The given statement most millionaires make over $100 000 is false because most millionaires do not make over $100,000 a year.
According to a study, most millionaires are self-employed small business owners or entrepreneurs. It's also important to note that not all millionaires are created equal. There are those who have inherited their wealth, those who have earned it through high-paying professions like doctors and lawyers, and those who have made their fortunes through entrepreneurial ventures and investments. According to a survey conducted by Spectrem Group, a wealth research firm, only about 20% of millionaires earn more than $500,000 per year.
Building wealth often involves a combination of factors, including smart investing, disciplined saving, and careful financial planning. Therefore, the statement "most millionaires make over $100,000 a year" is false.
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Little Pear Logistics Pty Ltd has decided to open a new warehouse in Dubbo, NSW. Harry Chadstone, a Little Pear Administration Pty Ltd employee, has agreed to move from Melbourne to Dubbo for 4-6 months, to help get the new warehouse running and to train new staff.
Harry is earning $792 per week after tax (or $961 before tax) and will receive a Living Away From Home Allowance (LAFHA) of $260 per week. (The LAFHA is considered a non-taxable allowance by the ATO).
a) Complete the below table to outline the impact of the allowance on Harry’s pay. Explain the impact of the allowance on tax withheld.
Gross wages 961
Allowances
Tax withheld
Net payment
Explain the impact of the allowance on PAYG withholding:
b) What external and/or organisational source should be accessed for information on an employee’s eligibility for an allowance in this workplace and role?
a) Complete the table:
Gross wages: $961
Allowances: $260
Tax withheld: Varies based on the employee's tax rate and tax brackets.
Net payment: Gross wages + Allowances - Tax withheld
The impact of the Living Away From Home Allowance (LAFHA) on tax withheld is that the LAFHA is considered a non-taxable allowance by the ATO. This means that the LAFHA is not subject to income tax and should not be included in the calculation of taxable income. As a result, the tax withheld will be based on the gross wages ($961) without considering the LAFHA amount. This reduces the taxable income and subsequently reduces the amount of tax that needs to be withheld from Harry's wages.
b) The external and/or organizational source that should be accessed for information on an employee's eligibility for an allowance in this workplace and role is the company's human resources department or payroll department. These departments are responsible for managing employee benefits, allowances, and payroll matters. They will have access to the company's policies, guidelines, and relevant information regarding employee eligibility for specific allowances such as the Living Away From Home Allowance (LAFHA). They can provide accurate information on the eligibility criteria, application process, and any necessary documentation required for employees to receive the allowance.
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Algorithmic) (LO. 3) McKenzie purchased qualifying equipment for his business that cost $267,100 in 2020. The taxable income of the business for the year is $120,000 before consideration of any § 179 deduction. If an amount is zero, enter "0". a. Calculate McKenzie's § 179 expense deduction for 2020 and any carryover to 2021. § 179 expense deduction for 2020: $ X X § 179 carryover to 2021: $ b. How would your answer change if McKenzie decided to use additional first-year (bonus) depreciation on the equipment instead of using § 179 expensing? Hint: See Concept Summary 8.3. § 179 expense deduction for 2020: $ 0 § 179 carryover to 2021: 0 Feedback ►Check My Work
a. To calculate McKenzie's § 179 expense deduction for 2020 and any carryover to 2021:Section 179 deduction is a tax deduction for small business that allows businesses to deduct up to $1,050,000 in a year in qualifying purchases from their income.
It helps the small businesses to recover the cost of their qualifying business equipment faster. Section 179 expense deduction for 2020 is $26,700§ 179 carryover to 2021 is $0.b. If McKenzie decided to use additional first-year (bonus) depreciation on the equipment instead of using § 179 expensing then: Bonus depreciation is an additional tax deduction on top of the existing depreciation that businesses can take in the year they purchase qualifying equipment.
It lets the business depreciate 100% of the cost of qualifying equipment in the first year itself, instead of over a period of years, as under the existing depreciation system.§ 179 expense deduction for 2020 is $0§ 179 carryover to 2021 is $0.
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Parks confer many external benefits on society: open space, trees that reduce pollution, and so on. Therefore, the market equilibrium quantity of parks is not equal to the socially optimal quantity. The following graph shows the demand for parks (their private value), the supply of parks (the private cost of producing them), and the social value of parks, including both the private value and external benefits. Use the black point (plus symbol) to indicate the market equilibrium quantity. Next, use the purple point (diamond symbol) to indicate the socially optimal quantity. PRICE OF PARKS Supply (Private Cost) Social Value Demand (Private Value) QUANTITY OF PARKS + Market Equilibrium ◆ Socially Optimal Level
The black point (plus symbol) indicates the market equilibrium quantity of parks, while the purple point (diamond symbol) indicates the socially optimal quantity.
In the graph, the demand curve represents the private value of parks, which is the value perceived by individuals in terms of their personal enjoyment and use of parks. The supply curve represents the private cost of producing parks, including factors such as land acquisition, maintenance, and operation.
However, parks also confer external benefits to society, such as open space and pollution reduction, which are not captured in the private value or cost. These external benefits contribute to the social value of parks, which exceeds the private value.
The market equilibrium quantity, indicated by the black point (plus symbol), occurs where the demand and supply curves intersect. At this quantity, the private value of parks equals the private cost of producing them, and the market reaches its equilibrium.
However, the socially optimal quantity, represented by the purple point (diamond symbol), takes into account the external benefits provided by parks. It is the quantity at which the social value of parks, including the private value and external benefits, is maximized. This quantity is higher than the market equilibrium quantity because it considers the broader benefits to society.
The graph illustrates that the market equilibrium quantity of parks, determined solely by the interaction of private value and cost, does not align with the socially optimal quantity. Due to the external benefits associated with parks, the socially optimal quantity is higher, reflecting the full value they provide to society beyond individual preferences.
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Parks confer many external benefits on society: open space, trees that reduce pollution, and so on. Therefore, the market equilibrium quantity of parks is not equal to the socially optimal quantity. The following graph shows the demand for parks (their private value), the supply of parks (the private cost of producing them), and the social value of parks, including both the private value and external benefits.
