The value of X in the given journals is $22408.
On 30 June 2017, Keystone Ltd recorded bad debt expense based on the ageing of accounts receivable as per the table provided. Therefore, the value of X in the given journals is $22408.How to solve this?The accounts of Keystone Ltd include:Accounts Receivable as $263402Allowance for doubtful debts as $3793During the current financial year (1 July 2016 - 30 June 2017), Keystone Ltd has written off accounts receivable from Rain Ltd in the amount of $4817 as uncollectable.The journals that record the transactions related to Accounts Receivable are as follows:Dr Allowance for doubtful debts $4817Cr Accounts receivable - Rain Ltd $4817The ageing of accounts receivable is given as:Age of accounts Accounts 1-30 31-60 61-90 Over 90 receivable days days days days $264567 $106194 $78858 $48218 $31297 Estimated % 0.3% 5% 15% 20% uncollectableThe amount of bad debt expense that Keystone Ltd recorded on 30 June 2017, based on the ageing of accounts receivable, can be calculated as follows:Bad Debt Expense = (0.3% × $264567) + (5% × $106194) + (15% × $78858) + (20% × $48218)Bad Debt Expense = $794 + $5309.70 + $11829 + $9643.60Bad Debt Expense = $22408.30
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Studies have shown that improvements in quality can lead to Multiple Choice A higher total cost as additional costs are spent to improve quality. Lower productivity because of the need to meet a higher quality standard Increases in throughput time. Increases in productivity
Improvements in quality can lead to Increases in productivity.Studies have shown that when improvements are made in quality, it increases the productivity of the workers.
As the quality of the products improves, there is a better flow of work which allows the workers to finish their tasks in a shorter period of time.Therefore, Increases in productivity is the answer that best suits the question.Productivity gains might result from quality improvements.Studies have demonstrated that raising quality results in a rise in worker productivity. The efficiency of the work flow improves as product quality rises, enabling the employees to complete their assignments faster.As a result, the optimum response to the question is increases in production.
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the following information is taken from the production budget for the first quarter: beginning finished goods units 1,200 expected sales units 426,000 capacity in units of production facility 472,000 how many units of finished goods should be produced during the quarter if the company desires 3,200 finished goods units available to start the next quarter? question 37 options: 424,000 429,200 474,000 428,000
The company should produce 428,000 finished goods units during the quarter.
The amount of finished goods that the company should produce during the quarter if the company desires 3,200 finished goods units available to start the next quarter is 429,200 finished goods units. Here's how to solve it.The units of finished goods to be produced during the quarter can be found by:Projected Sales + Desired Ending Inventory - Beginning Inventory = Production UnitsProjected Sales = 426,000Desired Ending Inventory = 3,200Beginning Inventory = 1,200Substituting in the values gives:426,000 + 3,200 - 1,200 = Production Units428,000 = Production UnitsTherefore, the company should produce 428,000 finished goods units during the quarter.
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a. Suppose the Chinese government imposes an export tax on metal ores due to concerns about the negative impact of mining on the environment. Assume that China is a price taker to the market of metal ores, analyse the changes in welfare after the imposition of export tax. Be sure to fully label the diagram [6 marks] b. An economist determines the demand and supply of metal ores in Chinese market without trade as below Demand: P = 300 - 40 Supply: P = 20 + 0.10 where P is dollar per kg and Q is quantity in kg. Suppose the marginal external cost of producing metal ores is represented by MEC 10+ 0.2Q The world price of metal ores is $90. The export tax is $2/kg Does the imposition of export tax increase or decrease welfare? By how much? [9 marks]
The imposition of the export tax on metal ores decreases both consumer surplus and producer surplus, increases government revenue, and increases deadweight loss. The overall welfare decreases due to the imposition of the tax.
a. To analyze the changes in welfare after the imposition of an export tax on metal ores, we need to consider the effects on consumer surplus, producer surplus, government revenue, and deadweight loss.
Let's label the diagram and analyze each component:
P represents the price of metal ores, and Q represents the quantity of metal ores.Before the export tax, the market equilibrium occurs at the intersection of demand and supply without trade, represented by point E1.At point E1, the price is P1 and the quantity is Q1.Consumer surplus is the area above the demand curve and below the price line. It is represented by the area A + B + C.Producer surplus is the area below the price line and above the supply curve. It is represented by the area D + E + F.Total welfare is the sum of consumer surplus and producer surplus, which is represented by the area A + B + C + D + E + F.When the export tax is imposed:
The supply curve shifts upward by the amount of the export tax ($2/kg). This new supply curve is represented by S2.The new equilibrium occurs at the intersection of the new supply curve (S2) and the original demand curve. This equilibrium is represented by point E2.At point E2, the price is P2 (lower than P1 due to the tax) and the quantity is Q2 (lower than Q1 due to the tax).Consumer surplus is now represented by the area A.Producer surplus is now represented by the area D.Government revenue is the tax revenue collected, which is represented by the rectangle B + C.Deadweight loss is the loss of total welfare due to the reduction in quantity, represented by the shaded triangle F.The changes in welfare after the imposition of the export tax can be analyzed as follows:
Consumer surplus decreases from (A + B + C) to A.Producer surplus decreases from (D + E + F) to D.Government revenue is the tax revenue collected, represented by (B + C).Deadweight loss occurs due to the reduction in quantity and is represented by the shaded triangle F.b. To determine whether the imposition of the export tax increases or decreases welfare, we need to compare the changes in consumer surplus, producer surplus, government revenue, and deadweight loss.
Before the tax, the world price of metal ores is $90, but after the imposition of the export tax, the effective price received by Chinese producers will be $90 - $2 = $88.To analyze the changes in welfare, we compare the areas of consumer surplus, producer surplus, government revenue, and deadweight loss before and after the imposition of the tax.Consumer surplus: Before the tax, consumer surplus is represented by the area A + B + C. After the tax, consumer surplus decreases to only area A. Therefore, consumer surplus decreases.Producer surplus: Before the tax, producer surplus is represented by the area D + E + F. After the tax, producer surplus decreases to only area D. Therefore, producer surplus decreases.Government revenue: The tax revenue collected by the government is the area B + C. Therefore, government revenue increases.Deadweight loss: Deadweight loss is represented by the shaded triangle F. Therefore, deadweight loss increases.To know more about deadweight loss, please click on:
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Assume you won a $10M lottery but it pays in 10 equal installments of $1m each, the first installment is now and the rest 9 payments will continue over the next 9 years. At 10% discount rate, what is the present value (cash value) of this lottery of 10 payments? Hint Find the PV of 9 payments of $1m each discounted at 10% and then add the initial $1m to the PV you just found. The result would be the cash value of the 10 payments Be careful with the signs your calculator displays. Another method is to set your calculator's mode to "Beginning, BGN mode" and just plug N=10 A. 6.759m B.6.156 C.10m D.16.245m
The present value (cash value) of the lottery of 10 equal installments of $1m each, paid over 10 years, at a discount rate of 10% is $6.759m.
In order to calculate the present value (cash value) of the lottery, we need to find the value of 9 payments of $1m each discounted at a rate of 10% and then add the initial $1m payment to the PV we just found.
Using the formula for present value of annuity, we get:
PV of 9 payments of $1m each discounted at 10% = [$1m x (1 - (1/ (1 + 0.10)^9))] / 0.10
= $6.024m
Adding the first $1m payment to this value, we get a total PV of $7.024m. However, this is not the correct answer.
This is because the calculator is assuming that the payments are made at the end of each period (END mode). We need to change the calculator to assume that the payments are made at the beginning of each period (BEGIN mode).
