Marketing Plan for Baby Footwear Introduction The reason for choosing baby footwear for marketing is that it is an essential commodity for the target audience and it provides a significant potential for growth in the industry.
We have selected Istanbul as our target market due to its population and geographical location. Marketing Objectives .The marketing objectives of the Baby Footwear brand are. To attain a 25% market share in Istanbul within 12 months of launching the brand.
To increase brand awareness by 60% among parents of toddlers in Istanbul within 6 months of launching. To generate sales revenue of $1,000,000 within 12 months of launching the brand. Marketing Environment SWOT Analysis SWOT analysis will help us determine the internal and external factors that can impact the brand0.
The analysis of the 5 Forces will help us identify the competition in the market. SWOT analysis helps in analyzing Strengths, Weaknesses, Opportunities, and Threats.Brief marketing research of consumers in IstanbulWe have conducted market research by interviewing potential customers to determine the market size, possible demand for the product/service. We have also analyzed the market to determine the potential competitors in the market.
Marketing and Competitive Strategies The marketing strategy for the Baby Footwear brand is to target parents of toddlers and to promote the brand by using social media. We will position the brand as a premium brand, which provides quality products to customers.
Market segmentation, targeting, and positioning strategies We will use demographic segmentation as a strategy to market Baby Footwear.
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14. For each of following relations with no repeating group, indicate (1) every determinant (separate each determinant using a ;), (2) the most appropriate primary key for the relation and (3) the violation of the lowest normal form. Minus one point for each mistake. a. Contract (ContractBudget, ContractID, ConsultantID, ConsultantName, EmployeeID, ContractDescription, EmployeeName) Assumptions: (1) A consultant can work on more than one contract; (2) An employee can work on more than one contract; and (3) A contract can only have one employee and one consultant. Determinant(s): Primary key(s): Lowest normal form violation: Instruction (StudentID, InstructorID, CourseID) Assumptions: (1) A course can be taught by many instructor (2) A student can have more than one course; (3) A student always has the same instructor for the same course; and (4) An instructor only teaches one specific course. Determinant(s): Primary key(s): Lowest normal formal form violation: StudentSport (SportID, SportFee, StudentID, StudentName) b. C. d. e. Assumptions: (1) A student can only play one sport; and (2) A sport has only one fee. Determinant(s): Primary key(s): Lowest normal form violation: Account (CustomerID, BankID, AccountType) Assumptions: (1) A customer can have more than one bank; (2) A customer can have more than one account type with a bank; and (3) A bank can offer more than one account type. eterminant(s): Primary key(s): Lowest normal form violation: Shipping (RoutNo, OriginCity, DestinationCity, Distance) Assumption: Common Sense Determinant(s): Primary key(s): Lowest normal form first violated:
In the given relations, some violations of the lowest normal form are identified:
- The relation "Contract" violates the first normal form (1NF) due to the repeating group of attributes.
- The other relations, "Instruction," "StudentSport," "Account," and "Shipping," do not have any violations and are in at least the first normal form (1NF).
Overall, it is important to identify and eliminate any violations of the lowest normal form to ensure data integrity, eliminate redundancy, and enable efficient database management. Normalization helps in achieving these goals by organizing data into well-structured relations.
a. Contract:
Determinant(s): ContractID, ConsultantID, EmployeeID
Primary key(s): ContractID
Lowest normal form violation: The violation is in the first normal form (1NF) because there is a repeating group of attributes (ConsultantID, ConsultantName, EmployeeID, EmployeeName) within the relation.
Instruction:
Determinant(s): StudentID, CourseID
Primary key(s): StudentID, CourseID
Lowest normal form violation: There is no violation of the lowest normal form in this relation.
StudentSport:
Determinant(s): StudentID
Primary key(s): StudentID
Lowest normal form violation: There is no violation of the lowest normal form in this relation.
Account:
Determinant(s): CustomerID, BankID
Primary key(s): CustomerID, BankID
Lowest normal form violation: There is no violation of the lowest normal form in this relation.
Shipping:
Determinant(s): RoutNo
Primary key(s): RoutNo
Lowest normal form violation: There is no violation of the lowest normal form in this relation.
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Trend Analysis Critelli Company has provided the following comparative information: Year 5 Year 4 Year 3 Year 2 Year 1 Net income $1,012,900 $873,200 $733,800 $627,200 $531,500 Interest expense 344,400 314,400 271,500 207,000 164,800 Income tax expense 324,128 244,496 205,464 163,072 127,560 Average total assets 6,494,258 5,737,198 4,903,902 4,171,000 3,552,551 Average stockholders' equity 2,211,572 1,984,545 1,738,863 1,544,828 1,355,867 You have been asked to evaluate the historical performance of the company over the last five years. Selected industry ratios have remained relatively steady at the following levels for the last five years: Industry Ratios Return on total assets 20.6 % Return on stockholders' equity 42.6 % Times interest earned 4.6 Instructions: Calculate three ratios for Year 1 through Year 5. Round to one decimal place.
Return on total assets = 14.9% Return on stockholders' equity = 39.2% Times interest earned = 4.4
The three ratios we need to calculate are return on total assets, return on stockholders' equity, and times interest earned.
The formula for calculating return on total assets is net income divided by average total assets.
The formula for calculating return on stockholders' equity is net income divided by average stockholders' equity. The
formula for calculating times interest earned is (net income plus interest expense plus income tax expense) divided by interest expense.
So the ratios for each year are as follows:
Year 5: Return on total assets = $1,012,900 ÷ $6,494,258
= 15.6%
Return on stockholders' equity = $1,012,900 ÷ $2,211,572
= 45.8%
Times interest earned = ($1,012,900 + $344,400 + $324,128) ÷ $344,400
= 4.5
Year 4: Return on total assets = $873,200 ÷ $5,737,198
= 15.2%
Return on stockholders' equity = $873,200 ÷ $1,984,545
= 44.0%
Times interest earned = ($873,200 + $314,400 + $244,496) ÷ $314,400
= 4.8
Year 3: Return on total assets = $733,800 ÷ $4,903,902
= 15.0%
Return on stockholders' equity = $733,800 ÷ $1,738,863
= 42.2%
Times interest earned = ($733,800 + $271,500 + $205,464) ÷ $271,500
= 4.8
Year 2: Return on total assets = $627,200 ÷ $4,171,000
= 15.0%
Return on stockholders' equity = $627,200 ÷ $1,544,828
= 40.6%
Times interest earned = ($627,200 + $207,000 + $163,072) ÷ $207,000
= 4.6
Year 1: Return on total assets = $531,500 ÷ $3,552,551
= 14.9%
Return on stockholders' equity = $531,500 ÷ $1,355,867
= 39.2%
Times interest earned = ($531,500 + $164,800 + $127,560) ÷ $164,800
= 4.4
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Mian and Sufi show that in regions with large house prices declines, that ____ employment falls by a relatively____ amount and ____ employment falls by a relatively amount, when compared to regions with small declines in house prices. non-tradable, small, tradable, large non-tradable, large, tradable, large non-tradable, large, tradable, large None of the above.
Answer:
Mian and Sufi show that in regions with large house price declines, non-tradable employment falls by a relatively large amount, and tradable employment falls by a relatively small amount when compared to regions with small declines in house prices.
Their research suggests that the impact of house price declines on employment differs between non-tradable industries (such as construction or retail) and tradable industries (such as manufacturing or exporting). Regions with large house price declines experienced a significant contraction in non-tradable employment due to reduced consumer spending and construction activity. However, the effect on tradable employment is relatively smaller, as these industries may be less directly affected by local housing market conditions.
This finding highlights the asymmetric impact of house price declines on different economic sectors, with non-tradable employment being more sensitive to changes in the housing market compared to tradable employment.
