Mean absolute ratio is the average of the ratios of the absolute differences between the forecast and the actual values. The Mean Bias is -16.67 and the Mean Absolute Ratio is 0.0463.
Mean bias and Mean Absolute Ratio. The mean bias and the mean absolute ratio are measures of forecast accuracy. These measures are used to evaluate the accuracy of the forecast. Mean bias is the average of the differences between the forecast and the actual values. The mean bias and the mean absolute ratio are calculated using the following formulas: Mean Bias = (Σ\frac{(Forecast – Actual) }{ n})
Mean Absolute Ratio =\frac{ (Σ|Forecast – Actual| / Actual) }{ n} .In the given table, we are given the forecast and actual sales of the first three months, as:MonthEstimateActual1 1050 11002 1200 11503 950 1000
Mean Bias = (\frac{Σ(Forecast – Actual) }{ n})
Mean Bias =\frac{ ((1050 – 1100) + (1200 – 1150) + (950 – 1000)) }{ 3}
Mean Bias =\frac{ (-50 + 50 - 50) }{3}
Mean Bias = \frac{-50 }{ 3}
Mean Bias = -16.67
Mean Absolute Ratio =\frac{ (Σ|Forecast – Actual| / Actual) }{ n}
Mean Absolute Ratio = ((|1050 – 1100| / 1100) + (|1200 – 1150| / 1150) + (|950 – 1000| / 1000)) / 3
Mean Absolute Ratio =\frac{ ((50 / 1100) + (50 / 1150) + (50 / 1000)) }{3}
Mean Absolute Ratio = \frac{(0.0455 + 0.0435 + 0.05) }{3}
Mean Absolute Ratio = 0.0463
Therefore, the Mean Bias is -16.67 and the Mean Absolute Ratio is 0.0463.
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An important factor affecting price elasticity of supply is OA. proportion of income spent on the product or service. OB. sunk costs. OC. availability of additional inputs. OD. none of the above.
An important factor affecting price elasticity of supply is none of the above.
Price elasticity of supply is the measure of the percentage change in the quantity of goods or services supplied in response to a change in its price. The elasticity of supply is determined by several factors such as the availability of additional inputs, sunk costs, and proportion of income spent on the product or service.
The correct answer is (OD) none of the above.An important factor affecting price elasticity of supply is the availability of raw materials. If the raw materials are scarce or expensive, the price of the end product increases, leading to a decrease in the supply of the product as it becomes less profitable for the supplier to produce.
The proportion of income spent on the product or service does not affect the price elasticity of supply.Sunk costs, which are the costs that have already been incurred and cannot be recovered, may influence a firm's supply decisions, but they do not affect price elasticity of supply.
So, option D is the correct answer.
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A manager wants to improve the efforts of the workers in his production or manufacturing department. The workers appear to lack motivation as evidence by high absenteeism, poor quality work and "goofing off" by many workers. Provide some suggestions through this discussion to help our manager. Please suggest motivational tools mentioned in the text that might help, and through your own experience.
To address the lack of motivation among workers in the production or manufacturing department, the manager can consider implementing various motivational tools. These tools can include incentives and rewards, recognition programs, fostering a positive work environment, providing opportunities for growth and development, and involving employees in decision-making processes.
Drawing from both existing research and practical experience, these strategies can help improve motivation and engagement among the workforce.
Incentives and rewards: Implementing a system of incentives and rewards, such as performance-based bonuses or recognition for achieving targets, can motivate employees to perform better and improve attendance and work quality.
Recognition programs: Establishing formal or informal recognition programs, where employees are acknowledged and appreciated for their contributions, can boost morale and motivation. This can be done through employee of the month awards, peer recognition, or team-based recognition programs.
Positive work environment: Creating a positive work environment through effective communication, supportive leadership, and fostering a sense of camaraderie can enhance motivation. Encouraging teamwork, promoting work-life balance, and addressing any concerns or issues promptly can contribute to a positive atmosphere.
Growth and development opportunities: Providing opportunities for employees to enhance their skills and knowledge through training programs, workshops, or educational support can make them feel valued and invested in their personal and professional growth.
Employee involvement: Involving employees in decision-making processes, seeking their input, and considering their ideas and suggestions can empower them and create a sense of ownership, leading to increased motivation.
These suggestions aim to address the specific challenges of high absenteeism, poor work quality, and lack of focus among workers, by creating an environment that fosters motivation and engagement. It is important for the manager to assess the specific needs and preferences of the workforce and tailor the motivational tools accordingly.
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Imagine yourself in the following scenario:
You prepared your company’s presentation in a power point presentation and stored it on the
hard drive of your new laptop. On your way to your sales meeting, your laptop was handled
roughly by security at the airport. When you arrived at your meeting your laptop was not
able to open up your power point presentation. You made your presentation anyways
without your power point. Unfortunately, your clients were not impressed, and your
company did not get the contract.
STEP THREE:
Using what you have learned about Audience and Purpose, you are to write a one-page
letter to either your boss or the computer company. Think about the subject (scenario/topic),
tone (how you will sound), role (attitude in the letter) audience (boss, Computer Company)
and purpose (what is the purpose or your goal as a result of this letter)? Remember to stay
focused
Answer:
The Audience and Purpose, in a one-page letter to either your boss or the computer company is as follows:
[Your Name]
[Your Position]
[Company Name]
[Company Address]
[City, State, ZIP]
[Date]
[Recipient's Name]
[Recipient's Position]
[Computer Company Name]
[Company Address]
[City, State, ZIP]
Subject: Issue with Power Point Presentation and Impact on Client Contract
Explanation:
Dear [Recipient's Name],
I hope this letter finds you well. I am writing to bring to your attention a recent incident involving my laptop and the subsequent impact it had on an important sales meeting. As a loyal customer of [Computer Company Name], I believe it is crucial to share this experience with you.
During my journey to a crucial sales meeting, my laptop, which stored the presentation vital for our business prospects, endured rough handling by security personnel at the airport. Regrettably, upon arriving at the meeting, I discovered that my laptop was unable to open the Power Point presentation. Despite this unforeseen setback, I proceeded to deliver the presentation to the clients to the best of my ability. However, it became apparent that the absence of the Power Point adversely affected their perception of our company, ultimately resulting in the loss of the contract.