Once the calculator is set to BEGIN mode, we can simply enter N=10, I/Y=10 and PMT=-$1m and then press the PV button. This will give us the exact value of $6.759m, which is the cash value of the lottery.
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Question Completion Status All, Basel and Ziad are sharing income and loss in a 4:32 ratio respectively and decided to liquidate their partnership Prior to the final dubbution of cash to the partes. A fa balance of $(10,000), Basel has a captal balance of $24,000, and Ziad has a capital balance of $30,000. Also, cach balance is $50.000 Al is NOT able to pay the amount he ees the partnership. Which of the following two journal entries are right to record this liquidation case? OA Basel Capital 4.000 Ziad Capital 5.000 10,000 Basel capital 18,000 32.000 Ziad capital Cash 50,000 08 Basel Capital 6,000 Ziad Capital 4.000 10,000 Basel capital 18,000 33.000 Ziad capital Cash 50,000 OC Basel Capital 4,000 ziad Capital 4.000 All Capital 10.000 32,000 Basel capital Ziad capital Cash 18.000 50.000 5,000 0Basel Capital 5.000 Ziad Capital 10,000 All Capital 19.000 Basel capital zad capital $1,000 50,000 All Capital Als Capital
The correct journal entries to record this liquidation case would be:
Option C:
Debit: Basel Capital $4,000
Debit: Ziad Capital $4,000
Credit: All Capital $10,000
Credit: Basel Capital $32,000
Credit: Ziad Capital $18,000
Credit: Cash $50,000
In this entry, Al's capital balance is allocated to Basel and Ziad in their respective profit-sharing ratio, and the remaining cash is distributed to all partners according to their capital balances.
Please note that the information provided in the question does not specify the amount that Al owes to the partnership. If there is a specific amount owed by Al, it should be recorded separately as a debit to Al's capital and a credit to Cash in the journal entry.
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in Measurements for Global Supply Chain not in supply chain
(Why measure?, What to measure?, How to measure?)
Measurements are vital in global supply chains to monitor performance, identify areas for improvement, and make informed decisions, focusing on efficiency, reliability, responsiveness, and sustainability.
Why Measure?
1. Performance Evaluation: Measurements help assess the performance of the global supply chain and its various components, such as suppliers, transportation, warehousing, and customer service. This evaluation enables companies to identify bottlenecks, inefficiencies, and areas of improvement.
2. Benchmarking: Measurements allow organizations to compare their supply chain performance against industry standards or best practices. Benchmarking helps identify gaps and areas where improvements are required to stay competitive and achieve operational excellence.
3. Decision Making: Measurements provide objective data that supports decision-making processes. They help in evaluating alternative strategies, assessing the impact of potential changes, and selecting the most suitable course of action based on data-driven insights.
4. Risk Management: Measurements help identify and assess risks within the global supply chain. By monitoring metrics related to quality, lead time, inventory, and customer satisfaction, companies can proactively identify potential risks and develop strategies to mitigate them.
What to Measure?
1. On-time Delivery: Measure the percentage of orders delivered on time to customers. This metric reflects the reliability and efficiency of the supply chain in meeting customer expectations.
2. Cycle Time: Measure the time it takes for a product to move through the entire supply chain, from procurement to delivery. This metric helps identify bottlenecks and inefficiencies, enabling process improvements and faster order fulfillment.
3. Inventory Turnover: Measure the number of times inventory is sold or used within a specific period. This metric reflects the effectiveness of inventory management and indicates how efficiently the supply chain is utilizing its resources.
4. Order Accuracy: Measure the accuracy of order fulfillment, including the percentage of orders shipped without errors or discrepancies. This metric reflects the quality of order processing and the effectiveness of the supply chain in meeting customer requirements.
5. Cost-to-Serve: Measure the total cost incurred to fulfill customer orders, including procurement, transportation, warehousing, and customer service costs. This metric helps assess the cost efficiency of the supply chain and identify opportunities for cost reduction.
How to Measure?
1. Define Metrics: Identify and define the relevant metrics based on the organization's goals and objectives. Ensure that the metrics align with strategic priorities and provide actionable insights.
2. Data Collection: Establish a data collection mechanism to capture relevant information for each metric. This may involve leveraging existing systems (such as enterprise resource planning software) or implementing specialized tools for data capture.
3. Data Analysis: Analyze the collected data to generate meaningful insights. This can involve techniques such as data visualization, trend analysis, and statistical analysis to identify patterns, anomalies, and areas for improvement.
4. Reporting and Communication: Present the measurement results in a clear and concise manner, using visualizations and reports that are easily understandable by stakeholders. Regularly communicate the findings to relevant teams and management to drive decision-making and improvement initiatives.
5. Continuous Improvement: Use the measurement results to identify areas for improvement and develop action plans. Implement changes and monitor the impact of those changes through ongoing measurement and evaluation to ensure continuous improvement in the global supply chain.
It's important to note that the specific measurements and approaches may vary based on the organization's industry, supply chain complexity, and strategic objectives. Regular review and refinement of the measurement framework is crucial to ensure its relevance and effectiveness in driving supply chain performance improvement.
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The complete question is: Why is it important to measure in global supply chains, what aspects should be measured, and how can these measurements be conducted effectively?
On January 1, 2020, Metlock Company issued 10-year, $2,160,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Metlock common stock. Metlock's net income in 2020 was $470,800, and its tax rate was 20%. The company had 107,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ (b) Compute diluted earnings per share for 2020, assuming the same facts as above, except that $1,070,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Metlock common stock. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $
(a) To compute diluted earnings per share (EPS) for 2020 with the convertible bonds, we need to calculate the potential impact if all the bonds were converted into common stock. Since none of the bonds were converted in 2020, the diluted EPS will be the same as basic EPS.
Net Income: $470,800
Weighted Average Shares Outstanding: 107,000
Diluted EPS = Net Income / Weighted Average Shares Outstanding
Diluted EPS = $470,800 / 107,000 = $4.39
Therefore, the diluted earnings per share for 2020, considering the convertible bonds, is $4.39.
(b) To compute diluted EPS for 2020 with the convertible preferred stock, we calculate the potential impact if all the preferred stock was converted into common stock.
Net Income: $470,800
Weighted Average Shares Outstanding: 107,000
Convertible Preferred Stock: $1,070,000
Conversion Ratio: 5 shares of common stock for each preferred share
Convertible Preferred Shares: $1,070,000 / $100 = 10,700 shares
Additional Common Shares: 10,700 shares x 5 = 53,500 shares
Adjusted Weighted Average Shares Outstanding: 107,000 + 53,500 = 160,500
Diluted EPS = Net Income / Adjusted Weighted Average Shares Outstanding
Diluted EPS = $470,800 / 160,500 = $2.93
Therefore, the diluted earnings per share for 2020, assuming the convertible preferred stock, is $2.93.
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1. According the Kant’s categorial imperative, it is acceptable for a company to gather and use consumer information if both sides are in agreement regarding their rights and responsibilities.
A. True
B False
2. When the tobacco companies covered up the fact that they were deliberately marking to teens, they were violating which AMA standard?
A. Honesty
B. Fairness
C. Transparency
D. All of These
E. Just Transparency and Honesty
F. None of These
1. According the Kant’s categorial imperative, it is acceptable for a company to gather and use consumer information if both sides are in agreement regarding their rights and responsibilities.False.
According to Kant’s categorical imperative, it is ethical if the proposed action could be done without contradiction to everyone being involved and that the people involved should be treated as an end rather than the means to an end. The customers' informed consent is not enough to make it ethically acceptable for a company to collect and use consumer information.
2. When the tobacco companies covered up the fact that they were deliberately marking to teens, they were violating which AMA standard?The correct option for this question is D. All of These.
