686.67
c. To calculate the final payment using the U.S. Rule, we start with the remaining balance and add the accrued interest.
Final payment:
$3,686.67 + ($3,686.67 * 0.12 * (60/360)) = $3,748.67
To know more about interest cost refer to-
https://brainly.com/question/31589721
#SPJ11
In a boom period, the creek stock is expected to return 24% and in normal economy, it gives 11% ,and a negative 18% in a recessionary period. The probability of a recession is 10%. There is a 20% chance of a boom economy. The remainder of the time the economy will be at normal levels. What is the standard deviation of the returns on Creek stock?
B) Discuss briefly how can we calculate return on stock, if measure of systematic risk is given.
The return on stock can be calculated by adding the product of the stock's beta and the market risk premium to the risk-free rate.
To calculate the return on stock based on the measure of systematic risk, we can use the Capital Asset Pricing Model (CAPM). CAPM relates the expected return on an investment to its systematic risk, as measured by beta. The formula for calculating the expected return is:
Expected Return = Risk-Free Rate + Beta * (Market Risk Premium)
The risk-free rate represents the return on a risk-free investment, such as government bonds. Beta measures the sensitivity of the stock's returns to market movements. The market risk premium is the excess return investors expect to earn for taking on the systematic risk of the overall market.
By using the stock's beta and the market risk premium, we can estimate the expected return on the stock. This calculation takes into account the systematic risk associated with the stock and provides a measure of the return that compensates for that risk.
Therefore, the CAPM approach allows us to estimate the return on stock by incorporating the stock's beta and the market risk premium. It provides a framework for evaluating the expected return based on the systematic risk associated with the stock and helps investors make informed investment decisions.
To know more about stocks, visit:
https://brainly.com/question/32734274
#SPJ11
Selling price.. $30 Units in beginning inventory.. 300 Units produced.. 1,800 Units sold.... 2,000 Units in ending inventory. 100 Variable costs per unit: Direct materials.. $4 Direct labor. $5 $6 Variable manufacturing overhead......... Variable selling and administrative........ Fixed costs: $1 Fixed manufacturing overhead............ $18,000 Fixed selling and administrative.......... $9,000 Required: 1. Compute the unit product cost under Absorption costing and Variable costing 2. Prepare an absorption costing income statement for September 3. Prepare a contribution format income statement for September using variable costing 4. Reconcile the absorption costing and variable costing net operating incomes in (2) and (3) above Absorption costing income statement, Gross margin is: Choose.. # Absorption costing income statement, Sales is: Choose.. + the unit product cost under Variable costing Choose.. # Variable costing income statement, Contribution margin is: Choose.. + Reconcile the absorption costing and variable costing net operating incomes Choose... # fixed manufacturing overhead cost released from inventory under absorption costing is: ADD/(Deduct) Absorption costing income statement, Net operating income /(loss) is: Choose.. + Variable costing income statement, Net operating income /(loss) is: Choose.. # the unit product cost under Absorption costing Choose...
(1) Total cost per unit: $18 per unit
1. Compute the unit product cost under Absorption costing and Variable costing:
Unit product cost under absorption costing
Direct materials: $4
Direct labor: $5
Variable manufacturing overhead: $6
Fixed manufacturing overhead: ($1 + $18,000 ÷ 1,800) = $11 per unit
Total cost per unit: $26 per unit
Unit product cost under variable costing
Direct materials: $4
Direct labor: $5
Variable manufacturing overhead: $6
Variable selling and administrative: $3
Total cost per unit: $18 per unit
Know more about cost per unit here:
https://brainly.com/question/205480
#SPJ11
Awal company manufactures custom door knobs for international clients. Average Revenue is $35 per unit, variable costs are $20 per unit, and total costs are $250,000. If sales are 10,000 units, what is the firm's breakeven sales quantity? A. 1,750 units B. 2,500 units C. 3,000 units D. 3,333 units
The firm's breakeven sales quantity is 16,667 units. To find the firm's breakeven sales quantity, we need to determine the point at which the total revenue equals the total costs.
Breakeven Quantity = Total Fixed Costs / Contribution Margin per unit
The contribution margin per unit is the difference between the average revenue per unit and the variable cost per unit.
Contribution Margin per unit = Average Revenue per unit - Variable Cost per unit
Contribution Margin per unit = $35 - $20 = $15
Total Fixed Costs are given as $250,000.
Breakeven Quantity = $250,000 / $15 = 16,666.67 units
Since the question asks for the breakeven sales quantity, we round up to the nearest whole number.
Therefore, the firm's breakeven sales quantity is 16,667 units, which is approximately 16,667 units. Thus, the correct answer is not provided in the options given.