As an employee committed to the success of [Company Name], I am deeply concerned about the repercussions of this incident. Our company has always maintained high standards in delivering compelling presentations to clients, and this unfortunate event has cast a negative light on our capabilities.
The purpose of this letter is twofold. Firstly, I kindly request your assistance in resolving the issue with my laptop and recovering the inaccessible Power Point presentation. I believe that swift action from [Computer Company Name] can help rectify this matter and prevent any future occurrences. Secondly, I urge you to consider the significance of this incident and its impact on our company's reputation and growth potential. It is my hope that we can work together to prevent similar situations from happening in the future and reinforce our commitment to delivering exceptional presentations to our clients.
I appreciate your attention to this matter and look forward to a prompt resolution. Should you require any additional information or clarification, please do not hesitate to reach out to me at [Your Contact Information]. Thank you for your understanding and support.
Sincerely,
[Your Name]
[Your Position]
[Company Name]
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Answer the following questions regarding the article entitled "From Financial Crash to Debt Crisis" (2011) by Reinhart and Rogoff.
What were the three conclusions obtained from the study? Explain in detail.
The Great Recession, one of the worst economic declines in US history, officially lasted from December 2007 to June 2009. The collapse of the housing market — fueled by low-interest rates, easy credit, insufficient regulation, and toxic subprime mortgages — led to the economic crisis.
The Great Recession was a prolonged, dramatic decrease in economic activity that began in 2007 and affected national economies all around the world. Since the Great Depression of the 1930s, it is regarded as the worst recession ever.
The Great Recession, which lasted from late 2007 to early 2009, was a period of significant general deterioration seen in national economies around the world. From one country to the next, the recession's size and timing were different.
The official duration of the Great Recession, one of the worst economic downturns in US history, was from December 2007 to June 2009.
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1. If output is described by the production function Y = AKO-220, then the production function has A. Constant Returns to Scale B. Diminishing returns to Scale C. Increasing returns to scale D. A degree of returns to scale that cannot be determined 2. An increase in the trade surplus of the a small open economy could be the result of A. A domestic tax cut. B. An increase in government spending. C. An increase in the world interest rate. D. The implementation of an investment tax-credit provision. 3. Which of the following statements would be true of an economy that can be characterized as being to the left of the IS curve? A. There will be a tendency for the level of output to decrease. B. There will be a tendency for interest rates to fall. C. There is an excess demand for commodities at the existing interest rate. D. There is an excess supply of commodities at the existing interest rate. 4. Fiscal policy loses its effectiveness in all of the following situations EXCEPT A. When the IS curve is vertical. B. When the IS curve is horizontal C. When the country runs full capital controls. D. None of the above. 5. Which of the following not part of the balance of payment? A. Financial Account. B. Treasury Single account. C. Current Account. D. Capital Account. 6. A fiscal expansion coupled with a monetary expansion must always cause A. Output to rise B. Output to fall C. Interest rates to rise D. Interest rates to fall 7. Autonomous consumption is A. a function of disposable income B. a function of national income C. a function of GDP D. independent of the level of income 8. Monetary policy loses its effectiveness in all of the following situations EXCEPT A. When the IS curve is vertical. B. When the LM curve is nearly horizontal. C. When interest rate controlled by the Fed reaches zero. D. When the IS curve is horizontal. 9. In a small open economy, if the government adopts a policy that lowers imports then that policy: A raises the real exchange rate and increases net exports. B. raises the real exchange rate and does not change net exports C. raises the real exchange and decreases net exports D. lowers the real exchange rate 10. An increase in the trade surplus of the a small open economy could be the result of A. a domestic tax cut. B. an increase in government spending.
1. The correct option is C. The production function Y = AKO^-2.20 indicates that production has decreasing returns to scale. Here, when output (Y) is multiplied by K and L together, the output will be multiplied by a power of less than 1.2 .
2. An increase in the trade surplus of a small open economy could be the result of C. An increase in the world interest rate. An increase in world interest rates will attract foreign investors to invest in the economy.
Therefore, the demand for the currency of the small open economy will increase, resulting in an increase in the exchange rate of the country. As the exchange rate increases, the cost of imports will fall. Thus, the country will experience an increase in its trade surplus. 3.
The correct option is C. There is an excess demand for commodities at the existing interest rate. If an economy is to the left of the IS curve, it indicates that the level of output in the economy is lower than the full employment level of output. As a result, there will be excess demand for commodities at the existing interest rate. 4. The correct option is B. When the IS curve is horizontal, fiscal policy is highly effective.
A horizontal IS curve indicates that the economy is in a liquidity trap, where monetary policy has no effect on aggregate demand, and fiscal policy becomes the only effective policy tool. 5. The correct option is B. Treasury Single Account is not a part of the balance of payment. The balance of payments of a country is a record of all economic transactions between the residents of a country and the rest of the world over a particular period. It consists of the current account, capital account, and financial account.6.
The correct option is A. Output will rise when fiscal and monetary policies are both expansionary. Fiscal expansion and monetary expansion result in an increase in aggregate demand, leading to a rise in output.7. The correct option is D. Autonomous consumption is independent of the level of income. Autonomous consumption is the minimum level of consumption that must take place even when income is zero.8.
The correct option is C. When the interest rate controlled by the Fed reaches zero, monetary policy loses its effectiveness. The interest rate controlled by the Fed is the federal funds rate, which is the rate at which banks lend to each other. When the Fed lowers the rate to zero, banks cannot lower interest rates any further, making monetary policy ineffective. 9. The correct option is A.
A policy that lowers imports raises the real exchange rate and increases net exports. When the government lowers imports, it decreases the demand for foreign currencies, leading to an appreciation of the domestic currency. An increase in the exchange rate makes the country’s exports relatively expensive and imports cheaper, thus increasing net exports. 10. The correct option is A.
A domestic tax cut can lead to an increase in trade surplus of a small open economy. When the government reduces taxes, disposable income of the people increases, leading to an increase in aggregate demand. An increase in aggregate demand results in an increase in output, leading to an increase in exports.
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What is Transnationality Index (TNI)? How is the TNI of MNEs from developing economies
compared with their counterparts from developed economies? Why?
