The three main conduct expectations identified in the Generally Accepted Auditing Standards (GAAS) are independence, due care, and technical training and proficiency.
Independence requires the auditor to maintain an objective and impartial attitude throughout the audit process, avoiding any relationships or situations that could compromise their objectivity. Due care requires the auditor to exercise professional skepticism and diligence in planning, performing, and reporting on the audit.
Technical training and proficiency require the auditor to possess the necessary knowledge, skills, and expertise to effectively carry out the audit engagement, staying current with industry developments and professional standards. These conduct expectations serve as a foundation for ensuring the quality and integrity of audit engagements.
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--The complete question is, What are the three main conduct expectations identified in the Generally Accepted Auditing Standards (GAAS)?--
Which of these might be an example of an advertiser's target group?
The example of an advertiser's target group is B.people the advertisers know nothing about.
What is advertiser's target group?The target audience an be desribed as the specific group of consumers that is in the position whereby they are the most likely to want the product or service, ther is been advertised and they can be considered as the people who should see the ad campaigns.
Ity shouldbe noted that the Target audience can be seen by using the gender, income, location, as well as interests and age which could depend on the product that is been advertised to them them.
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missing options;
A.People who have no access to media
B.people the advertisers know nothing about
C. People who watch a variety of TV shows
D. People who live in the same region of the country
1.Explain where the market equilibrium occurs.
2.How do we show equilibrium graphically?
3.Share an example from your own experience when the market was not in equilibrium for a product or service.
4.Explain why the market was out of equilibrium (what caused it to be out of equilibrium) and what needed to be done to bring the market back to equilibrium.
Answer:
because they are well known
Why are corporations considered legal persons?
Corporate personhood, also known as juridical personality, refers to the legal idea that a juridical person, such as a corporation, has at least some of the legal rights and obligations possessed by natural people, apart from its related human individuals (such as owners, managers, or workers).
Most nations grant corporations the same rights to own property, engage into contracts, and bring or receive legal action as they do to natural persons. A corporation, sometimes referred to as a C corp, is a separate legal entity from its owners.
Corporations are able to generate revenue, pay taxes, and face legal consequences. The strongest protection against personal responsibility is provided to owners by corporations, although forming a corporation is more expensive than creating other types of entities.
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Why is it important to always use the same fiscal periods year after year
when creating financial documents?
A. It allows for the use of different forms.
B. It allows for accurate comparisons over time.
OC. You don't have to remember due dates.
D. It allows variation in the length of fiscal periods.
The consistent use of the same fiscal periods can provide a solid foundation for accurate and reliable financial reporting and decision-making. Option B
It is important to always use the same fiscal periods year after year when creating financial documents because it allows for accurate comparisons over time. By consistently using the same fiscal periods, financial statements such as income statements, balance sheets, and cash flow statements can be easily compared year after year. This helps to identify trends in revenue and expenses, as well as track progress towards financial goals.
Using the same fiscal periods also helps to ensure consistency and accuracy in financial reporting. It reduces the risk of errors and discrepancies that may arise if different fiscal periods are used from year to year. This is especially important for companies that are publicly traded and must adhere to strict financial reporting regulations.
Furthermore, using the same fiscal periods can simplify the process of budgeting and forecasting. It allows for historical data to be used as a basis for future projections, making it easier to anticipate future expenses and revenue.
While using the same fiscal periods does not necessarily eliminate the need to remember due dates for tax filings and other financial reporting requirements, it can help to streamline the overall process of financial management. Option B
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QUESTION 1 (a) Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income statement Sales Costs RM23,000 13,100 RM9,900 Assets Balance Sheet Debt Equity RM10,000 Total RM10,000 RM4,200 5,800 Net income Total RM10,000 The company has predicted a sales increase of 11 percent. It has predicted that every item on the balance sheet will increase by 11 percent as well. Create the pro forma statements and reconcile them. What is the plug variable here? (15 marks) (b) Mountain Frost is considering a new project with an initial cost of RM195,000. The equipment will be depreciated on a straight-line basis to a zero book value over the four-year life of the project. The projected net income for each year is RM19,800, RM20,700, RM24,600, and RM16,700, respectively. Calculate the average accounting return (AAR)? (5 marks) (c) An investment project has annual cash inflows of RM2,800, RM3,700, RM5,100, and RM4,300, for the next four years, respectively. The discount rate is 11 percent. Calculate the discounted payback period for these cash flows if the initial cost is RM5,200? (5 marks) (Total: 25 marks)
(a) The plug variable in this case is RM0.
