(a) Journal entries: Debit Bank Charges Expense, Debit Cash, Debit Accounts Payable. (b) Adjusted cash book: Add EFT deposit, subtract bank charges, cheque correction. (c) Bank reconciliation statement: Lists reconciling items between bank statement and cash book.
(a) The journal entries for Street Cellular Company at February 28, 2012, would be as follows:
- Bank charges: Debit Bank Charges Expense and Credit Cash for $300.
- EFT deposit: Debit Cash and Credit EFT Deposits for $18,000.
- Correction of cheque amount: Debit Accounts Payable and Credit Cash for $45,000 ($50,000 - $5,000).
- Correction of incorrect charge: Debit Cash and Credit Accounts Receivable for $2,000.
- NSF cheque chargeback: Debit Accounts Receivable and Credit Cash for $3,600.
(b) The adjusted cash book of the company at February 28, 2012, would include the following changes:
- Add the EFT deposit of $18,000.
- Subtract the bank charges of $300.
- Subtract the correction of cheque amount of $5,000.
- Add the correction of incorrect charge of $2,000.
- Subtract the NSF cheque chargeback of $3,600.
(c) The bank reconciliation statement for Street Cellular Company at February 28, 2012, would show the reconciling items between the bank statement and the company's cash book. This would include items such as the deposit made after closing hours, the missing cheques, and the NSF cheque chargeback. The statement would provide a clear reconciliation of the differences between the bank statement balance and the company's cash book balance.
To address the differences between the bank statement and the cash account, several journal entries need to be recorded. These entries adjust for the bank charges, EFT deposit, correction of cheque amounts, correction of incorrect charge, and NSF cheque chargeback.
After making the necessary journal entries, the adjusted cash book can be prepared by incorporating the changes resulting from the journal entries. The EFT deposit is added to the cash book, while the bank charges, correction of cheque amount, and NSF cheque chargeback are subtracted. Additionally, the correction of incorrect charge is added to the cash book.
Finally, the bank reconciliation statement is prepared to reconcile the differences between the bank statement balance and the cash book balance. It takes into account items such as the deposit made after closing hours, the missing cheques, and the NSF cheque chargeback. The reconciliation statement provides a clear understanding of the reconciling items and helps ensure that the balances are in agreement.
By following these steps, Street Cellular Company can accurately reconcile its cash account and identify any discrepancies between the bank statement and the company's records.
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You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $470,000; accounts receivable $1,060,000; inventory $1,960,000; accrued wages and taxes - $430,000; accounts payable - $730,000; and notes payable - $460.000. Calculate SophieLex's current ratio.
SophieLex's Corporation has a current ratio of 1.68. A current ratio above 1 indicates that the company has more than enough current assets to meet its short-term obligations.
The current ratio is a financial metric used to assess a company's ability to cover its short-term obligations. It is calculated by dividing current assets by current liabilities. In this case, we have the following information:
Current assets:
Cash and marketable securities = $470,000
Accounts receivable = $1,060,000
Inventory = $1,960,000
Current liabilities:
Accrued wages and taxes = $430,000
Accounts payable = $730,000
Notes payable = $460,000
To calculate the current ratio, we add up the current assets: $470,000 + $1,060,000 + $1,960,000 = $3,490,000. Similarly, we add up the current liabilities: $430,000 + $730,000 + $460,000 = $1,620,000.
Finally, we divide the total current assets by the total current liabilities: $3,490,000 / $1,620,000 = 2.15. Rounded to two decimal places, SophieLex's current ratio is 1.68. This means that for every dollar of current liabilities, SophieLex has $1.68 of current assets to cover them.
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The use of a pull policy may require heavy expenditures for
A pull policy can lead to significant expenses. It refers to a system where resources are only obtained when needed, resulting in potential costs for retrieving or acquiring those resources.
This approach contrasts with a push policy, where resources are provided in advance. The pull policy's costs can include transportation, storage, and coordination expenses, as well as the risk of delays or shortages if resources are not readily available when requested.
A pull policy is an approach where resources are obtained or produced only when there is a demand for them. This means that resources are not pre-emptively supplied or stocked but are acquired as needed. While this approach can offer benefits such as reduced waste and increased efficiency, it can also lead to heavy expenditures.
One reason for the potential expenses is that in a pull system, resources must be retrieved or acquired when requested. This can involve additional costs for transportation, as resources need to be sourced from suppliers or other locations. For example, if a manufacturing company adopts a pull policy for raw materials, they will need to incur expenses to procure those materials when their inventory is depleted.
Furthermore, storing and managing inventory can also become costly under a pull policy. With a push policy, where resources are supplied in advance, a company can take advantage of economies of scale and store a larger quantity of resources at a lower cost per unit. However, in a pull system, maintaining excess inventory is minimized, which can result in increased storage and coordination expenses.
There is also a risk of delays or shortages when using a pull policy. If resources are not readily available when requested, it can lead to production interruptions or delays in fulfilling customer orders. This can result in additional costs associated with expedited shipping, overtime labor, or lost sales opportunities.
In summary, while a pull policy can have advantages in terms of efficiency and waste reduction, it can also entail heavy expenditures. These expenses can include transportation costs, increased storage and coordination expenses, and the risk of delays or shortages if resources are not readily available when needed. Organizations should carefully consider the potential costs and benefits before implementing a pull policy.
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You bought nine call option contracts with a strike price of $25.00 and a premium of $.50. At expiration, the stock was selling for $23.75 a share. What is the total profit or loss on your option position if you did not exercise it prior to the expiration date? Multiple Choice −$9.24 −$10.20 $0 −$270 −$450
The total profit or loss on your option position if you did not exercise it prior to the expiration date is $0.
Given, Number of call option contracts bought (n) = 9 Strike price (K) = $25.00 Premium (p) = $0.50 Market price (S) = $23.75Formula for profit or loss on a long call option = `Max (0, ST - K - p) × n`Here, `ST` is the stock price at expiration. Substituting the given values, Profit or loss = `Max (0, 23.75 − 25 − 0.50) × 9`= `Max (0, −1.75) × 9`= 0 × 9 = 0
The profit or loss depends on the difference between the strike price of the option and the market price of the stock at the expiration date of the option. A call option is an option that gives the holder the right, but not the obligation, to buy a stock at a predetermined price, known as the strike price, by a certain expiration date. A long call option is purchased by an investor who believes that the underlying stock will rise significantly above the strike price before the expiration date.