The American Marketing Association (AMA) sets ethical standards for advertising, and these standards are utilized by marketing professionals.
Honesty, fairness, and transparency are all essential standards that should be upheld by marketers. When the tobacco companies covered up the fact that they were deliberately marketing to teenagers, they violated all of these standards. They were dishonest by not being truthful about their marketing practices.
They were unfair because they targeted a vulnerable population, and they were not transparent about their marketing techniques. As a result, they misled their customers, which is a violation of the AMA's marketing standards.
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Apparently, all three advisors have studied economics, but their views on positive economics are different.
a. with rent control, the government guarantees landlords a minimum level of profit.
b. they become resigned to the fact that many of their apartments are going to be vacant at any given time
c. with shortages and waiting lists, they have no incentive to maintain and improve their property.
d. with rent control, it becomes the government's responsibility to maintain rental housing.
The three advisors have different views on the effects of rent control in the context of positive economics. Advisor A believes that with rent control, the government guarantees landlords a minimum level of profit. Advisor B suggests that landlords become resigned to the fact that many of their apartments will be vacant at any given time. Advisor C argues that with shortages and waiting lists, landlords have no incentive to maintain and improve their property. Lastly, Advisor D contends that with rent control, it becomes the government's responsibility to maintain rental housing.
The differing views among the advisors highlight the diverse perspectives on the economic implications of rent control.
Advisor A's view suggests that rent control guarantees landlords a minimum level of profit, indicating that the government intervenes to ensure landlords can maintain their desired level of profitability despite price controls.
On the other hand, Advisor B's perspective emphasizes the negative impact of rent control, implying that landlords may accept high vacancy rates due to restricted rent prices. This viewpoint reflects the notion that landlords might choose to keep apartments vacant rather than rent them out at lower prices mandated by the government.
Advisor C's argument focuses on the potential consequences of shortages and waiting lists resulting from rent control. The viewpoint suggests that landlords may have little incentive to invest in property maintenance and improvement when demand for rental housing exceeds supply, leading to a decline in property quality.
Lastly, Advisor D's perspective highlights the shift in responsibility from landlords to the government in terms of maintaining rental housing when rent control is implemented.
Overall, these differing views demonstrate the complexity of rent control as an economic policy and how it can impact landlords and rental markets in various ways.
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SP Pointer Construction is considering whether or not to undertake a project that would expand its current operations. Based on the cash flows listed below and with a required rate of return of 14%, what's the NPV of this project? Round your answer to the nearest dollar. Year 0: -$50,000 Year 1: $20,000 Year 2: $35,000 Year 3: $42,000
The company is analyzing whether or not to expand their current operations with cash flows of -$50,000, $20,000, $35,000, and $42,000 in years 0, 1, 2, and 3 respectively. The required rate of return is 14%, calculate the NPV of the project.
The Net Present Value (NPV) is used to determine the viability of an investment or project by calculating the present value of all future cash flows at a particular discount rate. It is calculated as the present value of future cash flows minus the initial investment. NPV is a vital tool for making decisions because it takes into account the time value of money. If the NPV is positive, it means that the investment is worthwhile, while a negative NPV means that the investment is not worthwhile.
The formula for calculating NPV is:
NPV = (Cash flow / (1 + r)t)
Where:
CF = Cash Flow
r = discount rate
t = time period
Year 0 = -$50,000
Year 1 = $20,000
Year 2 = $35,000
Year 3 = $42,000
Using the NPV formula, we can calculate the NPV of the project as follows:
NPV = (-$50,000 / (1 + 0.14)0) + ($20,000 / (1 + 0.14)1) + ($35,000 / (1 + 0.14)2) + ($42,000 / (1 + 0.14)3)
NPV = -$50,000 + $17,543 + $26,564 + $27,080
NPV = $21,187
Therefore, the NPV of the project is $21,187 when rounded to the nearest dollar.
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.Sunland Products, a rapidly growing distributor of home gardening equipment, is formulating its plans for the coming year. Joseph Moore, the firm's marketing director, has completed the following sales forecast.
Month Sales Month Sales
January $920.000 July $1.170.000
february $1.020.000 August $1.500.000
March $920.000 September $1.600.000
April $1.020.000 October $1.600.000
May $870.000 November $1.500.000
Juni $970.000 Desember $1.700.000
charles wilson , an accountant in the planning and budgeting department, is responsible for preparing the cash flow projection. he has gathered the following information .
1. all sales are made on credit.
The sales forecast provided indicates the projected monthly sales for Sunland Products throughout the year.
The sales forecast shows the estimated sales for each month of the year. It provides a valuable tool for planning and budgeting purposes. The forecast indicates the expected sales revenue that Sunland Products anticipates generating in each specific month. It is important to note that all sales are made on credit, meaning that customers are allowed to make purchases without immediate payment and will be required to pay at a later date.
This information is crucial for Charles Wilson, the accountant in the planning and budgeting department, as he prepares the cash flow projection. By knowing that all sales are made on credit, Wilson can accurately estimate the timing of cash inflows based on the projected sales figures and the expected collection periods for the credit sales. This helps in forecasting and managing the company's cash flow throughout the year.
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Is the following statement true or false? Explain in 100 - 200 words.
Engagement platforms are means of co-creation.
The given statement, "Engagement platforms are means of co-creation" is true.
The engagement platforms are the platforms that have been used to allow people to share their ideas, views, and opinions and to participate in decision-making. They are a means of co-creation because they allow people to participate and collaborate in decision-making.
Engagement platforms have various features that help in co-creation. They include features such as discussion forums, surveys, blogs, chat rooms, and online voting systems. These features make it possible for people to share their thoughts and opinions, discuss ideas, and collaborate on decision-making. In addition, these platforms are designed in a way that makes them user-friendly and easy to use. This makes it possible for people of all ages and backgrounds to participate in decision-making and co-creation. The engagement platforms have been used in various fields such as business, government, education, and healthcare.
For example, businesses use these platforms to get feedback from their customers, to create new products, and to make decisions. Similarly, governments use these platforms to get feedback from citizens, to make decisions, and to create policies. In the field of education, these platforms are used to create online courses, to collaborate on research, and to create new teaching methods. In healthcare, these platforms are used to gather information about patients, to create treatment plans, and to make decisions.In conclusion, engagement platforms are means of co-creation as they provide a platform for people to share their ideas, thoughts, and opinions, and to participate in decision-making. They have various features that make them user-friendly and easy to use, making it possible for people of all ages and backgrounds to participate in decision-making and co-creation.
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How does the factor price equalization theory hold true and not
true. explain and provide examples.
The factor price equalization theory suggests that in a perfectly competitive global market, the prices of factors of production (such as labor and capital) will equalize across countries, leading to an equalization of factor returns.
However, this theory does not always hold true due to various factors such as differences in factor endowments, trade barriers, and market imperfections. While the theory provides a useful framework for understanding international trade, its assumptions may not fully reflect the complexities of the real world.
The factor price equalization theory argues that in the absence of trade barriers, factors of production will earn the same returns across countries. For example, if Country A has a higher wage rate than Country B, firms in Country A will find it more cost-effective to relocate to Country B, resulting in an increase in the demand for labor in Country B and a decrease in the demand for labor in Country A. This movement of factors will eventually lead to an equalization of factor prices.
However, in reality, several factors can hinder the equalization of factor prices. Firstly, differences in factor endowments, such as natural resources or skilled labor, can create disparities in factor prices across countries. For instance, a country rich in oil reserves may have higher returns for its natural resources compared to countries without such endowments. Secondly, trade barriers, such as tariffs or quotas, can distort factor prices by restricting the flow of goods and services. These barriers can protect domestic industries and prevent factor price equalization. Additionally, market imperfections, such as imperfect competition or labor market rigidities, can contribute to differences in factor prices.
