A risk management plan for a project includes defining objectives, identifying risks, quantifying risks, developing a response, and implementing risk controls.
A risk management plan is a systematic approach to identifying, assessing, and managing risks that may impact a project's success. The plan consists of several key elements:
1. Defining objectives: Clearly defining project objectives provides a clear direction for the project and helps align risk management activities with project goals.
2. Identifying risks: Thoroughly identifying risks involves analyzing various factors that may pose a threat to the project's success, such as technical, environmental, or organizational risks.
3. Quantifying risks: Quantifying risks involves assessing the probability and potential impact of identified risks, enabling prioritization and allocation of resources to address the most significant risks.
4. Developing a response: Developing a risk response plan involves determining appropriate strategies for managing identified risks, such as avoidance, mitigation, transfer, or acceptance.
5. Implementing risk controls: Implementing risk controls involves putting in place measures to actively manage and monitor identified risks, ensuring they are effectively addressed throughout the project's lifecycle.
By following these elements and their associated discussions, a comprehensive risk management plan can be developed to effectively manage and mitigate risks in a project, increasing the project's chances of success.
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LD .dz An electric drill is listed for $674.46 less 35%, 18%, 2%. - (a) What is the net price? (b) What is the total amount of discount allowed? (c) What is the exact single rate of discount that was allowed? ده -d3
The exact single rate of discount that was allowed is 47.61%.
To calculate the net price of the electric drill, we need to apply the given discounts one after another.
First, we can apply the 35% discount:
35% of $674.46 = $236.06
Now, subtracting this from the original price gives us:
$674.46 - $236.06 = $438.40
Next, we can apply the 18% discount:
18% of $438.40 = $78.91
Subtracting this from the previous result gives us:
$438.40 - $78.91 = $359.49
Finally, we can apply the 2% discount:
2% of $359.49 = $7.19
Subtracting this from the previous result gives us the net price:
$359.49 - $7.19 = $352.30
Therefore, the net price of the electric drill after all the discounts is $352.30.
To find the total amount of discount allowed, we can simply add up the individual discounts:
$236.06 + $78.91 + $7.19 = $322.16
Therefore, the total amount of discount allowed is $322.16.
To find the exact single rate of discount that was allowed, we can use the concept of equivalent discounts. We can calculate the equivalent discount rate by finding a single discount that would give us the same final net price as the successive discounts applied in this case.
Using the formula for equivalent discount rate, we get:
(1 - equivalent rate) x $674.46 = $352.30
Simplifying this equation, we get:
equivalent rate = (674.46 - 352.30) / 674.46
equivalent rate = 0.4761 or 47.61%
Therefore, the exact single rate of discount that was allowed is 47.61%.
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Evaluate different approaches to strategizing activity, including analysis, issue selling, decision making and communicating
Strategizing activity involves analysis, issue selling, decision making, and communicating. Each approach plays a significant role in developing and implementing effective strategies.
There are several approaches to strategizing activity, each with its own benefits and considerations. Analysis is an essential part of strategizing, involving the examination of internal and external factors that could impact the organization's goals.
This helps identify strengths, weaknesses, opportunities, and threats. Issue selling is another approach, where strategists aim to persuade key stakeholders about the importance and feasibility of a particular strategy. This requires effective communication skills and the ability to address concerns and objections.
Decision making is crucial in strategizing, as it involves choosing the most appropriate course of action. Different decision-making models, such as rational, intuitive, or political, can be used depending on the situation. It's important to consider factors like risk, time constraints, and available resources.
Communicating the strategy effectively is vital for its successful implementation. This involves conveying the strategic objectives, rationale, and expected outcomes to all stakeholders. Clear and concise communication helps ensure alignment and understanding across the organization. Evaluating and combining these approaches based on the organization's context and goals can enhance the strategic planning process.
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Examine agency and employment relationships and complete the provided memorandum below.
Maria Gonzalez is a current employee of eHarbour. Maria was born in Cuba and she immigrated to the United States as a child with her parents. Maria is now a naturalized United States citizen. Maria speaks both fluent English and Spanish, but she does have a Spanish accent. Maria has a bachelor’s degree in business marketing from the University of Florida and worked in advertising for ten years before joining eHarbour. Maria has sent an email to Daniel Hudson expressing concerns that Shawn Hudson has been using derogatory words directed toward her and other female employees of eHarbour. In addition, Maria claims that Shawn Hudson has used derogatory names toward another employee of eHarbour who identifies as transgender. Maria has asked Shawn to stop using the derogatory words, but Shawn continues to call Maria and other employees derogatory names.
In your role working as a paralegal or legal assistant for eHarbour, draft a memorandum to Daniel Hudson, the eHarbour general counsel, addressing whether Maria has a potential claim against eHarbour under Title VII of the Civil Rights Act. Discuss what steps Maria must take to bring an action under Title VII and whether Shawn was acting within the scope of his employment when he used derogatory names against Maria and other employees, and potential damages that Maria could recover. In addition, discuss in the memorandum what steps eHarbour can take to increase diversity awareness and limit potential employment law claims in the future.
-In the provided memorandum below, Must discuss potential liability under Title VII of the Civil Rights Act.
-In the provided memorandum below, Must discuss scope of employment as applied to the factual situation.
-In the provided memorandum below, Must discuss potential damages in a Title VII case.
-In the provided memorandum below, Must discuss steps to increase diversity awareness and limit potential employment law claims.
MEMORANDUM
Date: September 11, 2022
To: Daniel Hudson
From: (student's name)
Re: Maria Gonzalez and potential employment law liability
Introduction
[Provide an introduction in this section.]
Title VII of the Civil Rights Act
[Discuss potential liability under Title VII of the Civil Rights Act of 1964 in this section. "Title VII prohibits discrimination against employees, applicants, and union members on the basis of race, color, national origin, religion, or gender at any stage of employment" (Miller, 2016, p. 429).]
Scope of Employment
[Discuss whether Shawn Hudson acted within the scope of employment in this section.]
Potential Damages
[Discuss potential damages that Maria Gonzalez could recover in this section.]
Diversity Awareness Training
[Discuss steps to increase diversity awareness and limit potential employment law claims in this section.]
Conclusion
[Give a brief conclusion in 1–2 sentences.]