(b) AAR (20.77%) provides information about the project's profitability and can be used to evaluate it in comparison to other investment options.
(c) That the four-year window at the specified discount rate does not result in a full recovery of the starting cost.
The plug variable is equal to the difference between the total assets and the total of the debt and equity, which is equal to RM11,100 - (RM4,662 + RM6,438) = RM0. RM0 serves as the plug variable in this scenario.
(RM19,800, RM20,700, RM24,600, and RM16,700) divided by four equals RM20,200. RM195,000 / 2 = RM97,500.
The project's AAR is therefore RM20,200 / RM97,500, which is 0.2077 or 20.77%.
The fourth year's cash inflow has a present value of RM3,139.47, and RM5,200 minus RM12,232.11 plus RM3,139.47 equals RM-3,892.64 in order to reach the beginning cost. As a result, the discounted repayment term is 3 years, which is equal to 1.24 years (RM-3,892.64 / RM3,139.47).
As a result, the significance of the following are the statement are the aforementioned.
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Your bank offers an automobile loan at an annual percentage of 10% with interest to be paid
quarterly.
a. Given these conditions, what is your effective annual rate?
b. What annual percentage rate with interest being paid monthly is equivalent to an annual
percentage of 8%?
21/41
The effective annual rate, we need to take into account the effects of compounding, which occurs quarterly in this case.
The formula for an effective annual rate with quarterly compounding is:
EAR = (1 + r/n)^n - 1
where r is the annual percentage rate and n is the number of compounding periods per year.
In this case, r = 10% and n = 4 (since interest is paid quarterly).
Plugging in these values, we get:
EAR = (1 + 0.10/4)^4 - 1
= 0.1038125 or 10.38% (rounded to two decimal places)
Thus, Therefore, the effective annual rate on the automobile loan is 10.38%.
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Rachael Hair Products shows the following budgeted and actual data for the first quarter of the current fiscal year:
Actual (9,000 units) Flexible Budget (9,000 units) Master Budget (10,000 units)
Sales $ 139,500 $ 135,000 $ 150,000
Variable costs 64,000 63,000 70,000
Fixed costs 53,000 50,000 50,000
Operating income $ 22,500 $ 22,000 $ 30,000
Required:
What type of financial control system might the company use to determine whether the company met its short-term financial objectives?
For the first quarter of the year, what was the total master budget variance?
In general, into what two component variances can the master budget variance be decomposed? What is the meaning of each of these two variances?
Comment specifically on the financial performance of this company during the 1st quarter.
What are the primary limitations of traditional financial-control models?
Rachael Hair Products may use variance analysis to assess short-term financial objectives. The total master budget variance was -$7,500, divided into sales volume and flexible budget variances. Actual operating income of $22,500 was better than the flexible budget of $22,000 but below the master budget of $30,000, showing unfavorable variances, particularly in sales volume.
The company might use a variance analysis system to determine whether it met its short-term financial objectives. This involves comparing actual results to budgeted results and analyzing the variances to identify areas where performance was better or worse than expected.
The total master budget variance for the first quarter can be calculated as follows:
Actual Operating Income - Master Budget Operating Income
= $22,500 - $30,000
= -$7,500
Therefore, the total master budget variance for the first quarter is -$7,500.
The master budget variance can be decomposed into two component variances: the sales volume variance and the flexible budget variance. The sales volume variance measures the impact of the difference between the actual sales volume and the budgeted sales volume on operating income, while the flexible budget variance measures the impact of the difference between actual variable costs and budgeted variable costs on operating income.
During the first quarter, the company's actual operating income of $22,500 was slightly better than the flexible budget operating income of $22,000, but fell short of the master budget operating income of $30,000. This suggests that the company experienced some unfavorable variances, particularly in the area of sales volume.
The primary limitations of traditional financial-control models include their focus on historical financial data, their reliance on quantitative measures of performance, and their failure to account for non-financial factors that may influence performance. Additionally, traditional financial-control models may not be flexible enough to adapt to changing business environments or to capture the full range of factors that impact organizational performance.
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Which situation would be appropriate for an investment bank?
Example of the situation that would be appropriate for an investment bank is Debt and Equity Financing.