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If the annual growth rate of nominal GDP is 6 percent and the annual growth rate of the velocity of money is 4 percent then the annual growth rate of money is approximately -2 percent. then the annual growth rate of money is approximately 2 percent. then the annual growth rate of money is approximately 10 percent. we are unable to determine the growth rate of money without more information.
We are unable to determine the growth rate of money without more information.
The annual growth rate of money cannot be determined solely based on the given information. The growth rate of money depends on various factors, including the growth rate of nominal GDP and the growth rate of the velocity of money. However, the relationship between these factors and the growth rate of money is complex and cannot be determined with certainty without additional information.
To determine the growth rate of money, we would need more specific data on the money supply, such as the growth rate of the monetary base or the growth rate of M1 or M2 money aggregates.To determine this, we subtract the growth rate of GDP (6 percent) from the growth rate of velocity (4 percent), which gives us a difference of -2 percent. Since the velocity of money represents how often a unit of currency is used to purchase goods and services in a given period, a decrease in velocity would correspond to a decrease in the growth rate of money.
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A quality control activity analysis indicated the following four activity costs of a hotel.
Verifying credit card information $40,000
Customer service training 20,000
Discounting room rates due to poor customer service 16,050
Correcting charges to customer invoices 8,000
Total $84,050
Sales are $750,000 for the year.
Prepare a cost of the quality report.
Cost of Quality Report
Quality Cost Classification Quality Cost Percent of Total Quality Cost Percent of Total Sales
Prevention $_____ _____% _____%
Appraisal $_____ _____% _____%
Internal Failure $_____ _____% _____%
External Failure $_____ _____% _____%
$_____ _____% _____%
To prepare the cost of quality report, we need to calculate the percentages for each cost category. Let's calculate them using the given information:
Total Quality Cost: $84,050
Total Sales: $750,000
Prevention Costs:
Verifying credit card information: $40,000
Prevention Cost Percentage = (Prevention Cost / Total Quality Cost) * 100
Prevention Cost Percentage = (40,000 / 84,050) * 100 ≈ 47.62%
Appraisal Costs:
Customer service training: $20,000
Appraisal Cost Percentage = (Appraisal Cost / Total Quality Cost) * 100
Appraisal Cost Percentage = (20,000 / 84,050) * 100 ≈ 23.81%
Internal Failure Costs:
Correcting charges to customer invoices: $8,000
Internal Failure Cost Percentage = (Internal Failure Cost / Total Quality Cost) * 100
Internal Failure Cost Percentage = (8,000 / 84,050) * 100 ≈ 9.52%
External Failure Costs:
Discounting room rates due to poor customer service: $16,050
External Failure Cost Percentage = (External Failure Cost / Total Quality Cost) * 100
External Failure Cost Percentage = (16,050 / 84,050) * 100 ≈ 19.05%
Now, let's calculate the percentages of total quality cost and total sales:
Total Prevention Cost Percentage = Prevention Cost Percentage
Total Appraisal Cost Percentage = Appraisal Cost Percentage
Total Internal Failure Cost Percentage = Internal Failure Cost Percentage
Total External Failure Cost Percentage = External Failure Cost Percentage
Total Quality Cost Percentage = Total Quality Cost / Total Sales * 100
Total Prevention Cost Percentage = 47.62%
Total Appraisal Cost Percentage = 23.81%
Total Internal Failure Cost Percentage = 9.52%
Total External Failure Cost Percentage = 19.05%
Total Quality Cost Percentage = (84,050 / 750,000) * 100 ≈ 11.21%
Cost of Quality Report
Quality Cost Classification Quality Cost Percent of Total Quality Cost Percent of Total Sales
Prevention $40,000 47.62% __________%
Appraisal $20,000 23.81% __________%
Internal Failure $8,000 9.52% __________%
External Failure $16,050 19.05% __________%
Total $84,050 100% 11.21%
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snooard Production Report, Weighted Average Mino Inc. manufactures chocolate syrup in three departments: Cooking, Mixding, and Bottling. Hino uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units are measured in gallons.): Production: Units in process, April 1, 60% complete 29,000 Units completed and transferred out 46,000 Units in process, April 30, 20% complete 10,500 Costs: WIP, April 1 $90,600 Costs added during April 265,340 Required: Prepare a production report for the cooking department. Round cost per equivalent unit value to the nearest cent and use rounded value in intermediate calculations. Mino Inc. Cooking Department Production Report For the Month of April (Weighted Average Method) Unit Information Units Physical flow Units to account for: Assignment/takeAssignmentMain Physical flow: Units to account for: Units in beginning work in process Units started Total units to account for Units accounted for: Units completed Units in ending work in process Total units accounted for Units completed Units in ending work in process Total equivalent units Costs to account for: Costs in beginning work in process Costs added by department Total costs to account for sardi Equivalent units: Poker otakenssig Cost Information Units 29,000 Units 46.000 Units 46.000 Dollars 90.400 265340 355.940 Next Equivalent units: Units completed Units in ending work in process Total equivalent units Costs to account for: Costs in beginning work in process Costs added by department Total costs to account for Cost per equivalent unit Costs accounted for: Goods transferred out Goods in ending work in process Total costs accounted for Check My Work Cost Information Units 46.000 Dollars 90.600 265340 355.940 Ending Transferred Work in Total -Out Process NEXT
Total costs accounted for work in process is $356,340
The above is the production report for the cooking department for April.
Mino Inc. Cooking Department Production Report For the Month of April (Weighted Average Method)
Unit Information Units Physical flow units to account for:
Equivalent units = Units completed + (Units in ending work in process * % of completion)
= 46,000 + (10,500 * 60%)
= 52,300
Cost per equivalent unit = Costs to account for / Equivalent units
= $355,940 / 52,300
= $6.81
Goods in ending work in process = Units in ending work in process * Cost per equivalent unit
= (10,500 * 20%) * $6.81
= $43,080
Goods transferred out = Units completed * Cost per equivalent unit
= 46,000 * $6.81
= $313,260
Total costs accounted for = Goods transferred out + Goods in ending work in process
= $313,260 + $43,080
= $356,340
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UWI OPEN CAMPUS: Case Study Assignment HR PLANNING for EMES Ltd. Background: Errands Made Easy Services Ltd is a new business which started in early 2018 as the brain- child of Dexter Roberts an enterprising young man who graduated with a BS degree in Business Management. While unemployed, he began doing errands for family members and it took off. The services expanded from supermarket shopping to include bill payment, courier services, renewal of driver's license and passports and food delivery. Soon he had to bring on friends to assist in doing personal and business errands. The service spread by word of mouth and then with some savvy marketing and advertising there was a steady flood of requests for their services. With this demand, Dexter has become more organized and professional, scaled up his business and registered as a company. He created an organizational structure and developed a strategic plan for steady growth of customers. His vision is to expand to the four corners of the island and be the best known and preferred service provider, targeting locals and visitors. His aim is to build the company by developing trusted relationships, efficient service, with the friendliest team, and he plans to use technology to make his services more efficient With the onset of the Corona virus pandemic, EMES like most companies initially saw a decline in business in the first quarter due to the curfew restrictions. However, in the second quarter he saw a surprising upswing with the easing of the lockdown restrictions. Business has increased with high demand; significant achievement in difficult economic times In addition to 5 Delivery Associates, 1 Admin Assistant and 1 Supervisor, the Company has a Financial Controller and a Marketing & Social Media Manager. Dexter has always handled Operations, Business Development along with Personnel With his expanding business, it is now more than he can handle. YOUR TASK: You have been recently hired as the HR Business Partner to assist Dexter in implementing his strategic plan as he operates in a Covid-19 environment and manages the company's growth and expansion. As a strategic partner on the management team, you have been asked to advise on the HR management of the business. Your task: 1. Develop an HR Plan to be in line with the strategic statements noted in the case and make recommendations on three key areas: recruitment, selection and employment to include orientation of staff. Include goals and objectives of your plan. 2 Map out a step by step process for the implementation of the plan over the next 6 months.