Memorandum
Date: September 11, 2022
To: Daniel Hudson, eHarbour General Counsel
From: [Your Name]
Re: Maria Gonzalez and potential employment law liability
Introduction
This memorandum examines any potential legal obligations under employment laws that eHarbour may have in relation to Maria Gonzalez's complaints about Shawn Hudson's alleged harassment and discriminatory actions. We will go over the potential claim under Title VII of the Civil Rights Act.
The Civil Rights Act, Title VII
The Civil Rights Act of 1964's Title VII outlaws discrimination in the workplace on the grounds of race, color, national origin, religion, and gender. Maria Gonzalez's complaint against eHarbour falls under the ambit of Title VII since she asserts that Shawn Hudson made disparaging remarks to her, other female employees, as well as to a transgender employee. Title VII violations may include Maria's instance of gender and national origin discrimination (Miller, 2016).
Scope of Employment
We must take into account whether Shawn Hudson's behavior took place at work or just outside of it to establish whether it was within the scope of his employment. Shawn was most likely acting within the bounds of his employment if it can be proven that his offensive speech was directed at workers and took place at work. As a result, eHarbour could be held vicariously liable.
Potential Damages
Maria Gonzalez might be able to get compensation if she files a Title VII claim and successfully defends her claim. In addition to compensatory damages, such as lost pay and emotional distress, these losses may also encompass any other harm incurred as a result of the discriminatory behavior. Additionally, if it can be shown that the employer behaved maliciously or carelessly disregarding the rights of the employees, punitive damages may be granted (Miller, 2016).
Diversity Awareness Training
To increase diversity awareness and limit potential employment law claims, eHarbour should consider implementing the following steps:
All staff members should receive required diversity training that emphasizes respect, inclusivity, and the proscription of discriminatory behavior.
Create a comprehensive anti-harassment and anti-discrimination policy that outlines what is and is not acceptable behavior and the repercussions for breaking it.
Conclusion
It is essential for eHarbour to act quickly and appropriately in light of Maria Gonzalez's worries and the potential employment law responsibility under Title VII. Future employment law claims can be reduced by responding to Maria's complaint, performing a comprehensive investigation, and putting measures in place to raise diversity awareness. eHarbour can demonstrate its dedication to preserving employee rights and preventing discriminatory practices by promoting an inclusive and courteous workplace.
If you have any additional questions or need help with this, don't hesitate to get in touch.
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How Dollar Tree is going to make an expansion of private label merchandise?
Some general insights into how retailers typically expand their private label merchandise.
Private label merchandise refers to products that are branded and sold exclusively by a particular retailer, rather than by a third-party manufacturer. Retailers often create private label brands as a way to differentiate themselves from competitors and increase profit margins. Private label products can be priced lower than branded products, allowing the retailer to offer more affordable options to consumers while still earning a healthy profit.
To expand its private label merchandise, Dollar Tree may take several steps, such as:
Conducting market research: The company may conduct consumer surveys, analyze sales data, and monitor trends in the retail industry to identify gaps in the market and opportunities for new private label products.
Developing new products: Based on market research findings, Dollar Tree may work with manufacturers to develop new private label products that meet consumer needs and preferences. They may also consider partnerships with other companies to develop exclusive products.
Enhancing existing product lines: Dollar Tree may also focus on improving and expanding its existing private label product lines, using customer feedback and analytics to refine product formulations, packaging, and pricing.
Marketing and promotion: Once new private label products are developed, Dollar Tree may invest in marketing and promotion efforts to raise awareness among customers. This could include advertising campaigns, in-store promotions, and social media marketing.
Overall, expanding private label merchandise can be a sound business strategy for retailers like Dollar Tree. By offering exclusive products at competitive prices, they can differentiate themselves from competitors, build customer loyalty, and increase profitability.
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Fruit Fusions Incorporated (FFI) manufactures industrial gold press machines for the food service industry. They currently apply overhead at a rate of 60% of machine hours. FFI currently purchases a component for $115, they are considering making the component themselves. Manufacturing the component will incur the following costs: direct materials: $33, direct labor: $55, and incremental overhead of $12. Should the company make or buy the component?
To determine whether Fruit Fusions Incorporated (FFI) should make or buy the component, we need to compare the costs of manufacturing it in-house versus purchasing it.
Cost of purchasing the component:
Purchase cost per unit: $115
Cost of manufacturing the component:
Direct materials: $33
Direct labor: $55
Incremental overhead: $12
Total cost of manufacturing per unit: $33 + $55 + $12 = $100
Comparing the costs: If FFI purchases the component, the cost per unit is $115.
If FFI manufactures the component in-house, the cost per unit is $100.
Based on cost alone, it is more cost-effective for FFI to manufacture the component themselves, as the cost per unit is lower at $100 compared to the purchase cost of $115.
However, other factors should also be considered, such as the company's capacity, expertise, and potential impact on core operations. If FFI has excess capacity, skilled labor, and the manufacturing process does not hinder their primary operations, it may be beneficial for them to make the component in-house.
Ultimately, the decision should be based on a comprehensive analysis of all relevant factors, including cost, capacity, expertise, and strategic considerations.
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Under the cost method, when dividends are received, a company would:
A) CR. Stock Investments
B) CR. Dividend Revenue
C) DR. Stock Investments
D) Record it only when 50% or more of the shares are owned.
E) None of the other options.
C) DR. Stock Investments
Under the cost method, when dividends are received, a company would debit the Stock Investments account to record the reduction in the carrying value of the investment.
Under the cost method of accounting for investments in stock, dividends received are recorded by debiting the Stock Investments account. Therefore, the correct option is C) DR. Stock Investments.
The cost method is used when an investor has significant influence but not control over the investee company. Under this method, the initial investment is recorded at cost and subsequently adjusted for equity in earnings or losses of the investee. Dividends received from the investee are not recognized as revenue but rather as a return of investment.
When dividends are received, the journal entry would be:
DR. Stock Investments
CR. Cash
By debiting the Stock Investments account, the company reduces the carrying value of its investment in the investee company, reflecting the return of a portion of the investment through dividends.
It is important to note that the specific account names may vary based on the company's chart of accounts or industry practices, but the concept remains the same. The key point is that dividends received are not recorded as revenue under the cost method, but rather as a reduction in the investment account.
Under the cost method, when dividends are received, a company would debit the Stock Investments account to record the reduction in the carrying value of the investment. This treatment reflects that dividends are considered a return of investment rather than revenue.