Transnationality Index (TNI) measures the extent to which an MNE's operations are internationalized. The TNI is calculated as the average of three components: foreign sales, foreign assets, and foreign employment.
It ranges from 0 to 1, with 1 representing a firm with operations in a single country and 0 representing a firm with operations in several countries. An MNE from a developed country typically has a higher TNI than an MNE from a developing country. The main reason is that developed-country MNEs have the resources and capabilities required to internationalize operations to a greater extent than their developing-country counterparts.
Additionally, developed country MNEs are more likely to use FDI to enter foreign markets, which generally results in a higher TNI than other modes of internationalization, such as exporting or licensing.
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Consider the following categories of products: beer, candy bars, and running shoes
For each category, please do the following:
identify the basic level, superordinate, and subordinate levels in the taxonomic structure
identify prototypes for each category, and explain your choices
identify the specific features and associations consumers likely have with the prototypes
Beer Superordinate level and Alcohol Subordinate level and Pale Ale Basic level and Budweiser Prototype.
Candy bars Superordinate level: Candy Subordinate level: Chocolate Basic level: Snickers Prototype.
Running Shoes Superordinate level: Shoes Subordinate level: Athletic Basic level: Running shoes Prototype
Beer Superordinate level and Alcohol Subordinate level and Pale Ale Basic level and Budweiser Prototype.
A frothy, golden brew in a pint glass with a thick head, served ice-cold. The Budweiser clydesdales trot through the snow while a jingle plays in the background. The slogan "This Bud's for you" appears on the screen. For those who enjoy socializing with their friends, beer is often associated with this image. The image of a person who is carefree, sociable, and perhaps enjoys outdoor activities.
Candy bars Superordinate level: Candy Subordinate level: Chocolate Basic level: Snickers Prototype:
Chocolate, peanuts, and nougat covered in a red wrapper with a blue label. For those who need a quick energy boost or a pick-me-up in the middle of the day, Snickers is a well-known and beloved chocolate bar. Snickers is often associated with sports, especially football and other high-energy events.
Running Shoes Superordinate level: Shoes Subordinate level: Athletic Basic level: Running shoes Prototype:
A pair of lightweight, breathable shoes with a low profile. For athletes and people who are committed to staying in shape, running shoes are a must-have. Running shoes are often associated with health, fitness, and athleticism.
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1) A worker has an income of $12,000.00, an MPC of 0.80 and pays taxes of 15% and also receives a remittance of $50. Calculate consumption and savings. 2) An economy has a consumption function of C=50+90Yd. Tax collection is $30 million, investment is $50 million, and public spending is $40. Calculate the macroeconomic balance.
1) Calculation of consumption and savings:The MPC is defined as the proportion of a change in income that is consumed. MPC = change in consumption/change in incomeGiven the MPC of 0.80, the remaining proportion of income is saved.
MPS = 1 - MPC = 1 - 0.80 = 0.20The total income received by the worker is $12,000.00, and the taxes paid is 15%, so the net income is:$12,000 - (0.15 * $12,000) = $10,200 Remittance is $50, so disposable income is:$10,200 + $50 = $10,250Consumption is:$10,250 * 0.80 = $8,200 Savings is:$10,250 * 0.20 = $2,050 Therefore, consumption is $8,200 and savings are $2,050.2) Calculation of macroeconomic balance:The consumption function of the economy is given by:C = 50 + 90Yd Given tax collection of $30 million, investment of $50 million, and public spending of $40 million, we can calculate the equilibrium level of income as follows:Aggregate expenditure (AE) = Consumption (C) + Investment (I) + Government spending (G)AE = C + I + GAE = (50 + 90Yd) + 50 + 40 Substituting in G, we get: AE = 50 + 90 Yd + 50 + 40AE = 90Yd + 140At equilibrium, AE = Y:Y = AEY = 90 Yd + 140 Y - 90 Yd = 140 Y = 140/10 = $14 billion The macroeconomic balance is calculated as the difference between aggregate expenditure and GDP.
Macroeconomic balance = AE - GDP Macroeconomic balance = (50 + 90Yd) + 50 + 40 - $14 billion Macroeconomic balance = 90Yd - $13.86 billion Therefore, the macroeconomic balance is $90Yd - $13.86 billion.
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A company estimates that warranty expense will be 5% of sales. The company's sales for the current period is $187,000. The current period's entry to record the warranty expense is:
No entry is recorded until the items are returned for warranty repairs.
A.
Warranty Liability 9,350
Cash 9,350
B.
Estimated Warranty Liability 9,350
Estimated Warranty Expense 9,350
C.
Warranty Expense 9,350
Sales 9,350
D.
Warranty Expense 9,350
Estimated Warranty Liability 9,350
The correct answer is D. The journal entry to record the warranty expense is Warranty Expense 9,350 and Estimated Warranty Liability 9,350
This journal entry records the estimated warranty expense for the current period. The estimated warranty expense is calculated by multiplying the estimated warranty expense percentage (5%) by the sales for the current period ($187,000). The estimated warranty liability is a liability account that records the estimated amount of warranty claims that will be incurred in the future.
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Logistics and Supply chain
1. How big data analytics is shaping the actual supply chain?
how will be used in the future?
2. internet of things: how ill it change operations in the
future?
3. pandemic:
General rules: Every assignment will be checked for plagiarism Referencing is allowed from scholar or accountable sources and should be done in Harvard Style Minimum 1500 words Minimum
a. How big data analytics is shaping the actual supply chain and its future use:
Big data analytics has had a significant impact on the actual supply chain by providing valuable insights and enabling informed decision-making. With the increasing digitization of supply chain processes, vast amounts of data are being generated at various touchpoints, including procurement, production, logistics, and customer interactions. Big data analytics leverages advanced algorithms and technologies to analyze this data, extract meaningful patterns, and derive actionable intelligence.
In the present, big data analytics is shaping the actual supply chain in several ways. It allows for real-time visibility into supply chain operations, enabling proactive monitoring, early detection of issues, and timely response. Through data analysis, supply chain managers can identify bottlenecks, optimize inventory levels, streamline transportation routes, and enhance overall operational efficiency.