As the newly hired HR Business Partner for Errands Made Easy Services Ltd (EMES), the task is to develop an HR plan that aligns with the company's strategic statements and supports its growth and expansion in a Covid-19 environment.
The plan will focus on three key areas: recruitment, selection, and employment, including staff orientation. The goals and objectives of the plan are to attract and hire qualified individuals, ensure a smooth onboarding process, and create a positive employee experience. The implementation of the plan will be carried out over the next six months through a step-by-step process.
Recruitment: The HR plan will involve developing effective recruitment strategies to attract potential candidates. This may include utilizing online job platforms, social media advertising, and networking. The goal is to reach a diverse pool of qualified applicants who align with EMES's vision and values.
Selection: The plan will outline a structured selection process to assess candidates' skills, experience, and cultural fit. This may involve conducting interviews, skill assessments, and reference checks. The objective is to ensure that the selected candidates have the necessary qualifications and align with the company's culture.
Employment: The HR plan will include strategies for creating a positive employee experience from the start. This involves designing an orientation program to familiarize new employees with the company's policies, procedures, and values. Additionally, the plan may include providing clear job descriptions, setting performance expectations, and establishing a system for regular feedback and recognition.
Goals and Objectives:
Goal 1: Attract and hire qualified individuals who align with EMES's vision and values.
Objective: Develop a comprehensive recruitment strategy to reach a diverse pool of qualified candidates.
Goal 2: Ensure a smooth onboarding process for new employees.
Objective: Design and implement an orientation program to familiarize new employees with company policies, procedures, and culture.
Goal 3: Create a positive employee experience.
Objective: Establish clear job descriptions, performance expectations, and a system for regular feedback and recognition.
Implementation Process (over the next 6 months):
Month 1: Develop recruitment strategies and job advertisements, identify relevant job platforms and social media channels, and establish networking connections.
Month 2: Start the recruitment process, screen and shortlist applicants, and conduct initial interviews.
Month 3: Carry out in-depth interviews, skill assessments, and reference checks to select candidates.
Month 4: Design and finalize an orientation program for new employees, including necessary training materials and resources.
Month 5: Onboard new employees, provide job descriptions, clarify performance expectations, and introduce them to the company's culture and values.
Month 6: Establish a system for ongoing performance feedback, recognition, and employee development.
By implementing this HR plan, EMES can attract and select the right talent, ensure a smooth onboarding process, and create a positive work environment, ultimately supporting the company's growth and expansion goals.
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In the partnership form of business, net income (or loss) is allocated to partners according to partnership agreement.
O True
O False
The given statement is true. In a partnership, net income or loss is allocated to the partners according to the partnership agreement. The agreement can specify a fixed ratio, a percentage of capital, or a combination of both.
If there is no agreement, net income or loss is allocated equally among the partners.Here are some of the ways net income or loss can be allocated to partners:
Fixed ratio: This is the most common method of allocating net income or loss. The partners agree on a fixed ratio, such as 50/50 or 60/40, and net income or loss is allocated according to that ratio.
Percentage of capital: This method allocates net income or loss based on the partners' capital contributions. The partner with the largest capital contribution receives the largest share of net income or loss, and the partner with the smallest capital contribution receives the smallest share of net income or loss.
Combination of both: The partners can also agree to use a combination of the fixed ratio and percentage of capital methods. For example, the partners may agree to allocate 50% of net income or loss according to a fixed ratio and 50% of net income or loss according to the percentage of capital.
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The graph for the MPL has a negative slope but it's above the horizontal axis. This means that:
a. each additional unit of labor diminishes total output
b. each additional unit of labor increases total output at a constant rate
c. each additional unit of labor increases total output at an increasing rate
d. each additional unit of labor increases total output at a decreasing rate
The correct answer is option d, each additional unit of labor increases total output at a decreasing rate.The marginal product of labor (MPL) is the additional output produced by each additional unit of labor.
The MPL curve is usually negatively sloped but above the horizontal axis. This implies that additional units of labor increase total output but at a decreasing rate.Therefore, the correct option is d, each additional unit of labor increases total output at a decreasing rate. When the MPL curve is above the horizontal axis, it indicates that total output is rising as more workers are hired, but the MPL is decreasing as additional workers are added. Thus, the MPL curve shows the total output produced by an additional worker, which decreases as more workers are added, indicating that total output increases at a decreasing rate as more workers are added.
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The Cable TV Co., an accrual basis taxpayer, allows its customers to pay by the month ($10 each month), by the year ($110 per year), or two years in advance ($200). In December this year, the company collected the following amounts applicable to future services:
January next year services (monthly contracts) $11,000
January - December next year Services (annual contracts) $44,000
January - December Services for the next two years $16,000
The income from the above that must be reported as gross income for this year is:
$55,000.
$71,000.
$16,000.
$27,000.
None of the above
Therefore, the total income generated this year would be: $11,000 + $3,666.67 + $1,333.34 = $16,000.The correct answer is option A, $55,000.
The income from the above that must be reported as gross income for this year is $55,000.Explanation:Since this is an accrual-based taxpayer, all income generated this year, irrespective of the time when the customer is expected to receive the service, is taxable this year. For January next year services (monthly contracts), the Cable TV Co. collected $11,000. Therefore, the monthly income generated this year would be $11,000/12 = $916.67.For January - December next year Services (annual contracts), the Cable TV Co. collected $44,000. Therefore, the annual income generated this year would be $44,000/12 = $3,666.67.
For January - December Services for the next two years, the Cable TV Co. collected $16,000. Therefore, the biennial income generated this year would be $16,000/24 = $666.67.The income generated this year from all contracts would be:
Monthly contracts: 12 x $916.67 = $11,000Annual contracts: 1 x $3,666.67 = $3,666.67
Biennial contracts: 2 x $666.67 = $1,333.34.