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On January 2, 2021, Sheridan Company issued a 5-year, $9,140,000 note at LIBOR with interest paid annually. The variable rate is reset at the end of each year. The LIBOR rate for the first year is 6.8% Sheridan Company decides it prefers fixed-rate financing and wants to lock in a rate of 7%. As a result, Sheridan enters into an interest rate swap to pay 7% fixed and receive LIBOR based on $9,140,000. The variable rate is reset to 7.4% on January 2,2022 . Compute the net interest expense to be reported for this note and related swap transactions as of December 31,2021. Net interest expense $
The net interest expense for the note and swap transactions as of December 31, 2021, is -$55,040. This indicates that Sheridan Company received more interest from the swap than it paid on the note, resulting in a net interest benefit.
To compute the net interest expense for the note and swap transactions as of December 31, 2021, we need to calculate the interest expense on the note and the interest received from the swap.
The interest expense on the note can be calculated using the following formula:
Interest Expense = Principal * Interest Rate
For the first year, the principal is $9,140,000, and the interest rate is 6.8%. Therefore, the interest expense on the note for the first year is:
Interest Expense = $9,140,000 * 6.8% = $621,520
Now let's calculate the interest received from the swap. Since Sheridan entered into an interest rate swap to pay a fixed rate of 7% and receive LIBOR, the interest received from the swap is based on the LIBOR rate.
The LIBOR rate for the second year is given as 7.4%. Therefore, the interest received from the swap for the second year is:
Interest Received from Swap = Principal * LIBOR Rate
Interest Received from Swap = $9,140,000 * 7.4% = $676,560
Finally, we can calculate the net interest expense by subtracting the interest received from the swap from the interest expense on the note:
Net Interest Expense = Interest Expense - Interest Received from Swap
Net Interest Expense = $621,520 - $676,560 = -$55,040
The net interest expense to be reported for this note and related swap transactions as of December 31, 2021, is -$55,040. This negative value indicates that Sheridan Company received more interest from the swap than it paid on the note, resulting in a net interest benefit.
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Which of the following should theoretically increase the value
of stocks?
Group of answer choices
Lower risk
Lower growth
Lower operating margins
Lower dividends
Lower risk and higher growth are factors that theoretically increase the value of stocks, while lower operating margins and lower dividends do not necessarily have a direct impact on stock value.
Lower risk: When the perceived risk associated with investing in a particular stock decreases, investors may be more willing to buy and hold the stock, leading to increased demand and potentially driving up the stock's value.
Higher growth: Companies with strong growth prospects and potential for increased earnings in the future tend to attract more investors, which can increase the demand for their stocks and subsequently raise their value.
Lower operating margins: Lower operating margins, which indicate lower profitability, may have a negative impact on a company's stock value. Investors typically prefer companies with healthy profit margins as it indicates financial stability and the potential for higher returns.
Lower dividends: Lower dividends may not necessarily directly impact a stock's value. Dividends are the portion of a company's earnings distributed to shareholders, and while they can attract income-focused investors, the absence of dividends or lower dividend payments may not necessarily decrease a stock's value if the company is reinvesting earnings into growth opportunities.
It's important to note that the value of stocks is influenced by a wide range of factors, including market conditions, economic trends, company performance, and investor sentiment. The relationship between these factors and stock value can be complex and may vary depending on specific circumstances.
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Adjusting entries are necessary in order to: MULTIPLE CHOICE
A. Properly measure the period's income.
B. Bring asset accounts to correct balances.
C. Bring liability accounts to correct balances.
D. All of the above.
Adjusting entries are necessary in order to bring asset accounts to correct balances. They are necessary to properly measure the period's income and bring liability accounts to correct balances. Thus, the correct option among the given alternatives is D. All of the above.
In financial accounting, adjusting entries are journal entries that are made at the end of the accounting period to modify the balances of certain accounts. This is necessary to update the account balances that have been left out during the accounting cycle.
The adjusting entries are required because the transactions may have occurred during the period, but the accounting entries would not have been recorded yet.The main objective of making the adjusting entries is to bring the asset and liability accounts to their correct balances and to report the correct amount of revenue and expenses in the correct period.
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Provide two examples and explanations of how using the sharing economy contributes benefits to a circular economy.
Two examples of how using the sharing economy contributes benefits to a circular economy are as follows: Example 1: Car-sharing and Example 2: Clothing-sharing.
The sharing economy contributes significantly to the circular economy. A circular economy is an economic system in which the reuse, repair, refurbishment, and recycling of products and materials are prioritized, keeping them in the economy for as long as possible. The sharing economy has led to the development of car-sharing services. With the increased popularity of ride-sharing services like Uber, Lyft, and others, the market for car-sharing services has increased in recent years.
Clothing-sharingThe sharing economy has led to the development of clothing-sharing services. Clothing-sharing services enable people to rent or exchange clothes with each other, enabling more efficient use of clothes that are already in the market. This is an excellent way to promote circular economy practices, where clothes can be reused, recycled, or repurposed instead of being disposed of.
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Randy hates studying both economics and history. The more time he spends studying either subject, the less happy he is. But Randy has strictly convex preferences. (a) Sketch an indifference curve for Randy where the two commodities are hours per week spent studying economics and hours per week spent studying history. Will the slope be positive or negative? (b) Do Randy's indifference curves get steeper or flatter as you move from left to right along one of them?
Since Randy hates studying both economics and history, the indifference curve will be downward sloping and concave to the origin.
This reflects Randy's diminishing marginal rate of substitution between the two subjects. As Randy spends more time studying one subject, he requires a higher compensation in terms of the other subject to maintain the same level of happiness. Therefore, the slope of the indifference curve will be negative.
As you move from left to right along one of Randy's indifference curves, the curves will become steeper. This is because of the diminishing marginal rate of substitution. As Randy allocates more time to studying one subject, the marginal benefit he receives from allocating additional time to the other subject decreases. Therefore, Randy will require a greater increase in the other subject to offset the decrease in happiness from studying more of the first subject. This results in steeper indifference curves.
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What can organizations do to prevent sexual harassment? Does the current legal environment place unfair burdens on organizations to prevent harassment? Explain why or why not using ethical reasoning and/or theory.
Sexual harassment is a type of workplace harassment that can occur in any workplace environment. It is unlawful and goes against human dignity. Therefore, it is essential for every organization to adopt policies and measures that prevent sexual harassment.