What is Investment banking?Investment banking can be described as the special segment of banking operation which can be utilized by the people as well as the organisations so that theycan be able to raise capital and provide financial consultancy services to them.
It should be noted that this banking do serves as the intermediaries between security issuers as well as the investors however Investment bank clients can encompass the corporations, pension funds as well as financial institutions.
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Jim has to step into an existing high-priority project as the current project manager has suddenly reported sick just before an important milestone. He finds that the team is exhausted on account of the high workload, morale is low, and the client is pushing forward with previously agreed but clearly unreasonable deadlines. 1. What is the second most effective responsive? Jim decides to set the house in order. He informs his director with a status report detailing the issues, informs him that he would be talking with the client to discuss the deadlines, and needs to sit with the team to review and resolve the issues to the extent possible before the next scheduled delivery. Jim tries to maintain the status quo and presses forward with the team to ensure client deadlines are met, no matter what. It is just a matter of holding the fort till the original project manager is back. Jim decides it is not worth stake his reputation on an ill-fated project, informs his director accordingly with a status report detailing the issues, and excuses himself from the project.
The second most effective response is, Jim decides to set the house in order. He informs his director with a status report detailing the issues, informs him that he would be talking with the client to discuss the deadlines, and needs to sit with the team to review and resolve the issues to the extent possible before the next scheduled delivery. Option a is correct.
The second most effective response would be option (a). Jim needs to communicate with the director about the situation and then address the issues with the team and client. It is important to set realistic expectations and ensure that everyone is on the same page. Ignoring the problems and pressing forward (option b) could result in further burnout and even more problems down the line.
Walking away from the project (option c) is not a good option either, as it does not address the current situation and could harm Jim's professional reputation. It is important to take responsibility and make an effort to improve the situation to the best of Jim's ability. Option a is correct.
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Which of the following is true of debit cards?
A. Your bank may charge you a large fee each time you use one.
B. When you buy something from a store, you may be offered a discount if you get one.
C. They usually charge a lower interest rate than credit cards.
D. They can be used to make online purchases.
The statement is true of debit cards is When you buy something from a store, you may be offered a discount if you get one. Thus the correct option is B.
Debit cards are linked to a bank account and do not charge yearly fees or interest, and can be used to withdraw cash or make purchases from that account. Debit cards normally do not offer rewards or bonuses.
Because debit card transactions are considered less risky than credit card transactions, some stores may offer discounts to customers who use them as the amount is deducted on teh current date and time rather than the upcoming date.
Therefore, option B is appropriate.
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Answer: D. They can be used to make online purchases.
Explanation: 1. $4,076.92
2. Assets = Liabilities + Equity
3. They can be used to make online purchases.
4. by using an emergency fund for this unplanned expense
5. a fund with a minimum investment that tracks the value of cash
6. 1930s
7. Banks because they are highly regulated by the government, so the loan terms will not be predatory.
8. their vacation cabin
9. You should shop around for the best overall deal.
10. If you use a credit card, it is easy to run up huge debts.
11. They are tied directly to your bank account.
12. preventative care
13. $100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage
14. how long the coverage lasts, how much the premium costs, and the cash value
15. 1-year renewable group term life
16. Identity thieves can intercept unencrypted data being sent to Wi-Fi hot spots.
17. Wells Fargo employees were opening unauthorized deposit and credit accounts for its customers.
18. 2 year in state community college degree
19. tuition assistance
20. -a sundae, -movie tickets
Explanation: All of these answers are correct!
Personal Finance Semester Exam
5/11/2023
Governments promote and regulate natural monopolies in order to:
Answer:
Prevent excess prices.
Explanation:
Your welcome!
How could the culture of Noor Bank be considered a strong culture.
Answer:
Explanation:
The culture of Noor Bank can be considered a strong culture for several reasons:
Shared values and beliefs: Noor Bank has a clearly defined set of values and beliefs that are shared among its employees. These include customer focus, integrity, teamwork, and innovation. This shared sense of purpose and identity helps to unify employees and guide their actions and decisions.
Consistency: Noor Bank's culture is consistent across all levels of the organization. From the CEO to the front-line staff, everyone is expected to adhere to the same set of values and behaviours. This consistency helps to create a sense of trust and reliability among customers and stakeholders.
Employee engagement: Noor Bank actively engages with its employees to foster a strong culture. This includes regular training and development programs, team-building activities, and opportunities for feedback and communication. Employees feel valued and supported, which helps to increase their commitment to the organization.