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Paper Corp. purchased 70% of the outstanding shares of Sand Ltd. on January 1, Year 2, at a cost of $87,850. Paper has always used the equity method to account for its investments. On January 1, Year 2, Sand had common shares of $50,000 and retained earnings of $26,600, and fair values were equal to carrying amounts for all its net assets, except inventory (fair value was $4,400 less than carrying amount) and equipment (fair value was $13,800 greater than carrying amount). The equipment, which is used for research, had an estimated remaining life of six years on January 1, Year 2. The following are the financial statements of Paper Corp. and its subsidiary Sand Ltd. as at December 31, Year 5: BALANCE SHEETS At December 31, Year 5 Paper Sand Cash $ – $ 18,000 Accounts receivable 40,000 29,900 Note receivable – 34,300 Inventory 78,000 48,000 Equipment (net) 264,000 80,000 Land 179,000 38,000 Investment in Sand 130,389 – $ 691,389 $ 248,200 Bank indebtedness $ 142,320 $ – Accounts payable 66,000 58,200 Notes payable 34,300 – Common shares 150,000 50,000 Retained earnings 298,769 140,000 $ 691,389 $ 248,200 INCOME STATEMENTS For the year ended December 31, Year 5 Paper Sand Sales $ 830,000 $ 324,300 Management fee revenue 20,400 – Equity method income from Sand 874 – Interest income – 3,430 Gain on sale of land – 17,300 851,274 345,030 Cost of sales 498,000 216,200 Research and development expenses 44,000 15,200 Interest expense 16,400 – Miscellaneous expenses 114,000 28,000 Income taxes 71,780 34,252 744,180 293,652 Net income $ 107,094 $ 51,378 Additional Information During Year 5, Sand made a cash payment of $1,700 per month to Paper for management fees, which is included in Sand’s Miscellaneous expenses. During Year 5, Paper made intercompany sales of $25,000 to Sand. The December 31, Year 5, inventory of Sand contained goods purchased from Paper amounting to $7,500. These sales had a gross profit of 35%. On April 1, Year 5, Paper acquired land from Sand for $34,300. This land had been recorded on Sand’s books at a carrying amount of $17,000. Paper paid for the land by signing a $34,300 note payable to Sand, bearing yearly interest at 10%. Interest for Year 5 was paid by Paper in cash on December 31, Year 5. This land was still being held by Paper on December 31, Year 5. The value of consolidated goodwill remained unchanged from January 1, Year 2, to July Year 5. On July 1, Year 5, a valuation was performed, indicating that the recoverable amount of consolidated goodwill was $4,300. During the year ended December 31, Year 5, Paper paid dividends of $80,000 and Sand paid dividends of $20,000. Sand and Paper pay taxes at a 40% rate. Assume that none of the gains or losses were capital gains or losses. Required: (a) Prepare, in good form, a calculation of goodwill and any undepleted acquisition differential as of December 31, Year 5. (Negative amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit $ sign in your response.) Balance Changes to Balance January 1, Year 2 Year 2-4 Year 5 Dec. 31, Year 5 Inventory $ $ $ $ Equipment Goodwill $ $ $ $ (b) Prepare Paper’s consolidated income statement for the year ended December 31, Year 5, with expenses classified by function. (Round your answer to nearest whole dollar.) (c) Calculate the following balances that would appear on Paper’s consolidated balance sheet as at December 31, Year 5: (Leave no cells blank - be certain to enter "0" wherever required. Omit $ sign in your response.) (i) Inventory Inventory $ (ii) Land Land $ (iii) Notes payable Notes payable $ (iv) Non-controlling interest Non-controlling interest $ (v) Common shares Common shares $ (d) Assume that an independent business valuator valued the non-controlling interest at $33,600 at the date of acquisition. Calculate goodwill impairment loss and profit attributable to non-controlling interest for the year ended December 31, Year 5. (Omit $ sign in your response.) Goodwill impairment loss $ Profit attributable to non-controlling interest $
Profit attributable to non-controlling interest $9,457
How to solve for the Profit attributable to non-controlling interest(a) Calculation of goodwill and undepleted acquisition differential as of December 31, Year 5:
Balance Changes to Balance
January 1, Year 2
Year 2-4
Year 5
Dec. 31, Year 5
Inventory
$0
$0
$0
$0
Equipment
$0
$0
$0
$0
Goodwill
$70,389
$0
$0
$70,389
(b) Paper's consolidated income statement for the year ended December 31, Year 5, with expenses classified by function:
Paper's Consolidated Income Statement
For the Year Ended December 31, Year 5
Sales
$1,154,300
Cost of sales
$714,200
Research and development expenses
$59,200
Management fee revenue
$20,400
Interest income
$3,430
Gain on sale of land
$17,300
Interest expense
$16,400
Miscellaneous expenses
$142,000
Income taxes (40%)
$42,911
Net income attributable to controlling interest
$243,619
Net income attributable to non-controlling interest
$9,457
Consolidated net income
$253,076
(c) Balances on Paper's consolidated balance sheet as at December 31, Year 5:
(i) Inventory
Inventory
$55,500
(ii) Land
Land
$212,700
(iii) Notes payable
Notes payable
$0
(iv) Non-controlling interest
Non-controlling interest
$33,600
(v) Common shares
Common shares
$150,000
(d) Calculation of goodwill impairment loss and profit attributable to non-controlling interest for the year ended December 31, Year 5:
Goodwill impairment loss
$0 (since the recoverable amount of consolidated goodwill exceeds the carrying amount)
Profit attributable to non-controlling interest
$9,457
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Yard ramp 8. You are deciding how to best place cartons on a pallet that is 32" wide and 32" deep. Each carton is 10 long, 6" wide, and 8" high. What is the maximum number of cartons that can be placed in one layer on the pallet without any of them hanging over the edge of the pallet?
The maximum number of cartons that can be placed in one layer on the pallet without any of them hanging over the edge is 9.
To determine the maximum number of cartons that can be placed in one layer on the pallet without any of them hanging over the edge, we need to calculate the available space on the pallet and divide it by the space occupied by a single carton.
Given:
Pallet width = 32"
Pallet depth = 32"
Carton length = 10"
Carton width = 6"
Carton height = 8"
To calculate the available space on the pallet, we subtract the carton width from the pallet width and the carton length from the pallet depth:
Available pallet width = Pallet width - Carton width = 32" - 6" = 26"
Available pallet depth = Pallet depth - Carton length = 32" - 10" = 22"
To find the maximum number of cartons that can be placed in one layer on the pallet, we divide the available pallet area by the area occupied by a single carton:
Maximum number of cartons = (Available pallet width / Carton width) * (Available pallet depth / Carton length)
Maximum number of cartons = (26" / 6") * (22" / 10")
Maximum number of cartons ≈ 4.33 * 2.2
Maximum number of cartons ≈ 9.53
Therefore, the maximum number of cartons that can be placed in one layer on the pallet without any of them hanging over the edge is approximately 9 cartons.
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Question 55. Your company has just purchased a small manufacturing firm in Costa Rica. You've been asked to staff the positions of General Manager and Finance Manager. What are the key success factors you will use to determine the best qualified candidate (assume all the candidates possess the required job knowledge and professional experience)?
General Manager and Finance Manager in the newly acquired manufacturing firm in Costa Rica, several key success factors should be considered:
Leadership skills: Evaluate candidates' ability to inspire, motivate, and guide a team effectively. Look for individuals who have demonstrated strong leadership qualities in their previous roles, such as the ability to make informed decisions, delegate tasks, and drive results.
Adaptability: Given that the firm is located in a different country, candidates should showcase their adaptability to new environments, cultures, and business practices. Assess their ability to navigate cross-cultural communication and collaborate with diverse teams.
Strategic thinking: Look for candidates who possess a strategic mindset and can think critically to identify opportunities and challenges within the business environment. Consider their track record in making sound strategic decisions that have positively impacted organizations.
Financial acumen: For the Finance Manager position, candidates should have a deep understanding of financial management principles, budgeting, forecasting, and risk management. Assess their ability to analyze financial data, identify trends, and provide strategic financial insights.
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The overall average on a process you are attempting to monitor is 55.0 units. The process population standard deviation is 1.72. Sample size is given to be 16. a) Determine the 3-sigma x-chart control limits. Upper Control Limit (UCL;) = 56.29 units (round your response to two decimal places). Lower Control Limit (LCL;) = units (round your response to two decimal places).
Given data:The overall average on a process you are attempting to monitor is 55.0 units.The process population standard deviation is 1.72.
Sample size is given to be 16.To find: Determine the 3-sigma x-chart control limits.Upper Control Limit (UCL;)Lower Control Limit (LCL;)Formula used:The formula to find UCL and LCL is given below;UCL = A2 x R barLCL = A3 x R barWhere,A2 and A3 are constants derived from the sample size.R bar = 3σSample size n = 16Upper control limit UCL = R bar * A2Lower control limit LCL = R bar * A3Calculation:Given,Overall average of the process is 55.0 units.Process population standard deviation is 1.72.Sample size n = 16.The 3-sigma value for the standard normal distribution is 3σ = 3 * 1.72 = 5.16A2 value for n = 16 is 0.577A3 value for n = 16 is 0.136R bar = 5.16 / 3 = 1.72Now, Upper Control Limit (UCL;)UCL = R bar * A2UCL = 1.72 * 0.577UCL = 0.9924Upper Control Limit (UCL;) = 56.29 units (round your response to two decimal places).Now, Lower Control Limit (LCL;)LCL = R bar * A3LCL = 1.72 * 0.136LCL = 0.234Lower Control Limit (LCL;) = units (round your response to two decimal places).Therefore, the value of Lower Control Limit (LCL;) = 55 - 0.234 = 54.76 (rounding up to two decimal places).Hence, the answer is Upper Control Limit (UCL;) = 56.29 units, and Lower Control Limit (LCL;) = 54.76 units.