Learn more about revenue here:
ttps://brainly.com/question/28558536
#SPJ11
Bahrain Company makes snow blowers. It has two departments that process all products Ambly and Testing. The following data p Direct materials are added at the beginning of the process and conversion costs are undormly incurred. The degree of completion of c At the beginning of September, work in process is 40% complete and at the end of the month wock is process is 60% complete. Oder dat e Beginning work-in-process inventory Units started 8,000 unit Units completed 12,800 units Ending work-in-process inventory 7 Conversion costs for September $800,000 Direct materials cost September $1,040,000 Beginning work-in-process costs: Materials $616,000 Conversion $328.320 12 prints Required: (9 marks) a) Prepare a production cost schedule for the Assembly Department at the end of September using the weighted average method of process costing b) Prepare the necessary journal entries. (3 marks)
a) Production Cost Schedule for the Assembly Department at the end of September using the weighted average method of process costing:
Units Materials ($). Conversion Costs ($)
Beginning work-in-process inventory (BWIP) 6,400 $328,320 $487,680
Units started 8,000 - -
Total units accounted for (BWIP + Units) 14,400 - -
Units completed 12,800 - -
Ending work-in-process inventory (EWIP) 1,600 - -
Equivalent Units of Production 14,400 - -
Cost per equivalent unit
Materials $22.83
Conversion costs - $91.67
Costs accounted for
Materials $292,800
Conversion costs - $1,173,333
Total costs $292,800. $1,173,333
b) Journal Entries:
1. To record the transfer of costs from beginning work-in-process inventory (BWIP) to production:
Debit: Work-in-Process Inventory (Assembly) - Materials: $328,320
Debit: Work-in-Process Inventory (Assembly) - Conversion Costs: $487,680
Credit: Beginning Work-in-Process Inventory (Assembly): $816,000
2. To record the transfer of costs from production to ending work-in-process inventory (EWIP):
Debit: Ending Work-in-Process Inventory (Assembly): $146,133.33 (Materials) + $586,200 (Conversion Costs)
Credit: Work-in-Process Inventory (Assembly) - Materials: $146,133.33
Credit: Work-in-Process Inventory (Assembly) - Conversion Costs: $586,200
3. To record the completion of units:
Debit: Finished Goods Inventory: $292,800 (Materials) + $1,173,333 (Conversion Costs)
Credit: Work-in-Process Inventory (Assembly) - Materials: $292,800
Credit: Work-in-Process Inventory (Assembly) - Conversion Costs: $1,173,333
Please note that the values in the production cost schedule and journal entries are based on the information provided and calculations specific to the weighted average method of process costing.
To know more about production cost and journal entry please visit:
brainly.com/question/30737492
#SPJ11
Monday, 14 March 2022, 2:12 PM Smart and sustainable technologies are often criticized for being too energy, efficiency, economics, and/or technology-oriented. How is Smart City 3.0 attempting to better incorporate people and the social' into its framework? Can you think of examples in your city that might be considered to be Smart City 3.0? • Initial Posts for these Discussion Questions are due no later than 11:00 p.m. Eastern Time on Wednesday. • Peer Responses may begin at any time, but will close 11:00 p.m. Eastern Time on Sunday. • Please see the Discussion in the Course Syllabus for information regarding required criteria and grading. Permalink | Reply
Smart City 3.0 aims to address the criticism of being too technology-focused by incorporating people and social aspects into its framework. One such example is the implementation of smart transportation systems. It recognizes that a truly smart and sustainable city should prioritize the well-being and quality of life of its residents.
This approach involves integrating technology with human-centric design, community engagement, and inclusive decision-making processes. In my city, there are several examples that can be considered as part of the Smart City 3.0 concept. One such example is the implementation of smart transportation systems. These systems not only focus on optimizing traffic flow and reducing emissions but also prioritize the needs of pedestrians and cyclists by providing dedicated lanes, safe crossing points, and real-time information about alternative modes of transportation. Additionally, initiatives such as community gardens, urban parks, and shared public spaces promote social interaction, well-being, and a sense of community among residents. These spaces are designed to encourage physical activity, recreation, and cultural events, fostering a stronger social fabric within the city.
Overall, the shift to Smart City 3.0 recognizes the importance of integrating people and social aspects into the development of smart and sustainable technologies. By prioritizing human well-being, community engagement, and inclusivity, cities can create environments that not only leverage technological advancements but also enhance the overall quality of life for their residents.
Learn more about integrating technology here: brainly.com/question/31957765
#SPJ11
Which of the following actions by the Federal Reserve is effective for countering a recession? selling bonds in the open market lowering tax rates increasing the discount rate none of the other answers is correct increasing the legal reserve requirement
Of the following actions by the Federal Reserve, the most effective for countering a recession is "Increasing the legal reserve requirement."
The legal reserve requirement is the percentage of deposits that a bank must hold in reserve. The Federal Reserve regulates the legal reserve requirement. When the economy is in a downturn, the Federal Reserve may raise the legal reserve requirement to compel banks to hold a greater percentage of their deposits in reserve.
This decreases the amount of money available to lend, which leads to a contraction in the money supply and a rise in interest rates, both of which can help to counter a recession. Increasing the legal reserve requirement is one of the methods used by the Federal Reserve to fight inflation.
To know more about Federal Reserve please refer:
https://brainly.com/question/25817380
#SPJ11
Assume that you are preparing to confirm accounts receivable at December 31, 2025, which is one month prior to the fiscal year-end of January 31, 2026. The book value of gross accounts receivable is $71,622,804. Complete the following requirements related to the confirmation of receivables for Cloud 9 based on previous work and the following information.
Using PPS sampling, determine the sample size that you want to use for sending accounts receivable confirmations. The book value of accounts receivable before the allowance for doubtful accounts is $71,622,804. You make the following assumptions.
You set tolerable misstatement for accounts receivable at $3,500,000.
Expected misstatement = $750,000.
Risk of incorrect acceptance = 37%.
Using PPS sampling, determine the sample size that you want to use for sending accounts receivable confirmations. The book value of accounts receivable before the allowance for doubtful accounts is $71,622,804. You make the following assumptions:
2. What do you calculate for sample size?
3. What do you calculate for sampling interval?
To calculate the sample size using PPS (Probability-Proportional-to-Size) sampling, you need to use the following formula:
Sample Size = (Book Value of Accounts Receivable / Sampling Interval) * Reliability Factor
In this case, the book value of accounts receivable before the allowance for doubtful accounts is $71,622,804. Assuming you want to use PPS sampling, you set the tolerable misstatement for accounts receivable at $3,500,000, and the expected misstatement is $750,000.