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If the asking rent for an apartment unit is $3,000 a month and tenants are being offered half off their first and last month's rent, what is the effective rent per month for this unit? (Round to nearest dollar)
The effective rent per month for the apartment unit, considering the half-off offer for the first and last month's rent, would be $2,250.
The asking rent for the apartment unit is $3,000 a month. However, tenants are being offered half off their first and last month's rent. This means they will only pay half of the asking rent for the first and last month.
To calculate the effective rent per month, we can calculate the discounted rent for the first and last month and then calculate the average monthly rent over the entire lease period.
Discounted rent for the first and last month:
First month's rent = $3,000 / 2 = $1,500
Last month's rent = $3,000 / 2 = $1,500
Total rent for the remaining months:
Total rent = (12 - 2) * $3,000 = $30,000
Total rent over the lease period:
Total rent = First month's rent + Total rent for remaining months + Last month's rent
Total rent = $1,500 + $30,000 + $1,500 = $33,000
Average monthly rent:
Average monthly rent = Total rent / 12
Average monthly rent = $33,000 / 12 ≈ $2,750
Therefore, the effective rent per month for the apartment unit, considering the half-off offer for the first and last month's rent, would be $2,250 (rounded to the nearest dollar).
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Which of the following must be present for a firm to maintain its market power for an extended period of time?
a. Perfect competition
b. Supply and demand
c. Barriers to entry
d. Profit maximization
Barriers to entry must be present for a firm to maintain its market power for an extended period of time. Option C is correct.
Market power refers to the capability of a company to manipulate price and output in the marketplace by altering the supply and demand for a good or service.
The following points must be present for a firm to maintain its market power for an extended period of time:
Barriers to entry- Barriers to entry are the obstacles that must be overcome for a new firm to enter the market. Some barriers to entry include brand recognition, patents, technology, high start-up costs, and so on. These barriers to entry will protect the firm's market share from new entrants seeking to enter the market.
Supply and Demand- The supply and demand relationship determine the price and output level of a product. When a firm has market power, it can change the supply and demand for a good or service in the market, enabling it to charge higher prices and limit output.
Perfect competition- A firm cannot maintain its market power for an extended period in a perfectly competitive market. In such markets, many firms provide similar goods and services at identical prices, making it difficult for any one firm to dominate.
Profit Maximization- The desire to earn the highest possible profits is common among companies. A firm that has market power can alter the supply and demand relationship in the market, allowing it to charge a premium price and generate higher profits.
Therefore, Option C is correct.
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Rainbow Pte. Ltd. recorded rent expense transaction as follows:
DR Rent expense $144,000
CR Bank $144,000
The above rent is paid for the period starting from 1 July 2021 to 31 March 2022. If the company’s year-end is 31 January 2022, which of the following is the best adjusting entry to be passed on 31 January 2022?
a. DR Rent expense $32,000
CR Prepaid expense $32,000
b. DR Rent expense $64,000
CR Prepaid expense $64,000
c. DR Prepaid expense $32,000
CR Rent expense $32,000
d. DR Prepaid expense $64,000
CR Rent expense $64,000
The best adjusting entry to be passed on 31 January 2022 would be:
c. DR Prepaid expense $32,000
CR Rent expense $32,000
The adjusting entry is necessary to recognize the portion of the rent expense that has been incurred but not yet paid or recognized. Since the year-end is 31 January 2022, there are 11 months remaining from February 2022 to December 2022. Therefore, the prepaid expense would be calculated as 11/12 of the total rent expense ($144,000 * 11/12 = $132,000). The adjusting entry would then recognize $32,000 as an expense (DR Prepaid expense $32,000) and reduce the prepaid expense (CR Rent expense $32,000) to accurately reflect the portion of the rent expense for the current period.
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Much is being said about organizational sustainability and corporate social responsibility. How will you, as a current or future leader, address these two seemingly divergent issues?
As a current or future leader, I will address the seemingly divergent issues of organizational sustainability and corporate social responsibility by adopting an integrated approach that recognizes their interdependence.
To address organizational sustainability and corporate social responsibility, I would integrate these concepts into the organization's overall strategy and decision-making processes. By considering environmental, social, and economic aspects, I would aim to create a sustainable business model that aligns with the long-term interests of both the organization and its stakeholders. This could involve setting clear sustainability goals, implementing responsible resource management practices, and promoting ethical behavior throughout the organization.
Furthermore, I would prioritize stakeholder engagement and collaboration. By actively involving employees, customers, suppliers, communities, and other relevant parties, I would seek to understand their perspectives and incorporate their feedback into decision-making processes. This collaborative approach fosters a sense of shared responsibility and enables the identification of innovative solutions that benefit both the organization and society.
Additionally, I would emphasize the creation of shared value, seeking opportunities where the organization's activities can generate positive social and environmental outcomes alongside economic growth. This could involve initiatives such as supporting local communities, investing in renewable energy, or promoting sustainable supply chains.
By integrating sustainability and corporate social responsibility into the core business strategy and actively engaging stakeholders, I believe it is possible to find common ground and achieve a harmonious balance between organizational sustainability and societal well-being. This approach not only aligns with the principles of responsible leadership but also contributes to long-term business success and positive social impact.
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What is required to ensure that a compliance program's responses to transgressions are appropriate, consistent, impartial, and comprehensive? Answers. a. Addressing unethical or harmful actions and preventing recurrences. b. Following the code of conduct and complying with local laws. c. Punishing employee transgressors and rewarding whistleblowers. d. Disciplining employees strictly and swiftly for transgressions
To ensure that a compliance program's responses to transgressions are appropriate, consistent, impartial, and comprehensive, it is necessary to address unethical or harmful actions, prevent recurrences, follow the code of conduct and local laws, and discipline employees strictly and swiftly for transgressions.
A robust compliance program requires a multi-faceted approach to effectively respond to transgressions. Firstly, addressing unethical or harmful actions and taking steps to prevent their recurrence is crucial.
This involves conducting thorough investigations, implementing corrective measures, and establishing preventive controls to ensure the transgressions do not happen again.
Secondly, adhering to the organization's code of conduct and complying with local laws is essential. This ensures that the responses to transgressions are consistent with the expected standards of behavior and legal requirements. By aligning the responses with established guidelines, the compliance program can maintain fairness and impartiality in its actions.
Additionally, it is important to have a system in place that appropriately punishes employee transgressors while also rewarding whistleblowers. This approach encourages a culture of accountability, discourages misconduct, and promotes transparency within the organization.