Moreover, big data analytics facilitates demand forecasting and predictive analytics, enabling organizations to anticipate customer demand patterns, optimize production schedules, and minimize stockouts or excess inventory. It also helps in supplier management by analyzing supplier performance, identifying potential risks, and improving supplier collaboration and relationship management.
In the future, big data analytics is expected to have an even more transformative impact on the supply chain. Advancements in artificial intelligence (AI) and machine learning will enable more sophisticated data analysis, leading to improved accuracy and predictive capabilities. This will help organizations in making data-driven decisions and identifying opportunities for optimization and cost reduction.
Additionally, big data analytics will play a crucial role in enhancing supply chain resilience. By analyzing historical data and external factors, organizations can identify potential disruptions and develop proactive strategies to mitigate risks. This includes building agile and flexible supply chains, identifying alternative sourcing options, and implementing robust contingency plans.
Furthermore, big data analytics will drive supply chain sustainability efforts. By analyzing environmental data and supply chain metrics, organizations can identify areas for improvement, optimize transportation routes to reduce carbon emissions, minimize waste, and promote responsible sourcing practices.
In conclusion, big data analytics is transforming the actual supply chain by providing valuable insights and enabling data-driven decision-making. It improves operational efficiency, enhances demand forecasting, enables proactive risk management, and drives sustainability efforts. In the future, advancements in technology and AI will further enhance the capabilities of big data analytics, leading to more advanced supply chain optimization and resilience.
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.In a simple economy suppose that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. All data are in billion dollars:
Category Value
Consumption 4,500
Gross Investment 1,200
Depreciation 655
Profits 655
Exports 500
Compensation of Employees 5240
Government Purchases 900
Direct Taxes 750
Saving 546
Imports 550
Find GDP using the (a) expenditure and (b) income approach.
The Gross Domestic Product (GDP) of a nation is the sum of all final goods and services produced in that nation over a specified period.
There are two approaches to calculate GDP: expenditure approach and income approach. Given, Category Value Consumption 4,500Gross Investment 1,200 Depreciation 655Profits 655Exports 500Compensation of Employees 5240Government Purchases 900Direct Taxes 750Saving 546Imports 550(a) Expenditure Approach: GDP = C + I + G + (X - M)where, C = Consumption I = Gross Investment G = Government Purchases X = Exports M = Imports Substituting the given values, we have, GDP = 4,500 + 1,200 + 900 + (500 - 550)GDP = $4,500 + $1,200 + $900 - $50GDP = $7,550 billion(b) Income Approach: GDP = compensation of employees + gross profits + taxes on production and imports + depreciation + net indirect taxes Substituting the given values, we have, GDP = 5,240 + 655 + 0 + 655 + 0 - 750 + 655 + (-655)GDP = $5,000 billion Thus, the main answer is: Using the expenditure approach, GDP is $7,550 billion. Using the income approach, GDP is $5,000 billion.
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Income Statement Items
From the following list of selected items taken from the records of Bobcat Appliance Service as of a specific date, identify those that would appear on the income statement.
1. Accounts Payable
2. Cash
3. Common Stock
4. Fees Earned
5. Land
6. Rent Expense
7. Retained Earnings
8. Supplies
9. Supplies Expense
10. Wages Payable
The items that would appear on the income statement are Fees Earned, Rent Expenses, and Supplies Expenses. Therefore, the correct answers are (4), (5), and (6).
The income statement, also known as the statement of earnings or profit and loss statement, presents the revenues and expenses of a company over a specific period. It provides information on the profitability of the business and its ability to generate income.
"Fees Earned" represents the revenue earned by Bobcat Appliance Service for providing services to its customers. This item reflects the company's primary source of income.
"Rent Expense" represents the cost incurred by the company for renting or leasing its business premises. This expense is necessary for the operation of the business and is subtracted from the revenue to calculate the net income.
"Supplies Expense" represents the cost of supplies consumed in the normal course of business operations. This expense is deducted from the revenue to determine the net income.
The other items listed, such as "Accounts Payable," "Cash," "Common Stock," "Land," "Retained Earnings," "Supplies," and "Wages Payable," are not directly related to the income statement. They may appear on the balance sheet or statement of retained earnings, which provide information about the company's financial position and changes in equity.
In conclusion, the income statement includes items that reflect the revenue earned (such as "Fees Earned") and expenses incurred (such as "Rent Expense" and "Supplies Expense") during a specific period, allowing for the calculation of net income. Therefore, the correct answers are (4), (5), and (6).
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Bond valuation-Quarterly interest
Calculate the value of a $500-par-value bond paying quarterly interest at an annual coupon interest rate of 13% and having 9 years until maturity if the required return on similar-risk bonds is currently a 12% annual rate paid quarterly.
The present value of the bond is $ ________. (Round to the nearest cent.)
The present value of the bond is $ 546.74. To calculate the present value of the bond, we can use the formula for the present value of a bond:
PV = C * [1 - (1 + r)^(-n)] / r + F / (1 + r)^n
Where:
PV = Present value of the bond
C = Coupon payment per period ($500 * Annual coupon interest rate / Number of coupon payments per year)
r = Required return per period (12% / 4)
n = Number of periods (9 * 4)
Let's plug in the values:
C = $500 * 13% / 4 = $16.25
r = 12% / 4 = 3%
n = 9 * 4 = 36
PV = $16.25 * [1 - (1 + 0.03)^(-36)] / 0.03 + $500 / (1 + 0.03)^36
Calculating this expression gives us the present value of the bond:
PV ≈ $546.74
Therefore, the present value of the bond is approximately $546.74.
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Suppose that I dollar equals 90 Japanese Yen. Jamal, a U.S. tourist, travels to Japan and wants to buy something there that costs 900 Yen. How many dollars does it cost?
If 1 U.S. dollar equals 90 Japanese Yen, we can calculate the cost of the item in dollars by dividing the cost in Yen by the exchange rate.
Cost of item in Yen = 900 Yen
Exchange rate: 1 U.S. dollar = 90 Japanese Yen
Cost of item in dollars = Cost of item in Yen / Exchange rate
Cost of item in dollars = 900 Yen / 90 Yen/USD
Cost of item in dollars = 10 USD
Therefore, the item that costs 900 Yen would cost 10 U.S. dollars for Jamal, the U.S. tourist.