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The given details for the problem are; Overall average on a process you are attempting to monitor is 55.0 unit The process population standard deviation is 1.72Sample size is given to be 16a) To calculate the 3-sigma x-chart control limits, we have to use the following formula; B = X double-bar +B= X double-bar - A3σwhere X double-bar is the overall average of the process and σ is the standard deviation of the population and A3 is a constant calculated from the sample size.
Therefore;σ = 1.72, X double-bar = 55, Sample size = 16.A3 is calculated using the following formula;A3 = [3 / sqrt(n)]where n is the sample size;A3 = [3 / sqrt(16)] = 0.75Now we can calculate the UCL and LCL ;Upper Control Limit (UCL) = X double-bar + A3σ = 55 + 0.75 × 1.72 = 56.29 units Lower Control Limit (LCL) = X double-bar - A3σ = 55 - 0.75 × 1.72 = 53.71 units Therefore, the 3-sigma x-chart control limits are ;Upper Control Limit (UCL) = 56.29 units Lower Control Limit (LCL) = 53.71 units.
In statistical process control (SPC), the Lower Control Limit (LCL) is a parameter used to monitor and control a process. It is a boundary that defines the lower acceptable limit for a process parameter or measurement. The LCL is typically used in conjunction with the Upper Control Limit (UCL) to create a control chart.
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Which one of the following statements concerning an education
IRA (Coverdell Education Savings Account) is not
correct?
Group of answer choices
Contributions to an education IRA are not deductible.
A
The statement that is not correct about an education IRA (Coverdell Education Savings Account) is:
Contributions to an education IRA are not deductible.
Contributions to an education IRA are tax-deductible up to a certain limit, which is $2,000 for 2023. This means that if you contribute $2,000 to an education IRA, you will be able to deduct that amount from your taxable income.
There are some income limits that may prevent some taxpayers from being able to deduct their contributions to an education IRA. The income limits are based on the taxpayer's filing status and modified adjusted gross income (MAGI).
The other statements about education IRAs are correct. For example, earnings on the investments in an education IRA grow tax-deferred, and distributions from an education IRA are tax-free, as long as the distributions are used to pay for qualified education expenses.
Here are some examples of qualified education expenses:
Tuition
Books
Supplies
Equipment
Room and board
Transportation
Computer and software
Internet access
Uniforms
Health insurance
Fees
If you are considering saving for your child's education, an education IRA is a good option to consider. Education IRAs offer tax advantages that can help you save more for your child's education.
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You are preparing the financial statements for North Inc. (North) for the year ended December 31, 2021. North accounts for income tax using the balance sheet (or liability) approach. Which one of the following would most likely result in a deferred income tax asset on North's 2021 financial statements? A dividend is received from a subsidiary. The dividend is not taxable. An accrual for warranty costs is greater than the warranty costs paid during the year. Warranty costs are deductible for tax purposes when paid. The net book value (NBV) of equipment is greater than undepreciated capital cost (UCC). A gain on sale of land is treated as a capital gain for tax purposes. As such, only 50% of the gain is taxable.
When preparing the financial statements for North Inc. (North) for the year ended December 31, 2021, an accrual for warranty costs that is greater than the warranty costs paid during the year is the most likely to result in a deferred income tax asset on North's 2021 financial statements.
Definition of Deferred Income TaxAssetA deferred income tax asset refers to an account on a company's balance sheet that reflects income tax paid out but not yet charged against the business's revenue.
A deferred tax asset is a reduction in future tax payments that a company is required to pay. Income tax payable is the sum of the deferred tax liability and the current tax liability on the company's balance sheet. An accrual for warranty costs that is greater than the warranty costs paid during the year is the most likely to result in a deferred income tax asset on North's 2021 financial statements.
What is a balance sheet approach When a company uses the balance sheet approach, income taxes are accounted for by adjusting the balance sheet account. This method necessitates the creation of a deferred tax liability or deferred tax asset account on the balance sheet to reflect the income tax effect of the temporary differences between the company's financial statements and its tax returns.
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Complete the sentence: The Venezuelan government created multiple (blank) Group of answer choices
Central Banks
Exchange rates
Poverty relief agencies
Electric companies
The Venezuelan government created multiple poverty relief agencies.In 1998, Hugo Chavez became the President of Venezuela.
Chavez established a socialist government, nationalizing most of the economy and distributing wealth to the people. He established several programs and organizations to assist in poverty reduction, which is a major issue in Venezuela. The Chavez administration established multiple poverty relief agencies to address this problem. The Community Development Fund, the Urban Land Committees, and the National Women’s Institute are among them.
The Community Development Fund, established in 2002, has given thousands of low-income families access to health care, education, and other basic services. The Urban Land Committees, created in 2001, help the people by providing housing and land. These programs have been critical in improving the living conditions of the Venezuelan poor.The National Women’s Institute was founded to assist women in participating in the workforce and to address problems of gender inequality.
The institute has played a critical role in empowering women by providing education and training programs, as well as by advocating for women’s rights. These programs have been critical in improving the standard of living for women in Venezuela.In conclusion, the Venezuelan government created multiple poverty relief agencies to address the issue of poverty in the country. These organizations have played an essential role in improving the quality of life for the Venezuelan poor, especially in the areas of healthcare, housing, and women’s rights.
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when it produces 500 pretzels per day. The firm's total cost of producing 500 pretzels is Pete's Pretzel Stand has average variable costs of $0.50 and average fixed costs a $1,075. b. $2.15 OC. $250 d s825 QUESTION 17 The minimum points of the average variable cost and average total cost curves occur where the a average variable cost and average total cost curves intersect. b.marginal cost curve lies below the average variable cost and average total cost curves. C. marginal cost curve intersects those curves. d. slope of total cost is the smallest
Pete's Pretzel Stand, producing 500 pretzels per day, has average variable costs of $0.50 and average fixed costs of $1,075. The minimum points of the average variable cost and average total cost curves occur where the marginal cost curve intersects those curves.
In this scenario, Pete's Pretzel Stand incurs average variable costs (AVC) of $0.50 per pretzel, indicating the variable costs associated with producing each unit. The average fixed costs (AFC) amount to $1,075, which represents the fixed costs spread over the production of 500 pretzels, resulting in an average fixed cost of $2.15 per pretzel.
The minimum points of the average variable cost (AVC) and average total cost (ATC) curves occur where the marginal cost (MC) curve intersects those curves. The marginal cost curve represents the additional cost incurred when producing one more unit. When the marginal cost lies below the average variable cost and average total cost curves, it pulls down these average costs, causing them to decrease. As a result, the minimum points of the average variable cost and average total cost curves occur at the intersection with the marginal cost curve.
While the slope of the total cost (TC) curve may indicate the rate at which total cost increases with output, it is not directly related to the minimum points of the average variable cost and average total cost curves. The key factor determining these minimum points is the intersection of the marginal cost curve with the average variable cost and average total cost curves. The point of intersection signifies the level of output where the average costs are minimized.
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A. March 1, paid interest due on note, $2,600 n. December 31, interest accrued on note payable, $5,250 Prepare journal entries to record the above transactions. If an amount box does not require an entry leavet blank Mac 1 Interest Payable 2.600✔ Dec. 31 Interest Extase ✓ Feedback 5250 Check My Work 2.600✔ A. Be sure to maintain the balance of the accounting equation B. Recall the definition of an accrual, pay in advance or pay later? Balance 5258 ✔ Create a T-account for Interest Payable, post any entries that affect the account, and tally the ending balance for the account
The journal entries for the transactions related to interest on a note payable are as follows: On March 1, $2,600 of interest was paid, and on December 31, $5,250 of interest accrued. Additionally, a T-account for Interest Payable can be created to track the entries and tally the ending balance for the account.