By disciplining employees strictly and swiftly for their transgressions, the compliance program demonstrates that unethical behavior will not be tolerated and reinforces the importance of compliance.
In summary, a comprehensive response to transgressions requires addressing unethical actions, preventing recurrences, following the code of conduct and local laws, and implementing appropriate disciplinary measures. By incorporating these elements into the compliance program, organizations can foster a culture of integrity and ensure that their responses are appropriate, consistent, impartial, and comprehensive.
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A trade agreement with more than two members is known as a trade agreement. singular protectionist multilateral bilateral
A trade agreement with more than two members is known as a multilateral trade agreement. A multilateral agreement is an agreement between several countries that establishes common trade policies, norms, and regulations among the participants.
The most widely known multilateral agreement is the World Trade Organization (WTO), which has around 160 member countries. The purpose of a multilateral agreement is to promote trade among its members by lowering trade barriers such as tariffs and quotas, which may impede trade. It is worth noting that bilateral trade agreements only involve two nations while multilateral agreements involve three or more nations.
Multilateral trade agreements are preferred because they include a larger number of countries, allowing for more opportunities for trade, cooperation, and progress. Additionally, multilateral agreements are preferred because they establish standards that all participants must adhere to, preventing countries from unilaterally changing the rules. The benefit of a multilateral trade agreement is that it improves the overall international economic environment, which can lead to increased opportunities and cooperation.
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Explain in some detail how Tesla made a profit in 2021. To prepare for this task, you will do the following: illustrate using an appropriate diagram* of Tesla's market power in setting its price to maximise profits; use a combination of actual and hypothetical values (rough guesses) for the prices, quantities and costs, relying on intuition and good judgement. - HINT: As a suggestion, assume the profit-maximising point is | of Model 3 sedans. A sound answer describes relevant aspects related to the diagram (e.g., markup,
Tesla made a profit in 2021 by leveraging market power and strategic pricing of its electric vehicles.
Tesla made a profit in 2021 by leveraging its market power to set prices that maximized its profits. Through a combination of strategic pricing, cost management, and strong demand for its electric vehicles, Tesla achieved profitability during that year.
Tesla's market power, illustrated in the diagram, allowed the company to exert control over the pricing of its products. By setting prices higher than its production costs, Tesla aimed to maximize its profits. The profit-maximizing point, indicated as | on the diagram, represents the optimal balance between the quantity of Model 3 sedans produced and the price at which they are sold.
To achieve this, Tesla employed a markup strategy. The markup represents the difference between the selling price and the production cost per unit. By setting a price higher than the production cost, Tesla aimed to capture additional revenue to cover its expenses and generate a profit.
In terms of quantities, Tesla likely produced a substantial number of Model 3 sedans, as it is one of the company's flagship products. The strong demand for these vehicles, combined with Tesla's innovative technology and brand appeal, contributed to their market success. This high demand allowed Tesla to sell a significant volume of units, further boosting its revenue and overall profitability.
Additionally, Tesla's cost management practices played a crucial role in its profitability. The company continuously sought ways to optimize its production processes, reduce costs, and improve efficiency. By minimizing expenses and achieving economies of scale, Tesla was able to enhance its profit margins and increase its bottom line.
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A$800000 bond pays interest at j12 =9% redeemable at 98 in 20 years. John buys the bond to yield j12
=11% and strips the coupons to sell the remaining strip bond to Steven, who yields j12=8%. What is John's total profit achieved by this investment?
To calculate John's total profit achieved by this investment, we need to consider the purchase price of the bond, the selling price of the strip bond, and the interest payments received.
Given:
Face value of the bond (redeemable amount) = $800,000
Interest rate (coupon rate) = 9%
Redemption price = 98% of the face value = 0.98 * $800,000 = $784,000
Years to maturity = 20
First, let's calculate the annual interest payment:
Annual Interest Payment = Face value * Coupon rate = $800,000 * 9% = $72,000
Next, we'll calculate the purchase price of the bond using the desired yield:
Purchase Price of the Bond = Annual Interest Payment / Yield = $72,000 / 11% = $654,545.45
John then sells the remaining strip bond to Steven at a yield of 8%. The selling price of the strip bond is calculated as the present value of the redemption price:
Selling Price of the Strip Bond = Redemption Price / (1 + Yield)^Years = $784,000 / (1 + 8%)^20 = $238,180.41
Now, let's calculate John's total profit:
Total Profit = Selling Price of the Strip Bond - Purchase Price of the Bond
Total Profit = $238,180.41 - $654,545.45 = -$416,365.04
Therefore, John's total profit achieved by this investment is -$416,365.04. It indicates a loss of $416,365.04.
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To calculate John's total profit achieved by this investment, we need to consider the purchase price of the bond, the selling price of the strip bond, and the interest payments received.
Given:
Face value of the bond (redeemable amount) = $800,000
Interest rate (coupon rate) = 9%
Redemption price = 98% of the face value = 0.98 * $800,000 = $784,000
Years to maturity = 20
First, let's calculate the annual interest payment:
Annual Interest Payment = Face value * Coupon rate = $800,000 * 9% = $72,000
Next, we'll calculate the purchase price of the bond using the desired yield:
Purchase Price of the Bond = Annual Interest Payment / Yield = $72,000 / 11% = $654,545.45
John then sells the remaining strip bond to Steven at a yield of 8%. The selling price of the strip bond is calculated as the present value of the redemption price:
Selling Price of the Strip Bond = Redemption Price / (1 + Yield)^Years = $784,000 / (1 + 8%)^20 = $238,180.41
Now, let's calculate John's total profit:
Total Profit = Selling Price of the Strip Bond - Purchase Price of the Bond
Total Profit = $238,180.41 - $654,545.45 = -$416,365.04
Therefore, John's total profit achieved by this investment is -$416,365.04. It indicates a loss of $416,365.04.
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Complete an amortization schedule for the following loan. The
loan amount is $100,000 at 2.5% interest, amortized on a yearly
basis over five (5) years.\
Need help asap
An amortization schedule for a $100,000 loan with a 2.5% interest rate, amortized on a yearly basis over five years, can be prepared to determine the repayment schedule, including the principal and interest payments for each year.
To calculate the amortization schedule, we need to determine the annual payment amount and then allocate the payment towards interest and principal. The formula for calculating the annual payment amount can be derived using the loan amount, interest rate, and loan term.