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Products are completed in the manufacturing process 2. Sunk costs 3. Factory overhead applied to the production process 4. Book value of a team 5. Opportunity cost 6. Operating leverage 7. Contribution margin 8. Margin of safety 9. Factory overhead incurred to credit 10. Credit sales 11. Manufacturing costs are added to the productive process 12. Purchase of materials on credit 13. Break even point 14. Requisition of materials 15. The expense of the finished products is recognized and sold 16. incremental analysis A. Evaluate the impact of two alternative courses of action on the income of the company B. Materials Inventory Accounts Payable C. Income and expenses are exactly the same amount D. Finished Goods Inv. Work-in-Process E. Cost of Goods Sold Finished Goods F. Factory Overhead Accounts Payable G. Costs previously incurred and that are not relevant in relation to future decisions H. Work in Process Materials Inventory 1. Accounts Receivable Sales Revenue J. Example of a "sunk cost" K. Measures the relationship between contribution margin and income from operations L. The benefit foregone when an alternative is selected in contrast to another available option M. Work-in-Process Factory Overhead. N. Work in process Materials Inventory Wages Payable (direct labor) Factory Overhead O. Indicates how much sales revenue can be reduced without the company incurring a loss P. Difference between selling price and variable costs of the product DIC WA
Manufacturing-related terms: 1. Manufacturing process completes products. 3. Factory overhead is applied to the production process. 9. Factory overhead is incurred to credit.
11. Manufacturing costs are added to the productive process. 12. Purchases of materials on credit are made. 15. Expense of finished products is recognized and sold. 2. Sunk costs are costs previously incurred and that are not relevant to future decisions. 5. Opportunity cost is the benefit foregone when an alternative is selected in contrast to another available option.
7. Contribution margin measures the relationship between the contribution margin and income from operations. 8. Margin of safety indicates how much sales revenue can be reduced without the company incurring a loss. 13. Break-even point is the point where income and expenses are exactly the same amount. 16. Incremental analysis evaluates the impact of two alternative courses of action on the income of the company.
Evaluate the impact of two alternative courses of action on the income of the companyB. Materials Inventory Accounts PayableC. Income and expenses are exactly the same amountD. Finished Goods Inv. Work-in-ProcessE. Cost of Goods Sold Finished GoodsF. Factory Overhead Accounts PayableG. Costs previously incurred and that are not relevant in relation to future.
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Question 8 As a method for promoting critical thinking, brainstorming can be used. O True False L A Moving to another question will save this response. DELL
The statement "As a method for promoting critical thinking, brainstorming can be used" is true.
Brainstorming is a widely recognized technique for promoting critical thinking and generating creative ideas. It involves a group of individuals coming together to generate a large number of ideas on a specific topic or problem.
During a brainstorming session, participants are encouraged to think freely, express their ideas without judgment, and build upon each other's contributions.
This process helps stimulate critical thinking by encouraging participants to explore different perspectives, challenge assumptions, and generate innovative solutions.
By fostering an open and collaborative environment, brainstorming allows for the evaluation and analysis of multiple ideas, leading to more informed decision-making and problem-solving.
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1. a. On the radio it says that it will rain Saturday. b. Brochures will be sent to whoever asks for them. c. The west is such a scenic area. d. The incidents of home accidents is far too high. 2. a. The shipment arrived June 6; however, we can begin installation anytime. b. Will they admit any more student at the community college? c. Can their ever be enough trees? d. Half the tables in the cafeteria needs repairs. 3. a. b. This tire is better than any on the road today. The Douglas' car needs repairing. c. You should get a ten % discount. Lay the tape in the cartridge. d. 4. a. The coat cost forty-three $. b. The new stationery is of high-quality paper, which is the reason we are writing you. c. Save your money today so you will be financially safe tomorrow. What is your martial status? d. 5. a. All the members of the committee was present for the special announcement. b. Needless to say, we sincerly regret the delay in shipping your order. c. If it had been possible, I would have attended both meetings. d. Auto manufacters have kept prices down to stimulate sales. 6. a. We recieved many responses to our advertisement. b. We agreed to reprint only 500 copies of our latest brochurs. c. The panel must submit it's report by June 30. d. Grogan & Lamb no longer allows a 2 percent discount for payment within 30 days. 7. a. Which is best, a commission on sales or a straight salary? b. Throughout the industery, apparently, sales have dropped in May. c. Her recommendations were immediately accepted by our manager. d. Ask Hogan to revise this monthly statment for Anderson Hardware. a b c d a b c d a b c d a b c d a b c d a b c d a b c d
1. d. The incidents of home accidents is far too high.2. a. The shipment arrived June 6; however, we can begin installation anytime.
3. d.4. d. 5. d. Auto manufacturers have kept prices down to stimulate sales.6. d. Grogan & Lamb no longer allows a 2 percent discount for payment within 30 days.7. b. Throughout the industry, apparently, sales have dropped in May.1. d. Far too many accidents happen at home.2. The cargo arrived on June 6, however installation may start whenever you choose.3. d.4. d. 5. d. To increase sales, automakers have kept prices low.Grogan & Lamb no longer offers a 2% discount for payments made within 30 days. 6.7. b. It appears that sales decreased in May across the board for the sector.
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Make the graph and then answer the question. In the graph you've just made, what is equilibrium real GDP and the price level if aggregate demand is AD,? Equilibrium real GDP is $ trillion and the price level is
In the context of aggregate demand and aggregate supply, equilibrium real GDP is the level of output where aggregate demand (AD) equals aggregate supply (AS). At this point, there is no upward or downward pressure on prices, and the economy is in a stable position.
To determine the equilibrium real GDP and price level, we would need information about the specific values of aggregate demand (AD), aggregate supply (AS), and any other relevant factors such as fiscal or monetary policy measures.
Please provide the values or equations for aggregate demand (AD), aggregate supply (AS), and any other pertinent information, and I'll be happy to assist you further in determining the equilibrium real GDP and price level.
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For 2021, Sherri has a short-term loss of $2,940 and a long-term loss of $5,700
a. How much loss can Sherri deduct in 2021?
b. How much loss will Sherri carry over to 2022, and what is the character of the loss carryover?
a. The amount of loss Sherri can deduct in 2021 depends on the tax rules and limitations set by the tax authorities.