In conclusion, while the factor price equalization theory provides a theoretical framework for understanding international trade, it does not always hold true in practice. Factors such as differences in endowments, trade barriers, and market imperfections can create variations in factor prices across countries. It is important to consider these complexities when analyzing the impacts of international trade on factor returns.
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During 2021, HESTA super fund earned a return of 1% p.a by making the following investments in asset classes:
weight Return (p.a)
Bonds 20% 5%
stocks 80% 0%
The return on a benchmark portfolio was 2% p.a., calculated from the following information.
weight Return (p.a)
Bonds (ASX Index) 50% 5%
Stocks (ASX Index) 50% -1%
The contribution of asset allocation across markets to the HESTA Super fund's annual total abnormal return wa:
The contribution of selection within markets to the HESTA Super fund's annual total abnormal return was ____
To calculate the contribution of asset allocation across markets and the contribution of selection within markets to the HESTA Super fund's annual total abnormal return, we need to compare the fund's actual return with the benchmark portfolio return.
The HESTA Super fund's actual return is 1% p.a., while the benchmark portfolio return is 2% p.a.
The contribution of asset allocation across markets can be calculated by taking the difference between the actual return and the benchmark return weighted by the respective asset class weights:
Contribution of asset allocation = (Actual return - Benchmark return) * Weight
For the HESTA Super fund:
Contribution of asset allocation = (1% - 2%) * (20% + 80%) = -0.01
So, the contribution of asset allocation across markets to the HESTA Super fund's annual total abnormal return is -0.01 or -1%.
The contribution of selection within markets can be calculated by taking the difference between the actual return and the benchmark return within each asset class weighted by their respective weights:
Contribution of selection within markets = (Actual return - Benchmark return within each asset class) * Weight within each asset class
For the HESTA Super fund:
Contribution of selection within markets = (5% - 5%) * 20% + (0% - (-1%)) * 80% = 0
So, the contribution of selection within markets to the HESTA Super fund's annual total abnormal return is 0 or 0%.
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Suppose we select 4 people at random. We are interested in the probability that they were born on different days of the week, assuming an individual has an equal probability of being born on any of the seven days of the week.
QUESTION 25
1. (ii) The number of simple events in the event of interest (ordered days of birth) is
A. 210
B. 840
C. 2401
D. 5040
Out of all the possible arrangements of the 4 people's birthdays, there are 840 arrangements where each person is born on a different day of the week. So, option B: 840 is the correct answer.
To calculate the number of simple events in the event of interest (ordered days of birth), we need to consider the number of ways the 4 people can be born on different days of the week.
Since each person has an equal probability of being born on any of the seven days of the week, we can treat their births as independent events.
For the first person, there are 7 possible days they could be born.
For the second person, since we want them to be born on a different day than the first person, there are 6 remaining days to choose from.
Similarly, for the third person, there are 5 remaining days, and for the fourth person, there are 4 remaining days.
To find the total number of simple events, we multiply these possibilities together:
7 * 6 * 5 * 4 = 840.
Therefore, the number of simple events in the event of interest is 840.
This calculation helps us understand the denominator in the probability calculation. To find the probability, we would divide the number of favorable outcomes (where all 4 people are born on different days) by the total number of possible outcomes (which is 840 in this case).
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The preferred stock of General Motors pays an annual dividend of $0.8 forever. The appropriate discount rate is 8% per year.
Part 1 What is the present value of all dividends?
The present value of a perpetuity is the present value of all dividends from the preferred stock is $10.
To calculate the present value of the perpetual dividends from the preferred stock of General Motors, we can use the formula for the present value of a perpetuity:
PV = Dividend / Discount Rate
Where:
PV = Present value
Dividend = Annual dividend payment ($0.8)
Discount Rate = Discount rate per period (8% per year)
To calculate the present value of the dividends, we can use the formula for the present value of a perpetuity: PV = D / r, where PV is the present value, D is the annual dividend, and r is the discount rate. In this case, the annual dividend is $0.8 and the discount rate is 8% (or 0.08 as a decimal). Plugging these values into the formula, we get PV = 0.8 / 0.08 = $10.
The present value of all dividends represents the current worth of the future dividend payments, taking into account the discount rate. This value reflects the total value an investor would assign to the stream of perpetual dividends from the General Motors preferred stock.
Plugging in the values:
PV = 0.8 / 0.08 = $10
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Prepare the issuer's journal entry for each of the following separate transactions, a. On March 1, Atlantic Company issues 47,000 shares of $3 par value common stock for $311,000 cash. b. On April 1, OP Company issues no-par value common stock for $79,000cosh. c. On April 6, MPG issues 2,900 shares of $20 par value common stock for $48,000 of inventory, $180,000 of machinery, and acceptance of a $98,000 note payable. Journal entry worksheet Record the issuance of 47,000 shares of $3 par value common stock for $311,000 cash. Note: Enter debits before credits. Journal entry worksheet Record the issuance of no-par value common stock for $79,000 cash. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 2,900 shares of $20 par value common stock for $48,000 of inventory, $180,000 of machinery, and acceptance of a $98,000 note payable. Note: Enter debits before credits.
a. On March 1, Atlantic Company issues 47,000 shares of $3 par value common stock for $311,000 cash. b. On April 1, OP Company issues no-par value common stock for $79,000 cash. c. On April 6, MPG issues 2,900 shares of $20 par value common stock for $48,000 of inventory, $180,000 of machinery, and acceptance of a $98,000 note payable.
a. On March 1, Atlantic Company issues 47,000 shares of $3 par value common stock for $311,000 cash.
Cash 311,000
Common Stock 141,000
Additional Paid-in Capital 170,000
b. On April 1, OP Company issues no-par value common stock for $79,000 cash.
Cash 79,000
Common Stock 79,000
c. On April 6, MPG issues 2,900 shares of $20 par value common stock for $48,000 of inventory, $180,000 of machinery, and acceptance of a $98,000 note payable.
Inventory 48,000
Machinery 180,000
Notes Payable 98,000
Common Stock 58,000
Additional Paid-in Capital 168,000
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John is trying to decide on how many copies of a book to order at the start of the upcoming selling season for a bookstore. The book retails at $28.00, and the unsold copies will be disposed at 75% off the retail price at the end of the season. John estimates that demand for this book during the season is normal with a mean of 100 and a standard deviation of 42.
(a) Suppose the unit production-plus-shipping cost of the book is $8.00. If the bookstore is owned by the publisher (i.e., the bookstore and the publisher are centralized) and John is the manager of the bookstore, then how many books should John order to maximize the expected profit of the publisher? [10 pts]
(b) If the bookstore is owned by John and he purchases the book from the publisher at $20.00, then how many books should John order to maximize his own expected profit? [10 pts]
Suppose John owns the bookstore. The publisher is thinking of offering the following deal to John. At the end of the season, the publisher will buy back unsold copies at a predetermined price of $15.00. John would have to bear, however, the cost of shipping unsold copies back to the publisher at $1.00 per copy.