Adaptability: Despite its strong culture, Noor Bank is also adaptable and responsive to changes in the business environment. The bank encourages innovation and is willing to take risks in pursuit of new opportunities. This flexibility helps to keep the culture fresh and relevant, while still maintaining a strong sense of identity.
Overall, the strong culture of Noor Bank helps to create a cohesive and unified organization that is focused on serving its customers and achieving its goals. This culture is based on shared values and beliefs, consistency, employee engagement, and adaptability, all of which contribute to the bank's success.
Buy-Rite Pharmacy has purchased a small auto for delivering prescriptions. The auto was purchased for $32,000 and will have a 6-year useful life and a $4,400
salvage value. Delivering prescriptions (which the pharmacy has never done before) should Increase gross revenues by at least $32,400 per year. The cost of
these prescriptions to the pharmacy will be about $25,800 per year. The pharmacy depreciates all assets using the straight-line method. The payback perlod for
the auto is closest to (ignore income taxes): (Round your answer to 1 decimal place.)
Multiple Choice
Answer:
It will take approximately 4.2 years.
Explanation:
To calculate the payback period for the auto, we need to determine how many years it will take for the additional gross revenues from delivering prescriptions to cover the cost of the auto.
The initial cost of the auto is $32,000 and the salvage value is $4,400, so the depreciable cost is $27,600 ($32,000 - $4,400).
The additional gross revenues from delivering prescriptions are $32,400 per year, and the cost of these prescriptions to the pharmacy is $25,800 per year, so the net additional revenue per year is $6,600 ($32,400 - $25,800).
To cover the depreciable cost of $27,600, it will take approximately 4.2 years ($27,600 ÷ $6,600 = 4.18).
Therefore, the payback period for the auto is closest to 4.2 years.
3. ABC suppliers have an idea that an organization should be in good terms with the community, customers, and potential customers. Explain what public relations is. [2x1] [2]
Public relations (PR) is the practice of managing the communication between an organization and its various stakeholders, including the community, customers, potential customers, employees, investors, and the media.
The goal of Public relations (PR) is to create and maintain a positive image of the organization in the eyes of its stakeholders, enhance its reputation, and build relationships with key stakeholders.
PR professionals use various tools and strategies, such as press releases, media outreach, events, and social media, to communicate the organization's message and engage with its audiences.
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Kathy on the large retail electrical store that sells light fixtures lamps in electrical equipment the farm is not a shirt for employee theft a risk management consultant recommend adding an I S all commercial crime coverage form to the firms package policy including coverage for a plate of the crime form was issued on a discovery bases on July 1, 2017 without a retro active date endorsement the coverage amount for the employee theft is 25,000 a rat routine audit and December 2018 by a accounting firm revealed that one of the bookkeepers had a basil 20,000 over three month period in 2016 what dollar amount if anyone insurer pay for the loss be what your answer to part a be the same or different of the crime coverage form were issued on a long sustained basis explain
The insurer would pay $20,000 for the deficit in this text, as it falls within the coverage amount of $25,000 for agent theft.
What is the crime coverage form?If the crime coverage form were issued on a long maintained basis, intention with a after the fact date endorsement, the insurer may not cover the deficit as it occurred in 2016 and the concerned with past date may exclude inclusion for losses that happen prior to the date.
However, since the crime inclusion form was issued on a finding basis outside a retroactive date endorsement, the insurer would cover the deficit as long as it falls inside the coverage amount and is discovered all the while the policy ending.
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Who might an HR professional turn to for help in making good use of external
recruitment sources?
OA. A recruitment agency
OB. A corporate manager
OC. A guidance counselor
O D. An advertising firm
A recruitment agency is a source to which the HR professional turn to for help in making good use of external recruitment sources. Thus, option A is appropriate.
Identification, attraction, interviewing, selection, hiring, and onboarding of personnel are all included in the recruitment process. Put it another way, it covers everything from identifying a staffing requirement to meeting it. Various employees are in charge of recruiting, depending on the size of the company.
The entire process of finding, sourcing, screening, shortlisting, and interviewing people for positions within an organization is known as recruitment. The selection of candidates for unpaid positions is another step in the recruitment process.
Thus, option A is correct.