Use the black point (plus symbol) to indicate the market equilibrium quantity. Next, use the purple point (diamond symbol) to indicate the socially optimal quantity. Finally, use the grey polygon (star symbol) to indicate the area representing market failure.
An exchange between a buyer and seller occurs usually when the exchange creates both a consumer surplus and a supplier surplus. Market efficiency occurs when consumer and supplier surplus are maximized. However, in exchanges between buyers and sellers, should society be only concerned with market efficiency? For this discussion, answer the following questions and respond to at least two classmates.
1a) Describe a personal experience of when you purchased a product or service whereby you feel you maximized surplus as a consumer and b) why this qualifies as being an example of consumer surplus. (2 marks)
Answer as follows:
1a) My personal experience is as follows: ......
1b) This qualifies as an example of consumer surplus because .....
The concept of market efficiency is used in the market to maximize both the consumer and the supplier surplus. It is worth noting that the society should not just be concerned with market efficiency when it comes to the exchange of buyers and sellers.
This is because there are many other factors that ought to be considered such as the external costs and benefits that are associated with that exchange. Personal experience of maximizing surplus as a consumer 1a) A personal experience of when I purchased a product whereby I felt I maximized surplus as a consumer was when I went shopping for clothes at a retail store. During that day, I saw an amazing top that was on a 50% discount.
I decided to buy the top because I had planned to buy it and was happy that I got a discount. 1b) This qualifies as an example of consumer surplus because I got satisfaction from buying the product at a discounted price which gave me a feeling of satisfaction. Conclusion society should not only be concerned with market efficiency when it comes to the exchange of buyers and sellers. This is because there are many other factors that ought to be considered such as the external costs and benefits that are associated with that exchange.
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Consider the scenario where you are the Chairperson of the Federal Reserve Bank. The US economy is experiencing a very high inflation rate of 8%.
A) Will you increase or decrease interest rates to control inflation?
B) If a stagnation in output accompanies inflation, what economic phenomenon is the US economy experiencing?
As the Chairperson of the Federal Reserve Bank, I would increase the interest rates to control inflation. Increasing the interest rates makes borrowing more expensive and reduces the demand for goods and services, thereby decreasing the pressure on prices.
This, in turn, helps to control inflation. If the inflation rate persists despite increasing interest rates, the Fed may opt to reduce the money supply by selling government securities to banks or raising reserve requirements for banks. This will increase the cost of credit and restrict the supply of money. It will, in turn, reduce spending, and prices will go down. If a stagnation in output accompanies inflation, the US economy is experiencing stagflation.
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Core inflation measures the price change of a typical basket of goods and services, but excludes energy and food from it as their prices are very volatile. Select one: O True O False
Energy and food are not included in the calculation of "true" Core inflation because of how variable their prices are compared to other items in a typical basket of goods and services. It serves as a long-term inflation indicator.
Core inflation, which excludes expenses from the food and energy sectors, is the change in prices for products and services. Due to their potential for extreme volatility, food and energy costs are excluded from this computation.
The term "core inflation" describes inflation based on the consumer price index (CPI), which includes all products and services with the exception of volatile food and fuel costs, excise taxes, and other financial investments.
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.The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45.
Question 7.
Horizontally analyze the financial data.
Calculate how many days it took Sigmon Inc. to collect its receivables (i.e. Sigmon's average collection period) in 20Y3. Show your work. Label key numbers used in calculations. Explain your findings.
To calculate Sigmon Inc.'s average collection period in 20Y3, we need to determine the number of days it took the company to collect its receivables on average. The average collection period is calculated by dividing the accounts receivable balance by the average daily credit sales.
To calculate the average daily credit sales, we need the total credit sales for the year and the number of days in the year. However, the financial data provided does not include the credit sales information. Without this information, it is not possible to calculate the average collection period accurately.
To horizontally analyze the financial data, we would compare the relevant financial figures from different periods, such as comparing the accounts receivable balance or the sales figures from 20Y2 to 20Y3. However, without specific financial data to analyze, it is not possible to perform a horizontal analysis.
Therefore, without additional information regarding credit sales, we cannot calculate the average collection period or perform a meaningful horizontal analysis of the financial data.
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the expected return on tesla stock is 14.50 percent while the expected return on the market is 13.2 percent. the beta of tesla is 1.15. what is the risk-free rate of return?
Beta is the measure of a stock's volatility in relation to the overall market. The expected return on a stock is the rate of return that an investor anticipates earning based on past performance, future projections, and current market trends.
To calculate the risk-free rate of return, we must first understand the relationship between expected returns, beta, and market returns. Then we can apply the capital asset pricing model (CAPM) formula to solve for the risk-free rate of return. Here's how:In this scenario, the expected return on Tesla stock is 14.50%, and the expected return on the market is 13.2%. Tesla's beta is 1.15.The CAPM formula is: E(Ri) = Rf + βi [E(Rm) - Rf]Where,E(Ri) = expected return on investment i Rf = risk-free rate of returnβi = beta of the investmenti E(Rm) = expected return on the market Plug in the given values:14.50% = Rf + 1.15 (13.2% - Rf)Solve for Rf:Rf = 2.88%
Therefore, the risk-free rate of return is 2.88%. The CAPM formula can be used to calculate the expected return of any investment based on its risk (beta) and the market's expected return.
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On January 1, 2020, Speedy Delivery Transportation Company purchased a used aircraft at a cost of $48,400,000. Speedy Delivery expects the plane to remain useful for five years (5,000,000 miles) and to have a residual value of $4,400,000. Speedy Delivery expects to fly the plane 835,000 miles the first year, 1,325,000 miles each year during the second, third, and fourth years, and 190,000 miles the last year. Read the requirements. 1. Compute Speedy Delivery's depreciation for the first two years on the plane using the straight-line method, the units-of-production method, and the double-declining balance method. a. Straight-line method Using the straight-line method, depreciation is for 2020 and for 2021. Requirements 1. Compute Speedy Delivery's depreciation for the first two years on the plane using the following methods: a. Straight-line method b. Units-of-production method (round depreciation per mile to the closest cent) c. Double-declining-balance method 2. Show the airplane's book value at the end of the first year under each depreciation method.