There are several ways that organizations can use to prevent sexual harassment. They include;1. Develop a policy against sexual harassment- Organizations must develop a comprehensive policy that defines the type of behaviors that constitute sexual harassment. The policy should explain the process for reporting sexual harassment, investigate claims of sexual harassment, and outline the consequences of engaging in such behavior.2. Provide training to employees- Organizations must provide comprehensive training to all employees regarding sexual harassment. Training helps employees identify different types of sexual harassment, understand the organization's policies and procedures, and how to report any sexual harassment incidents.
3. Establish a reporting procedure-Organizations should establish a reporting procedure that allows employees to report any sexual harassment incidents. They should provide employees with multiple reporting options and ensure the confidentiality of the reports.4. Take swift action-Organizations should take swift action when an employee reports an incident of sexual harassment. They must investigate the matter and take necessary disciplinary action against the perpetrator to prevent future incidents. The legal environment places fair burdens on organizations to prevent sexual harassment. Organizations have a legal responsibility to create a work environment that is free from sexual harassment.
The burden of preventing sexual harassment is not only a legal obligation but also a moral obligation. Therefore, it is the responsibility of every organization to take proactive measures to prevent sexual harassment and ensure that employees feel safe and secure. Failure to comply with the legal requirement could result in severe legal consequences and damage to the organization's reputation.
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The price of a bond is $1,290 which pays 7.5% coupon rate. Yield to maturity is 4.771%. Find how many years the bond is till maturity. 30 18 022 028 15
The bond has 18 years till maturity.
Given:
Bond price = $1,290
Coupon rate = 7.5% or 7.5/100 = 0.075
Yield to maturity = 4.771% or 4.771/100 = 0.04771
To find the number of years till maturity, we can use the bond pricing formula:
Bond price = (Coupon payment / (1 + Yield)¹ + Coupon payment / (1 + Yield)² + ... + Coupon payment / (1 + Yield)ⁿ) + Face value / (1 + Yield)ⁿ
Since the bond pays a fixed coupon rate, we can rewrite the formula as:
Bond price = (Coupon payment * (1 - (1 + Yield)⁻ⁿ) / Yield) + Face value / (1 + Yield)ⁿ
We know the bond price ($1,290) and the yield (0.04771), but the coupon payment and face value are not given. Therefore, we cannot directly solve for the number of years till maturity (n). Without the missing values, it is not possible to determine the exact number of years.
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Choose one of the organizations to use for all weekly assessments. You will not be able to change your organization, so make sure you are comfortable with your choice.Use the Degree of Alignment: Advanced Organizer template to: Describe the mission, vision, values, structure, and culture of the company. Each description should be 75-100 words. Based on your advanced organizer and further research on your company, analyze the degree of alignment between what the organization is currently doing (actions) and their mission, vision, values, structure, and culture. Think about what your company is doing right and on-brand and where there is room for improvement. Your analysis should be 500-750 words. Note: An organization is typically centered on its mission and vision, but it may not always do as its statement says. The company I chose was Tesla
To analyze the degree of alignment, you can follow these steps: Mission, Vision, and Values: Review Tesla's official mission, vision, and values statements.
Assess how well the company's actions align with these statements. Look for evidence of initiatives, strategies, and decisions that reflect the core purpose, aspirations, and values outlined in the mission, vision, and values statements. Structure: Examine Tesla's organizational structure, including its hierarchy, departments, and reporting lines. Consider whether the structure supports the achievement of the company's mission, vision, and values. Evaluate if the structure encourages collaboration, innovation, and efficient decision-making. Culture: Investigate Tesla's organizational culture, which refers to its shared values, beliefs, and practices. Analyze how the company's actions reflect and reinforce its desired culture. Look for signs of a culture that promotes innovation, sustainability, customer-centricity, and employee empowerment. Alignment Assessment: Compare the findings from the previous steps to identify areas of alignment and misalignment. Highlight instances where Tesla's actions align well with its mission, vision, values, structure, and culture. Also, identify areas where improvement or realignment may be needed.
Recommendations for Improvement: Based on the analysis, provide recommendations for enhancing alignment within Tesla. Identify specific actions, strategies, or initiatives that can help strengthen alignment between the organization's stated objectives and its actual practices. Consider factors such as communication, leadership, employee engagement, and operational practices.
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one of Mr Bunda's challenges was a lack of
understanding of the role of a literature review.explain the
approach to critically reviewing literature.
A critical review of literature entails a comprehensive analysis of the existing literature to assess the quality, accuracy, and validity of previous research. It entails a thorough examination of the study's methodological procedures, data collection, analysis, and interpretation. The goal of a critical literature review is to identify gaps in the existing literature that the researcher can fill and to identify areas of agreement and disagreement among researchers in the field.
A literature review is a comprehensive summary and analysis of the available literature on a particular topic. The following is an approach to critically reviewing the literature. What is a literature review? A literature review is a comprehensive study of the existing literature on a particular topic. Literature reviews are typically included in a research paper, thesis, or dissertation to provide the reader with a context for the study, demonstrate the author's knowledge of the field, and establish the significance of the research question. A well-written literature review establishes the background and context for the study, allowing the reader to understand the significance of the research question.
Critical Reviewing Approach: A critical review of literature entails a comprehensive analysis of the existing literature to assess the quality, accuracy, and validity of previous research. It entails a thorough examination of the study's methodological procedures, data collection, analysis, and interpretation. The goal of a critical literature review is to identify gaps in the existing literature that the researcher can fill and to identify areas of agreement and disagreement among researchers in the field.
The following are some critical reviewing approaches:
1. Define the Research Question: A researcher must first define their research question, objectives, and the scope of their research. This information will assist the researcher in identifying the appropriate literature to review.
2. Identify relevant literature: The researcher must identify and collect all of the relevant literature related to their research question.
3. Analyze and Evaluate the literature: The researcher must critically examine the literature to evaluate its quality, accuracy, and relevance to the research question.
4. Synthesize the Literature: Once the researcher has critically examined and evaluated the literature, they must synthesize their findings to determine what the literature indicates about the research question.
5. Develop a Conclusion: The researcher should conclude their literature review by identifying gaps in the literature, areas of agreement, and disagreement, and areas in which the researcher can contribute new knowledge to the field.
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On 10/1/20, ABC Inc purchased equipment for $240,000. The equipment had an estimated salvage value of $20,000 and a useful life of 5 years. ABC uses the double declining balance depreciation method. On 1/1/22, the equipment was sold for $75,000. How much was the loss on the sale of the equipment?
a) $43,800 b) $11,400 c) $4,200 d) $54,600
Book value of the asset at the beginning of year 3 = $240,000 - $153,600 = $86,400As the asset was sold for $75,000, there is a loss on sale of asset = $86,400 - $75,000 = $11,400. Hence, the answer is (b) $11,400.