In general, for individuals, the maximum allowable deduction for capital losses is $3,000 per year ($1,500 for married individuals filing separately). However, any unused capital losses can be carried forward to future years.
In this case, Sherri has a total loss of $8,640 ($2,940 short-term + $5,700 long-term). Since the maximum deduction for 2021 is $3,000, Sherri can deduct $3,000 of her losses in 2021.
b. The remaining loss that Sherri cannot deduct in 2021 will be carried over to future years. In this case, the loss carryover would be $5,640 ($8,640 - $3,000 deducted in 2021). The character of the loss carryover depends on whether it is a short-term or long-term loss.
Based on the information provided, it is not specified whether the short-term loss or the long-term loss is larger. If the short-term loss is larger, the loss carryover would be considered a short-term loss carryover. If the long-term loss is larger, it would be a long-term loss carryover. The character of the loss carryover determines how it will be treated for tax purposes in future years.
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10. An airport has three rental car companies that rent a particular type of car. Company I offers a $23.50 daily rate with unlimited mileage (that is, there is no additional charge, regardless of how
The equation of the total cost (C) for each company in terms of x are:C(x) = 23.50 for Company I, C(x) = 22.50 + 0.20x for Company II, and C(x) = 19.50 + 0.25x for Company III.
Company I offers a $23.50 daily rate with unlimited mileage (that is, there is no additional charge, regardless of how much the car is driven). Company II offers a daily rate of $22.50 and $.20 per mile. Company III offers a daily rate of $19.50 and $.25 per mile. Let x represent the number of miles driven in a day.
To find the equation of the total cost for each company in terms of x, we can use the formula:C = cost of rental + cost of mileage
For company I, the daily rate is $23.50 and there is no additional charge for mileage, so the equation for company I is:C(x) = 23.50
For company II, the daily rate is $22.50 and the additional charge for mileage is $0.20 per mile, so the equation for company II is:C(x) = 22.50 + 0.20x
For company III, the daily rate is $19.50 and the additional charge for mileage is $0.25 per mile, so the equation for company III is:C(x) = 19.50 + 0.25x
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In a multiple regression model that satisfies the Gauss-Markov assumptions, our estimate for coefficient on 1 will be less precise when:
a. there is less variation in
b. All of the other statements hold.
c. we have a sample size of 1000 observations, as opposed to a sample of 50 observations.
d. there is a low correlation between x₁ and the other independent variables in the model.
The correct option is option (a) . The estimate for the coefficient on 1 will be less precise when there is less variation in x₁.
When there is less variation in the independent variable x₁, it means that the values of x₁ are more similar or concentrated around a specific value. In such cases, the relationship between x₁ and the dependent variable becomes less pronounced, making it more challenging to estimate the coefficient accurately. T
he Gauss-Markov assumptions assume that there is sufficient variability in the independent variables to capture the relationship with the dependent variable. When there is less variation in x₁, the model's ability to discern the true effect of x₁ on the dependent variable is hindered, resulting in a less precise estimate for the coefficient.
Therefore, the estimate for the coefficient on 1 will be less precise in this scenario.
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Explain the differences between a sales forecast and an operating budget.
The sales forecast and operating budget is both important tools for financial planning. While the sales forecast is used to predict revenue, the operating budget is used to manage expenses.
Sales forecasts and operating budgets are two financial planning tools used by businesses. Both are essential to the success of the company. However, there are differences between the two. A sales forecast is an estimate of future sales within a given period. The sales forecast helps businesses to anticipate future demand and to plan accordingly. A sales forecast is an estimate of revenue. It also determines the number of products the company needs to sell to achieve the desired profit. An operating budget is a detailed plan that outlines how a company will spend its financial resources. The budget includes operating expenses such as rent, salaries, and utilities. The operating budget is used to determine whether a company can meet its financial obligations, how much money it needs to borrow, and how much money it has available to invest in new projects.
The main differences between a sales forecast and an operating budget are: A sales forecast is an estimate of future sales while an operating budget is a plan for managing expensesSales forecast focuses on sales, while the operating budget focuses on expenses. The sales forecast is prepared before the operating budget. The sales forecast is based on estimates while the operating budget is based on real dataSales forecast is used for strategic planning while the operating budget is used for day-to-day decision making. The sales forecast is used to predict sales volume and revenue, while the operating budget is used to determine the allocation of funds to different departments. Overall, the sales forecast and operating budget are both important tools for financial planning. While the sales forecast is used to predict revenue, the operating budget is used to manage expenses.
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For each of the following situations, decide whether Al has increasing, constant or diminishing marginal utility?
a. The more economic classes Al takes, the more he enjoys the subject. And the more classes he takes, the easier each one gets, making him enjoy each additional class even more than the one before.
b. Al likes loud music. In fact according to him, "the louder, the better." Each time he turns the volume up a notch, he adds 5 utils to his total utility.
c. Al enjoys watching reruns of the old sitcom Friends. He claims that these episodes are always funny, but he does admit that the more times he sees an episode, the less funny it gets.
d. Al loves toasted marshmallows. The more he eats, however, the fuller he gets and the less he enjoys each additional marshmallow. And there is a point at which he becomes satisfied: beyond that point, more marshmallows actually make him feel worse rather than better.
AI, or Artificial Intelligence, refers to the development and deployment of computer systems and algorithms that possess the ability to perform tasks that typically require human intelligence. AI aims to create machines or software that can perceive, reason, learn, and make decisions similar to humans.
AI encompasses a broad range of techniques and approaches, including machine learning, deep learning, natural language processing, computer vision, and robotics. These technologies enable AI systems to analyze large amounts of data, recognize patterns, make predictions, solve problems, and interact with humans or their environment.
a. Al has increasing marginal utility in this situation. The more economic classes he takes, the more he enjoys the subject, and the easier each class becomes, enhancing his enjoyment even further. Each additional class provides him with a higher level of utility than the previous one.
b. Al has constant marginal utility in this situation. Each time he turns the volume up a notch, he adds the same amount of 5 utils to his total utility. There is no indication that the additional utils increase or decrease with each increment of volume.
c. Al has diminishing marginal utility in this situation. While he claims that the episodes of Friends are always funny, he admits that the more times he sees an episode, the less funny it becomes. This implies that each additional viewing of the same episode provides him with a lower level of utility than the previous viewing.
d. Al has diminishing marginal utility and experiences a point of diminishing returns in this situation. The more marshmallows he eats, the less he enjoys each additional marshmallow. Furthermore, there is a point at which he becomes satisfied, beyond which more marshmallows make him feel worse rather than better. Initially, the marshmallows provide increasing utility, but eventually, the utility starts to decrease, leading to diminishing marginal utility.