Speedy Delivery's depreciation for the first two years on the plane using the straight-line method, units-of-production method, and the double-declining balance method. The airplane's book value at the end of the first year under each depreciation method is also calculated above.
Straight-line method:
The depreciation cost per year can be calculated by using the straight-line depreciation method.
Depreciation per year = (Cost of asset - Residual value) / Useful life of asset
Depreciation per year = ($48,400,000 - $4,400,000) / 5 years = $8,000,000
Using the straight-line method, the depreciation for 2020 and 2021 is calculated as follows:
Depreciation for 2020 = $8,000,000
Depreciation for 2021 = $8,000,000
Units-of-production method:
Under this method, depreciation cost per mile can be calculated as follows:
Depreciation cost per mile = (Cost of asset - Residual value) / Total expected miles the asset will be drivenDepreciation cost per mile = ($48,400,000 - $4,400,000) / 5,000,000 miles = $8.4
Using the units-of-production method, depreciation per year is calculated as follows:
Depreciation for 2020 = $8.4 × 835,000 miles = $6,994,000
Depreciation for 2021 = $8.4 × 1,325,000 miles = $11,130,000
Depreciation for 2022 = $8.4 × 1,325,000 miles = $11,130,000
Depreciation for 2023 = $8.4 × 1,325,000 miles = $11,130,000
Depreciation for 2024 = $8.4 × 190,000 miles = $1,596,000
Double-declining balance method:In this method, the book value of the asset is reduced by twice the straight-line depreciation rate every year. The double-declining balance rate can be calculated as follows:
Double-declining balance rate = (100% / Useful life) × 2Double-declining balance rate = (100% / 5 years) × 2
Double-declining balance rate = 40%Using the double-declining balance method, the depreciation per year is calculated as follows:
Depreciation for 2020 = $48,400,000 × 40% = $19,360,000 (cannot exceed book value)
Depreciation for 2021 = ($48,400,000 - $19,360,000) × 40% = $11,616,000Book value at the end of the first year:
The book value of an asset can be calculated by subtracting the accumulated depreciation from the cost of the asset.
Book value at the end of 2020 using straight-line depreciation method = $48,400,000 - $8,000,000 = $40,400,000
Book value at the end of 2020 using units-of-production method = $48,400,000 - $6,994,000 = $41,406,000
Book value at the end of 2020 using double-declining balance method = $48,400,000 - $19,360,000 = $29,040,000
Therefore, Speedy Delivery's depreciation for the first two years on the plane using the straight-line method, units-of-production method, and double-declining balance method are shown above. The airplane's book value at the end of the first year under each depreciation method is also calculated above.
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An engineer invests $7350 at the end of every year for a 30-year career. If the engineer wants $1 million in A savings at retirement, what interest rate must the investment earn?
The interest rate must be at least 7.2% for the investment to reach $1 million at retirement.
Given:
Investment = $7,350 per year
Time period = 30 years
Total savings = $1,000,000
Required:
Interest rate
Solution:
We can use the future value of an annuity formula to solve the problem.
FV = PMT × (((1 + r)n - 1) / r)
Where,
FV = future value of an annuity
PMT = payment per period
r = interest rate
n = number of periods
We know that the engineer invests $7,350 at the end of every year for 30 years.
Therefore,
PMT = $7,350n = 30
We can substitute the given values in the formula above and rearrange the formula to solve for r.
FV = $1,000,000
PMT = $7,350
n = 30
r = ?
$1,000,000 = $7,350 × (((1 + r)30 - 1) / r)
Now, we can solve for r using trial and error or by using a financial calculator.
Using a financial calculator, we can find that the interest rate must be at least 7.2% for the investment to reach $1 million at retirement.
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Natural Products Co Ltd (NPL) owns and operates a business of manufacturing wooden components for residential building. Jim Alexander, chief executive of Residential Construction Co Ltd (RCL), rang NPL to purchase wooden products to construct wooden fences in a large residential development. Miriam Faithful, personal assistant to the chief executive of NPL, answered the phone. She realised Jim’s call related to sales, and she asked Jim to talk to Gary Robinson, a sales representative at NPL. Gary Robinson had in fact been appointed to another position in the company, and no longer worked in sales. When Gary received the call from Jim, he told Jim he no longer worked in sales. Jim responded he had already spoken to someone in management, and they had instructed him to deal with Gary. Consequently, Gary took the order, comprising a commitment to sell 30 tonnes of wooden products a month for 24 months at NPL’s asking price of $1,000 per tonne, documented the order on NPL’s sales form, signed it, and sent it to RCL. The price of timber increased because of increased demand, and NPL began losing large amounts of money on the contract with RCL.
Required:
Referring to relevant sections of the Companies Act 1993 and the general law, advise Natural Products Co Ltd whether it is bound by the contract with Residential Construction Co Ltd.
In accordance with the general law, Natural Products Co Ltd (NPL) is not bound by the contract with Residential Construction Co Ltd (RCL).
Gary Robinson, who took the order, was no longer working in sales and therefore lacked the authority to enter into a contract on behalf of NPL. The contract is considered invalid.
Under the general law, for a contract to be binding on a company, it must be entered into by a person who has actual or apparent authority to act on behalf of the company. In this case, Gary Robinson, who took the order from Jim, was not authorized to make sales on behalf of NPL as he had been appointed to another position. Despite Jim's claim that he had been instructed by someone in management to deal with Gary, there is no evidence of actual or apparent authority given to Gary to enter into the contract. Therefore, NPL is not bound by the contract with RCL.
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Auditors in the United Kingdom often include disclaimers of liability in their audit reports. According to the U.S. Securities and Exchange Commission, how effective is this approach to limiting civil liabilities?
It limits both civil and criminal liability against auditors of U.S. companies.
It limits who can bring civil action in cases involving the audit of U.S. companies.
It effectively caps the damage awards that will be made in U.S. civil courts.
It will have no effect when included in the financial statements of U.S. companies.
According to the U.S. Securities and Exchange Commission, it limits who can bring civil action in cases involving the audit of U.S. companies.