The cost of equipment: $240,000Salvage Value of Equipment: $20,000Useful Life: 5 years Double-declining balance depreciation method is used. Depreciation Rate = (100% / Useful Life) * 2Depreciation Rate = (100% / 5) * 2Depreciation Rate = 40%Depreciation for the year 2020 = $0Depreciation for the year 2021 = ($240,000 - $20,000) * 40% = $88,000Book Value of Equipment as of 12/31/21 = $240,000 - $88,000 = $152,000After selling the equipment, the company will recognize the gain or loss based on the difference between the book value of the asset sold and the proceeds from the sale. The loss on sale is calculated as follows: Loss on Sale = Book Value of Asset - Proceeds from Sale Loss on Sale = $152,000 - $75,000 = $77,000The correct answer is (d) $54,600. Answer verification: If we calculate the double declining balance for 2 years, we get the depreciation as follows: Year 1: 2 x (1/5) x $240,000 = $96,000Year 2: 2 x (1/5) x ($240,000 - $96,000) = $57,600Depreciation over two years = $96,000 + $57,600 = $153,600
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CHAPTER 33 gives you a brief overview of Workers’ Compensation law. Workers' compensation, commonly referred to as "workers comp," is a government-mandated program that provides benefits to workers who become injured or ill on the job or as a result of the job. It is effectively a disability insurance program for workers, providing cash benefits, healthcare benefits, or both to workers who suffer injury or illness as a direct result of their jobs.
Oftentimes, questions arise as to whether or not an injury qualifies under workers compensation. Consider the following two scenarios. Use your textbook and information about workers’ compensation law found on the internet. Then make an argument for each scenario on why or why not the injury qualifies for workers’ compensation.
Scenario 1:
Jane is traveling from her residence to her place of work. She is running late and texts her supervisor while driving to let her know that she will be a little late. Jane then hits the back of another vehicle because she was looking down to text. Luckily, the driver of the other vehicle was unharmed. However, Jane broke her arm. Does Jane’s injury qualify for workers’ compensation, why or why not?
Scenario 2:
Keith is responsible for transporting goods to several businesses. He is running late on one of his deliveries and decides to text the business owner to let him know that he is running late. Keith has a car accident while transporting the goods. He admitted to the driver of the car he hit that he was looking at his phone when the accident occurred. The other driver is unharmed, but Keith is now complaining of back pain. Does Keith’s injury qualify for workers’ compensation?
The purpose of this discussion is to have a good understanding of what constitutes a Workers' Compensation law and why it is important.
Jane's injury does not qualify for workers' compensation as it occurred during her commute to work, which is typically not considered within the scope of employment.
Scenario 1: Jane's injury does not qualify for workers' compensation. Workers' compensation generally covers injuries or illnesses that occur as a direct result of the job or while performing work-related tasks. In this scenario, Jane's injury occurred during her commute to work, which is typically not considered within the scope of employment. The fact that she was texting while driving and caused the accident further supports the argument that the injury was not job-related.
Scenario 2: Keith's injury may qualify for workers' compensation. While it depends on the specific laws and regulations in the jurisdiction, Keith's situation has a stronger argument for workers' compensation compared to Jane's scenario. Keith was on the job and engaged in work-related tasks by transporting goods for his employer. Although he caused the accident due to texting, the back pain he is experiencing may be seen as an injury directly resulting from the accident, which occurred while performing his job duties.
Workers' compensation laws vary by jurisdiction, but generally, they aim to protect workers by providing financial assistance and medical benefits when they suffer job-related injuries or illnesses. These laws are important because they establish a system of support and protection for workers, ensuring that they receive necessary medical treatment and financial compensation without having to go through lengthy legal battles or proving fault. Workers' compensation helps promote workplace safety, as employers are incentivized to maintain safe working conditions and prevent accidents and injuries. It provides a safety net for workers, helping them recover and return to work while receiving the benefits they need to cover their medical expenses and support themselves during their recovery period.
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Using First-In-First-Out method in process costing, the work in progress at 1 point the end of the process will come from which units? OA. Beginning units in process and units completed OB. Beginning
he work in progress at the end of the process using the First-In-First-Out (FIFO) method will come from the beginning units in process.
In process costing, the First-In-First-Out (FIFO) method assumes that the first units started in production are the first ones to be completed. According to this method, the cost of the units that are in process at the end of the process will be attributed to the beginning units in process.
The FIFO method follows the principle that the costs associated with the earliest units worked on are incurred first and should be assigned to the units completed first. As a result, the cost of the beginning units in process will be accounted for before the costs of any subsequent units that entered the production process.
This means that the work in progress at the end of the process will be comprised of the units that were already in process at the beginning of the accounting period. These units have partially completed their production process but have not yet been finished.
By using the FIFO method, companies can ensure that the costs associated with the beginning units in process are properly allocated to the completed units, providing a more accurate representation of the costs incurred during the production process.
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The amount a person would have to deposit today (present value) at a 10 percent interest rate to have $3,100 five years from now Numeric Response
The amount a person would have to deposit today at a 10 percent interest rate to have $3,100 five years from now is approximately $1,923.62.
To calculate the present value at a 10 percent interest rate, we can use the formula for present value of a future amount:
Present Value = Future Value / (1 + Interest Rate)^Number of Periods
In this case, the future value is $3,100, the interest rate is 10 percent, and the number of periods is 5 years.
First, let's calculate the value inside the parentheses:
(1 + 0.10)^5 = 1.61051
Now, we can divide the future value by the value inside the parentheses:
Present Value = $3,100 / 1.61051
Calculating this, we get:
Present Value ≈ $1,923.62
So, the amount a person would have to deposit today at a 10 percent interest rate to have $3,100 five years from now is approximately $1,923.62.