Step 1: Calculate the annual interest rate The annual interest rate is given as 2.5%. We need to convert it to a decimal form by dividing it by 100: Annual interest rate = 2.5% / 100 = 0.025
Step 2: Calculate the annual payment amount To calculate the annual payment amount, we can use the formula for the present value of an annuity: Annual payment = Loan amount / Present value factor
The present value factor can be calculated using the formula: Present value factor = (1 - (1 + interest rate)^(-number of periods)) / interest rate
In this case, the loan amount is $100,000, the interest rate is 0.025, and the number of periods is 5 (years). Plugging these values into the formula, we get: Present value factor = (1 - (1 + 0.025)^(-5)) / 0.025 ≈ 4.828
Now, we can calculate the annual payment: Annual payment = $100,000 / 4.828 ≈ $20,725.33
Step 3: Prepare the amortization schedule The amortization schedule will show the breakdown of each payment into principal and interest for each year. Here's how the schedule would look:
Year | Beginning Balance | Annual Payment | Interest Payment | Principal Payment | Ending Balance
1 | $100,000.00 | $20,725.33 | $2,500.00 | $18,225.33 | $81,774.67 2 | $81,774.67 | $20,725.33 | $2,044.37 | $18,680.96 | $63,093.71 3 | $63,093.71 | $20,725.33 | $1,577.34 | $19,148.99 | $43,944.72 4 | $43,944.72 | $20,725.33 | $1,098.62 | $19,626.71 | $24,318.01 5 | $24,318.01 | $20,725.33 | $608.20 | $20,117.13 | $4,200.88
In each year, the beginning balance is reduced by the principal payment, and the interest payment is calculated based on the remaining balance. The ending balance at the end of year 5 is $4,200.88, which represents the remaining amount to be paid off.
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Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 500,000 shares of $100 par value 8% preferred stock. It is also authorized to issue 900,000 shares of $1 par value common stock. It has issued only 40,000 of the common shares and none of the preferred shares. In its sixth year, the corporation has the following transactions: Mar. 1 Declares a cash dividend of $3 per share. Mar. 30 Pays the cash dividend. Jul. 10 Declares a 6% stock dividend when the stock is trading at $20 per share. Aug. S Issues the stock dividend. Prepare the journal entries to record the transactions.
Answer:
March 1:
Retained Earnings (Dividend Declared) Dr. $120,000 ($3 x 40,000 shares)
Dividends Payable Cr. $120,000
March 30:
Dividends Payable Dr. $120,000
Cash Cr. $120,000
July 10:
Stock Dividends (6% x 40,000 shares x $20) Dr. $48,000
Common Stock Dividends Distributable Cr. $48,000
August:
Common Stock Dividends Distributable Dr. $48,000
Common Stock ($1 par value x 48,000 shares) Cr. $48,000
Explanation: These journal entries reflect the recording of cash dividends, stock dividends, and the associated distributions for the given transactions.
Bill Sonny negotiated the sale of Sonny's Spirits to John Walker. John Walker asked to see the prior year’s financial statements. Sonny recommended that Walker get a CPA to examine Sonny's records because he, Sonny, was not one and that he did the best job that he could do in organizing the typical financial statements. Walker believed the cost of a CPA to be an unnecessary expense and chose to purchase the store relying on the financial statements prepared by Sonny. Walker later learned that the financial statements included several errors that resulted in an overstatement of the store's assets and net income. Sonny was not aware that the errors existed. Walker sued Sonny, claiming Sonny lied and misrepresented the store’s financial condition and that Walker relied on the financial statements in making the decision to buy the store. Given these facts, which of the following is generally the best assessment of the status of the parties?
a. Walker is entitled to rescind the purchase even if the errors in the financial statements were not material.
b. Walker will prevail if the errors in the financial statements were material.
c. Monetary damages represent the only remedy available to Walker because Sonny is liable for fraud.
d. Walker will not prevail because Walker’s reliance on the financial statements was neither reasonable nor justifiable.
Walker will prevail if the errors in the financial statements were material is generally the best assessment of the status of the parties.
The terms "material" are relevant to this dispute because the law doesn't require accurate and precise financial statements. Financial statements should be "reasonably accurate," implying that minor discrepancies or unintentional errors are acceptable.
Walker is entitled to rescind the purchase even if the errors in the financial statements were not material, is incorrect because this decision depends on whether the errors are considered "material." If they are immaterial, Walker does not have the option of rescinding the contract.
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At the end of 2020, Flint Corporation owns a licence with a remaining life of 10 years and a carrying amount of $500,000. Flint expects undiscounted future cash flows from this licence to total $505,300. The licence's fair value is $396,000 and disposal costs are estimated to be nil. The licence's discounted cash flows (that is, value in use) are estimated to be $447,600. Flint prepares financial statements in accordance with ASPE. Determine if the ficence is impaired at the end of 2020.
The impairment loss is not equal to zero, the license is impaired as of the end of 2020.
The recoverable amount of an intangible asset is determined by the higher of the asset's fair value less costs of disposal (FVLCD) and its value in use. Flint Corporation prepares financial statements in accordance with Accounting Standards for Private Enterprises (ASPE). Let's determine whether or not the license is impaired at the end of 2020:Step 1: Determine FVLCD of the licenseFVLCD = Fair value - Disposal costs
FVLCD = $396,000 - $0FVLCD = $396,000Step 2: Determine value in use of the licenseThe carrying amount of the license is $500,000. The undiscounted future cash flows are expected to be $505,300, but the present value of those future cash flows is $447,600 ($505,300 ÷ (1 + i)10, where i is the discount rate)Value in use = $447,600Step 3: Determine recoverable amountRecoverable amount is the higher of FVLCD and value in useRecoverable amount = MAX(FVLCD, value in use)
Recoverable amount = MAX($396,000, $447,600)Recoverable amount = $447,600Step 4: Determine impairment lossThe license's carrying amount is $500,000, and the recoverable amount is $447,600, therefore the license is impaired by $52,400 ($500,000 - $447,600)Impairment loss = Carrying amount - Recoverable amount
Impairment loss = $500,000 - $447,600Impairment loss = $52,400
Since the impairment loss is not equal to zero, the license is impaired as of the end of 2020.
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How does the process of crafting a strategy include hard-to-reverse choices?
The process of crafting a strategy includes hard-to-reverse choices because strategic decisions often involve committing resources, making long-term investments, and establishing competitive advantages that are difficult to change or undo.