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To drive customers to your website, you need to create
Answer:
Explanation:
To drive customers to your website, you need to create a comprehensive digital marketing strategy that includes various tactics to attract and engage potential customers. Some of the most effective ways to drive traffic to your website are:
Search Engine Optimization (SEO): Optimize your website and its content to rank higher on search engine results pages (SERPs) for relevant keywords.
Pay-per-click (PPC) Advertising: Use paid search ads to target specific keywords and drive traffic to your website.
Content Marketing: Create valuable and informative content, such as blog posts, videos, infographics, and ebooks, that attracts and engages your target audience.
Social Media Marketing: Use social media platforms to promote your content, interact with customers, and drive traffic to your website.
Email Marketing: Build an email list and use it to send targeted and personalized messages to your subscribers, promoting your website and its content.
Influencer Marketing: Partner with influencers in your industry to promote your website and products to their followers.
Referral Marketing: Encourage your existing customers to refer their friends and family to your website, offering incentives for successful referrals.
Affiliate Marketing: Partner with other websites and publishers to promote your products and services, paying them a commission for each sale or lead generated.
By implementing a combination of these tactics and regularly monitoring and adjusting your strategy, you can drive targeted traffic to your website and ultimately convert them into customers.
PLS MARK ME BRAINLIEST
Answer:
A solid marketing plan
Explanation:
I took the test and this was the correct answer
QUESTION 1 (a) The most recent financial statements for Mandy Company are shown here: Income Statement Balance Sheet RM 11,980 Debt RM 32,400 Sales Costs Taxable income Taxes (21%) Net income RM 20,300 Current assets RM 13,900 Fixed assets RM 6,400 RM 1,344 RM 5,056 Total RM 44,380 Equity Total RM 16,540 RM 27,840 RM 44,380 Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 45 percent dividend pay-out ratio. What is the sustainable growth rate for this company? (10 marks) (b) A project that costs RM21,000 today will generate cash flows of RM7,300 per year for seven years. Calculate the project's payback period? (5 marks)
For this Mandy Company's, the sustainable growth rate is 16.81%. This indicates that the business can expand at a pace of up to 16.81% annually without needing to obtain more equity or debt capital.
(RM6,400 / RM7,300) = 0.8767, or around 9 months, is the repayment term, which is 2 years. This indicates that it will take fewer than three years to recoup the project's initial investment in Mandy Company's.
Sustainable Growth Rate is calculated using the formula ROE x Retention Ratio (RM5,056 / RM16,540 = 0.3057 or 30.57%).
Dividend payout ratio divided by one is one-half (0.55), or 55%, which is the retention ratio.
As a result, Mandy Company's sustainable growth rate is 0.3057 0.55 = 0.1681 or 16.81%.
RM7,300 in Year 1, RM14,600 in Year 2, RM21,900 in Year 3, RM29,200 in Year 4, RM36,500 in Year 5, RM43,800 in Year 6, and RM51,100 in Year 7.
The third year's cash inflow is RM7,300, and RM21,000 - RM21,900 + RM7,300 = RM6,400 must still be paid to reach the initial cost. This means that the repayment time is 2 years, or around 9 months, and that (RM6,400 / RM7,300) = 0.8767.
As a result, the significance of the Mandy Company's period are the aforementioned.
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Kris is a salesperson for IBM. He makes a base salary of $80,000 per year plus 4% of net sales. He is paid bi-weekly, and commission is paid when the sale is billed. This period, they billed a $25,000 sale. Kris has also made another $25,000 sale but it was not billed until the day after the close of the pay period. What should Kris expect his gross pay this period to be?
$1,000
$3,076.92
$4,076.92
$5,076.92
Explanation:
To calculate Kris's gross pay for the pay period, we need to calculate his commission on the billed sale of $25,000 and add it to his base salary. We also need to calculate his commission on the unbilled sale of $25,000 and include it in the next pay period.
Commission on billed sale = 4% of $25,000 = $1,000
Base salary = $80,000 per year / 26 pay periods per year = $3,076.92 per pay period
Gross pay for this pay period = Base salary + Commission on billed sale = $3,076.92 + $1,000 = $4,076.92
Therefore, Kris should expect his gross pay this period to be $4,076.92, which is option C.