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Wildhorse Kicks Co. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows. Men's Shoes Operating Data Women's Shoes Children's Shoes Contribution margin $302,000 (3) $242,000 141,000 (4) (5) Controllable fixed costs Controllable margin (1) $101,000 107,000 Sales 833,000 513,000 (6) Variable costs (2) 341,000 261,000 Prepare a responsibility report for the Women's Shoe Division assuming (1) the data are for the month ended June 30, 2022, and (2) all actual data equal budgeted data except variable costs which are $23,000 over budget. WILDHORSEKICKS CO. Women's Shoe Division Responsibility Report For the Month Ended June 30, 2022 Difference Favorable (F) Unfavorable (U) Not Applicable (NA) Budget Actual riable Costs ✓ $ $ $ $ iles ontrollable Margin ontrollable Fixed Costs ontribution Margin $ $ $ $ $
An organizational unit or responsibility centre within a company's performance is detailed in a responsibility report, which is a management report. WILDHORSE KICKS CO.Women's Shoe Division Responsibility Report For the Month Ended June 30, 2022
Controllable margin = Contribution margin - Controllable fixed costs
Controllable margin = $242,000 - $107,000
Controllable margin = $135,000
Variable costs = Budgeted variable costs + Variable costs variance
Variable costs = $261,000 + $23,000
Variable costs = $284,000
Budgeted sales = Actual sales Controllable margin percentage
Controllable margin ÷ Sales Controllable margin percentage
= $135,000 ÷ $513,000
Controllable margin percentage = 26.33%
Wildhorse Kicks Co. Women's Shoe Division Responsibility Report For the Month Ended June 30, 2022
Difference Favorable (F) Unfavorable (U) Not Applicable (NA) Budget Actual Variable Costs $284,000$284,000
Controllable Margin 26.33%
Fixed Costs $107,000
Contribution Margin$242,000
The responsibility report for the Women's Shoe Division of Wildhorse Kicks Co. is given above. The variable costs are $23,000 over budget. Hence, the favourable or unfavourable difference can't be computed because there is no data available for budgeted variable costs. Hence, the solution is: N.A.
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What does the thin skull rule pertain to?
A. The defendant cannot argue that the plaintiff suffered a brain injury due to a pre-existing condition or state, and therefore is fully responsible for all of the damage that ensued.
B. The plaintiff suffered a brain injury due to a pre-existing condition or state and therefore the defendant is not fully responsible for all of the damage that ensued.
C. The plaintiff suffered a pre-existing condition or state and therefore the defendant is not fully responsible for any of the damage as it would most likely have happened anywhere.
The thin skull rule pertains to option A. According to this legal doctrine, the defendant cannot argue that the plaintiff suffered a brain injury due to a pre-existing condition or state, and therefore is fully responsible for all of the damage that ensued.
The thin skull rule is a principle in tort law that states that a defendant is liable for the full extent of harm caused to the plaintiff, even if the plaintiff had a pre-existing condition or susceptibility that made them more vulnerable to the injury. Essentially, it means that the defendant must take the plaintiff as they find them, "with a 'thin skull'." In other words, the defendant is responsible for the actual harm caused, regardless of the plaintiff's pre-existing condition.
This rule is based on the idea that defendants should be held accountable for the consequences of their actions, regardless of the vulnerability or fragility of the injured party. It prevents defendants from escaping liability by arguing that the plaintiff's injuries would not have been as severe or would not have occurred at all if the plaintiff did not have a pre-existing condition. Instead, the defendant is responsible for the full extent of the harm caused, regardless of the plaintiff's condition prior to the incident.
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What would you want to know before buying an existing business? This would break into information you would want to know before ever tipping your hand, what you'd want the broker representing the sale to have available for you before opening negotiations, what you'd want the current owner to answer when you meet, and what you'd want after seeing the premises and owner. Write a report and indicate why each item should be found out when you say it should, as well, or course, of what you want to learn to make your decision.
When buying an existing business, there are important questions you should ask before making any commitment. The following are the information you need to know before tipping your hand, what you'd want the broker representing the sale to have available for you before opening negotiations.
Information you would want to know before ever tipping your handA. Determine why the owner is selling the business.B. Find out the history and reputation of the business.C. Get the financial reports and other documents related to the business.D. Research the market in the area where the business is located.2. What you'd want the broker representing the sale to have available for you before opening negotiationsA.
Evaluating the business's financial reports and other documents, including patents and licenses, will help you determine whether the business has any outstanding debts or legal issues. Asking the right questions and getting the right information will ensure that you make an informed decision when purchasing a business.
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G7 Profit and Loss Statement Week Ending March 24, 2014 Income: Cash Sales $7260 Expenses: Merchandise $3160 Rent 750 Insurance 240 Licences etc. 90 Tax Remittance 1860 Advertising 200 Depreciation 600 $6900 The owners have put $40,000 into the business and they worked a total of 80 hours during the week. Savings accounts are currently paying 5.2% interest and the going wage rate is $8 per hour.
The net profit for the G7 business for the week ending March 24, 2014, is $360.
To calculate the net profit, we need to subtract the total expenses from the total income:
Total Income:
Cash Sales: $7,260
Total Expenses:
Merchandise: $3,160
Rent: $750
Insurance: $240
Licences etc.: $90
Tax Remittance: $1,860
Advertising: $200
Depreciation: $600
Total Expenses: $6,900
Net Profit = Total Income - Total Expenses
Net Profit = $7,260 - $6,900
Net Profit = $360
Additionally, it is mentioned that the owners put $40,000 into the business and worked a total of 80 hours during the week. However, these pieces of information do not affect the calculation of the net profit.
The G7 business generated a net profit of $360 for the week ending March 24, 2014.
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The costume division for Moira's Cabaret has been losing money monthly and the company decided to discontinue the division on January 1, 2021. During 2021 , the company was unable to find a buyer for the costume division and the division had pre-tax losses of $70,000 each month. Assuming that Moira's Cabaret reported pre-tax income of $11,600,000 from all operations, prepare a partial income statement for the company for 2021. Begin with income from continuing operations net of tax (after tax) by filling in the correct values for each line. Assume a 30% tax rate. Input your answers with no dollar signs and round to the nearest dollar. Use a minus sign to indicate negative numbers. Income from continuing operations, net of tax Discontinued operations: Income from discontinued operations, net of tax Net income
Moira's Cabaret reported income from continuing operations, net of tax, of $8,120,000 for 2021. The income from discontinued operations, net of tax, is -$840,000. The net income for the company in 2021, considering both continuing and discontinued operations, is $7,280,000.
To prepare the partial income statement for Moira's Cabaret for 2021, we start with the reported pre-tax income from continuing operations, which is $11,600,000. To find the income from continuing operations, net of tax, we need to apply the tax rate of 30%.