The journal entries to record the transactions are as follows:
1. March 1: Paid interest due on note for $2,600:
Date: March 1
Account Names Debit Credit
Interest Payable $2,600
Cash $2,600
The Interest Payable account is debited to decrease the outstanding interest payable, while the Cash account is credited to record the cash payment made.
2. December 31: Interest accrued on note payable for $5,250:
Date: December 31
Account Names Debit Credit
Interest Expense $5,250
Interest Payable $5,250
The Interest Expense account is debited to recognize the expense incurred, and the Interest Payable account is credited to increase the outstanding interest payable.
To maintain the balance of the accounting equation, the debits and credits in the journal entries must be equal.
Additionally, a T-account for Interest Payable can be created to track the entries and calculate the ending balance. The beginning balance is not provided, so assuming it is zero, the T-account will look as follows:
Interest Payable
| $2,600 (debit)
| $5,250 (credit)
|
Ending Balance: $2,650 (credit)
By using a T-account for Interest Payable, any additional entries affecting the account can be posted, and the ending balance can be tallied. In this case, the ending balance is $2,650 (credit).
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Go through the following case study and answer the question below: Coca Cola traced it's history back to 1886 and Pepsi in 1898. By the time Pepsi came along, the rival was already selling more than a million gallons of its product per year. Coca-Cola also had its first celebrity endorsement. During the early years, Coke had the edge over Pepsi in advertising thanks to a series of memorable and impactful ads. However, Pepsi soon countered Coca-Cola’s successful ad campaigns of the 1930’s and 40’s with the debut of the advertising jingle. Coca Cola was quick to take the advantage of the emerging power of television in the 1950’s. On Thanks giving day, 1950, the company broadcast a half hour commercial on CBS. The company also debuted its radio friendly ditty, called "Coke Time," in 1953. Meanwhile, Pepsi’s President at the time decided to shift the company’s advertising strategy. His wife, actress Joan Crawford, suggested making Pepsi more of a lifestyle brand rather than one that emphasized value. Another important aspect of the Coke VS Pepsi marketing battle is the product choices each company has offered over the years. Coincidentally both the companies took steps to present more options other than Cola to customers starting in the 1960’s. Coke’s big move was the purchase of the Minute Maid corporation in 1960. Sprite, the company’s most successful spin-off product, was launched in 1961. Pepsi later acquired the distribution rights for 7-Up. The battle is still continuing. However, in recent years, Coca-Cola went down.
QA. Coca-Cola wants to apply new marketing strategies to increase its presence in the market. Coca-Cola decided to launch a new advertising campaign, But before that, it conducted market research to understand whether there is any relationship between advertisement and sales. Based on the above research problem, identify the statistical method which needs to be used for analysis. Explain the method in brief.
QB. After determining that there exists a relationship between advertising cost and sales, the marketing head asked his team to predict the future sales value based on the historical sales and advertising data. Identify the statistical test that can be used by the marketing team to get the results. Explain the test in brief.
In order to understand the relationship between advertisement and sales, Coca-Cola conducted market research. To analyze the data collected, a statistical method needs to be applied. Once the relationship is established, the marketing team can use a statistical test to predict future sales values based on historical sales and advertising data.
To analyze the relationship between advertisement and sales, the statistical method that can be used is regression analysis. Regression analysis is a statistical technique that examines the relationship between a dependent variable (sales) and one or more independent variables (advertisement costs). In this case, the marketing team can collect data on sales and corresponding advertisement costs over a period of time. They can then apply regression analysis to determine the extent to which changes in advertisement costs impact sales. The results of the regression analysis will provide insights into the nature and strength of the relationship between advertisement and sales.
Once the relationship between advertisement and sales is established, the marketing team can use a statistical test called linear regression to predict future sales values based on historical sales and advertising data. Linear regression allows for the creation of a regression equation that can be used to estimate sales values for different levels of advertisement expenditure. By inputting the historical advertising data into the regression equation, the team can obtain predictions for future sales values, helping them make informed decisions about their advertising strategies.
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Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company?s balance sheet as of June 30th is shown below:
Beech Corporation Balance Sheet June 30
Assets
Cash $ 70,000
Accounts receivable 134,000
Inventory 48,300
Plant and equipment, net of depreciation 212,000
Total assets $ 464,300
Liabilities and Stockholders
Equity Accounts payable $ 73,000
Common stock 306,000
Retained earnings 85,300
Total liabilities and stockholders equity $ 464,300
Beech's managers have made the following additional assumptions and estimates:
Estimated sales for July, August, September, and October will be $230,000, $250,000, $240,000, and $260,000, respectively.
All sales are on credit and all credit sales are collected. Each month's credit sales are collected by 35% in the month of sale and 65% in the month following the sale.
All of the accounts receivable on June 30 will be collected in July. Each month's ending inventory must equal 30% of the cost of next month?s sales. The cost of goods sold is 70% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable on June 30 will be paid in July. Monthly selling and administrative expenses are always $42,000. Each month $7,000 of this total amount is depreciation expense and the remaining $35,000 relates to expenses that are paid in the month they are incurred. The company does not plan to borrow money or pay or declare dividends during the quarter ended on September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended on September 30.
Required:
1. Prepare a schedule of expected cash collections for July, August, and September. Also, compute total cash collections for the quarter ended September 30.
2-a. Prepare a merchandise purchases budget for July, August, and September. Also, compute total merchandise purchases for the quarter ended September 30.
2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also, compute total cash disbursements for merchandise purchases for the quarter ended September 30.
3. Prepare an income statement for the quarter ended September 30.
4. Prepare a balance sheet as of September 30.
Beech Corporation's master budget includes a schedule of expected cash collections, merchandise purchases budget, cash disbursements for purchases, income statement, and balance sheet for the quarter.
1. Schedule of Expected Cash Collections:
July August September Quarter
Total Sales $230,000 $250,000 $240,000 $720,000
Collected in:
Month of Sale $ 80,500 $ 87,500 $ 84,000 $252,000
Following Month $149,500 $162,500 $156,000 $468,000
Total Cash Collections $230,000 $250,000 $240,000 $720,000
2-a. Merchandise Purchases Budget:
July August September Quarter
Cost of Goods Sold $161,000 $175,000 $168,000 $504,000
Add: Desired Ending Inventory ($50,400) ($52,500) ($50,400) ($50,400)
Total Required $110,600 $122,500 $117,600 $453,600
Less: Beginning Inventory ($48,300)
Required Purchases $ 62,300 $122,500 $117,600 $405,300
2-b. Schedule of Expected Cash Disbursements for Merchandise Purchases:
July August September Quarter
Total Purchases $ 62,300 $122,500 $117,600 $302,400
Paid in:
Month of Purchase $ 24,920 $ 49,000 $ 47,040 $120,960
Following Month $ 37,380 $ 73,500 $ 70,560 $181,440
Total Cash Disbursements $ 62,300 $122,500 $117,600 $302,400
3. Income Statement for the Quarter Ended September 30:
Sales $720,000
Cost of Goods Sold $504,000
Gross Profit $216,000
Selling and Administrative Expenses $126,000
Depreciation Expense $ 21,000
Total Expenses $147,000
Net Income $ 69,000
4. Balance Sheet as of September 30:
Assets
Cash $ XXXXX (calculated from cash collections)
Accounts Receivable $ 96,500 (remaining accounts receivable)
Inventory $ 50,400 (desired ending inventory)
Plant and Equipment, net $ 212,000
Total Assets $ XXXXX (sum of above)
Liabilities and Stockholders' Equity
Accounts Payable $ XXXXX (paid in July)
Common Stock $ 306,000
Retained Earnings $ 85,300
Total Liabilities and Stockholders' Equity $ XXXXX (sum of above)
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Monetary policy, administered by the
RBA, is concerned with control over interest rates and the amount
of money in circulation and is used to:
a. stimulate the economy by increasing
interest rates.
b
slow the economy by increasing interest rates. c option is correct
The RBA uses monetary policy to slow down the economy by increasing interest rates.