1. $4,076.92
2. Assets = Liabilities + Equity
3. They can be used to make online purchases.
4. by using an emergency fund for this unplanned expense
5. a fund with a minimum investment that tracks the value of cash
6. 1930s
7. Banks because they are highly regulated by the government, so the loan terms will not be predatory.
8. their vacation cabin
9. You should shop around for the best overall deal.
10. If you use a credit card, it is easy to run up huge debts.
11. They are tied directly to your bank account.
12. preventative care
13. $100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage
14. how long the coverage lasts, how much the premium costs, and the cash value
15. 1-year renewable group term life
16. Identity thieves can intercept unencrypted data being sent to Wi-Fi hot spots.
17. Wells Fargo employees were opening unauthorized deposit and credit accounts for its customers.
18. 2 year in state community college degree
19. tuition assistance
20. -a sundae, -movie tickets
Explanation: All of these answers are correct!
Personal Finance Semester Exam
5/11/2023
True or False. You should use your net income, or income after taxes have been taken out, to create a more accurate budget.
Answer:
The answer is true Goodluck
As businesses grow, they must make decisions on how to plan and manage growth.
True
O False
describe the most interesting thing you learned about this CTSO.
Only HOSA has achieved formal worldwide status among CTSO. The organization has more than 260,000 members in more than 5,200 chapters spread throughout all 50 states and a few foreign countries.
Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan are the six post-Soviet nations that make up the Collective Security Treaty Organization CSTO, an intergovernmental military alliance in Eurasia.
The United Armed Forces of the Commonwealth of Independent republics, which took the place of the Soviet Armed Forces in 1992, and the successor armed forces of the individual independent organization republics thereafter are the parties to the Collective Security Treaty.
Article 5 of the North Atlantic Treaty and the Inter-American Treaty on Reciprocal Assistance are comparable in this regard.
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JaCo uses the periodic method and records merchandise purchases at net. Its 20X4 ending inventory is $69,000. During 20X5, JaCo purchases merchandise for $878,000, with freight-in of $11,000. Purchase returns are $17,000, purchase discounts lost are $4,000, and the cost of merchandise on hand a tyear end is $91,000. At yearend, JaCo records the following entry:
JaCo uses the periodic method and records merchandise purchases at net. Its 20X4 ending inventory is $69,000. During 20X5, JaCo purchases merchandise for $878,000, with freight-in of $11,000.
Purchase returns are $17,000, purchase discounts lost are $4,000, and the cost of merchandise on hand a tyear end is $91,000. At yearend, JaCo records the following entry:
Account
Debit = Cost of Goods Sold = 854,000
Credit = Inventory = 854,000
To record the yr-stop entry for inventory under the periodic approach, JaCo desires to calculate the value of products offered (COGS) for 20X5. The formula for COGS underneath the periodic technique is:
COGS=Beginning stock + Purchases − Ending stock
Plugging in the given values, we get:
COGS=69,000(878,000+11,000−17,000+4,000)−91,000=69,000+876,000−91,000=854,000
Therefore, the 12 months-cease access for inventory is:
Account
Debit = Cost of Goods Sold = 854,000
Credit = Inventory = 854,000
This entry reduces the inventory account to the finishing balance of $91,000 and records the expense of COGS for the year.
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(c) Living Colour Company has a project available with the following cash flows: Cash Flow (RM) -34,910 8,000 9,610 13,630 15,650 10,400 Year 0 1 2 3 4 5 If the required return for the project is 8 percent, calculate the project's net present value (NPV). (5 marks) (d) A project has an initial cost of RM92,200, a life of 7 years, and equal annual cash inflows. The required return is 9 percent. According to the profitability index decision rule, what is the minimum annual cash flow necessary to accept the project? (5 marks)
(c) To calculate the NPV of the project, we need to discount each cash flow to its present value using the required return of 8%. The formula to calculate the present value is:
PV = CF / (1 + r)^n
Where PV is the present value, CF is the cash flow in a particular year, r is the required return, and n is the number of years from the present.
Using the formula and the given cash flows, we get:
PV of Year 0 = -34,910 / (1 + 0.08)^0 = -34,910
PV of Year 1 = 8,000 / (1 + 0.08)^1 = 7,407.41
PV of Year 2 = 9,610 / (1 + 0.08)^2 = 8,427.89
PV of Year 3 = 13,630 / (1 + 0.08)^3 = 11,168.52
PV of Year 4 = 15,650 / (1 + 0.08)^4 = 11,739.52
PV of Year 5 = 10,400 / (1 + 0.08)^5 = 7,418.35
The sum of all the present values gives us the net present value (NPV) of the project:
NPV = -34,910 + 7,407.41 + 8,427.89 + 11,168.52 + 11,739.52 + 7,418.35
NPV = $11,252.79
Therefore, the net present value of the project is $11,252.79, which is positive. This indicates that the project is expected to generate a return greater than the required return of 8%, and it would be a good investment for the company.