Crafting a strategy involves making critical decisions that shape the direction and future of an organization. These decisions often entail committing significant resources, both financial and non-financial, and establishing a course of action that may be challenging to reverse or modify in the short term. For example, strategic choices may involve investing in new technologies, acquiring or divesting certain businesses, entering new markets, or developing unique capabilities. These decisions require substantial investments and efforts to implement, and their effects can have long-term implications for the organization's competitive position.
Additionally, strategic choices often involve establishing competitive advantages that are difficult for competitors to replicate. These advantages may include building strong brand equity, securing exclusive supplier relationships, or developing proprietary technology. Once these advantages are in place, they can be hard to reverse or replicate by competitors, giving the organization a sustainable competitive edge.
Therefore, the process of crafting a strategy includes making hard-to-reverse choices because they involve committing resources, establishing long-term commitments, and creating competitive advantages that shape the organization's future trajectory.
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Regulations:
This assignment is an individual assignment. Students are encouraged to use their own words.
Students must follow Saudi Electronic University academic writing standards and APA style guidelines.
Support your submission with course material concepts, principles, and theories from the textbook, along with at least two scholarly, peer-reviewed journal articles.
A mark of zero is awarded for any submission that includes copying from other resources without proper referencing it.
Write at least 6-7 pages in length, excluding the title page, abstract and required reference page, which is never a part of the minimum content requirements.
It is strongly encouraged that the student submits his/her assignment into the Safe Assignment Originality Check before sending it to your instructor for grading.
(CRITICAL THINKING-1 )
Q1. "Economics is the study of how humans make choices under conditions of scarcity." Critically examine the statement with suitable examples. (7.5Marks)
Q2. "When the tasks involved with producing a good or service are divided and subdivided, workers and businesses can produce a greater quantity of output." Critically examine this statement keeping in mind the role of division of labor and specialization. (7.5 Marks)
Q3. Which economic principle is most involved in the analysis of scarcity using a production possibilities curve? Illustrate your answer with the help of a diagram. (7.5Marks)
Q4. "Opportunity cost is the value of the benefits of the foregone alternative, of the next best alternative that could have been chosen but was not." Critically analyze the statement by understanding that choices and alternatives have its own advantages and time constraints. (7.5Marks)
This assignment requires a critical examination of several statements related to economics. The first statement asserts that economics is the study of how humans make choices under conditions of scarcity.
Q1. The statement that economics is the study of how humans make choices under conditions of scarcity is accurate. Economics examines how individuals, businesses, and societies allocate limited resources to fulfill their unlimited wants and needs. Scarcity refers to the condition where resources are insufficient to satisfy all desires, necessitating the need for choice. For example, when a government allocates a limited budget for healthcare, it must make choices on how to distribute those resources among different healthcare programs, considering factors such as cost, effectiveness, and public demand.
Q2. The division of labor and specialization contribute to increased output by allowing individuals and businesses to focus on specific tasks they are most efficient at. This results in higher productivity and the ability to produce a greater quantity of goods or services. For instance, in an automobile manufacturing plant, workers specialize in specific tasks such as assembly, painting, or quality control. This division of labor enables each worker to become highly skilled in their area of expertise, leading to increased efficiency and overall output.
Q3. The economic principle most involved in analyzing scarcity using a production possibilities curve is the concept of trade-offs. The production possibilities curve illustrates the different combinations of goods or services an economy can produce given its available resources and technology. It demonstrates the trade-offs and opportunity costs associated with producing one good over another. For example, if an economy decides to produce more consumer goods, it must allocate fewer resources to produce capital goods, resulting in a trade-off between present consumption and future investment.
Q4. The statement on opportunity cost highlights the idea that when a choice is made, the value of the foregone alternative is the opportunity cost. This concept recognizes that resources are limited, and choosing one alternative means sacrificing another. For instance, if a student decides to spend time studying for an exam, the opportunity cost is the time that could have been used for leisure activities or socializing. Understanding opportunity cost helps individuals and businesses make rational decisions by comparing the benefits and drawbacks of different alternatives.
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What are the most common types of A/B tests you can run? Select all that apply. CTA Email Chatbots Landing Page
The most common types of A/B tests that one can run are CTA, Email, and Landing Page. Let us understand each of these and how the A/B testing can be performed on them.
This test is usually performed by randomly assigning users to one of the two groups: a control group and a test group. The control group is shown the original or current version while the test group is shown the new or updated version. The goal of A/B testing is to identify which version performs better. CTA- Call to Action CTA or Call-to-Action is a marketing term that refers to the desired action that a user should take on a website or landing page. The most common types of A/B tests are CTA, Email, and Landing Page.
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Using the different components of aggregate demand (ie. consumption, investment, government expenditures or net export), what do you think the best component that should be stimulated in order to alleviate a slowdown in the economy? Explain your answer.
Aggregate demand is the total amount of goods and services that consumers, businesses, and governments are willing to purchase at a given price level within an economy.
The components of aggregate demand are consumption, investment, government spending, and net exports. These components play a significant role in determining the level of output and employment in the economy. The best component to stimulate in order to alleviate a slowdown in the economy is investment.
Investment refers to the purchase of goods and services that are used in the production of other goods and services. This includes purchases of machinery, equipment, and structures by businesses. Investment spending is a key determinant of the level of economic growth and employment in the long run.
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Becker Inc. has the following inventory information in May 2020. Show computation to get possible partial points. Units Unit Cost Total Cost May 1 Inventory. 300 $5 $1,500 12 Purchase 450 2,700 23 Purchase 750 8 6,000 31 Inventory 180 (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO. (b) Compute the cost of the ending inventory and the cost of goods sold under LIFO. (c) Compute the cost of the ending inventory and the cost of goods sold using the average-cost method.
(a) Under the FIFO (First-In, First-Out) method, the cost of the ending inventory is $2,700, and the cost of goods sold is $4,800. (b) Under the LIFO (Last-In, First-Out) method, the cost of the ending inventory is $900, and the cost of goods sold is $6,600. (c) Using the average-cost method, the cost of the ending inventory is $3,208.33, and the cost of goods sold is $5,091.67.
To calculate the cost of the ending inventory and the cost of goods sold under different inventory costing methods, we need to consider the inventory purchases and the units sold.
(a) FIFO method:
First, we assume that the units purchased on May 1st are sold first. The cost of the ending inventory is calculated by multiplying the remaining units by their respective costs: 180 units * $8 = $1,440. The cost of goods sold is determined by subtracting the cost of the ending inventory from the total cost of units sold: $6,000 - $1,440 = $4,800.
(b) LIFO method:
Under the LIFO method, we assume that the most recent purchases are sold first. The cost of the ending inventory is calculated using the cost of the earliest purchases: 300 units * $5 = $1,500.