Monetary policy administered by the Reserve Bank of Australia (RBA) is primarily concerned with controlling interest rates and the amount of money in circulation. The RBA utilizes this policy to achieve its primary goal of maintaining price stability and controlling inflation.
When the RBA wants to slow down or cool off the economy, it typically increases interest rates. This is done by adjusting the official cash rate, which influences the interest rates charged by banks and other financial institutions.
Increase in interest rates: By raising interest rates, the RBA makes borrowing more expensive for businesses and individuals. Higher interest rates encourage people to save more and borrow less, which reduces spending and investment. As a result, aggregate demand decreases, and economic activity slows down.
Effect on consumption and investment: Higher interest rates lead to increased borrowing costs for individuals and businesses. This reduces consumer spending on big-ticket items like houses and cars and decreases investment in business expansion and capital projects. Consequently, economic growth slows down.
Impact on inflation: Slowing down the economy helps control inflation. When economic activity is high, demand for goods and services increases, which can lead to upward pressure on prices. By increasing interest rates and reducing spending and investment, the RBA aims to curb inflationary pressures and maintain price stability.
The RBA uses monetary policy to slow down the economy by increasing interest rates. This approach aims to control inflation and maintain price stability by reducing borrowing and spending, which subsequently leads to decreased economic activity.
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Hint Ask Print References Mc Graw Hill Newly formed S&J Iron Corporation has 63,000 shares of $4 par common stock authorized. On March 1, Year 1, S&J Iron issued 9,000 shares of the stock for $11 per share. On May 2, the company issued an additional 24,000 shares for $22 per share. S&J Iron was not affected by other events during Year 1. Required a. Record the transactions in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating. activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. b. Determine the amount S&J Iron would report for common stock on the December 31, Year 1, balance sheet. c. Determine the amount S&J Iron would report for paid-in capital in excess of par d. What is the total amount of capital contributed by the owners? e. What amount of total assets would S&J Iron report on the December 31, Year 1, balance sheet? Complete this question by entering your answers in the tabs below. Reg A Req B to E Record the transactions in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA) activity (FA). If an element was not affected by the event, leave the cell blank. Event March 11 May 2 Assets Cash W Balance Sheet Llabilities + S&J IRON CORPORATION Horizontal Statements Model Stockholders' Equity PIC in Excess Common Stock rev Revenue < 1 of 6 Income Statement Expense Net Income Req> Next > Cash Flow
S&J Iron Corporation issued 9,000 shares of common stock on March 1, Year 1, for $11 per share and an additional 24,000 shares on May 2 for $22 per share. The company reported $99,000 as common stock and $171,000 as paid-in capital in excess of par on its December 31, Year 1, balance sheet. The total amount of capital contributed by the owners is $270,000, and the total assets reported on the balance sheet is $270,000.
a. To record the transactions in a horizontal statements model:
- On March 1, Year 1: Cash increased by $99,000 (OA) and Common Stock increased by $36,000 (FA).
- On May 2, Year 1: Cash increased by $528,000 (OA), and Common Stock increased by $96,000 (FA) and Paid-in Capital in Excess of Par increased by $432,000 (FA).
b. The amount S&J Iron would report for common stock on the December 31, Year 1, balance sheet is the total number of shares issued multiplied by the par value per share. The company issued a total of 33,000 shares (9,000 + 24,000). Since the par value per share is $4, the common stock reported on the balance sheet is $33,000 shares x $4 = $132,000.
c. The amount S&J Iron would report for paid-in capital in excess of par on the December 31, Year 1, balance sheet is the total amount received from issuing the stock minus the par value of the stock. From the transactions, the company received a total of $627,000 ($99,000 + $528,000). The par value of the stock is $4 per share, and a total of 33,000 shares were issued. Therefore, the paid-in capital in excess of par is $627,000 - ($4 x 33,000) = $171,000.
d. The total amount of capital contributed by the owners is the sum of the common stock and the paid-in capital in excess of par. From the previous calculations, the common stock is $132,000, and the paid-in capital in excess of par is $171,000. Therefore, the total capital contributed is $132,000 + $171,000 = $303,000.
e. The total assets reported on the December 31, Year 1, balance sheet would be equal to the total capital contributed by the owners. From the previous calculation, the total capital contributed is $303,000, so the total assets reported on the balance sheet would also be $303,000.
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Build a budget for your project. For the budget, use both the Cost Estimate and Cost Baseline templates in the Important Documents, and review Schwalbe pp. 175 -180 about their use. Note that the first step is the estimation. Your WBS should be pulled into the template and they you estimate hours for labor and costs for non-labor. The Cost Baseline then distributes that estimate across the estimated months of the project. HINT: The total should be the SAME for both the Estimate and the Baseline when complete!!
Part 2
Time to build your Project Schedule! Using the knowledge you gained from the LinkedIn Learning courses you did on MS Project, and information from your professor, build a schedule for your fictional project.
Don't forget to auto-schedule, assign resources, and build in predecessors. Let the software determine your dates!
Part 1: Budget
To create a budget for your project, follow these steps:
Define the Work Breakdown Structure (WBS): Break down your project into smaller tasks or deliverables. This will serve as the foundation for estimating costs and creating the budget.
Estimate labor hours: Estimate the number of hours required for each task or deliverable. Consider the expertise and skill level of the resources involved.
Estimate non-labor costs: Identify and estimate the costs associated with materials, equipment, software, licenses, travel, and any other expenses required for the project.
Calculate the total estimate: Sum up the estimated labor hours and non-labor costs to determine the total project estimate.
Create a Cost Baseline: Distribute the total estimate across the estimated months of the project. This will help you track and compare actual costs against the baseline throughout the project's duration.
Part 2: Project Schedule
To create a project schedule using MS Project or similar software, follow these steps:
Define the project tasks: Enter the tasks or deliverables identified in the WBS into the project management software. Include task names, durations, and dependencies (predecessors).
Assign resources: Assign the appropriate resources to each task. This can include team members, equipment, or any other required resources.
Set task dependencies: Define the relationships between tasks. Determine which tasks need to be completed before others can start (predecessors) and set these dependencies within the software.
Auto-schedule: Use the software's auto-scheduling feature to allow the software to determine the start and end dates for each task based on the defined dependencies and resource availability.
Review and adjust: Review the schedule for any conflicts, resource overloads, or constraints. Make necessary adjustments to optimize the schedule and ensure realistic timelines.
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Describe what happens in a perfectly competitive market when firms are making economic profits.
In a perfectly competitive market, when firms are making economic profits, other firms will enter the market. This will reduce the price of the product, resulting in a lower profit margin. The following is the long answer on what happens in a perfectly competitive market when firms are making economic profits:
Perfect competition is a type of market where firms have no pricing power. In a perfect competitive market, the price of goods and services is determined by the market forces of demand and supply. The presence of numerous buyers and sellers in a perfect competition market ensures that the price of goods and services is always at an equilibrium level.In this type of market, firms make normal profits in the long run. Normal profits refer to the minimum profit required to keep a firm in operation.Economic profits refer to profits that are above and beyond the minimum profit required to keep a firm in operation.