(d) To calculate the minimum annual cash flow necessary to accept the project using the profitability index decision rule, we need to use the following formula:
Profitability index = Present value of cash inflows / Initial cost
For the project to be accepted, the profitability index needs to be greater than 1.
We know that the initial cost is RM92,200, the life of the project is 7 years, and the required return is 9%.
Using a financial calculator or spreadsheet software, we can calculate that the present value of equal annual cash inflows over 7 years at a 9% discount rate is approximately RM151,644.
Plugging these values into the formula, we get:
Profitability index = RM151,644 / RM92,200
Profitability index = 1.645
Since the profitability index is already greater than 1, the minimum annual cash flow necessary to accept the project has already been met. Therefore, we do not need to calculate the minimum annual cash flow.
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Goodies (Pty) Ltd is a retailer of children's toys. The Management Accountant created the sales budgets for the last four months of the financial year ended December 2023. The budget is presented below: Month Cash Sales Credit Sales Total Sales September R 60 000 450 000 510 000 October R 50 000 500 000 550 000 November R 70 000 420 000 490 000 December R 30 000 510 000 540 000 Additional information: Collections regarding credit sales are as follows: . 50% in the month of the sale and is therefore subject to a 4% settlement discount. 25% one month after the month of sale. 20% two months after the month of the sale and the remainder (5%) is uncollectable. Goodies (Pty) Ltd's inventory requirements are 25% of the next month's total budgeted sales amount. Inventory is purchased in the month preceding its expected sale. All inventory purchases are made on credit. The suppliers' terms of payment require that 40% be paid in the month of purchase and the balance (60%) be paid in the month after the month of purchase. Direct wages amount to R15 000 per month. Wages are all paid in cash as they occur. January 2024 sales are expected to comprise of R550 000 credits sales and R30 000 cash sales. The bank is expected to be in an overdraft of R42 000 on 31 October 2023. Selling, distribution, and administrative costs are expected to be 50% of the monthly total sales and include depreciation of R25 000 per month.
prepare a cash budget for Goodies (Pty) Ltd for the months of November 2023 and December 2023.
show all workings
Based on the cash budget, Goodies (Pty) Ltd is expected to have a bank overdraft of R105 000 at the end of November, which will increase to R241 000 at the end of December.
To prepare the cash budget for Goodies (Pty) Ltd for the months of November and December 2023, we need to take into account the following information:
Sales (cash and credit) for each month
Collections from credit sales
Purchases of inventory
Payments for inventory purchases
Direct wages
Selling, distribution, and administrative costs
Depreciation
Bank overdraft
Using this information, we can prepare the cash budget as follows:
Goodies (Pty) Ltd
Cash Budget for November and December 2023
November December
Cash receipts:
Cash sales R 70 000 R 30 000
Collections from credit sales:
Month of sale R 225 000 R 255 000
1 month after sale R 105 000 R 84 000
Total cash receipts R 400 000 R 369 000
Cash disbursements:
Inventory purchases R 137 500 R 137 500
Direct wages R 15 000 R 15 000
Selling, distribution, and administrative costs R 245 000 R 270 000
Payments for inventory purchases:
Month of purchase R 55 000 R 82 500
1 month after purchase R 82 500 R -
Total cash disbursements R 535 000 R 505 000
Net cash flow (R 135 000) (R 136 000)
Opening bank balance R 30 000 R (105 000)
Closing bank balance R (105 000) R (241 000)
Bank overdraft R (105 000) R (241 000)
Workings:
Collections from credit sales:
Month of sale: 50% of credit sales = (50% x R450 000) + (50% x R420 000) = R435 000
4% settlement discount: 4% x R450 000 = R18 000
Total collections from credit sales in November: R435 000 - R18 000 = R417 000
Total collections from credit sales in December: R420 000 x 50% = R210 000
Purchases of inventory:
December inventory required: 25% x R550 000 = R137 500
Payments for inventory purchases:
November purchases: 40% x R137 500 = R55 000
December purchases: 60% x R137 500 = R82 500
Selling, distribution, and administrative costs:
November: 50% x R490 000 = R245 000
December: 50% x R540 000 = R270 000
Net cash flow:
November: Total cash receipts - Total cash disbursements = R400 000 - R535 000 = (R135 000)
December: Total cash receipts - Total cash disbursements = R369 000 - R505 000 = (R136 000)
Based on the cash budget, Goodies (Pty) Ltd is expected to have a bank overdraft of R105 000 at the end of November, which will increase to R241 000 at the end of December.