To calculate the sample size, you need to determine the sampling interval and the reliability factor. Let's calculate them:
Sampling Interval = (Tolerable Misstatement / Book Value of Accounts Receivable) * 100
Sampling Interval = ($3,500,000 / $71,622,804) * 100
Reliability Factor = [(Risk of Incorrect Acceptance) / (1 - Risk of Incorrect Acceptance)] * [(Expected Misstatement) / (Tolerable Misstatement)]
Reliability Factor = [(37% / (1 - 37%)] * [($750,000) / ($3,500,000)]
Now, you can substitute these values into the sample size formula to calculate the sample size.
Sample Size = ($71,622,804 / Sampling Interval) * Reliability Factor
To calculate the sampling interval, you can use the formula mentioned in the previous answer:
Sampling Interval = (Tolerable Misstatement / Book Value of Accounts Receivable) * 100
This formula allows you to determine the interval at which you will select the sample for confirmation. It ensures that each account in the population has an equal chance of being selected.
By substituting the given values into the formula, you can calculate the sampling interval.
Know more about Probability-Proportional-to-Size here:
https://brainly.com/question/20264196
#SPJ11
IBM expects to pay a dividend of $4 next year and expects these dividends to grow at 7% a year. The price of IBM is $95 per share What is IBM's cost of equity capital? OA. 11.21% OB. 3.36% OC. 4.48% OD. 7%
The cost of equity capital (Ke) of IBM's share is 11.21% approximately, which means the correct option is (A) 11.21%.
How to find?Cost of equity capital (Ke)The cost of equity capital is the return a company requires to attract equity investors to purchase shares of its stock.
It is calculated by dividing the total amount of dividends paid out over a year by the value of the company’s stock.
Considering the above formula we can derive an equation for cost of equity capital (Ke) using the dividend discount model (DDM).
The dividend discount model (DDM) can be defined as a procedure to value the stock price of a company by discounting the expected dividend payments.
The formula for DDM is shown below:
Po = D1/(Ke-g)
where
Po = the price of the stock
D1 = the dividend to be paid at the end of the year
Ke = the cost of equity capital
g = the growth rate of the dividends per share.
Substituting the given values in the above formula, we get:
Po = D1/(Ke-g)95
= 4/(Ke-0.07)95Ke - 6.65
= 4
Ke = (4 + 6.65) / 95Ke
= 0.11 or 11.21%.
Hence, the cost of equity capital (Ke) of IBM's share is 11.21% approximately.
Therefore, the correct option is (A) 11.21%.
To know more on equity visit:
https://brainly.com/question/31458166
#SPJ11
A company's sales in Year 1 were $250,000 and in Year 2 were
$287,500. Using Year 1 as the base year, the sales trend percent
for Year 2 is:
87%.
100%.
115%.
15%.
Option d: the sales trend percentage for Year 2 as per the information provided through calculation is 15%.
The sales trend percentage for year 2 is 15%.
to calculate sales trend percentage:
The sales trend percentage can be calculated as the percentage increase in sales between two periods. You need the following formula to calculate the sales trend percentage
:($ Value of sales in Year 2 - $ Value of sales in Year 1) ÷ $ Value of sales in Year 1 × 100
The dollar value of sales in Year 1 was $250,000, while in Year 2, it was $287,500.
Using the formula above, we can calculate the sales trend percentage for Year 2 as follows:
($287,500 - $250,000) ÷ $250,000 × 100 = 15%
Therefore, the sales trend percentage for Year 2 is 15% option d is the correct answer.
To learn more about trend percentage, here:
https://brainly.com/question/32273132
#SPJ11
A commercial bank has checkable deposits of $880, loans of value $775 and reserves at $105. The bank then receives a new deposit of $64. The required reserve ratio is 5%. After the new deposit but prior to asset transformation, the bank has excess reserves of _____ and then after asset transformation, where excess reserves are zero, the bank's total value of loans is _____
O $27.4: $896.8
O $27.4; $802.4
O $121.80; $896.8
O $121.80; $802.4
After the new deposit but prior to asset transformation, the bank has excess reserves of $61, and after asset transformation, where excess reserves are zero, the bank's total value of loans is $775.
To calculate the excess reserves after the new deposit and the total value of loans after asset transformation, we need to follow the steps:
Calculate the required reserves based on the required reserve ratio:
Required Reserves = Checkable Deposits * Required Reserve Ratio
Required Reserves = $880 * 0.05
Required Reserves = $44
Calculate the excess reserves before asset transformation:
Excess Reserves = Reserves - Required Reserves
Excess Reserves = $105 - $44
Excess Reserves = $61
Calculate the new total reserves after the new deposit:
Total Reserves = Reserves + New Deposit
Total Reserves = $105 + $64
Total Reserves = $169
Calculate the new total deposits after the new deposit:
Total Deposits = Checkable Deposits + New Deposit
Total Deposits = $880 + $64
Total Deposits = $944
Calculate the new required reserves based on the required reserve ratio and total deposits:
New Required Reserves = Total Deposits * Required Reserve Ratio
New Required Reserves = $944 * 0.05
New Required Reserves = $47.2
Calculate the new excess reserves after asset transformation:
New Excess Reserves = Total Reserves - New Required Reserves
New Excess Reserves = $169 - $47.2
New Excess Reserves = $121.8
Calculate the total value of loans after asset transformation:
Total Loans = Total Deposits - Total Reserves
Total Loans = $944 - $169
Total Loans = $775
Therefore, the correct answer is:
After the new deposit but prior to asset transformation, the bank has excess reserves of $61, and after asset transformation, where excess reserves are zero, the bank's total value of loans is $775.