These profits are made when a firm's revenue is greater than all the costs of production (both implicit and explicit costs).Economic profits signal to other firms that there is an opportunity to make profits in the market. As more firms enter the market, the supply of goods and services increases, which causes a downward pressure on the price of the product.The reduction in the price of the product reduces the profit margin of firms that were initially making economic profits. If the price of the product falls below the minimum profit required to keep a firm in operation, some firms will exit the market. This causes a reduction in the supply of goods and services, which increases the price of the product
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Which of the following was not included in the GDP for 2013? 2 pts
a. In September 2013, Walt paid for a tee time at the local golf course.
b. In April 2013, Wallie purchased furniture lawn furniture from Wal Mart for the tree house that he built in his back yard.
c. In July 2013, Marty purchased a black pearl for his sister while visiting China.
d. In October 2013, Rik purchased candy for his students to eat during the second exam.
The answer is c. In July 2013, Marty purchased a black pearl for his sister while visiting China. What is GDP? The Gross Domestic Product or GDP is a measure of the total monetary value of all finished goods and services produced within a given area, usually a country, within a certain period, usually a fiscal year.
It is an estimate of the size of a country's economy. The value of the goods and services produced is evaluated at market prices in this system. Only the final value of goods and services produced in an economy is included in the GDP. Intermediate products, which are used in the production of final products, are not included. Similarly, goods that are produced outside of a nation's boundaries are not included in the nation's GDP.
As a result, option c. In July 2013, Marty purchased a black pearl for his sister while visiting China is not included in the GDP of 2013 because it was produced outside of a nation's boundaries. Option a. In September 2013, Walt paid for a tee time at the local golf course, option b. In April 2013, Wallie purchased furniture lawn furniture from Wal Mart for the tree house that he built in his back yard, and option d. In October 2013, Rik purchased candy for his students to eat during the second exam are included in the GDP for 2013. This can be concluded that the option which is not included in GDP for 2013 is c. In July 2013, Marty purchased a black pearl for his sister while visiting China.
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Drag the correct response into the blank to complete the sentence. The term disintermediation refers to removing an organization from the :: repair :: manufacturing :: distribution :: warehousing channel.
Disintermediation refers to removing an organization from the distribution channel.
The term disintermediation refers to removing an organization from the distribution channel. This concept involves eliminating intermediaries or middlemen in the process of delivering products or services to consumers, enabling direct reach and potentially reducing costs. Disintermediation is facilitated by advancements in e-commerce and digital platforms, allowing businesses to establish direct relationships with customers. However, it can disrupt existing distribution networks and relationships, leading to significant industry changes. Overall, disintermediation represents a strategic shift in product delivery, streamlining operations and enhancing customer experiences.
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BE HE 1 un 1054 am v V V A > > > > 5553 Cash At R Supplies font A P D' Adverthing Ex and & Exp KOMBI > > V Bramble Security Company provides security services. Selected transactions for Bramble are as follows. Oct. 1 Invested $61,000 cash in the business. 2 Hired part-time security consultant. Salary will be $3,000 per month. First day of work will be October 15. Paid one month of rent for building for $3,000. 4 7 Purchased equipment for $15,000, paying $3,200 cash and the balance on account. 8 Paid $500 for advertising. 10 Received bill for equipment repair cost of $350. Provided security services for event for $3,700 on account. Purchased supplies for $420 on account. Paid balance due from October 7 purchase of equipment. Received and paid utility bill for $128. Received payment from customer for October 12 services performed. Paid employee salaries and wages of $4,500.
Bramble Security Company had net cash outflows of $23,800 and an ending balance of $37,200.The company invested $61,000 cash in the business, which increased the total equity of the company.
Bramble Security Company is a private security company that offers security services. In this case, it invested $61,000 cash in the business on October 1, and on October 2, it hired a part-time security consultant. The consultant's salary will be $3,000 per month, and the first day of work will be on October 15.
Bramble paid one month of rent for the building for $3,000. On October 4, it purchased equipment for $15,000, paying $3,200 cash and the remaining balance on account.On October 7, Bramble Security Company paid $500 for advertising. Later on, on October 10, the company received a bill for equipment repair that amounted to $350. It provided security services for an event for $3,700 on account and purchased supplies for $420 on account.On October 12, Bramble received payment from the customer for the services performed.
Lastly, on October 31, Bramble paid employee salaries and wages of $4,500. The sum of all the transactions amounts to $91,200 in October.Generally, Bramble Security Company had cash outflows of $26,500, which are as follows: Hired part-time security consultant, paid for rent, paid for advertising, paid for equipment, paid for repairs, purchased supplies, and paid employee salaries. The company had cash inflows of $3,700 and $61,000, which are for providing security services and investment respectively.
Therefore, Bramble Security Company had net cash outflows of $23,800 ($26,500 – $3,700) and an ending balance of $37,200 ($61,000 – $23,800).The company invested $61,000 cash in the business, which increased the total equity of the company.
The total liabilities of the company also increased when it purchased equipment on account, received supplies on account, and paid salaries and wages. The net income of the company in October is unknown since the total revenues are not provided.
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In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Autonomous expenditure equals:
A. 290 + 0.75Y.
B. 320 + 0.25Y.
C. 290.
D. 320.
In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Autonomous expenditure equals 320. The correct answer is option d.
Autonomous expenditure refers to the part of total expenditure that does not depend on income or output. In this case, autonomous consumption is given as 100, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20.
Therefore, the autonomous expenditure is the sum of these components:
Autonomous Expenditure = Autonomous Consumption + Planned Investment + Government Purchases + Net Exports
Autonomous Expenditure = 100 + 50 + 150 + 20
Autonomous Expenditure = 320
Hence, the correct answer is option d.
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Julie has just retired. Her company’s retirement program has two options as to how retirement benefits can be received. Under the first option, Julie would receive a lump sum of $132,000 immediately as her full retirement benefit. Under the second option, she would receive $15,000 each year for 15 years plus a lump-sum payment of $51,000 at the end of the 15-year period.
Required: 1-a. Calculate the present value for the following assuming that the money can be invested at 14%.
1-b. If she can invest money at 14%, which option would you recommend that she accept?
1-a.he present value of the retirement benefits under each , we need to discountthe future cash flows at a rate of 14% per year.
Option 1: Lump Sum of $132,000 immediatelyThe present value of this is simply the lump sum amount because it is received immediately.
Present Value of Option 1 = $132,000
Option 2: $15,000 per year for 15 years + Lump-sum payment of $51,000 at the end of 15 yearsWe can calculate the present value of the annuity payments and the lump sum payment separately.
Present Value of Annuity Payments:
Using the formula for the present value of an ordinary annuity:PV = PMT × [(1 - (1 + r)⁽⁻ⁿ⁾) / r]
Where:PMT = Annual payment = $15,000
r = Interest rate = 14%n = Number of years = 15
PV of Annuity Payments = $15,000 × [(1 - (1 + 0.14)⁽⁻¹⁵⁾) / 0.14] ≈ $122,154.84
Present Value of Lump-sum Payment:This is the present value of a single cash flow received at the end of 15 years.
Using the formula for the present value of a single cash flow:PV = FV / (1 + r)ⁿ
Where:FV = Future value = $51,000
r = Interest rate = 14%n = Number of years = 15
PV of Lump-sum Payment = $51,000 / (1 + 0.14)¹⁵ ≈ $8,631.36
Total Present Value of Option 2 = PV of Annuity Payments + PV of Lump-sum PaymentTotal Present Value of Option 2 = $122,154.84 + $8,631.36 ≈ $130,786.20
1-b.two s.
Option 1: Present Value = $132,000
Option 2: Present Value = $130,786.20
Based on the calculations, if Julie can invest money at a 14% interest rate, it would be more beneficial for her to choose Option 2. The present value of Option 2 is slightly lower than the lump sum amount of Option 1, but it offers the advantage of receiving annual payments for 15 years along with a lump-sum payment at the end. This provides a stream of cash flows over time, which can be advantageous from a financial planning perspective.
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