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a) How does productivity play a role in microeconomics? How can business boost productivity?
b) According t the law of demand, gasoline should be falling in price, how does substitution explain why gas prices are still climbing?
c) Explain which economics are better at explaining overall human behavior, classical or behavioral. Be sure to give an example that proves your answer.
d) Explain the law of demand and the law of supply.
a) Productivity plays a crucial role in microeconomics as it determines the efficiency with which resources are utilized to produce goods and services. Higher productivity allows businesses to produce more output using the same amount of resources or produce the same output using fewer resources. This leads to cost savings, increased profitability, and economic growth.
Businesses can boost productivity through various measures such as investing in technology and equipment, improving production processes, providing training and skill development to employees, and implementing effective management practices.
b) The law of demand states that as the price of a good or service increases, the quantity demanded decreases, all other factors being equal. However, gas prices may still be climbing despite the law of demand due to the concept of substitution. Substitution refers to the idea that consumers can switch to alternative goods or services when the price of a particular good increases. In the case of gasoline, there may not be close substitutes readily available, leading consumers to continue purchasing gasoline even at higher prices. Factors such as limited availability of alternative fuels or lack of viable public transportation options can limit consumers' ability to substitute gasoline with other options, allowing gas prices to continue climbing.
c) Behavioral economics is better at explaining overall human behavior compared to classical economics. Classical economics assumes that individuals are rational decision-makers who always act in their best interests to maximize utility or profit. However, behavioral economics recognizes that humans are influenced by cognitive biases, social factors, and emotions, leading to deviations from rational behavior. For example, the concept of loss aversion in behavioral economics explains how people tend to value avoiding losses more than acquiring equivalent gains. This can be observed in real-world scenarios where individuals may be willing to pay more to avoid losing a particular good or service, even if it doesn't align with strict utility maximization.
d) The law of demand states that as the price of a good or service increases, the quantity demanded decreases, all other factors being equal. This means that there is an inverse relationship between price and quantity demanded. On the other hand, the law of supply states that as the price of a good or service increases, the quantity supplied also increases, all other factors being equal. This means that there is a direct relationship between price and quantity supplied. Both laws describe fundamental principles in economics that help explain the behavior of buyers and sellers in the market. They provide insights into how changes in price influence the behavior of consumers (demand) and producers (supply), ultimately shaping market equilibrium and prices.
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Mr Bo, a manager at Mamu Papi earns RM10,000 salary per month. He has been working in the same company for the past 20 years. As an appreciation to his long service, he is provided with the following benefits: • An unfurnished condo at 1 Persiaran Gurney. The rental of RM4,000 a per month is paid by the employer. The employer's portion of the Employee's Provident Fund, 12% of his monthly salary A new Sports Utility Vehicle (SUV) costing RM150,000 was given to him since 2018. Since this car is a hybrid, the company does not provide him with any petrol allowances. A gardener who is paid RM400 per month. A half day maid who is paid RM500 per month. • The company paid for RM10,000 worth of airfare for Mr Bo and his family to go for a holiday in Singapore in January 2021. RM2,000 medical and dental benefits
Mr Bo, as a long-serving employee at Mamu Papi, enjoys several benefits as an appreciation for his service.
These benefits include: Accommodation: Mr Bo is provided with an unfurnished condo at 1 Persiaran Gurney, and the rental cost of RM4,000 per month is fully paid by the employer.
Employee's Provident Fund (EPF): The employer contributes 12% of Mr Bo's monthly salary towards his EPF, which is a retirement savings scheme in Malaysia.
Company Vehicle: Since 2018, Mr Bo has been given a new Sports Utility Vehicle (SUV) worth RM150,000. As the car is a hybrid, the company does not provide him with any petrol allowances.
Domestic Help: Mr Bo is provided with a gardener who is paid RM400 per month and a half-day maid who is paid RM500 per month to assist with household tasks.
Holiday Expenses: In January 2021, the company paid for RM10,000 worth of airfare for Mr Bo and his family to enjoy a holiday in Singapore.
Medical and Dental Benefits: Mr Bo receives RM2,000 worth of medical and dental benefits to cover his healthcare expenses.
These benefits are provided by the company as a token of appreciation for Mr Bo's long service and contribute to his overall compensation package.
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In Problems 21 and 23 below, assume the risk-free rate is 8% and the expected rate of return on the market is 18%. Use the SML of the simple (one-factor) CAPM to answer these questions. 21. A share of stock is now selling for $100. It will pay a dividend of $9 per share at the end of the year. Its beta is 1. What must investor expect the stock to sell for at the end of the year? 23. A stock has an expected return of 6%. What is its beta?
21. To determine the expected stock price at the end of the year, we can use the dividend discount model (DDM) formula, which considers the dividend and the required rate of return:
Expected Stock Price = Dividend / (Required Rate of Return - Dividend Growth Rate)
Given that the dividend is $9 per share, the required rate of return is 18% (given in the problem), and the dividend growth rate can be assumed to be zero (since it is not provided), we can calculate the expected stock price:
Expected Stock Price = $9 / (0.18 - 0) = $9 / 0.18 = $50
Therefore, the investor can expect the stock to sell for $50 at the end of the year.
23. To determine the beta of the stock, we can use the capital asset pricing model (CAPM) formula:
Expected Return = Risk-Free Rate + Beta * (Market Return - Risk-Free Rate)
Given that the expected return is 6%, the risk-free rate is 8%, and the market return is 18% (given in the problem), we can rearrange the formula to solve for beta:
Beta = (Expected Return - Risk-Free Rate) / (Market Return - Risk-Free Rate)
= (0.06 - 0.08) / (0.18 - 0.08)
= -0.02 / 0.1
= -0.2
Therefore, the beta of the stock is -0.2.