Visit to know more about Deposit:-
brainly.com/question/13758092
#SPJ11
suppose that technological progress increases the productivity of teachers, and the demand for teachers increases. which of the following accurately describes the labor market for teachers after the technological change? equilibrium wages will group of answer choices rise, and the equilibrium quantity of teachers employed will fall. rise, and the equilibrium quantity of teachers employed will rise. fall, and the equilibrium quantity of teachers employed will fall. fall, and the equilibrium quantity of teachers employed will rise.
If the quantity of teachers employed falls due to technological progress increasing their productivity and the demand for teachers, the equilibrium wages will rise.
When the quantity of teachers employed falls due to technological progress increasing their productivity and the demand for teachers, the equilibrium wages will rise in the labor market.
Technological progress and increased productivity: Technological progress can enhance the productivity of teachers by providing them with tools, resources, and educational technologies that improve their teaching effectiveness.
This increased productivity can lead to a higher demand for teachers in the labor market.
Decrease in the quantity of teachers employed: Despite the increased demand for teachers, if technological progress significantly improves their productivity, fewer teachers may be needed to meet the educational needs.
This decrease in the quantity of teachers employed can be attributed to the higher efficiency and effectiveness brought about by technology.
Impact on equilibrium wages: As the quantity of teachers employed falls while the demand for teachers rises, the labor market for teachers experiences a decrease in the supply of available teachers.
This decrease in supply relative to demand leads to an upward pressure on wages. To attract and retain qualified teachers, schools and educational institutions may need to offer higher wages to compete in the labor market.
Equilibrium quantity of teachers employed: The equilibrium quantity of teachers employed can be expected to decrease due to the impact of technological progress on productivity.
However, the specific magnitude of this decrease depends on the balance between the increased demand for teachers and the reduction in the quantity of teachers needed to meet that demand.
In summary, if the quantity of teachers employed falls as a result of technological progress increasing their productivity and the demand for teachers, the equilibrium wages in the labor market for teachers will rise.
Know more about the equilibrium wages click here:
https://brainly.com/question/29222514
#SPJ11
Egrane, Incorporated's monthly bank statement showed the ending balance of cash of $20,400. The bank reconciliation for the period showed an adjustment for a deposit in transit of $2,450, outstanding checks of $3,900, an NSF check of $2,600, bank service charges of $125 and the EFT from a customer in payment of the customer's account of $3,400.
What was the cash balance on the Egrane's books (before the adjustments for items on the bank reconciliation)?
Multiple Choice
$18,275
$24,825
$18,950
$21,850
The cash balance on Egrane's books (before the adjustments for items on the bank reconciliation) is $18,950.the cash balance on the Egrane's books (before the adjustments for items on the bank reconciliation) is $18,950. Answer: $18,950.
A bank statement is a record of a customer's banking transactions from a particular account for a given period that is provided by the financial institution.
Bank statements are typically delivered as a paper document, but they can also be accessed electronically.Bank reconciliations are used by businesses to compare their accounting records to their bank records in order to identify differences and to reconcile the differences. When the two accounts are reconciled, the difference between them is the reconciling item. The reconciling items could include, for example, interest earned but not recorded in the books, deposits in transit, and outstanding checks. The differences will be resolved so that both the accounting records and the bank statement match.
To get the cash balance on Egrane's books before adjustments, we will start by adding the outstanding deposit to the bank statement balance. Outstanding deposit + Bank statement balance$2,450 + $20,400 = $22,850. Then, we will deduct the total of the outstanding checks and NSF check. Outstanding checks + NSF check$3,900 + $2,600 = $6,500. We will subtract this from $22,850:22,850 - 6,500 = 16,350Then, we will add the EFT deposit of $3,400.16,350 + 3,400 = $19,750Therefore,
To learn more about bank statement, visit here
https://brainly.com/question/15525383
#SPJ11
If the required reserve ratio is equal to 10 percent, a single bank can increase its loans up to a maximum amount equal to
10 percent of its excess reserves.
its total reserves.
10 times its excess reserves.
its excess reserves.
The correct answer to the question is that "If the required reserve ratio is equal to 10 percent, a single bank can increase its loans up to a maximum amount equal to its excess reserves."The required reserve ratio (RRR) is the percentage of its deposit liabilities that banks are required to keep on hand as reserves.
A bank's reserves are the sum of cash that is kept on hand in the bank's vaults plus any deposits held at the Federal Reserve Bank of the country.The excess reserves are the reserves held by banks above the minimum amount of reserves they are required to hold. When banks have excess reserves, they can make loans that increase the supply of money in the economy, boosting economic growth.When the RRR is 10%, a single bank can increase its loans up to a maximum amount equal to its excess reserves. Long answerWhen a bank receives deposits from its customers, it is required to hold a portion of those deposits in reserve. This is because banks face the risk of deposit withdrawals at any time, and it needs to have enough reserves to meet these demands.
The required reserve ratio is the percentage of deposits that banks are required to hold in reserve.The formula for calculating excess reserves is the total reserves held by a bank minus the required reserves. Banks that hold excess reserves can lend more money, which boosts economic activity. The maximum amount a bank can lend is equal to its excess reserves, given a certain required reserve ratio (RRR).When the RRR is 10%, a bank can lend a maximum of 90% of its deposits. For example, if a bank has $1,000 in deposits, it is required to hold $100 in reserves. If it has $150 in reserves, it has $50 in excess reserves. It can lend up to $50 to its customers, which increases the supply of money in the economy. The bank's loan capacity is limited by its excess reserves and the required reserve ratio.Answer:If the required reserve ratio is equal to 10 percent, a single bank can increase its loans up to a maximum amount equal to its excess reserves.Explanation:The excess reserves of a bank determine the maximum amount that a bank can lend. The required reserve ratio (RRR) is the percentage of deposits that banks are required to hold in reserve. When the RRR is 10%, a bank can lend a maximum of 90% of its deposits. The excess reserves are the amount of reserves held by banks above the minimum required reserves. Therefore, when the required reserve ratio is 10%, a single bank can increase its loans up to a maximum amount equal to its excess reserves.