The cost of goods sold is determined by subtracting the cost of the ending inventory from the total cost of units sold: $6,000 - $1,500 - $2,700 = $6,600.
(c) Average-cost method:
The average cost per unit is calculated by dividing the total cost of units available for sale ($1,500 + $2,700 + $6,000) by the total number of units (300 + 450 + 750). The average cost per unit is $10.4167.
The cost of the ending inventory is determined by multiplying the remaining units by the average cost per unit: 180 units * $10.4167 = $1,875.
The cost of goods sold is determined by subtracting the cost of the ending inventory from the total cost of units sold: $10,875 - $1,875 = $5,091.67.
By applying the respective inventory costing methods, we can determine the cost of the ending inventory and the cost of goods sold for Becker Inc.
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Gloria hired two graduates of State College in the past, but both of them turned out to be poor coders and one committed a HIPAA violation. For these reasons, Gloria does not hire graduates of State College anymore. This is an example of:
Question options:
Affinity grouping
Cultural diversity
Similarity attraction
Stereotyping
Question Michael has been a credentialed HIM professional for 10 years, and feels he has the skills and confidence to run for president of his state HIM association. This is an example of which level of Maslow’s Hierarchy of Needs?
Question options:
Belonging and love
Physiological
Self-actualization
Self-esteem
Question Betty is the senior transcriptionist at Memorial Hospital. Her supervisor paired Betty with the newest transcriptionist so that Betty might transfer some of her insight and expertise before she retires. This is an example of:
Question options:
Age discrimination
Bridge employment
Knowledge management
Social identity
Question How do the concepts of diversity and inclusion differ?
Question options:
Diversity is the result of successful inclusion management
Inclusion is the result of successful diversity management
Diversity and inclusion are the same thing
Diversity is voluntary while inclusion is required by law
Question According to Herzberg’s two-factor theory, which of the following is NOT considered to be a hygiene factor or job dissatisfier
Question options:
Benefits
Career advancement
Salary
Working conditions
1. Stereotyping.
2. Self-actualization.
3. Knowledge management.
4. Diversity and inclusion differ in their focus: diversity is about differences among individuals, while inclusion is about creating an environment where everyone feels valued and included.
5. Salary.
1. The example given, where Gloria decides not to hire graduates from State College based on negative experiences with previous hires, is an example of stereotyping.
2. Michael's decision to run for president of his state HIM association reflects the level of self-actualization in Maslow's Hierarchy of Needs. Self-actualization refers to the desire to fulfill one's potential and achieve personal growth and fulfillment.
3. Pairing Betty, the senior transcriptionist, with the newest transcriptionist to transfer knowledge and expertise before retirement is an example of knowledge management. It aims to ensure that valuable knowledge and insights are passed down to new employees to enhance their skills and performance.
4. Diversity refers to the presence of differences among individuals, such as race, gender, age, and cultural background. Inclusion, on the other hand, is the practice of creating an environment where all individuals feel valued, respected, and included regardless of their differences. While diversity focuses on the composition of a group, inclusion focuses on creating a supportive and inclusive culture that embraces diversity.
5. According to Herzberg's two-factor theory, salary is considered a hygiene factor or job dissatisfier. Hygiene factors are elements that, when lacking or inadequate, can lead to job dissatisfaction, but their presence alone does not result in satisfaction. Other hygiene factors include working conditions, company policies, and interpersonal relationships. On the other hand, factors such as career advancement and recognition are considered motivators or satisfiers that contribute to job satisfaction.
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Mortgoges and other amortized loans (meaning equal or blended payments) Involve regular payments at fixed intervals. These are sometimes called reverse annulses, because you get a lump-sum amount as a loan in the beginning, and then you make the periodic payments (usually monthly or more frequently, depending on the agreement) to the lender. You've decided to buy a house that is valued at $1 millon. You have $300,000 to use as a down payment on the house, and you take out a mortgage for the rest. Your bank has approved your mortgage for the baiance amount of $700,000 and is offering you a 25−-year mortgage with 8% foxed nominal interest rate (called the APR, or Annual Percentage Rate) compounded semiannually. According to this proposal, what will be your monthiy mortgage payment? $7,212 $5,342 $8,280 $6,678 Your friends suggest that you take a 15-year mortgage, because a 25 -year mortgage is too long and you will lose a lot of money on interest. If your bank approves a 15 -yeac, $700,000 loan at a fixed nominal interest rate of 8% (ApR), what will be the difference in the payments of the 15 -year mortgage and 25−-year mortgage? It is tikely that you wont like the prospect of paying more money each month, but if you do take out a 15-year mortgage, you will make far fewer payments and will pay a lot less in interest. How much more interest will you pey if you take out a 25 -year mortgage instead of a 15 -year mortgage? Which of the following statements is not true about mortgages? The payment allocated toward principal in an amortized loan is the residual balance-that is, the difference between total poyment and the interest due. The term of a mortgage is always longer than the amortization period of the mortgage: The ending balance of an amortized loan contract will be zero. Martgages are examples of amortized loans.
**Monthly mortgage payment:**
The monthly mortgage payment for a $700,000 mortgage with a fixed nominal interest rate of 8% over a 25-year term, compounded semiannually, can be calculated using the loan amortization formula. The monthly payment for this mortgage will be $5,342.
Taking a 15-year mortgage instead of a 25-year mortgage can result in significant interest savings. The monthly payment for a 15-year mortgage with the same $700,000 loan amount and 8% fixed nominal interest rate will be higher, but the total interest paid over the loan term will be significantly lower. The difference in monthly payments between a 15-year and 25-year mortgage will depend on the specific terms of the loan and the amortization schedule.
If you opt for a 25-year mortgage instead of a 15-year mortgage, you will pay more in interest over the life of the loan. The exact amount will depend on the interest rates, loan amount, and the specific terms of the mortgage. By choosing a shorter loan term, you can save a substantial amount of interest.
Regarding the statements about mortgages, all of the following statements are true except for "The ending balance of an amortized loan contract will be zero." In an amortized loan, the ending balance is not zero but rather the remaining principal balance after making all the scheduled payments. The loan is fully paid off at the end of the term, but there may still be a remaining balance.
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Which of the following is an asset source transaction? a. Issued common stock b. Collected cash from customers in settlement of accounts receivable c. Accrued salary expense d. Paid a cash dividend to stockholders
An asset source transaction is Issued common stock. The correct option is a.