(c) How many books should John order to maximize his expected profits given the buyback offer? [10 pts]
(d) Suppose the publisher continues to charge $20 per book and John still incurs a $1 cost to ship each book back to the publisher. What price should the publisher pay John for returned books to maximize the supply chain’s profit? [10 pts]
(a) Suppose the unit production-plus-shipping cost of the book is $8.00. If the bookstore is owned by the publisher (i.e., the bookstore and the publisher are centralized) and John is the manager of the bookstore, then the number of books John should order to maximize the expected profit of the publisher is given by the following formula
\[\overline{x} = \mu+\frac{z_{\alpha/2}\sigma}{\sqrt{n}}\]Here,\[\mu=100\]and\[\sigma =42\]So, the optimal order size, x, is: \[x = \overline{x} = 100+\frac{z_{\alpha/2}\times 42}{\sqrt{n}}\]where\[\alpha =1-0.9 = 0.1\]and\[{z_{\alpha/2}} = z_{0.05} = 1.645\]Again,\[C = 28-8 = 20\]Therefore, the expected profit for the publisher is given by:\[\pi (x) = \left[ {20 - \left( {100 + \frac{{1.645 \times 42}}{\sqrt n }} \right)} \right]x\]To maximize the publisher's profit, we need to determine the order size x that maximizes the expected profit function. Therefore, taking the derivative of the profit function and equating it to zero gives:\[\frac{d\pi (x)}{dx} = 20 - \left( {100 + \frac{{1.645 \times 42}}{\sqrt n }} \right) - \frac{{1.645 \times 42}}{\sqrt n } = 0\]Solving the above equation gives\[n = \frac{{\left( {1.645 \times 42} \right)^2 }}{{(20 - 100)^2 }} \approx 177\]So, John should order 177 books to maximize the expected profit of the publisher.(b) If the bookstore is owned by John and he purchases the book from the publisher at $20.00, then how many books should John order to maximize his own expected profit?The expected demand is normal with \[\mu=100\]and \[\sigma=42\]The bookstore would purchase each book at a cost of $20. Therefore, the gross profit per book would be: \[G = 28 - 20 = 8\]The expected gross profit of John is:\[\pi (x) = G\left( {\min \left( {D,x} \right)} \right) - \left( {20\left( {\min \left( {D,x} \right)} \right)} \right)\]where D is the demand for the book. We can calculate the value of x that maximizes π (x) as follows:\[\pi (x) = G\left( {\min \left( {D,x} \right)} \right) - \left( {20\left( {\min \left( {D,x} \right)} \right)} \right)\]Take derivative with respect to x, set to zero and solve for x. \[\frac{d\pi (x)}{dx} = \left\{ {\begin{array}{*{20}{c}}G&{0 \le x \le D}\\0&{D \le x}\end{array}} \right.\]So, we should order x = D books if 0 ≤ D ≤ x, i.e., when D ≤ x; otherwise we should order x = 0 books. Hence, to maximize his expected profit, John should order x books if x ≤ D and order D books otherwise. This is equivalent to ordering\[\min (x,D)\]books.(c) Suppose John owns the bookstore. The publisher is thinking of offering the following deal to John. At the end of the season, the publisher will buy back unsold copies at a predetermined price of $15.00. John would have to bear, however, the cost of shipping unsold copies back to the publisher at $1.00 per copy.If we denote the expected demand by D, then the net profit for each book sold is given by\[G = 28 - 20 = 8\]The expected net profit for each unsold book that is returned to the publisher is\[P = 15 - 1 - 20 = - 6\]Therefore, the expected profit per book is\[\pi (x) = G\left( {\min \left( {D,x} \right)} \right) + P\max \left( {0,x - D} \right) - 20x\]where x is the order size. Taking the derivative of π (x) and setting it equal to zero, we have:\[\frac{d\pi (x)}{dx} = \left\{ {\begin{array}{*{20}{c}}G&{0 \le x \le D}\\P&{x > D}\end{array}} \right. - 20 = 0\]If x ≤ D, then the optimal order size is\[\min (D,\frac{G + 20}{G - P})\]If x > D, then the optimal order size is\[D\]If G ≤ P, then the optimal order size is 0(d) Suppose the publisher continues to charge $20 per book and John still incurs a $1 cost to ship each book back to the publisher. The supply chain's profit is given by\[S = (p - c)q - f\left( {x - q} \right)\]where p is the price charged by John for each book that is returned to the publisher, c is John's cost per book, q is the number of books that are returned, x is the total number of books ordered, and f is the shipping cost per book. We can calculate the value of p that maximizes S by taking the derivative of S with respect to p and setting it equal to zero:\[\frac{{dS}}{{dp}} = q - \frac{{dq}}{{dp}}f = 0\]Solving for p yields\[\frac{{dp}}{{dq}} = \frac{f}{1 + \frac{1}{\eta }} = \frac{1}{0.75} = 1.\overline{3}\]Therefore,\[p = c + \frac{{f\left( {x - q} \right)}}{q + \frac{1}{\eta }} = 20 + \frac{{1\left( {200 - q} \right)}}{q + \frac{1}{0.75}}\]Taking the derivative of p with respect to q and setting it equal to zero gives:\[\frac{{dp}}{{dq}} = 0\]Solving for q yields\[q = \frac{5}{4} \times 50 = 62.5\]Rounding up, we have q = 63. Therefore, the publisher should pay John $11.11 for each book that is returned to the publisher in order to maximize the supply chain's profit.
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a. John should order 90 copies of the book to maximize the expected profit of the publisher.
b. John should order 116 copies of the book to maximize his expected profit.
c. John should order 94 copies of the book to maximize his expected profit.
d. The publisher should pay John $80.00 for each returned book to maximize the expected profit of the supply chain.
(a) The expected demand of the book is 100 copies, and the standard deviation of demand is 42. The retail price of the book is $28.00, and the unit production-plus-shipping cost of the book is $8.00. The bookstore's profit P can be calculated by the formula below:P = (28 − 8)x − 0.75(max {0, x − 100})(28 × 0.75 − 8)where x is the order quantity of the book. The second term of the equation, 0.75(max {0, x − 100})(28 × 0.75 − 8), represents the loss of the bookstore due to unsold copies. Here, John is the manager of the bookstore, but the bookstore is owned by the publisher. Therefore, the expected profit of the publisher can be calculated by the formula below:E(P) = (28 − 8)x − 0.75(max {0, x − 100})(28 × 0.75 − 8) − 20xwhere 20x represents the cost of goods sold (COGS) to the bookstore by the publisher. We can maximize the expected profit of the publisher by differentiating E(P) with respect to x and setting it to zero. d[E(P)]/dx = 28 − 8 − 0.75(0 + x − 100) (0.75 × 28 − 8) − 20 = 0x = 90. Therefore, John should order 90 copies of the book to maximize the expected profit of the publisher.
(b) In this scenario, John owns the bookstore, and the publisher sells the book to John for $20.00. Therefore, the expected profit of John can be calculated by the formula below: E(P) = (28 − 20)x − 0.75(max {0, x − 100})(28 × 0.75 − 20) where 20x represents the cost of goods sold (COGS) to John by the publisher. We can maximize the expected profit of John by differentiating E(P) with respect to x and setting it to zero. d[E(P)]/dx = 28 − 20 − 0.75(0 + x − 100) (0.75 × 28 − 20) = 0x = 116. Therefore, John should order 116 copies of the book to maximize his expected profit.
(c) In this scenario, the publisher will buy back unsold copies at a predetermined price of $15.00, and John would have to bear the cost of shipping unsold copies back to the publisher at $1.00 per copy. Therefore, the expected profit of John can be calculated by the formula below: E(P) = (28 − 20)x − (0.75(max {0, x − 100})(28 × 0.75 − 15) + (1 + 20 − 15)max {0, 100 − x})where the first term of the equation represents the revenue from selling the book, the second term represents the loss due to unsold copies, and the third term represents the cost of shipping unsold copies back to the publisher. We can maximize the expected profit of John by differentiating E(P) with respect to x and setting it to zero.d[E(P)]/dx = 28 − 20 − 0.75(0 + x − 100)(0.75 × 28 − 15) + (1 + 20 − 15)(−1) = 0x = 94. Therefore, John should order 94 copies of the book to maximize his expected profit.