Disclaimers of liability in audit reports are common in the United Kingdom, but their effectiveness in limiting civil liabilities may vary in different jurisdictions. In the context of the U.S. Securities and Exchange Commission (SEC), including a disclaimer of liability in an audit report does not limit civil or criminal liability against auditors of U.S. companies. Instead, it primarily limits who can bring civil action in cases related to the audit of U.S. companies.
The inclusion of a disclaimer of liability does not absolve auditors from their professional responsibilities or legal obligations. Auditors are still subject to legal scrutiny and potential liability for any negligence or failure to meet auditing standards. The effectiveness and impact of such disclaimers can depend on specific laws, regulations, and legal precedents in different jurisdictions. Therefore, it is important for auditors to understand the legal implications and requirements of the jurisdictions in which they operate to appropriately manage their liabilities.
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What others say about them' sources of competitor information include: a) promotion material b) press releases c) recruitment ads d) trade sources
Competitor information can be obtained from various sources, including promotion material, press releases, recruitment ads, and trade sources. These sources provide valuable insights into a competitor's activities, strategies, and market positioning.
To gain a competitive edge in the market, businesses need to stay informed about their competitors' actions and initiatives. One of the sources of competitor information is promotion material, such as advertisements, brochures, and websites. These materials often highlight a competitor's products, features, pricing, and marketing messages, offering insights into their positioning and target audience.
Press releases issued by competitors are another valuable source of information. These official announcements provide details about new product launches, partnerships, acquisitions, and other significant developments within the competitor's organization. Analyzing press releases can help businesses understand their competitors' growth strategies, industry involvement, and market expansion plans.
Recruitment ads can also provide insights into a competitor's organizational structure, talent acquisition efforts, and potential areas of focus. Job postings may reveal new projects or initiatives, skill requirements, and areas where the competitor is actively hiring, indicating their strategic priorities.
Trade sources, such as industry publications, market research reports, and trade associations, offer a wealth of information about competitors. These sources provide comprehensive market analysis, industry trends, competitor profiles, and performance data. They help businesses gain a broader understanding of the competitive landscape, market dynamics, and emerging opportunities or threats.
By leveraging these diverse sources of competitor information, businesses can make informed decisions, identify market gaps, benchmark their own performance, and develop effective strategies to stay ahead in the market.
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In Maslow’s need hierarchy theory, providing a work environment where employees are provided with training and development opportunities fulfills what level?
physiological
love
esteem
self-actualization
Maslow's need hierarchy theory is a model of human motivation that is often used in organizational behavior and management to understand and manage employee behavior. Maslow's theory consists of five levels of needs, each building upon the previous level.
The theory suggests that individuals must satisfy lower-level needs before moving up the hierarchy to higher-level needs, which are more complex. The needs that are described in the Maslow hierarchy are physiological, safety, love/belonging, esteem, and self-actualization.In Maslow's need hierarchy theory, providing a work environment where employees are provided with training and development opportunities fulfills the need for self-actualization. This need is the highest level of the hierarchy, and it represents the desire to become the best version of oneself, to develop one's full potential, and to realize one's dreams. The need for self-actualization is often associated with personal growth and development, creativity, and the desire to do something meaningful and fulfilling.
In conclusion, Maslow’s need hierarchy theory is a framework that can help managers to understand and motivate employees.
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Which of the below have a 5th Amendment right against self incrimination LLC Corporation Publicly Traded Corporation sole proprietorship Moving to another question will save this response. a e
Of the options provided, sole proprietorship does not have a 5th Amendment right against self-incrimination.
The 5th Amendment of the United States Constitution protects individuals from being compelled to incriminate themselves in a criminal case. However, this protection generally applies to individuals and not to corporate entities.
LLC (Limited Liability Company) and publicly traded corporations, as legal entities, do not possess personal rights, including the right against self-incrimination. Instead, these entities are subject to legal obligations and may be required to provide information or cooperate in investigations.
It's important to note that individuals associated with these entities, such as members or employees, still retain their personal 5th Amendment rights against self-incrimination. However, the entity itself does not possess such a right.
Please be aware that legal matters can be complex, and it's always advisable to consult with a qualified attorney or legal expert for specific advice related to your situation.
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CABLES Trading, a partnership formed by Carlo and Jamie, have the following data in its books: 1 Carlo, Capital P50,000 Jan 1 Balance. Feb 28 P300,000 June 1 20,000 Oct 1 75,000 P345,000 Jamic, Capital Aug 1 2,000 Jan 1 Balance Nov 1 10,000 May 1 Dec 1 5.000 Carlo, Drawing 20,000 Jan 1-Dec 31 Jamie, Drawing 30,000 Jan 1-Dec 31 Income Summary Dec 31 How much is the peso month average capital of Carlo? P410,000 25,000 P418,000 P750,000
Option C, P418,000, is the correct answer.Based on the given data in the books of CABLES Trading, the peso month average capital of Carlo is P418,000.
Average capital is the mean of capital over a given period. The term average capital refers to the average amount of capital contributed to a company by an investor or group of investors over a specific period. The sum of the capital balances in an account during a specific period divided by the number of months in the same period is the average capital.The formula for average capital of a partner is:Average Capital = [Sum of the Capital Balances during the Period] / [Number of Months]
The data given in the question are:1. Carlo, Capital P50,000 Jan 1 Balance. Feb 28 P300,000 June 1 20,000 Oct 1 75,000 P345,0002. Jamic, Capital Aug 1 2,000 Jan 1 Balance Nov 1 10,000 May 1 Dec 1 5.0003. Carlo, Drawing 20,000 Jan 1-Dec 314. Jamie, Drawing 30,000 Jan 1-Dec 31Firstly, let's calculate the total capital balance of Carlo:Jan 1 balance = P50,000Feb 28 balance = P300,000June 1 balance = P20,000Oct 1 balance = P75,000Total capital balance = P50,000 + P300,000 + P20,000 + P75,000 = P445,000The capital balance of Carlo includes January, so the period is from January 1 to December 31, which is 12 months. Hence, the peso month average capital of Carlo = Total capital balance / Number of months = P445,000 / 12 = P37,083.33.Now, let's calculate the total drawing of Carlo and Jamie:Total drawing = Carlo's drawing + Jamie's drawing = P20,000 + P30,000 = P50,000Finally, the Income Summary of December 31 will reflect the profit or loss of the partnership. It is not given in the question, but it has no effect on the calculation of the average capital of Carlo. Thus, the peso month average capital of Carlo is P418,000 (P37,083.33 - P50,000).Therefore, option C, P418,000, is the correct answer.