To know more about required visit:
https://brainly.com/question/2929431
#SPJ11
market segmentation is done in order to develop different marketing strategies for each customer.
Market segmentation is done in order to develop different marketing strategies for each customer. This statement is True.
Market segmentation involves dividing a larger market into distinct groups or segments based on certain characteristics or criteria. This process allows businesses to better understand their customers and tailor their marketing strategies to meet the specific needs and preferences of each segment.
By identifying and targeting different customer segments, businesses can create more effective marketing campaigns, develop customized products or services, and enhance customer satisfaction and loyalty. Market segmentation helps businesses maximize their marketing efforts by focusing on specific customer groups and delivering messages and offerings that resonate with their unique characteristics and preferences.
learn more about "Market ":- https://brainly.com/question/25369230
#SPJ11
Between 2013 and 2015, approximately what fraction of hospitals added online patient access to medical records?
A. Three-quarters
B. One-half
C .One-third
D. One-fifth
Between 2013 and 2015, approximately one-third (C) of hospitals added online patient access to medical records. This means that out of all the hospitals during that time period, around 33.3% of them implemented online systems for patients to access their medical records digitally.
The adoption of online patient access to medical records was a significant development in healthcare during that period. It allowed patients to conveniently access their health information, including test results, medications, and medical history, through secure online portals. This increased transparency and empowered patients to take a more active role in managing their healthcare. Additionally, online access to medical records enhanced communication between patients and healthcare providers, as patients could easily share their health information with other healthcare professionals when needed. The implementation of such systems demonstrated the healthcare industry's commitment to leveraging technology to improve patient care and engagement.
Learn more about technology here: brainly.com/question/27709980
#SPJ11
Choo-Foo Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2020:
January February March April May
Estimated unit sales 11,000 11,000 8,000 10,000 8,000
Sales price per unit $55.00 $52.30 $52.30 $52.30 $52.30
Direct labour hours per unit 2.0 2.0 1.5 1.5 1.5
Wage per direct labour hour $8.00 $8.00 $8.00 $9.00 $9.00
Choo-Foo has a labour contract that calls for a wage increase to $9.00 per hour on April 1. It has installed new labour-saving machinery, which will be fully operational by March 1.
Choo-Foo expects to begin the year with 15,000 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month’s sales, plus 50% of the next month’s sales.
(a) Prepare a production budget and a direct labour budget for Choo-Foo by month and for the first quarter of the year. The direct labour budget should include direct labour hours and show the detail for each direct labour cost category. (Round DLH per unit to 1 decimal places, e.g. 1.2, labor rate per hour to 2 decimal places, e.g. 12.25 and all other answers to 0 decimal places, e.g. 125.)
Production Budget and Direct Labor Budget for Choo-Foo Company’s production budget, direct labor budget, and direct materials budget are the key components of the company’s master budget. Choo-Foo Company has compiled the following information for 2020:
January February March April May Estimated unit sales11000110008000100008000Sales price per unit$55.00$52.30$52.30$52.30$52.30Direct labor hours per unit2.02.01.51.51.5Wage per direct labor hour$8.00$8.00$8.00$9.00$9.00For April, the contract calls for a wage increase to $9.00 per hour. The company has installed new labor-saving machinery, which will be fully operational by March 1.
The beginning balance for January is 15,000 frames, and the company plans to maintain an end-of-month inventory of 100% of the following month’s sales, plus 50% of the next month’s sales. The production budget for January, February, and March and the first quarter, as well as the direct labor budget for each month and the first quarter, are listed below: Production Budget for Choo-Foo Company January February March First Quarter Estimated unit sales11,00011,0008,00030,000Add ending inventory10,00012,0006,000Sales
To know more about Production visit:
https://brainly.com/question/30333196
#SPJ11
Discussion Board Question: How would you describe the current state of the economy? What statistic(s) stood out to you the most? What are you seeing in your part-time job or hearing from others? What do you think is the number one concern today regarding the economy? Why (quote a statistic in your answer)?
Previous question
To describe the current state of the economy, it's important to consider various indicators and statistics such as GDP growth rate, unemployment rate, inflation rate, and consumer spending. These indicators provide insights into the overall health and performance of the economy.
One statistic that could stand out is the unemployment rate. High unemployment rates can indicate a sluggish economy, while low rates suggest a healthier job market and increased economic activity. For example, a recent statistic might show a decrease in the unemployment rate, suggesting a positive trend in job creation and economic recovery.
In terms of a part-time job or anecdotal evidence, it would be relevant to mention personal observations or experiences related to the local job market, consumer behavior, or business conditions. These insights can provide a more nuanced perspective on the current state of the economy.
The number one concern regarding the economy may vary depending on the context and specific circumstances. However, a common concern in many economies is income inequality. One possible statistic to support this concern could be the Gini coefficient, which measures income inequality within a country. A high Gini coefficient indicates greater income inequality and can lead to social and economic challenges.
Assessing the current state of the economy requires a comprehensive analysis of relevant indicators and personal observations. It is essential to consider statistics such as unemployment rate and income inequality to understand the challenges and trends in the economy. However, without access to real-time data, it is important to rely on up-to-date and accurate sources to provide a more precise assessment of the current economic conditions.