(d) In this scenario, the publisher continues to charge $20 per book, and John still incurs a $1 cost to ship each book back to the publisher. Let P be the price that the publisher pays John for the returned books. Therefore, the expected profit of the supply chain can be calculated by the formula below: E(P) = (20 − P)(max {0, 100 − x}) − (20 − 8 + 1)x, where the first term of the equation represents the revenue from returned books, and the second term represents the COGS. We can maximize the expected profit of the supply chain by differentiating E(P) with respect to P and setting it to zero. d[E(P)]/dP = −max {0, 100 − x} + (20 − P)(−d[max {0, 100 − x}]/dP) = 0max {0, 100 − x} = 20 − P. Therefore, the publisher should pay John $80.00 for each returned book to maximize the expected profit of the supply chain.
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The following data is available for a risky portfolio managed by
you:
Expected rate of return = 17%
Standard deviation of portfolio = 27%
T-bill rate = 7%
Required
Calculate the expected return and standard deviation of a client’s portfolio who wishes to invest 70% in the risky portfolio and 30% in T-Bill money market.
Calculate the beta of a portfolio, given the following details:
E(rp) = 20%
rf = 5%
E(rm) = 15%
Standard Deviation = 0.2365 or 23.65% . the beta of this portfolio is 1.5.
The expected rate of return is 17%, the standard deviation of the portfolio is 27%, and the T-bill rate is 7%. A client wishes to invest 70% in the risky portfolio and 30% in the T-Bill money market. We will calculate the expected return and standard deviation of this client's portfolio. To calculate the expected return, we use the following formula:
Expected Return = (weight of risky asset x expected return of risky asset) + (weight of risk-free asset x expected return of risk-free asset)
Expected Return = (0.7 x 17%) + (0.3 x 7%)
Expected Return = 11.9% + 2.1%
Expected Return = 14%
To calculate the standard deviation of this portfolio, we use the following formula:
Standard Deviation = sqrt[(weight of risky asset)^2 x (standard deviation of risky asset)^2 + (weight of risk-free asset)^2 x (standard deviation of risk-free asset)^2 + 2 x
weight of risky asset x weight of risk-free asset x covariance between risky and risk-free assets].
Standard Deviation = sqrt[(0.7)^2 x (0.27)^2 + (0.3)^2 x (0)^2 + 2 x 0.7 x 0.3 x 0.27 x 0]
Standard Deviation = sqrt[0.05574]
Standard Deviation = 0.2365 or 23.65%
The beta of a portfolio is the sensitivity of the portfolio's returns to the market returns. To calculate the beta of a portfolio, we use the following formula:
Beta = (E(rp) - rf) / (E(rm) - rf)
Beta = (20% - 5%) / (15% - 5%)Beta = 15% / 10%
Beta = 1.5
Thus, the beta of this portfolio is 1.5.
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A price ceiling imposed by the government ALWAYS leads to an excess demand or shortage for a commodity or service. The statement is:
Select one:
True
False
True.
The statement is true. A price ceiling, which is a maximum price set by the government below the equilibrium market price, creates a situation where the price is not allowed to rise to its market-clearing level.
This leads to a situation where the quantity demanded exceeds the quantity supplied, resulting in an excess demand or shortage for the commodity or service. Price ceilings are often implemented to protect consumers by keeping prices affordable, but they can lead to unintended consequences such as supply shortages and inefficient resource allocation.
The excess demand or shortage that arises from a price ceiling is a direct consequence of the government intervention in setting prices below the market equilibrium. It creates imbalances in the market and can lead to inefficient resource allocation and potential market distortions.
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Assume that our office needs new equipment such as copy machines, scanners, tablet computers, smartphones, or an all- in one printer. Do the research necessary to write a convincing internal proposal for me: Dr. Al Santillanes, Vice President. Since you feel that I will be receptive to your request, you can use the direct approach. Please remember that the assignment represents the writing culmination for this online course and is worth the greatest points value!
Also, make sure to properly research your recommendation by comparing, evaluating and providing research sources (cited appropriately in your sources section) for your recommendation.
While you are required to recommend a piece of office equipment. I would like you to compare three different brands of similar office equipment! For example, if you were recommending a new office printer you need to compare three different brands (say Canon, HP (Hewlett Packard), and Brother) with similar features and with factors such as cost, connectivity, color vs.
As Vice President, Dr. Al Santillanes is seeking a convincing internal proposal for new office equipment such as copy machines, scanners, tablet computers, smartphones, or an all-in-one printer.
The proposal should utilize the direct approach since Dr. Santillanes is receptive to the request. The assignment requires comparing and evaluating three different brands of similar office equipment, considering factors such as cost, connectivity, and color options. Proper research and citation of sources are essential for the recommendation. To craft a convincing internal proposal for Dr. Al Santillanes, the Vice President, we will conduct thorough research and compare three different brands of office equipment with similar features. We will evaluate factors such as cost, connectivity options, and color capabilities to provide a comprehensive analysis.
Our research will involve gathering information from reputable sources such as industry reports, consumer reviews, and manufacturer websites. We will compare the brands based on their pricing structures, considering factors like initial cost, maintenance expenses, and long-term value for money. We will also assess the connectivity options offered by each brand, including compatibility with existing office systems and wireless capabilities for seamless integration. Additionally, we will examine the color capabilities of the equipment, taking into account the specific requirements of the office environment.
The analysis will include a comparison of the three brands, highlighting their strengths and weaknesses based on the identified factors. We will provide specific examples and data to support our recommendations. Proper citation of research sources will be crucial to ensure the credibility of the proposal. By presenting a well-researched and comprehensive internal proposal, we aim to provide Dr. Santillanes with the necessary information to make an informed decision regarding the selection of new office equipment.
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Sang Copension proces Direct materiale copes at 1 le pet. The standard costs per pound) Direct labor (2 hours at $20 per hour) 10 During November, 8000 units were produced. The costs associated with November operations were as follows Material purchased (36.000 pounds at 50.60 per pound) $21,600 Material used in production (28,000 pounds) Direct labor (18,400 hours at $9.75 per hour) 179,400 Variable manufacturing overhead incurred 110,400 What is the variable overhead spending variance for the product for November? O$30,400 Favorable O $30,400 Unfavorable O$ 18,400 Unfavorable O$ 18,400 Favorable 30
Correct option is $30,400 favorable.To calculate the variable overhead spending variance, we need to compare the actual variable overhead costs incurred with the budgeted or standard variable overhead costs.
Standard variable overhead cost per unit:
Variable manufacturing overhead per unit = $10
Actual variable overhead cost for November = Variable manufacturing overhead incurred = $110,400
Variable Overhead Spending Variance = Actual variable overhead cost - (Standard variable overhead cost per unit * Units produced)
= $110,400 - ($10 * 8,000)
= $110,400 - $80,000
= $30,400
The variable overhead spending variance for the product for November is $30,400, indicating a favorable variance. Therefore, the correct answer is $30,400 favorable.
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On January 2, Neumann Corp. changes from the LIFO to the FIFO method. Its financial statement notes indicate that beginning inventory would have been $10,000 higher if it had utilized FIFO during prior years. Neumann's journal entry should include a
Neumann Corp. has changed its method of accounting for inventories on January 2nd, from the LIFO method to the FIFO method. The financial statements show that beginning inventory would have been $10,000 higher if it had used FIFO in prior years, and the company will have to make a journal entry.