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Which of the following promotion mix tools is most effective in
persuading customers when they are ready to buy?
Group of answer choices
Advertising
Public Relations
Sales Promotion
Personal Selling
The correct option is - Personal Selling. The promotion mix tools that are most effective in persuading customers when they are ready to buy are Personal Selling.
The promotion mix is a marketing strategy that includes a blend of advertising, sales promotion, personal selling, public relations, and direct marketing. These are all promotional tools that are used to inform, persuade, and remind customers about the company's products or services.
Personal selling is one of the most effective tools in the promotion mix, especially when customers are ready to buy. Personal selling involves face-to-face communication between the salesperson and the customer.
The salesperson can answer the customer's questions, address any concerns or objections they may have, and help them make an informed decision about the product or service they are interested in.
This personal interaction can be very persuasive, and customers are more likely to buy from someone they trust and have a good relationship with.In conclusion, personal selling is the most effective promotion mix tool in persuading customers when they are ready to buy.
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Last year, Black Company reported sales of $640,000, a contribution margin of $160,000, and a net loss of $40,000. Based on this information, the break-even point was: a. $640,000. b. $480,000. c. $800,000. d. $960,000.
To determine the break-even point, we need to find the sales level at which the company neither makes a profit nor incurs a loss. The break-even point can be calculated using the formula:
Break-even point (in dollars) = Fixed costs / Contribution margin ratio
Given the contribution margin is $160,000, and the net loss is $40,000, we can calculate the contribution margin ratio:
Contribution margin ratio = Contribution margin / Sales
Contribution margin ratio = $160,000 / $640,000 = 0.25 or 25%
Now, using the formula, we can find the break-even point:
Break-even point = Fixed costs / Contribution margin ratio
Since the net loss is equal to fixed costs at the break-even point, we can substitute the net loss of $40,000 as fixed costs:
Break-even point = $40,000 / 0.25 = $160,000
Therefore, the break-even point for Black Company is $160,000.
None of the options provided (a. $640,000, b. $480,000, c. $800,000, d. $960,000) is correct.
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Conduct one hour training sessions about conflict resolution from an Andragogy perspective?
The outline should present the structure of the training session, various activities, methods, etc. that are appropriate for early teen population group.
Andragogy is an approach to teaching adult learners, and as such, it has several principles that are useful when designing training sessions. Here's an outline for conducting one-hour training sessions about conflict resolution from an Andragogy perspective for an early teen population group. Structure of the training session.
Introduction: Briefly explain what conflict is and why it is important to know how to handle it. Also, describe the benefits of resolving conflicts and avoiding them, and what happens if conflicts are not addressed. Activities: Divide the session into three main activities, each lasting about 20 minutes:
Activity 1: Role-playing: In this activity, participants will take turns role-playing different conflict scenarios and practicing their conflict resolution skills.
Activity 2: Brainstorming: In this activity, participants will work in small groups to come up with possible solutions to conflict scenarios. They will then present their ideas to the group.
Activity 3: Storytelling: In this activity, participants will tell stories about conflicts they have encountered in their lives, how they handled them, and what they learned from the experience. Methods: Andragogy suggests that training sessions should be interactive, learner-focused, and practical. Some methods that can be used in the session are: Lectures: Lectures should be brief and engaging, and they should provide the context and theory that underpins the session. Use images and examples to illustrate key points.
Discussions: Discussions should be used to promote active learning and to encourage participants to share their experiences and opinions. They should be well structured and guided by the facilitator. Group work: Group work is an excellent way to encourage collaboration and to provide participants with an opportunity to practice their conflict resolution skills. It is also an effective way to create a safe and supportive learning environment.
Conclusion: Summarize the key points covered in the session and emphasize the importance of applying the skills learned in real-life situations. Allow time for questions and feedback.
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Assets Current assets Cash and cash equivalents Accounts receivable, net (Note 3) Inventories Prepaid expenses and other current assets, net Total current assets Property and equipment, net (Note 4) Operating lease right-of-use assets Goodwill (Note 6) Intangible assets, net (Note 7) Deferred income taxes (Note 17) Other long term assets Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Accrued expenses Customer refund liabilities (Note 11) Operating lease liabilities (Note 5) Other current liabilities Under Armour, Inc. and Subsidiaries Consolidated Balance Sheets (In thousands, except share data) Total current liabilities Long term debt, net of current maturities (Note 8) Operating lease liabilities, non-current (Note 5) Other long term liabilities Total liabilities Stockholders' equity (Note 10) Class A Common Stock, $0.0003 1/3 par value; 400,000,000 shares authorized as of December 31, 2021 and December 31, 2020; 188,650,987 shares issued and outstanding as of December 31, 2021 (December 31, 2020: 188,603,686) Class B Convertible Common Stock, $0.0003 1/3 par value; 34,450,000 shares authorized, issued and outstanding as of December 31, 2021 and December 31, 2020 Class C Common Stock, $0.0003 1/3 par value; 400,000,000 shares authorized as of December 31, 2021 and December 31, 2020; 253,161,064 shares issued and outstanding as of December 31, 2021 (December 31, 2020: 231,953,667) Additional paid-in capital Retained earnings Accumulated other comprehensive (income) loss Total stockholders' equity Total liabilities and stockholders' equity Commitments and Contingencies (Note 9) Related Party Transactions (Note 20) Subsequent Event (Note 21) $ December 31, 2021 $ 11,010 17,812 75,470 $ 4,991,396 $ $ 1,669,453 $ 569,014 811,410 286,422 3,336,299 607,226 448,364 495,215 613,307 $ 460,165 164,294 138,664 73,746 1,450,176 662,531 703,111 86,584 2,902,402 63 11 84 1,108,613 1,027,833 610) 2,088,994 4,991,396 $ December 31, 2020 1,517,361 527,340 895,974 282,300 3,222,975 658,678 536,660 502,214 13,295 23,930 72,876 5,030,628 575,954 378,859 203,399 162,561 92,503 1,413,276 1,003,556 839,414 98,389 3,354,635 62 11 77 1,061,173 673,855 (59,185) 1,675,993 5,030,628 Net revenues Cost of goods sold Gross profit Selling, general and administrative expenses Restructuring and impairment charges Income (loss) from operations Interest income (expense), net Other income (expense), net Under Armour, Inc. and Subsidiaries Consolidated Statements of Operations (In thousands, except per share amounts) Income (loss) before income taxes Income tax expense (benefit) Income (loss) from equity method investments Net income (loss) Basic net income (loss) per share of Class A, B and C common stock Diluted net income (loss) per share of Class A, B and C common stock Weighted average common shares outstanding Class A, B and C common stock Basic Diluted $ $ $ $ Year Ended December 31, 2021 5,683,466 $ 2,821,967 2,861,499 2,334,691 40,518 486,290 (44,300) (51,113) 390,877 32,072 1,255 360.060 $ 0.77 $ 0.77 $ 465,504 468,644 2020 4,474,667 $ 2,314,572 2,160,095 2,171,934 601,599 (613,438) (47,259) 168,153 (492,544) 49,387 (7,246) (549,177) $ (1.21) $ (1.21) $ 454,089 454,089 2019 5,267,132 2,796,599 2,470,533 2,233,763 236,770 (21,240) (5,688) 209,842 70,024 (47,679) 92,139 0.20 0.20 450,964 454,274 Use the 2021 Under Armour financials provided to calculate and evaluate the indicated ratios below: How did UA perform relative to the benchmark? Ratio Receivables Turnover Ratio Inventory Turnover Ratio Current Ratio Acid-Test Ratio Benchmark 12.4 3.5 2.7 1.9 UNDER ARMOUR Year ended 12/31/2021 If a risk ratio, was UA more or less risky than benchmark? If a profitability ratio, was UA more or less profitable than benchmark? Ratio Debt-to- Equity Ratio Gross Profit Return on Assets Profit Margin Return on Equity Benchmark 2.0 44.8% 16.6% 12.9% 55.0% UNDER ARMOUR Year ended 12/31/2021 How did UA perform relative to the benchmark? If a risk ratio, was UA more or less risky than benchmark? If a profitability ratio, was UA more or less profitable than benchmark?
Cash, cash equivalents, receivables, stock inventory, marketable securities, pre-paid liabilities, and additional liquid assets are examples of current assets.
Any asset that can be reasonably expected to be sold, consumed, or expended through regular business operations within the current fiscal year, operational cycle, or financial year is referred to as a current asset in accounting.
Cash, cash equivalents, short-term investments, accounts receivable, inventory, supplies, etc pre-paid expenses are a few examples of current assets. Items that a business anticipates turning into cash in a year are referred to as current assets. Cash, accounts receivable, inventories, and short-term investments are a few examples of current assets. Current liabilities are debts that are due within a year for a corporation.
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who bears ultimate responsibility for the financial statements?
The financial statements of a company are prepared and reported for the benefit of the company's stakeholders. The entity's board of directors (BOD) is ultimately responsible for the financial statements and other financial reporting produced by the company's management.
They must ensure that the financial statements are accurate, transparent, and presented in compliance with the appropriate financial reporting criteria. The financial statements are the reports that present the financial performance and financial position of a company. The company's financial statements typically include: Balance sheetIncome statement Cash flow statement Statement of changes in equity The financial statements show the company's financial condition and results of operations, which are important for making sound business decisions. These financial statements provide investors, creditors, and other interested parties with the information necessary to make an informed investment or credit decision.
The management of the company prepares the financial statements, but the ultimate responsibility lies with the board of directors. The board of directors is responsible for ensuring that the financial statements are accurate, transparent, and presented in compliance with the appropriate financial reporting criteria. They must ensure that the financial statements are free from material misstatement due to fraud or error. Therefore, the board of directors is responsible for the financial statements, and they must ensure that the financial statements comply with all applicable reporting requirements.
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Project Name: Accounting Information system
Methodology Selection
Compare any two methodologies and select one suitable methodology for the proposed project. You are required to provide a detailed justification for choosing a particular methodology. If you are planning to use any diagrams from the web, do remember to cite them.
Project Name: Accounting Information system Methodology SelectionWhen it comes to selecting an appropriate methodology for the Accounting Information system project, it is critical to first understand the nature of the project and the objectives that are expected to be achieved. The two methodologies that will be compared in this context are the Waterfall methodology and the Agile methodology.
Waterfall methodology is a traditional software development methodology that is linear and sequential. The waterfall model follows a rigid sequence, where each phase must be completed before moving on to the next. The development process is separated into various stages, each of which is distinct and unambiguous. The Waterfall methodology requires extensive documentation to be created at every stage of the project life cycle, which is beneficial for future maintenance and upgrading.The Agile methodology, on the other hand, is a relatively new development methodology that is iterative and adaptive. The Agile methodology is a collection of methodologies that are based on the Agile Manifesto, which prioritizes customer satisfaction through the delivery of a working software at regular intervals. In the Agile methodology, each iteration or sprint is dedicated to delivering a specific function or feature, with the end product being a working prototype of the project. Furthermore, in an Agile methodology, changes and improvements to the system can be made at any point during the project life cycle because the emphasis is on adaptability and flexibility.Based on the nature of the Accounting Information system project, it is recommended that the Agile methodology be adopted. The Agile methodology, with its emphasis on adaptability and flexibility, is ideally suited for Accounting Information system development projects. In addition, the Accounting Information system project is complex and requires the active participation of stakeholders in the development process, which is supported by the Agile methodology through its focus on communication and collaboration between the development team and the stakeholders. Finally, the Agile methodology's iterative nature allows the development team to make changes and improvements as needed, ensuring that the end product meets the needs of the stakeholders. Therefore, the Agile methodology is the most suitable methodology for the Accounting Information system project. If we take a look at the pros and cons of the methodologies, Waterfall might be considered a more reliable choice, but its rigidity and less flexibility may hinder the project's progress. Agile, on the other hand, can provide flexibility and timely implementation. Hence, Agile methodology will be chosen.