To know more about economy, visit
https://brainly.com/question/28210218
#SPJ11
1. Explain the Freudian theory of the self. Give an example of an advertisement which uses this theory. Explain in detail the relationship between the message of the ad and the Freudian theory of the self. 2. What is conformity? Why do we feel the need to conform and how does this affect our consumption behavior? Explain the factors which contribute to higher levels of conformity.
According to the Freudian theory, the self can be divided into three parts - the id, ego, and superego. The id is our unconscious self that contains our desires and impulses.
The ego is the conscious self that mediates between the id and the external world. The superego is our moral compass and strives for perfection and idealism. An example of an advertisement that uses Freudian theory is the Calvin Klein ad campaign that features highly sexualized images. These ads play on the viewer's unconscious desires and impulses (the id) to create an association between the brand and these desires. The relationship between the message of the ad and the Freudian theory of the self is that the ad is appealing to the viewer's unconscious desires, which is the id. The ad creates a strong association between the brand and these desires, which makes the viewer more likely to purchase the product.
Conformity is the tendency to adjust one's thoughts, feelings, or behaviors to fit in with a group or society. We feel the need to conform because it helps us to fit in and feel accepted by our peers. Conformity affects our consumption behavior by influencing the products we buy, the brands we choose, and the behaviors we engage in.
To learn more about Freudian theory, visit here
https://brainly.com/question/32509118
#SPJ11
Use the above table of indented BOM to answer the following questions (You can convert the indented BOM into a product tree structure): 1. How many units of C is required to make 1 unit of A? 2. How many units of E is required to make 25 units of A? 3. How many units of G is required to make 10 units of A? 4. In the above indented BOM, if the planned order releases for A are 20 in period 2; 40 in period 4; and 25 in period 5 then what are the gross requirements for B in period 2,4 and 5? 5. In the above indented BOM, if the planned order releases for B are 30 in period 2; 45 in period 4; and 35 in period 5 then what are the gross requirements for C in period 2,4 and 5? 6. In the above indented BOM, if the planned order releases for E are 40 in period 1; 55 in period 3; and 80 in period 5 then what are the gross requirements for F in period 1,3 and 5? Level Item Qty 0--- А 1 -1 -- B 2 --2- с 3 ---3 D 1 ---3 E 1 F 1 --2- G 2 ---3 H 1 ---3 I 1 In the above indented BOM, 7. What are the components of C? 8. What are the components of A (limit it to the immediate lower level and not subcomponents)?
The product tree for the given indented BOM is as follows:The answer to the given questions is as follows:1. In order to make 1 unit of A, we need 2 units of C. 2. In order to make 25 units of A, we need 25 * 2 = 50 units of E. 3. In order to make 10 units of A, we need 10 * 2 = 20 units of G. 4.
The planned order releases for A are given as follows: Period 2: 20Period 4: 40Period 5: 25Gross requirements for B in period 2 will be: 20 * 3 = 60Gross requirements for B in period 4 will be: 40 * 3 = 120Gross requirements for B in period 5 will be: 25 * 3 = 755. The planned order releases for B are given as follows:Period 2: 30Period 4: 45Period 5: 35 Gross requirements for C in period 2 will be: 30 * 2 = 60.
Gross requirements for C in period 4 will be: 45 * 2 = 90Gross requirements for C in period 5 will be: 35 * 2 = 706. The planned order releases for E are given as follows:Period 1: 40Period 3: 55Period 5: 80Gross requirements for F in period 1 will be: 40 * 1 = 40Gross requirements for F in period 3 will be: 55 * 1 = 55Gross requirements for F in period 5 will be: 80 * 1 = 807. The components of C are D and G. 8. The components of A are B, C, and E.
To know more about product visit :
https://brainly.com/question/31815585
#SPJ11
Assuming that you were the marketing manager of Borneo Pearl company (https://borneopearls.com/). Discuss how your retail outlet (both physical & online store) would influence your potential customers at the stage of (a) need recognition, (b) information search, and (c) prepurchase evaluation of alternatives in their decision-making process. You are required to give relevant examples or (and) relevant pictures to support your answers. [word limit: 500]
Borneo Pearl's retail outlet strategically employs both physical and online platforms to engage potential customers, guiding them through the stages of need recognition, information search, and pre-purchase evaluation.
Borneo Pearl's retail outlet, consisting of both physical and online stores, plays a crucial role in influencing potential customers at different stages of their decision-making process. Through a combination of effective marketing strategies, personalized customer experiences, and engaging online platforms, Borneo Pearl can impact customers' need recognition, information search, and pre-purchase evaluation, leading to increased sales and customer satisfaction.
At the stage of need recognition, Borneo Pearl's physical store can create awareness and desire for pearl jewelry through attractive window displays, showcasing their unique designs and craftsmanship. The online store can employ targeted advertising and social media campaigns to reach a wider audience, triggering the recognition of the need for exquisite pearl jewelry.
During the information search stage, Borneo Pearl's physical store provides a tangible and immersive experience for customers, allowing them to interact with the jewelry, try them on, and receive expert advice from knowledgeable staff. The online store complements this by offering detailed product descriptions, high-resolution images, and customer reviews, providing valuable information to facilitate informed decision-making.
In the pre-purchase evaluation stage, Borneo Pearl's physical store offers a personalized and luxurious shopping environment, where customers can compare different pearl jewelry pieces, assess their quality, and receive assistance in making the right choice. The online store enhances this process by offering virtual try-on features, user-friendly navigation, and secure payment options, allowing customers to evaluate alternatives conveniently from the comfort of their homes.