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Which of the following statement is INCORRECT about the foundational assumption used in CVP analysis. O Behavior of revenue and costs can be graphed as a straight line. O Only selling price and variable cost per unit are known and constant. O The time value of money is ignored. Relative sales proportions of multiple products are known and constant.
The correct option is: "Only selling price and variable cost per unit are known and constant." CVP (Cost-Volume-Profit) analysis is an analytical tool for studying the relationship between costs, volume, and profits. This analysis is based on several underlying assumptions.
In CVP (Cost-Volume-Profit) analysis, it is assumed that the behavior of revenue and costs can be graphed as a straight line within the relevant range. The time value of money is often considered by discounting future cash flows. The relative sales proportions of multiple products are also taken into account to determine the overall contribution margin. However, it is not assumed that the selling price and variable cost per unit are known and constant. In reality, these values can vary based on factors such as market conditions, competition, and changes in input costs.
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12 13 14 15 16 ne following comparative balance sheet is given for Estern Co.: Assets Dec 31, 2021 Cash Dec 31, 2020 Notes Receivable $351,000 72,000 $58,500 Supplies & Inventory 63,000 81,000 121,500 Prepaid expense 31,500 54,000 Long-term investments 0 81,000 Machines and tools. 166,500 144,000 Accumulated depreciation-equipment Total Assets (63,000) (45.000) $639,000 $477.000 Liabilities & Stockholders' Equity Accounts payable $ 31,500 $ 76,500 166,500 211,500 Bonds payable (long-term) Common Stock 180,000 103,500 Retained Earnings 216,000 130.500 Total Liabilities & Stockholders' Equity $.639.000 $477.000 Income Statement Information (2021): 1. Net income for the year ending December 31, 2021 is $130,500. 2. Depreciation expense is $18,000. 3. There is a loss of $9,000 resulted from the sale of long-term investment. Additional information (2021): 1. All sales and purchases of inventory are on account (or credit). 2. Received cash for the sale of long-term investments that had a cost of $81,000, yielding a $9,000 loss. 3. Cash dividends paid is $45,000. 4. The company purchased new machines and tools for $22,500 cash. Required: Prepare the FIRST (Operating) and the SECOND (Investing) sections of the statement of cash flows for the year ended December 31, 2021.
To prepare the first (Operating) section and second (Investing) section of the statement of cash flows for Estern Co. for the year ended December 31, 2021, we need to analyze the given information and make adjustments for non-cash items. Here's the breakdown:
First (Operating) Section:
Net Income: $130,500
Add:
Depreciation Expense: $18,000
Loss from Sale of Long-Term Investment: $9,000
Operating Activities:
Net Income: $130,500
Adjustments for Non-Cash Items:
Depreciation Expense: $18,000
Loss from Sale of Long-Term Investment: $9,000
Changes in Current Assets and Liabilities:
Increase in Notes Receivable: ($279,000)
Decrease in Supplies & Inventory: $18,000
Decrease in Prepaid Expense: $22,500
Decrease in Accounts Payable: ($45,000)
Net Cash Provided by Operating Activities: $164,000
Second (Investing) Section:
Cash Inflows:
Proceeds from Sale of Long-Term Investment: $90,000
Cash Outflows:
Purchase of Machines and Tools: ($22,500)
Net Cash Used in Investing Activities: $67,500
Therefore, the first (Operating) section of the statement of cash flows for Estern Co. shows a net cash provided by operating activities of $164,000, while the second (Investing) section shows a net cash used in investing activities of $67,500.
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the 2019 compensation & benefits survey of the dietetics profession revealed that _____ of all rdns hold a master's degree. d) 53%
a) 25%
c) 50%
b) 42%
The 2019 compensation & benefits survey of the dietetics profession revealed that 53% of all Registered Dietitian Nutritionists (RDNs) hold a master's degree.
According to the 2019 survey data, the percentage of RDNs who hold a master's degree is 53%. This indicates that more than half of the surveyed professionals in the dietetics field have pursued advanced education beyond a bachelor's degree. Obtaining a master's degree in dietetics can provide RDNs with specialized knowledge and skills, enhancing their expertise in areas such as clinical nutrition, research, community nutrition, and management. This higher level of education demonstrates the commitment of these professionals to furthering their knowledge and staying up-to-date with current research and practices in the field of dietetics.
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Q4
Carpenter Schools, Inc. is authorized to issue 500,000 shares of $2 par common stock. The company issued 106,000 shares at $6 per share. When the market price of common stock was $10 per share, Carpenter declared and distributed a 10% stock dividend. Later, Carpenter declared and paid a $0.10 per share cash dividend. Prepare the journal entries to record these transactions. Explanations are not required.
Journal entries for the given transactions:Date Particulars Debit Credit 1. Issuance of shares Cash a/c Dr. $636,000 Common stock a/c Cr. $212,000 ($2 × 106,000) Paid in capital in excess of par value a/c Cr. $424,000 [$636,000 - $212,000]
2. Declaration of stock dividend Retained earnings a/c Dr. $11,200 ($112,000 × 10%) Common stock dividend distributable a/c Cr. $10,600 ($106,000 × 10%) Paid in capital in excess of par value a/c Cr. $600 ($10,600 - $10,000) 3. Payment of cash dividend Cash a/c Dr. $10,600 ($106,000 × $0.10) Dividend payable a/c Cr. $10,600Explanation:Issuance of shares: The company issued 106,000 shares at $6 per share. Therefore, the total cash received by the company will be 106,000 × $6 = $636,000. Now, the journal entry will be:Cash a/c Dr. $636,000To
Common stock a/c $212,000To Paid in capital in excess of par value a/c $424,000Declaration of stock dividend: The company declared a 10% stock dividend when the market price of the common stock was $10 per share. The number of shares to be issued for the stock dividend will be 106,000 × 10% = 10,600 shares. The market value of the shares at the time of declaration will be 10,600 × $10 = $106,000. Therefore, the journal entry will be:Retained earnings a/c Dr. $11,200To Common stock dividend distributable a/c $10,600To Paid in capital in excess of par value a/c $600Payment of cash dividend: The company declared and paid a $0.10 per share cash divid.
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