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Which of the following typically never has to be repaid?
A) student loan
B) work-study program
C) scholarship
D) private bank loan
Out of the given options C) scholarship never has to be paid.
A scholarship is a prize or a gift, which do not have to be compensated. Numerous organizations, including employers, individuals, private businesses, nonprofits, communities, religious organisations, and professional and social associations, offer thousands of them. Scholarships make going to an institution simpler for students by lowering the amount of tuition fees that they must pay.
This provides the benefit of reducing the student's financial load because the student will never have to pay it back. They are frequently given out based on a variety of factors, including academic excellence, diversity and inclusion, athletic prowess, financial need, etc. The requirements for scholarships typically reflect the ideals and objectives of the award's originator or giver as well.
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Answer: C) scholarship
Explanation: A scholarship is a prize or a grant that does not have to be repaid. Thousands of them are available from a variety of organizations, including employers, individuals, private corporations, nonprofits, communities, religious organizations, and professional and social associations. Scholarships make it easier for students to attend college by reducing the amount of tuition they must pay. This has the advantage of lessening the student's financial burden because the student will never have to repay it. They are frequently awarded based on a number of criteria, such as academic success, diversity and inclusion, athletic prowess, financial necessity, and so forth. Scholarship conditions frequently reflect the values and goals of the award's creator or presenter.
There are two parts to every problem. Identify the two parts from the following list. A. Problems have goals and barriers. B. Problems have two points of view. C. Problems have problems and solutions. D. Problems have goals and ideas.
The two parts of every problem can be identified from the given list as option A: Problems have goals and barriers.
The correct answer is option a.
A problem arises when there is a specific goal or objective that needs to be achieved, but there are obstacles or barriers in the way that prevent easy progress towards that goal. The goal is the desired outcome or the result that one aims to achieve, while the barrier represents the challenges or difficulties that need to be overcome in order to reach the goal.
In order to effectively address and solve a problem, it is important to first identify the goals and the barriers. By doing so, we can focus on finding strategies and solutions that help to overcome the barriers and eventually achieve the goal. Understanding the two parts of a problem not only provides clarity on the issue at hand, but it also allows for a more systematic approach to problem-solving, increasing the chances of successfully reaching the desired outcome.
Therefore, the correct answer is option a.
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Why should businesses take on the task of training the hard-core unemployed?
As part of their contributions to corporate social responsibility, businesses must provide training to hard-core unemployed groups.
As part of their obligations to the society in which they operate in order to generate profits, every profit-making business organization must fulfill a corporate social responsibility .
Providing the unemployed with basic skills training increases their likelihood of finding employment in a variety of sectors of the economy. It falls under the umbrella of corporate social responsibility because it is a welfare activity.
As a result, the significance of corporate social responsibility has been discussed previously.
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What has been the relationship between the wages workers earn and individual incentives in command economies?
In command economies, the relationship between the wages workers earn and individual incentives is typically weak or non-existent.
What are command economies ?Command economies, also referred to as planned economies, are systems of economics controlled by a centralized authority or government wherein all economic decision-making regarding the production and distribution of goods and services is handled by the governing body.
As production prices and labor wages are determined by the commanding institution instead of supply and demand, there are fewer incentives for workers to increase their productivity levels.
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According to the creditor hierarchy, list the following from high risk to low risk
1 Ordinary share capital 2 Preference share capital 3 Trade payables 4 Bank loan with fixed and floating charges A 1,2,3,4 B 2,1,4,3 C 1,2,4,3 D 4,1,2,3 2.
The correct order from high risk to low risk is: D) 4, 1, 2, 3 where trade payables are the lowest-risk creditors, followed by ordinary share capital, preference share capital, and bank loans with fixed and floating charges being the highest-risk creditors.
Bank loans are a common form of debt financing provided by financial institutions such as banks to individuals and businesses.
The terms and conditions of bank loans can vary depending on the lender and the borrower's creditworthiness, but typically include an interest rate, repayment schedule, and collateral or security requirements.
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