Income from continuing operations, net of tax, can be calculated as follows:
Income from continuing operations, net of tax = Pre-tax income from continuing operations - (Pre-tax income from continuing operations * Tax rate)
Income from continuing operations, net of tax = $11,600,000 - ($11,600,000 * 0.30)
Income from continuing operations, net of tax = $11,600,000 - $3,480,000
Income from continuing operations, net of tax = $8,120,000
Next, we need to consider the discontinued operations. The costume division of Moira's Cabaret had pre-tax losses of $70,000 each month, which results in a total pre-tax loss of $70,000 * 12 = $840,000 for the year. Since it's a loss, we don't apply the tax rate.
Finally, to calculate the net income, we add the income from continuing operations, net of tax, to the income from discontinued operations, net of tax:
Net income = Income from continuing operations, net of tax + Income from discontinued operations, net of tax
Net income = $8,120,000 + (-$840,000)
Net income = $7,280,000
Thus, the net income for Moira's Cabaret in 2021, considering both continuing and discontinued operations, is $7,280,000.
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A Wiggins, L. Stokes, and K. Hayes are forming a partnership. Wiggins is transferring $75,000 of personal cash to the partnership. Stokes owns land worth $24,000 and a small building worth $110.000, which she transfers to the partnership. Hayes transfers to the partnership cash of $17.500, accounts receivable of $47,700 and equipment worth $30,000. The partnership expects to collect $45.000 of the accounts receivable. (a) Prepare the journal entries to record each of the partners' investments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries) Account Titles and Explanation Debit Credit
To record each partner's investment in the partnership, we need to create journal entries. Here are the entries for each partner:
1. Wiggins' investment:
Debit: Cash $75,000
Credit: Wiggins' Capital $75,000
2. Stokes' investment:
Debit: Land $24,000
Building $110,000
Credit: Stokes' Capital $134,000
3. Hayes' investment:
Debit: Cash $17,500
Accounts Receivable $47,700
Equipment $30,000
Credit: Hayes' Capital $95,200
Please note that the account titles used in the entries may vary based on the specific chart of accounts used by the partnership.
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Which ratio provides a tie between the income statement and the balance sheet.
Group of answer choices
operating margin
gross margin
asset turnover
debt to equity
There are two things a firm can do with its profit, one is pay dividends. The other is _________ ?
Group of answer choices
buy cookies
retain it
buy stock
buy zingers
Emmerson said "foolish consistency is the hobgoblin of little minds". Clearly he was referring to _______________________ .
Group of answer choices
research analysts
accountants
investment managers
investment bankers
Current liabilities are listed in order of their _________________________ .
Group of answer choices
legal claim
liquidity
age
importance
If there is a difference between a firm's return on assets and return on equity, it is likely due to gross margin.
Group of answer choices
True
False
the correct answer is Option D. Ratio provides a tie between the income statement and the balance sheet is debt to equity ratio. The correct Option is B. There are two things a firm can do with its profit, one is pay dividends. The other is retain it. Current liabilities are listed in order of their liquidity.
The ratio that provides a tie between the income statement and the balance sheet is Debt to Equity Ratio.
Debt to Equity Ratio: Debt to equity ratio is one of the significant financial ratios that measures the financial leverage of the company.
This ratio measures how much money is financed by the company's equity and how much money is financed by the company's debt.
The formula for calculating the debt to equity ratio is as follows:Debt to Equity Ratio = Total Debt / Total Equity
The debt to equity ratio is a significant ratio because it helps investors and creditors understand the level of risk involved in investing or loaning to a company.
The debt to equity ratio of a company helps creditors determine the probability of getting their money back if the company defaults or goes bankrupt.
The higher the debt to equity ratio, the higher the risk, and the lower the debt to equity ratio, the lower the risk.
The other is retain it.
After-tax profits can be retained within the company instead of being distributed as dividends.
These profits are referred to as retained earnings, and they are an important source of funds for future investments and expansion. Retained earnings can be used to finance future growth or pay off debt obligations.
It is an important metric for shareholders because it indicates that the company is profitable, and management is doing a good job of creating shareholder value.
Emerson's statement "foolish consistency is the hobgoblin of little minds" refers to people who adhere to certain beliefs or actions without questioning their validity.
This means that they follow certain rules or principles blindly without understanding their true meaning.
They do not think critically or question what they are told. In contrast, people with open minds are more willing to question assumptions and beliefs and are less likely to follow rules blindly.
They are more likely to find creative solutions to problems and achieve success in their endeavors.
This statement applies to all professions, including research analysts, accountants, investment managers, and investment bankers.
Current liabilities are listed in order of their liquidity.
Current liabilities are short-term debts that must be paid off within a year or less.
These debts are listed in order of their liquidity, which means the ease with which they can be converted into cash.
The most liquid current liabilities are listed first, followed by less liquid liabilities.
This order of listing current liabilities helps investors and creditors determine the ability of the company to meet its short-term obligations and manage its cash flow.
Therefore, it is important for investors and creditors to consider both ratios when evaluating a company's financial performance.
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The __________ is calculated by dividing the average portfolio excess return by the portfolio beta.
a. CAPM
b. Beta
c. Jensen ratio
d. Sharpe ratio
e. Treynor ratio
f. None of the above
g. All of the above
The correct answer is e. Treynor ratio. The Treynor ratio is a performance measure that assesses the risk-adjusted returns of a portfolio by comparing the excess return to the portfolio beta.
The Treynor ratio is a risk-adjusted performance measure used in finance. It is calculated by dividing the average portfolio excess return by the portfolio beta. The Treynor ratio helps investors evaluate the returns earned from a portfolio relative to the amount of systematic risk (as measured by beta) undertaken to achieve those returns. It is particularly useful when comparing different portfolios or investment strategies.
The formula for the Treynor ratio is as follows:
Treynor ratio = (Portfolio Return - Risk-Free Rate) / Portfolio Beta
By dividing the excess return (the portfolio return minus the risk-free rate) by the portfolio beta, the Treynor ratio quantifies the amount of excess return generated per unit of systematic risk. A higher Treynor ratio indicates better risk-adjusted performance, as it suggests that the portfolio has generated more excess return relative to the amount of risk taken.
It's important to note that the Treynor ratio focuses solely on systematic risk or market risk, which cannot be diversified away. It does not consider unsystematic risk or idiosyncratic risk, which can be eliminated through diversification. Therefore, the Treynor ratio is most suitable for evaluating the performance of diversified portfolios or mutual funds, where the unsystematic risk is minimized.
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The government wants to implement a national identification system. Discuss what implications, both positive and negative that this could have on the country's tax system.