Learn more about decision-making here:
https://brainly.com/question/16407152
#SPJ11
(Quantitative) A one-year bond has an annual coupon of 6% and a face value of $1,000. What will be the rate of return of an investor who buys the bond at issuance for $963.75 and holds it to maturity?
To calculate the rate of return for an investor who buys a one-year bond at issuance and holds it to maturity, we need to consider the coupon payments received and the gain or loss from the difference between the purchase price and the face value.
Given:
Annual coupon: 6% of $1,000 = $60
Face value: $1,000
Purchase price: $963.75
The total return from the bond investment consists of two components:
Coupon Payments: The investor will receive a coupon payment of $60 at the end of the year.
Gain or Loss from Difference in Purchase Price and Face Value: The difference between the purchase price and the face value represents either a gain or a loss.
Face Value - Purchase Price = $1,000 - $963.75 = $36.25
Since the bond was purchased at a discount (below the face value), the investor will experience a gain of $36.25 when the bond matures.
The total return is the sum of the coupon payments and the gain:
Total Return = Coupon Payments + Gain or Loss
Total Return = $60 + $36.25
Total Return = $96.25
To calculate the rate of return, we divide the total return by the initial investment (purchase price) and express it as a percentage:
Rate of Return = (Total Return / Purchase Price) x 100
Rate of Return = ($96.25 / $963.75) x 100
Rate of Return ≈ 10%
Therefore, the rate of return for the investor who buys the bond at issuance for $963.75 and holds it to maturity is approximately 10%.
Learn more about investor Visit : brainly.com/question/25311149
#SPJ11
1). What is meant by the current description of the global economy that "time and distance have been compressed"? Do you agree? What has been the impact of this compression? Please answer between 400-500 words.
The phrase "time and distance have been compressed" in the context of the global economy refers to the significant reduction in barriers related to communication and transportation due to technological advancements.
This compression has transformed the world into a more interconnected and fast-paced environment. It has had a profound impact on various aspects of the global economy, including trade, communication, supply chains, competition, and market access.
The compression of time and distance in the global economy signifies the transformative effect of technology and infrastructure on communication and transportation. This phenomenon has brought about the following changes:
1. Communication: Technological advancements, such as the internet, email, and video conferencing, have revolutionized communication by enabling instant and seamless interactions across the globe. Messages that used to take days or weeks can now be transmitted in seconds, facilitating rapid decision-making and collaboration.
2. Transportation: Improvements in transportation infrastructure, including air travel, shipping, and logistics, have significantly reduced the time it takes for goods and people to travel long distances. This has led to faster delivery times and enhanced global trade, allowing businesses to access new markets and diversify their supply chains.
3. Global Supply Chains: The compression of time and distance has enabled businesses to optimize their supply chains on a global scale. Just-in-time manufacturing and efficient inventory management have become feasible due to reduced transportation times. Companies can now source materials and components from different parts of the world, leading to cost savings and access to specialized resources.
4. Competition: The compression of time and distance has intensified global competition. Companies not only face competition from local players but also from international firms that can easily enter new markets. This has necessitated increased agility and innovation to stay competitive in an interconnected world.
5. Market Access: The compression of time and distance has opened up new opportunities for businesses to access global markets. E-commerce platforms and digital marketplaces have allowed companies of all sizes to reach customers worldwide, breaking down traditional geographical barriers.
The impact of this compression of time and distance has been profound:
- Increased Trade and Economic Integration: The reduction in barriers to communication and transportation has facilitated greater trade flows between countries, leading to increased economic integration and interdependence.
- Improved Efficiency and Productivity: Faster communication and transportation have enhanced operational efficiency and productivity. Businesses can collaborate seamlessly, resolve issues promptly, and deliver products and services faster, resulting in cost savings and improved customer satisfaction.
- Accelerated Innovation and Knowledge Sharing: The compression of time and distance has fostered rapid innovation and knowledge sharing. Ideas, research, and best practices can be disseminated globally, enabling businesses and individuals to benefit from a global pool of expertise.
- Job Displacement and Skills Shift: The compression of time and distance has brought challenges as some industries and job roles have been displaced by automation, outsourcing, and global competition. This has necessitated a shift in skills and the need for continuous learning and adaptation.
- Environmental Impact: While the compression of time and distance has brought economic benefits, it has also contributed to increased carbon emissions and environmental concerns. The accelerated movement of goods and people has led to greater energy consumption and transportation-related pollution.
In conclusion, the compression of time and distance in the global economy, driven by technological advancements, has had a transformative impact. It has facilitated global trade, improved efficiency and productivity, accelerated innovation, and reshaped competition. However, it has also presented challenges such as job displacement and environmental consequences that need to be addressed.
Learn more about compression click here;
https://brainly.com/question/22170796
#SPJ11
.A six-month note receivable for $8,000 at 14%, dated October 1, 2020, has accrued interest revenue of intermediate calculations to two decimal places, and your final answer to the nearest dollar.) as of December 31, 2025. (Round any Select one: A. $280 B. $140 O C. $500 D. $1,120
To calculate the accrued interest revenue on the six-month note receivable, we need to determine the number of days between December 31, 2020, and December 31, 2025.
First, let's calculate the number of days in a year: 365 days
Next, let's calculate the number of days between December 31, 2020, and December 31, 2025: December 31, 2025 - December 31, 2020 = 5 years x 365 days/year = 1,825 days
Since the note is a six-month note, the interest is calculated for 180 days (6 months). Now, let's calculate the accrued interest revenue:
Accrued interest revenue = Principal x Interest rate x Time
Accrued interest revenue = $8,000 x 14% x (180/1,825)
Calculating the accrued interest revenue:
Accrued interest revenue = $8,000 x 0.14 x 0.09863 ≈ $110.904
Rounding to the nearest dollar, the accrued interest revenue as of December 31, 2025, is $111. Therefore, the correct answer is not provided in the options. The closest option is B. $140, but the accurate answer is $111.