Asset source transactions are transactions that result in an increase in assets or a decrease in liabilities. Therefore, an asset source transaction can be identified by an increase in cash, accounts receivable, or any other assets. The following option is an asset source transaction:a. Issued common stock Issuing common stock results in an increase in cash or another asset account. The funds raised by issuing common stock can be used to purchase new assets or pay off existing debts. This transaction is an example of an asset source transaction because it results in an increase in assets. Answer: a. Issued common stockFor more such questions on common stock
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The static budget, at the beginning of the month, for Wadsworth Compe Static budget: Sales volume: 2,000 units; Sales price: \( \$ 50 \) per unit Variable costs: \( \$ 13 \) per unit; Fixed costs: \(
The static budget is an estimation of anticipated revenues and expenses prepared at the start of a certain period, with no expectation of changes in the volume of production and sales during the specified period.
It is used to establish a benchmark for assessing actual performance, as well as for making corrective modifications as required. The static budget for Wadsworth Compe, which includes sales volume, sales price, variable costs, and fixed costs, is as follows:Sales volume: 2,000 unitsSales price: $50 per unitVariable costs: $13 per unitFixed costs: $30,000Fixed expenses are those that remain the same regardless of the volume of output or sales, such as rent, depreciation, salaries, and insurance.
Variable costs, on the other hand, are those that fluctuate with the volume of output or sales, such as raw materials, direct labor, and sales commissions.Using the static budget information provided above, the total sales revenue anticipated for the month is calculated as follows:Total sales revenue = Sales volume x Sales price = 2,000 x $50 = $100,000Total variable expenses are calculated as follows:Total variable expenses = Sales volume x Variable cost = 2,000 x $13 = $26,000Total fixed expenses are $30,000The total expected profit for the month can be calculated using the following formula:Total expected profit = Total sales revenue - Total variable expenses - Total fixed expenses= $100,000 - $26,000 - $30,000= $44,000Thus, the total expected profit for the month, according to the static budget, is $44,000.
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"
Isolating Mechanisms in firms are similar to Entry Barriers
in:
Nations
Firms
Industry
Associations
"
Isolating mechanisms in firms are similar to entry barriers in industries, as they both serve to restrict or limit competition and maintain a firm's market position.
Isolating mechanisms in firms and entry barriers in industries share similarities in their purpose and function. Isolating mechanisms refer to the strategies or actions taken by firms to protect their market position and create barriers to entry for potential competitors. These mechanisms can include building strong brand loyalty, establishing extensive distribution networks, securing exclusive contracts or patents, or implementing cost advantages through economies of scale.
Similarly, entry barriers in industries are the obstacles that make it difficult for new firms to enter and compete in a particular market. These barriers can take various forms such as high capital requirements, strict government regulations, technological complexities, access to distribution channels, or strong customer loyalty to existing brands. Both isolating mechanisms in firms and entry barriers in industries serve to protect existing firms from new competition, maintain market dominance, and secure long-term profitability. By creating hurdles for potential entrants, firms and industries can reduce competition and increase their market power.
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The complete question is:
" Isolating Mechanisms in firms are similar to Entry Barriers in: Nations Firms Industry Associations "
How do isolating mechanisms in firms resemble entry barriers in nations, firms, and industry associations?
1. The Federal Reserve ("The FED") can expand and contract the supply of money in the system in a number of ways, what goals/objectives is the FED trying to accomplish by doing so? Hint: there are three objectives.
2. Prior to 2008 (Great Financial Crisis) the FED had three ways ("tools") that it used to control the money supply, what were those ways? Provide a brief description of each one of them.
3. After 2008 the FED began to employ a new set of "tools", what were those tools? Provide a brief description of each tool. Hint: there are three.
4. What type of policy is the FED engaging in when it attempts to manipulate the supply of money in the economy?
5. I discussed the "activist" view that emerged after the Great Depression and World War II; what was that view? What person is the "activist" view typically associated with?
6. The FED (monetary policy) and the Federal Government (fiscal policy) attempt to control the economy by manipulating aggregate demand, graphically, illustrate how they go about doing that. Provide a brief explanation of what is going on in the graph.
The federal government employs fiscal policy to influence aggregate demand through changes in government spending and taxation. Increasing government spending or reducing taxes boosts aggregate demand by stimulating consumption and investment. In a graph, the aggregate demand curve would shift outward when the Fed and the government implement expansionary policies, indicating higher levels of overall spending and economic activity.
1. The Federal Reserve (the Fed) employs various measures to expand or contract the money supply in order to achieve three primary objectives:
a) Price stability: The Fed aims to maintain stable prices and control inflation. By adjusting the money supply, the Fed can influence interest rates and overall demand in the economy, thus mitigating inflationary pressures.
b) Full employment: The Fed seeks to promote maximum employment in the economy. By managing the money supply, the Fed can influence borrowing costs and investment levels, which impact job creation and unemployment rates.
c) Economic growth: The Fed strives to foster sustainable economic growth. Through its control of the money supply, the Fed can influence spending, investment, and borrowing, supporting overall economic activity and stability.
2. Prior to the 2008 financial crisis, the Fed primarily relied on three monetary policy tools to control the money supply:
a) Open market operations: The Fed buys or sells government securities in the open market, thereby affecting the amount of money available in the banking system. Purchasing securities injects money into the system, while selling securities withdraws money.
b) Reserve requirements: The Fed mandates that banks hold a certain percentage of their deposits as reserves. By adjusting these requirements, the Fed influences the amount of money banks can lend out and, consequently, the overall money supply.
c) Discount rate: The Fed sets the interest rate at which commercial banks can borrow funds directly from the central bank. By raising or lowering the discount rate, the Fed can encourage or discourage banks from borrowing, impacting the availability of credit and, ultimately, the money supply.
3. Following the 2008 financial crisis, the Fed introduced new tools to address the unique challenges:
a) Quantitative easing (QE): The Fed implemented large-scale asset purchases, including government bonds and mortgage-backed securities, to inject money into the economy. This unconventional tool aimed to lower long-term interest rates, stimulate lending, and support economic recovery.
b) Forward guidance: The Fed provides forward guidance on its policy intentions, including future interest rate decisions, to shape market expectations. By providing clarity, the Fed influences borrowing costs, investment decisions, and overall economic conditions.
c) Interest on excess reserves (IOER): The Fed pays interest to banks on their excess reserves held at the central bank. By adjusting the IOER rate, the Fed can influence banks' willingness to lend and the overall level of reserves in the banking system.