Implementing a national identification system can have various implications for a country's tax system. Let's explore the positive and negative implications:
Positive implications:
Improved tax administration: A national identification system can enhance the accuracy and efficiency of tax administration. It can help streamline the process of taxpayer identification, reduce identity fraud, and improve the overall compliance of taxpayers. This can lead to better revenue collection and a more effective tax system.Enhanced data sharing: A national identification system can facilitate seamless data sharing between government agencies, including tax authorities. This can enable better coordination and integration of taxpayer information, leading to more accurate assessments and reduced tax evasion.Targeted enforcement: With a national identification system, tax authorities can more effectively target high-risk taxpayers and suspicious transactions. It can enable the identification of tax evaders and help enforce tax laws more efficiently, ensuring a fairer tax system for all.Negative implications:
Privacy concerns: Implementing a national identification system may raise concerns about privacy and data protection. Citizens may worry about the potential misuse or unauthorized access to their personal information, including their tax records. Adequate safeguards and robust data protection laws need to be in place to address these concerns.Increased compliance burden: The introduction of a national identification system may require individuals and businesses to provide additional information and comply with new reporting requirements. This can increase the administrative burden and costs for taxpayers, especially for small businesses and individuals with limited resources.Access and inclusivity: In some cases, implementing a national identification system may pose challenges in ensuring equal access and inclusion for all citizens. Ensuring that all individuals, regardless of socioeconomic status or geographical location, can obtain the required identification can be a significant task. Excluding certain segments of the population from the tax system can undermine fairness and equity.Implementation challenges: Establishing a robust national identification system requires significant investments in technology, infrastructure, and administrative capacity. The process of integrating various government databases and ensuring data accuracy can be complex and time-consuming. Adequate resources and expertise must be allocated to overcome these implementation challenges.Overall, while a national identification system can bring positive improvements to a country's tax system, it is crucial to address the potential negative implications. Balancing the benefits with privacy protection, inclusivity, and efficient implementation is essential to create a tax system that is fair, effective, and trusted by citizens.
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The estimation of a project's net investment and net annual cash flows
Consider the case of Collins Construction Co.:
Collins Construction Co. currently earns annual revenues of $350,000 and incurs total operating expenses (excluding depreciation and interest expense) of 45.00% of revenues. Its earnings are taxed at a rate of 40%.
Today, its budgeting committee is evaluating the purchase of a new forklift. The forklift is expected to cost $60,000, plus $4,000 in freight and setup expenses, and will be depreciated using straight-line depreciation. It is expected that the forklift will have a useful life of ten years and a salvage value equal to 25.00% of its purchase price of $60,000. It is expected that the forklift will be sold for its book value, such that no capital gain or loss will be realized.
It is further expected that the forklift will cause a 30.00% increase in the firm’s annual sales and total operating expenses (excluding depreciation and interest expense). If the forklift is purchased, the firm will require an additional $10,000 in net working capital (NWC).
Given this information, complete the following analysis:
Question
Answer
What is the annual depreciation expense for the forklift? $4,900
What is the net investment (NINV) of the investment? $74,000
What are the net annual operating after-tax cash flows associated with this project?
What is the project’s last year (terminal) cash flow?
To calculate the net annual operating after-tax cash flows associated with the project, we need to consider the changes in revenues, operating expenses, depreciation, taxes, and net working capital.
1. Change in revenues:
The forklift is expected to cause a 30.00% increase in annual sales. Therefore, the change in revenues will be 30.00% of the current annual revenues of $350,000:
Change in revenues = 30.00% * $350,000 = $105,000
2. Change in operating expenses:
The forklift is also expected to cause a 30.00% increase in total operating expenses. We need to exclude depreciation and interest expense from the calculation. The current operating expenses are 45.00% of revenues, so the change in operating expenses will be:
Change in operating expenses = 30.00% * $350,000 * (1 - 45.00%) = $31,500
3. Depreciation expense:
The forklift is expected to cost $60,000, with a salvage value equal to 25.00% of the purchase price. Therefore, the depreciable base is $60,000 - 25.00% * $60,000 = $45,000. Since the forklift has a useful life of ten years, the annual depreciation expense will be:
Depreciation expense = $45,000 / 10 = $4,500 per year
4. Taxes:
The earnings are taxed at a rate of 40%. We need to calculate the taxes on the incremental earnings generated by the forklift. The incremental earnings are the change in revenues minus the change in operating expenses and depreciation:
Incremental earnings = Change in revenues - Change in operating expenses - Depreciation expense
Incremental earnings = $105,000 - $31,500 - $4,500 = $69,000
Taxes = 40% * $69,000 = $27,600
5. Net working capital (NWC):
The project requires an additional $10,000 in net working capital (NWC).
Now, let's calculate the net annual operating after-tax cash flows:
Net operating cash flow = Incremental earnings - Taxes
Net operating cash flow = $69,000 - $27,600 = $41,400
The net investment (NINV) of the investment is the initial investment plus the net working capital (NWC):
NINV = Initial investment + NWC
NINV = $60,000 + $4,000 + $10,000 = $74,000
The project's last year (terminal) cash flow will be the salvage value of the forklift:
Terminal cash flow = Salvage value of forklift
Terminal cash flow = 25.00% * $60,000 = $15,000
Therefore, the net annual operating after-tax cash flows associated with this project are $41,400 per year, and the project's last year (terminal) cash flow is $15,000.
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ompany U has accounts $2,000,000 receivable and $40,000 related allowance account. Accounts receivables were estimated to be 3% uncollectible. Foster Co. adjusted its allowance for uncollectible accounts at year-end using the estimated percentage of uncollectible. What would be the adjustment to allowance for uncollectible accounts at year-end?
A. $60,000 decrease
B. $10,000 decrease
C. $10,000 increase.
D. $20,000 increase.
The estimated percentage of uncollectible accounts is already factored into the allowance, the adjustment required to bring the allowance account to the necessary level would be $20,000 increase (option D).
The adjustment to allowance for uncollectible accounts at year-end would be $10,000 increase. Given that the company U has accounts $2,000,000 receivable and $40,000 related allowance account. Accounts receivables were estimated to be 3% uncollectible.
The allowance for uncollectible accounts is calculated as follows;3% of $2,000,000 is:$2,000,000 × 3% = $60,000The current allowance is $40,000, so the adjustment will be the difference between the current allowance and the calculated allowance.$60,000 - $40,000 = $20,000
Hence, option D is the correct answer.
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