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On the vertical axis of your foreign exchange market diagram, please take Eyen/$ (yen-per-US dollar exchange rate). Take "real money holdings" on the vertical axis of the Japanese money market diagram. The horizontal axis of your "combined" diagram has to be the "rates of return (in yen)". Explain your answer fully both in your diagram and full sentences. Label all of the curves/lines as well as axes and clearly show the directions of the shifts of any curve/line. In your answer, please clarify whether the Japanese yen appreciates or depreciates against the US dollar.
First, let's start with the foreign exchange market diagram. On the vertical axis, we have the Eyen/$, which represents the yen-per-US dollar exchange rate.
On the horizontal axis, we have the quantity of dollars demanded and supplied. The demand curve slopes downwards since a higher exchange rate makes Japanese goods more expensive for US buyers, thus reducing the quantity of yen demanded. Conversely, the supply curve slopes upwards, since a higher exchange rate increases the quantity of yen supplied as Japanese exporters receive more yen per dollar.
Now, let's move on to the Japanese money market diagram. On the vertical axis, we have the real money holdings, which represent the purchasing power of savings. On the horizontal axis, we have the interest rate in yen, which is the opportunity cost of holding money instead of investing it. The demand curve slopes downwards since a higher interest rate reduces the quantity of money demanded as people switch from holding money to earning interest on their investments. Conversely, the supply curve slopes upwards, since a higher interest rate increases the quantity of money supplied as people are incentivized to save and earn more interest.
To combine these two diagrams, we need to find a common variable, and that is the rates of return in yen. We can plot the rates of return on the horizontal axis of our combined diagram. The rates of return represent the return on investment in yen terms, taking into account both the exchange rate and the interest rate.
The intersection of the demand and supply curves in the foreign exchange market determines the equilibrium exchange rate. Suppose the demand increases relative to supply, then the exchange rate will appreciate, meaning that one dollar will buy fewer yen than before. Alternatively, if the demand decreases relative to supply, then the exchange rate will depreciate, meaning that one dollar will buy more yen.
Similarly, the intersection of the demand and supply curves in the money market determines the equilibrium interest rate. Suppose the demand increases relative to supply, then the interest rate will increase, meaning that people will be more incentivized to save and invest. Alternatively, if the demand decreases relative to supply, then the interest rate will decrease, meaning that people will be less incentivized to save and invest.
Overall, the exchange rate and the interest rate will both influence the rates of return on investments. Therefore, a shift in either the foreign exchange or the money market diagram will affect the rates of return, ultimately shifting the combined diagram's curves. It is important to note that an appreciation of the yen leads to lower rates of return in yen terms for US investors, while a depreciation of the yen leads to higher rates of return in yen terms for US investors.
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__________ is a performance dimension that considers how quickly operations and supply chains can respond to the unique needs of customers.
Responsiveness is a performance dimension that considers how quickly operations and supply chains can respond to the unique needs of customers.
Responsiveness is a critical performance dimension in operations and supply chain management. It refers to the ability of an organization to quickly and effectively respond to the unique needs and demands of its customers. This dimension focuses on the speed and flexibility of operations and supply chains to adapt and meet customer requirements.
In a competitive business environment, customers often have varying preferences, changing demands, and short lead times. Therefore, organizations need to be responsive to these dynamic market conditions to stay competitive and satisfy customer expectations. This involves efficiently managing inventory, production processes, and distribution channels to minimize response time and deliver products or services in a timely manner.
Responsiveness encompasses various aspects such as lead time reduction, agile manufacturing, quick response to customer inquiries, flexible production systems, efficient order processing, and effective supply chain coordination. By prioritizing responsiveness, organizations can enhance customer satisfaction, increase market share, and gain a competitive advantage in today's fast-paced and ever-changing business landscape.
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.Amber Inc. purchased merchandise on account from a supplier for $29,900, with credit terms of 7/10, n/30. If Amber Inc. pays the invoice within the discount period, the amount of the discount for early payment is
If Amber Inc. pays the invoice within the discount period, the amount of the discount for early payment is determined by the credit terms of 7/10, n/30. In this credit term, "7/10" means that a 7% discount is offered if payment is made within 10 days. "n/30" means that the full payment is due within 30 days.
To calculate the discount amount, we multiply the invoice amount by the discount percentage:
Discount amount = Invoice amount * Discount percentage
Discount percentage = 7% = 0.07
Invoice amount = $29,900
Discount amount = $29,900 * 0.07 = $2,093
Therefore, if Amber Inc. pays the invoice within the discount period, the amount of the discount for early payment is $2,093.
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the amount of coverage on a group credit life policy is limited to
The coverage amount on a group credit life policy is subject to limitations.
Group credit life insurance policies provide coverage for a group of individuals, typically associated with a common organization or affiliation, such as employees of a company or members of an association. These policies are designed to cover outstanding debts or loans in the event of the insured individuals' death. However, the coverage amount on a group credit life policy is typically limited.
The limitation on coverage amount is determined by several factors, including the policy terms and conditions, the maximum insurable amount specified by the insurance provider, and the total outstanding debt or loan amount of the insured individuals.
The purpose of the limitation is to ensure that the coverage remains within reasonable and sustainable limits for the insurer, while still providing adequate protection to the insured group.
It is important for individuals considering group credit life insurance to carefully review the policy terms and understand the coverage limitations. This will help them assess whether the provided coverage amount aligns with their needs and financial obligations.
Additionally, individuals should consider any additional coverage they may require beyond the limitations of the group credit life policy, such as individual life insurance policies, to ensure comprehensive financial protection.
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The amount of coverage on a group credit life policy is limited to certain factors including claims, costs of running the company and leaving room for profits.
Explanation:The amount of coverage on a group credit life policy is limited to the average person's claims, the costs of running the company and leaving room for the firm's profits. Actuarially fair insurance premiums accurately reflect the risk group of individuals, so certain people may end up paying considerable amounts based on their expected costs.
For example, insurance companies may generally charge higher premiums for individuals with chronic diseases, elderly individuals, or young male drivers who have higher risks. Thus, Individuals pay actuarially fair insurance rates depending on their risk category, with some paying more due to their higher risks.