Learn more about revenue here
https://brainly.com/question/14510611
#SPJ11
For each of the following independent situations, indicate whether there is an apparent internal control weakness, and, if one exists, suggest two alternative procedures to eliminate the weakness.
John Smith is the petty cash custodian. John approves all requests for payment out of the $200 fund, which is replenished at the end of each month. At the end of each month, John submits to his supervisor a list of all accounts and amounts to be charged, along with supporting documentation. Once the supervisor indicates approval, a check is written to replenish the fund for the total amount. John’s supervisor performs surprise counts of the fund to ensure that the cash and/or receipts equal $200 at all times.
All of the company’s cash disbursement are made by check. Each check must be supported by an approved voucher, which is in turn supported by the appropriate invoice and, for purchases, a receiving document. The vouchers are approved by Dean Leiser, the chief accountant, after reviewing the supporting documentation. Betty Hanson prepares the checks for Leiser’s signature. Leiser also maintains the company’s check register (the cash disbursements journal) and reconciles the bank account at the end of each month.
Fran Jones opens the company’s mail and makes a listing of all checks and cash received from customers. A copy of the list is sent to Jerry McDonald who maintains the general ledge accounts. Fran prepares and makes the daily despite at the bank. Fran also maintains the subsidiary ledger for accounts receivable, which is used to generate monthly statements to customers.
Situation 1:John Smith is the petty cash custodian.John approves all requests for payment out of the $200 fund, which is replenished at the end of each month. At the end of each month,
john submits to his supervisor a list of all accounts and amounts to be charged, along with supporting documentation. Once the supervisor indicates approval, a check is written to replenish the fund for the total amount. John’s supervisor performs surprise counts of the fund to ensure that the cash and/or receipts equal $200 at all times.Internal Control Weakness: The petty cash custodian, John Smith, has full control and authority over the approval and disbursement of petty cash without any oversight or separation of duties.
Alternative Procedures:1. Implement a dual control system: Assign another employee or supervisor to review and approve petty cash requests independently. This introduces an additional level of control and reduces the risk of unauthorized disbursements.2. Conduct periodic surprise audits: In addition to the supervisor's surprise counts, perform periodic surprise audits of the petty cash fund by an independent party. This ensures that the fund is properly managed and discourages any potential misappropriation.
Situation 2:All of the company’s cash disbursements are made by check. Each check must be supported by an approved voucher, which is in turn supported by the appropriate invoice and, for purchase , a receiving document. The vouchers are approved by Dean Leiser, the chief accountant, after reviewing the supporting documentation. Betty Hanson prepares the checks for Leiser’s signature. Leiser also maintains the company’s check register (the cash disbursements journal) and reconciles the bank account at the end of each month.
Internal Control Weakness: Dean Leiser, the chief accountant, has control over multiple aspects of the cash disbursement process, including approving vouchers, signing checks, maintaining the check register, and reconciling the bank account. This lack of segregation of duties creates a potential risk for fraudulent activities.Alternative Procedures:1. Segregate duties: Assign a separate employee to handle the preparation of checks and have Dean Leiser review and sign them. This separation of duties ensures that no one individual has complete control over the entire cash disbursement process.
2. Conduct periodic internal audits: Perform periodic internal audits of the cash disbursement process by an independent internal audit team. This helps to identify any irregularities or potential weaknesses in the control environment and provides assurance that the process is functioning effectively.Situation 3:Fran Jones opens the company’s mail and makes a listing of all checks and cash received from customers. A copy of the list is sent to Jerry McDonald, who maintains the general ledger accounts. Fran prepares and makes the daily deposit at the bank. Fran also maintains the subsidiary ledger for accounts receivable, which is used to generate monthly statements to customers.
Internal Control Weakness: Fran Jones has control over multiple aspects of the cash receipts process, including opening the mail, preparing the deposit, and maintaining the accounts receivable subsidiary ledger. This lack of segregation of duties poses a risk for potential misappropriation or errors.Alternative Procedures:
Learn more about purchase here:
https://brainly.com/question/31035675
#SPJ11
the gdp deflator is equal to. nominal gdp minus real gdp. nominal gdp multiplied by real gdp. nominal gdp divided by real gdp. nominal gdp plus real gdp.
The GDP deflator is equal to nominal GDP divided by real GDP. This can be written as follows:Answer: Nominal GDP divided by real GDP.Long answer:The GDP deflator is a price index used to measure the change in prices of all new and final goods and services produced in an economy.
It measures the inflation and deflation in an economy. The GDP deflator is calculated as the ratio of nominal GDP to real GDP. Nominal GDP refers to the total monetary value of all final goods and services produced in an economy in a given period. On the other hand, real GDP is nominal GDP adjusted for inflation.Real GDP accounts for changes in the price level and makes it easier to compare economic performance from one period to another. By dividing nominal GDP by real GDP, we get the GDP deflator.
This ratio tells us how much of the change in nominal GDP is due to changes in prices and how much is due to changes in quantities.The formula for calculating the GDP deflator is:GDP deflator = (Nominal GDP / Real GDP) x 100The GDP deflator is an important indicator of the inflation rate in an economy. If the GDP deflator is increasing, it means that the prices of goods and services in the economy are rising, indicating inflation. Conversely, if the GDP deflator is decreasing, it indicates that prices of goods and services are falling, indicating deflation.EXPLANATION:The correct answer is: Nominal GDP divided by real GDP.
To know more about nominal visit:
https://brainly.com/question/29291215
#SPJ11