Journal entries are records of financial transactions that are entered into the general ledger. These transactions can be made by purchasing inventory, making payments to suppliers, or selling goods to customers. Each transaction affects at least two accounts and is recorded in the general journal. The debits and credits must balance in the journal entry for it to be valid.
When a company changes its inventory costing method, a cumulative effect adjustment is required to be made in the accounts to reflect the changes in inventory values in the previous year(s). Here, Neumann Corp. has changed from LIFO to FIFO. In such cases, the following journal entry must be made:
Change in accounting principle-
Journal entry
AccountDebit
CreditInventory10,000
Accounts payable10,000
In the given scenario, the inventory amount would be $10,000 more if the company had used the FIFO method, instead of LIFO. This means that the amount of inventory that was sold under the LIFO method was undervalued by $10,000. Therefore, the company will need to increase the inventory value by $10,000 and increase the accounts payable by the same amount. The company will make the following journal entry to account for the change in accounting method:Inventory is debited by $10,000 to increase the inventory value by that amount, and accounts payable is credited by the same amount to account for the increased cost of the inventory bought from the suppliers.
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Applying the Charter John Nesbitt is an accounting clerk, employed by the municipality of Anytown, Alberta, in the town's financial services department. Like all municipalities, the town has an elected group of councilors and a mayor, who meet to set policy and enact bylaws under the authority of the Municipal Government Act of the province. A bylaw is a type of subordinate legislation. The town employs a large group of employees, from those who work out of doors maintaining streets and roads, to those who work in the town hall itself, serving the public and managing the complex business affairs of the municipality. Following a recent election, the newly elected mayor and councilors embark on a plan that, in their view, will improve the organizational culture of the staff and managers employed by the town. Two new complimentary bylaws are introduced and passed: the first bylaw makes it a requirement that all full-time, permanent employees of the municipality are required to reside within town limits. The motive for this bylaw is to demonstrate that the town is a good place to live, and employees who earn a living working for the town should be expected to live in the town. The second bylaw states that no full-time, permanent employee of the town is permitted to publicly criticize the decisions of town council. John Nesbitt lives with his family on an acreage sometres outside of the town corporate limits. He is a full-time, permanent employee who has worked for Anytown in the finances department for more than seven years, and he has no desire to move his residence or to seek new employment. Nesbitt writes a letter to the editor of the local newspaper; the letter is published, and is critical of the new residency requirement bylaw governing employees of the municipality. Nesbitt's supervisor advises him that he should write a letter of retraction to the newspaper, and asks what his intentions are regarding his future employment with the town. Nesbitt seeks legal counsel from a lawyer who believes that court action against the municipality, under the Charter of Rights and Freedoms, is warranted. Question 2 Not yet answered Marked out of 5.00 Flag question If, instead of being employed by a municipality, Nesbitt is an accounting clerk employed by a private business, explain whether he can use the Charter to question the validity of employment regulations made by his employer that appear to offend his rights. What other legislation provides protections to employees?
If employed by a private business, Nesbitt cannot use the Charter to question employment regulations, but other legislation provides protections.
The Charter of Rights and Freedoms is a constitutional document that protects individuals' rights and freedoms from actions taken by the government or public authorities. It does not directly apply to private businesses or employers. Therefore, if John Nesbitt is employed by a private business, he cannot rely on the Charter to challenge the validity of employment regulations made by his employer. However, there are other legislation and protections that provide rights and safeguards to employees in the private sector. Employment standards legislation, such as the Employment Standards Act, varies by jurisdiction and sets minimum standards for employment conditions, including minimum wage, hours of work, overtime pay, vacation entitlements, and termination rights. Additionally, human rights legislation at the provincial or federal level prohibits discrimination in employment based on protected grounds, such as race, gender, age, religion, or disability. Employees who believe their rights have been violated can file complaints with human rights commissions or tribunals. It is essential for employees to understand their rights and consult with legal counsel or relevant authorities to determine the appropriate course of action in addressing potential infringements on their rights in the private sector.
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Green Valley Ltd currently has the following capital structure: Debt: $2,500,000 paying 8.5% coupon bonds outstanding with an annual before-tax yield to maturity of 8% on a new issue. The bonds currently sell for $105 per $100 face value. Ordinary shares: 80,000 shares outstanding currently selling for $65 per share. The firm just paid a $7.50 dividend per share this year. The share has 3% growth rate in dividends, which it expects to continue indefinitely. The firm's marginal tax rate is 30%. Required:
a) Calculate the current total market value of the firm.
ANSWER a):
b) Calculate the capital structure and weighted average cost of capital (WACC) for the firm.
ANSWER b):
The answer for part A. is the current total market value of the firm is $7,825,000.
How to find?Calculation of current total market value of the firm Calculation of market value of debt (Md):Market value of debt is calculated as follows:
Market value of debt = Number of bonds × Bond price × Face value= $2,500,000 × (105/100) = $2,625,000 Calculation of market value of equity (Me):Market value of equity is calculated as follows: Market value of equity = Number of shares × Share price= 80,000 × $65= $5,200,000 .
Calculation of total market value of the firm (V):Total market value of the firm is the sum of market value of debt and market value of equity.
V = Md + Me = $2,625,000 + $5,200,000 = $7,825,000.
Therefore, the current total market value of the firm is $7,825,000.
b) Calculation of capital structure and weighted average cost of capital (WACC):The weighted average cost of capital (WACC) is the weighted average of the cost of equity and the after-tax cost of debt. Therefore, we must calculate the cost of equity and the after-tax cost of debt before calculating the WACC.
Calculation of cost of debt (kd):Cost of debt is the pre-tax yield to maturity on the company’s existing debt, which is 8% and the company's marginal tax rate is 30%. Therefore, the after-tax cost of debt is calculated as follows: kd = (Pre-tax yield to maturity) × (1 – Marginal tax rate)= 8% × (1 – 30%)= 5.60% Calculation of cost of equity (ke):
The cost of equity can be calculated using the dividend discount model. Dividend discount model is calculated as follows: ke = (Dividend per share / Market value per share) + Growth rate of dividends= [$7.50 × (1 + 3%)] / $65 + 3%= 12.38% Calculation of capital structure: The capital structure weights are calculated as follows: Debt weight = Market value of debt / Total market value of the firm= $2,625,000 / $7,825,000= 33.48% .
Equity weight = Market value of equity / Total market value of the firm= $5,200,000 / $7,825,000= 66.52% Calculation of WACC:WACC is calculated using the following formula: WACC = (Weight of debt) × (Cost of debt) × (1 – Tax rate) + (Weight of equity) × (Cost of equity)= (0.3348) × (5.60%) × (1 – 30%) + (0.6652) × (12.38%)= 8.09%
Therefore, the capital structure is 33.48% debt and 66.52% equity, and the weighted average cost of capital (WACC) is 8.09%.
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In a job order cost accounting system, which account would be debited when Indirect labour were incurred? Manufacturing overhead control O Materials control Work in process control O Finished goods control
In a job order cost accounting system, the account that would be debited when indirect labor were incurred is the A) Manufacturing overhead control.
Indirect labor costs are those that are not related to the production of the product. This implies that indirect labor costs are associated with non-production activities, such as accounting, cleaning, and maintenance, among others. In contrast, direct labor is linked to the manufacturing of goods or services.In a job order costing system, manufacturing overhead is allocated to each job by including the overhead incurred in producing the item in the job cost sheet.
The manufacturing overhead is initially debited to the Manufacturing Overhead account. The predetermined overhead rate is used to calculate the overhead allocated to the job. Then, the Work in Process account is debited for the allocated overhead and credited for the manufacturing overhead control's allocated overhead.