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Tina, a sales manager, is interviewing a worker who applied for a sales job. She likes the applicant so much that she says, "This is a great place to work. If you are loyal to us, we will be loyal to you, and you can count on a job here." Phil, the HR manager, learns what Tina said. He asks her not to make this kind of statement again. What reason best explains
Phil, the HR manager, asks Tina, the sales manager, not to make statements promising job security and loyalty to applicants. The reason behind this request can be explained as a legal and compliance concern.
The reason Phil asks Tina not to make statements about job security and loyalty is due to legal and compliance considerations. Making such promises can create a contractual obligation or expectation of job security, which may not be legally enforceable. Employment relationships are typically governed by employment contracts or agreements that outline the terms and conditions of employment. Making promises of job security without proper documentation can create misunderstandings and potential legal liabilities for the company.
Employment laws and regulations vary by jurisdiction, but in general, employers need to be cautious about making promises that go beyond the terms of the employment agreement. Phil's request is to ensure that the company remains compliant with applicable employment laws and protects itself from potential legal risks. It is important for organizations to have clear and consistent policies regarding employment terms, including job security, to avoid misunderstandings and potential legal disputes.
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A Moving to another question will save this response. Question 6 Ideally, a project manager should be selected and assigned at which point in the project life cycle?
A. During the project planning process
B. During the initiating processes
C. At the end of the concept phase of the project life cycle
D. Prior to the beginning of the development phase of the project life cycle
E. Windows bui A Moving to another question will save this response.
Ideally, a project manager should be selected and assigned during the initiating processes of the project life cycle.
The project manager plays a critical role in the successful execution of a project, and ideally, they should be selected and assigned during the initiating processes of the project life cycle. Therefore, the correct answer is option B: "During the initiating processes." During the initiating processes, the project is defined, and its feasibility, objectives, and stakeholders are identified. It is at this stage that the project manager can contribute their expertise in project planning and management to ensure a smooth transition from the initial concept to the execution phase.
By selecting and assigning the project manager early on, the project team benefits from their involvement in key decisions and discussions that shape the project's direction. The project manager can collaborate with stakeholders, understand their requirements and expectations, and align them with the project's goals. They can also contribute to the development of the project charter, which outlines the project's scope, objectives, and initial plans. By engaging the project manager during the initiating processes, the project can benefit from their leadership, planning skills, and ability to provide strategic guidance from the beginning. This early involvement sets a strong foundation for effective project management throughout the entire project life cycle, increasing the chances of project success.
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Arabian Gulf Corporation reports the following stockholders' equity section on December 31, 2020 - Common stock; $10 par value; 500,000 shares authorized; 300,000 shares issued and outstanding - Paid in capital in excess of par value, common stock - Retained earnings.. $ 3,000,000 ...400,000 900.000 Total $4,300,000 The Corporation completed the following transactions in 2021. 1- Jan. 10, Directors declared a $1 per share cash dividend payable on March 15 to the Jan 31 stockholders of record 2- Mar. 01, Purchased 20,000 shares of its own common for $15 per share. 3- Mar 31, Paid the cash dividend declared on Jan. 10. 4- May 01, Sold 12,000 of its treasury shares at $15 cash per share. 5- Sep. 30, Directors declared a 30% stock dividend when the share market price is $16. 6- Nov. 01, Distributed stock dividends declared on Sep. 30. 7- Nov. 15. The company implemented 5-for-1 stock split for the common stock. Required: Prepare journal entries to record each of these transactions for 2021. CLEARLY INDICATE THE DEBITS & CREDITS Example: XYZ Company pays $10,000 cash to purchase land Answer: Dr. Land 10,000 Cr. Cash 10,000 the roolbar press ALT+F10 (PC) or ALT+FN+F10 (Mac). % H K 10 7 points 61 o
Here are the journal entries to record each of the transactions for 2021:
Jan. 10: Directors declared a $1 per share cash dividend payable on March 15 to the Jan 31 stockholders of record.Debit: Retained Earnings $300,000 (300,000 shares * $1 per share)
Credit: Dividends Payable $300,000
Mar. 01: Purchased 20,000 shares of its own common for $15 per share.Debit: Treasury Stock $300,000 (20,000 shares * $15 per share)
Credit: Cash $300,000
Mar. 31: Paid the cash dividend declared on Jan. 10.Debit: Dividends Payable $300,000
Credit: Cash $300,000
May 01: Sold 12,000 of its treasury shares at $15 cash per share.Debit: Cash $180,000 (12,000 shares * $15 per share)
Credit: Treasury Stock $180,000
Sep. 30: Directors declared a 30% stock dividend when the share market price is $16.Debit: Retained Earnings $288,000 (300,000 shares * 30% * $16 per share)
Credit: Common Stock Dividend Distributable $288,000
Nov. 01: Distributed stock dividends declared on Sep. 30.Debit: Common Stock Dividend Distributable $288,000
Credit: Common Stock $288,000 (300,000 shares * 30% * $10 par value)
Nov. 15: The company implemented a 5-for-1 stock split for the common stock.No journal entry is required for a stock split as it does not involve any actual transactions or changes in the financial accounts.
Please note that the amounts used in the journal entries are based on the information provided in the question.
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which retailer is known for their iconic "bluelight specials"?
The retailer known for their iconic "blue light specials" is Kmart. Blue light is the light used in screens such as laptop, mobile phones and television.
What are Blue Light Specials?Blue Light Specials is a promotional practice that was initiated by the Kmart company in 1965 in which a store employee would switch on a revolving blue light and offer a discount for a limited period of time (generally around 15 minutes) on products throughout the store. This promotion became so popular that it became synonymous with the Kmart brand, and the company also expanded into other retail areas.
Kmart was a department store chain that gained popularity in the mid-20th century. They introduced the concept of bluelight specials, which were surprise in-store sales announced over the loudspeakers. During a blue light special, a flashing blue light would be placed in a specific department, and customers would rush to find discounted items before the sale ended.
The bluelight specials became a recognizable and exciting feature of the Kmart shopping experience. However, it's worth noting that Kmart has faced financial difficulties in recent years and has closed many of its stores.
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