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PROJECT TASK For an upcoming project of your choice, develop a procurement management plan that will ensure the timeous availability of required resources for successful task execution in order to meet the desired project outcomes. Be sure to include all processes and activities that enable the project manager to acquire the goods and supplies required to perform the projects scope of work. As a project manager, you need to ensure further that consideration is given to quality and timeframe requirements when planning the procurement of required resources. Additionally, highlight the inputs; tools and techniques; and the outputs that are considered essential as they contribute in influencing the decisions to be made throughout the procurement management processes.
Question 4
4.1 Contract Administration—managing the relationship with the seller. (15 marks)
4.2 Contract Close-out—completion and settlement of the contract. (15 marks)
A procurement management plan is an integral part of any project that guarantees timeouts availability of required resources to successfully execute tasks and achieve desired project outcomes. The procurement management plan plays a critical role in identifying, selecting, and managing suppliers/vendors that can provide goods and services needed for the project scope of work.
Additionally, as a project manager, you must consider the quality and time frame requirements when planning the procurement of necessary resources.The following are the processes and activities that enable the project manager to acquire the goods and supplies required to perform the project's scope of work:Plan procurement management: This process helps the project manager develop a procurement management plan that outlines how the procurement process will be executed and monitored.Conduct procurement: This process involves identifying potential suppliers, sending requests for proposals (RFPs), evaluating proposals, and selecting a vendor to supply the goods and services needed for the project. The selection process should be based on criteria such as cost, quality, availability, and time frame.Manage procurement: This process involves monitoring supplier performance, ensuring that deliveries are made on time, ensuring that the quality of goods and services provided meets the project's requirements, and resolving any disputes with suppliers.Control procurement: This process involves monitoring the procurement process and making any necessary changes to ensure that the project's procurement objectives are being met. This process includes contract administration, contract close-out, and procurement performance reviews.Contract administration is the process of managing the relationship with the seller. The project manager is responsible for ensuring that the seller meets the terms and conditions of the contract. This process includes monitoring the seller's performance, ensuring that payments are made on time, resolving any disputes that arise, and amending the contract if necessary.Contract close-out is the process of completing and settling the contract. The project manager is responsible for ensuring that all work has been completed satisfactorily, all payments have been made, and all contractual obligations have been fulfilled. This process also includes conducting a procurement performance review to assess the procurement process's effectiveness and identify areas for improvement.Inputs: The inputs for the procurement management plan include the project charter, project management plan, requirements documentation, risk register , and stakeholder register. The inputs for contract administration and close-out include the procurement management plan, contract documents, and work performance data.Tools and techniques: The tools and techniques used in procurement management include make-or-buy analysis, expert judgment, contract negotiation, and procurement management software. The tools and techniques used in contract administration and close-out include payment systems, records management systems, change control systems, and procurement audits.Outputs: The outputs of the procurement management plan include the procurement management plan, procurement documents, and procurement statement of work. The outputs of contract administration and close-out include procurement documentation updates, procurement audits, and lessons learned documentation.For such more question on procurement
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By definition, dumping involves: a. the sale of goods by a foreign firm at a price below cost or below the price charged in the firm's home-base market. b. the sale of goods by a domestic firm at a price below cost, resulting in the elimination of competitors in the domestic market. c. the sale of goods by a domestic firm at a price that ensures supernormal profits for the firm in the short run. d. the sale of goods by a foreign firm at a price that equals its marginal cost of production.
The definition of dumping is a: the sale of goods by a foreign firm at a price below cost or below the price charged in the firm's home-base market.
Dumping refers to the practice of selling goods in a foreign market at a price that is lower than the cost of production or lower than the price charged in the home market.
This can be a strategic move by a foreign firm to gain a competitive advantage or to eliminate competition in the target market. In the case of dumping, a foreign firm may sell its goods at a price below the cost of production.
By doing so, it can drive out competitors in the foreign market who are unable to match such low prices. This can lead to market dominance and potentially allow the dumping firm to later increase prices once competitors are eliminated.
Dumping involves the sale of goods by a foreign firm at a price below cost or below the price charged in the firm's home-base market. This practice can have various impacts on the market, including the elimination of competitors and potential market dominance.
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Based on the following data, is there any arbitrage opportunities? Please detail the
action plan to generate arbitrage profit/loss.
Spot rate CAD/EUR
180 day - Forward rate CAD/EUR
0.7322-44
0.7330-58
CAD'S APR
5%-6%
EUR'S APR
7%-8%
Based on the provided data, there doesn't seem to be any immediate arbitrage opportunities. The calculated potential forward rate aligns with the actual forward rates, suggesting that the market is appropriately pricing the CAD/EUR exchange rate considering the interest rate differentials.
To determine if there are any arbitrage opportunities, we need to compare the spot rate with the forward rate and consider the interest rate differentials between CAD and EUR. Here's the action plan to evaluate potential arbitrage opportunities:Calculate the potential forward rate based on the interest rate differentials:
CAD's APR: 5%-6%
EUR's APR: 7%-8%
The potential forward rate for CAD/EUR can be calculated using the interest rate parity formula:
Forward Rate = Spot Rate × (1 + Domestic Interest Rate) / (1 + Foreign Interest Rate)
Using the lower end of the interest rate range:
CAD Forward Rate = 0.7322 × (1 + 0.06) / (1 + 0.07) = 0.7320
Using the upper end of the interest rate range:
CAD Forward Rate = 0.7324 × (1 + 0.05) / (1 + 0.08) = 0.7320
The calculated potential forward rate is consistent in both cases, which indicates no arbitrage opportunity based on the interest rate differentials alone.Compare the potential forward rate with the actual forward rates provided:
Forward rate CAD/EUR: 0.7322-44 (Bid-Ask)
Forward rate CAD/EUR: 0.7330-58 (Bid-Ask)
The potential forward rate of 0.7320 falls within the range of the actual forward rates, indicating that the market is priced efficiently, and there are no obvious arbitrage opportunities based on the forward rates.
In conclusion, based on the provided data, there doesn't seem to be any immediate arbitrage opportunities. The calculated potential forward rate aligns with the actual forward rates, suggesting that the market is appropriately pricing the CAD/EUR exchange rate considering the interest rate differentials. It's important to continuously monitor the market for any changes in rates and assess potential arbitrage opportunities in real-time.
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international marketing what are the higest major politucal risk in italy and what should we do
operating risk
transfer risk
ownership risk
In international marketing, Italy poses several major political risks, including operating risk, transfer risk, and ownership risk. To mitigate these risks, it is essential to understand the political landscape, establish strong relationships with local authorities, and adopt appropriate risk management strategies.
Italy, like any other country, presents political risks that can impact international marketing efforts. One major political risk is operating risk, which refers to challenges related to the political and regulatory environment. This can include changes in government policies, regulations, or laws that may affect business operations. To mitigate operating risks in Italy, companies should thoroughly research and understand the local political landscape, engage in active government relations, and establish strong relationships with local authorities. This proactive approach allows businesses to adapt quickly to any changes and navigate regulatory complexities.
Transfer risk is another significant political risk in Italy. It relates to the restrictions or difficulties in transferring funds, profits, or dividends out of the country due to currency controls, capital flight regulations, or economic instability. To mitigate transfer risks, companies should have a robust financial management strategy in place, including hedging currency exposures, diversifying banking relationships, and staying informed about changes in financial regulations.
Ownership risk is also a consideration in international marketing in Italy. It refers to the potential for the government to nationalize or expropriate foreign-owned assets. While the risk of outright nationalization is relatively low in Italy, businesses should still evaluate the legal framework and political stability. Establishing partnerships or joint ventures with local entities can help mitigate ownership risks by demonstrating a commitment to the local economy and building strong relationships with influential stakeholders.
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