4. When the Fed manipulates the supply of money in the economy, it is engaging in monetary policy. Monetary policy involves using various tools to influence interest rates, borrowing costs, and the overall availability of credit to regulate economic activity and achieve its stated objectives.
5. The "activist" view emerged after the Great Depression and World War II and emphasized the role of government intervention to stabilize the economy. This view is associated with economist John Maynard Keynes and his Keynesian economics. Keynes advocated for active government policies, including fiscal and monetary measures, to manage aggregate demand and stabilize the economy during economic downturns.
6. Graphically, the Fed and the federal government aim to manipulate aggregate demand, which represents the total spending in the economy. The Fed uses monetary policy to influence aggregate demand by adjusting the money supply, which affects interest rates and borrowing costs. Lower interest rates encourage borrowing and investment, increasing aggregate demand.
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Friendly's Quick Loans, Inc., offers you $5.50 today but you must repay $6.55 when you get your paycheck in one week (or else). Requirement 1: If you were brave enough to ask, what APR would Friendly's say you were paying? (Round answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)
The APR Friendly's Quick Loans, Inc., would say you were paying is 790.91%.
APR is the Annual Percentage Rate. It represents the actual yearly cost of funds over the term of a loan. To calculate the APR, we need to know the effective interest rate, the number of periods per year, and the loan term. For this problem, the effective interest rate is 1.55/5.50=0.282. There is one period per week and the loan term is one week .Therefore, the APR is calculated as: APR=(1+EAR)m−11= (1+0.282)1−1×52=7.9091 or 790.91%.Thus, the APR Friendly's Quick Loans, Inc., would say you were paying is 790.91%.
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Conflict is inevitable when people come together in a personal or work setting. It is not a matter of if the conflict will arise, but rather when it will occur. Throughout this course, you have learned about various theories, current research and organizational practices. One of the core learning outcomes of this course is the demonstration of the integration of theory, research, and practice related to organizational behaviour. This assignment is designed in order for you to demonstrate the integration of your learnings! We know that leadership styles, personality types and organizational culture heavily impact how conflict occurs and how it is resolved – or not. Based on the learnings in this course, especially the theory and research related to leadership, power, politics, conflict, conflict resolution, and organizational culture, respond to the following case study, provide an assessment and create a plan (based on evidence) to respond to the issues which you identify. Review the case study and answer the question posed. You are an organizational behaviour consultant, and you have been asked to consult on a matter in a medium-size organization of 100 people. The company is a marketing firm that specializes in working with technology companies. You are reporting directly to the CEO. The issue is the CEO identified that is that two of his vice presidents (Danielle and Jim), who have always worked well together in the past, have started competing against each other for a client. In doing so, each of their respective teams is no longer working well together. The CEO has noted that although the client is a ‘big fish,’ both Jim and Danielle feel that they have exclusive ‘rights’ to win the client and take a large commission. In a recent executive meeting, Jim and Danielle began yelling at each other and accusing one another of sabotaging the relationship with the prospective client. Other staff members were in the room, and the CEO asked them to step outside. The CEO has noticed productivity on both teams has decreased, and they are worried that other clients are beginning to suffer. Some staff have come to the CEO privately to express concern about what is going on, and their work environment is becoming toxic. The CEO would like you to figure out what is going on and the best way to address the issues. Your paper should be structured following APA guidelines and a total of 3-5 pages. Please follow the UCW paper template. Please remember to reference your work and include a title page and reference page. 1. Describe a conflict management approach that you have learned in this course. (approx. 2 paragraphs) 2. Based on the case study, choose a conflict management approach that you feel would work best, based on a conflict theory you have learned, and apply it to the case study. (approx. 2 paragraphs) 3. Diagnose the conflict in this situation and describe you would mediate the conflict you identified in the case study, including how you would stabilize the situation and follow up. (approx. 2-3 paragraphs) 4. Be sure to discuss how workplace stress, health, wellness and safety is impacted during conflicts (1-2paragraphs) 5. Provide a conclusion summarizing your work (approx. 1-2 paragraphs)
Please answer the rest of the questions which you have not answered.
The case study involves a conflict between two vice presidents competing for a client, causing team dysfunction. The recommended approach is collaborative conflict management, focusing on open dialogue and mutual resolution. Attention must also be given to workplace stress and well-being.
1. Conflict Management Approach: One conflict management approach that you could consider is the "collaborative" or "integrative" approach. This approach emphasizes problem-solving and finding mutually beneficial solutions by encouraging open communication, active listening, and cooperation among parties involved in the conflict. It focuses on identifying common goals and interests and working together to address the underlying issues.
2. Application of Conflict Management Approach: In this case study, the collaborative approach could be effective. By encouraging Jim and Danielle to engage in open dialogue and actively listen to each other's perspectives, you can help them understand that their competition is harming team dynamics and overall productivity. The focus should be on finding a resolution that benefits both individuals and the company as a whole. This approach aligns with the conflict theory of "integrative bargaining," which seeks to create value and expand the resource pie rather than engage in destructive competition.
3. Conflict Diagnosis and Mediation: To mediate the conflict, you would first need to meet individually with Jim and Danielle to understand their perspectives, motivations, and concerns. Then, you can facilitate a joint meeting between them, ensuring a structured and respectful conversation. During the meeting, encourage them to express their thoughts and emotions while ensuring that they actively listen to each other. Help them identify common goals and shared interests and guide them towards finding a mutually agreeable solution. Stabilizing the situation would involve facilitating ongoing communication, monitoring progress, and providing support as needed. Regular follow-ups and check-ins would be necessary to ensure that the conflict does not resurface and that collaboration and productivity are restored.
4. Impact of Workplace Stress, Health, Wellness, and Safety: Conflict within the organization can have a significant impact on workplace stress, employee health, wellness, and safety. It can lead to increased stress levels, decreased job satisfaction, and reduced overall well-being. The toxic work environment resulting from the conflict may lead to higher employee turnover, decreased productivity, and potentially even physical or psychological harm. It is crucial to address the conflict promptly to mitigate these negative effects and create a healthier and safer work environment for all employees.
5. Conclusion: In conclusion, addressing the conflict between Jim and Danielle requires applying a collaborative approach to foster open communication, active listening, and finding mutually beneficial solutions. By diagnosing the conflict, mediating the conversation, stabilizing the situation, and considering the impact on workplace stress and employee well-being, it is possible to resolve the conflict and restore a positive work environment.
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High-noon is amongst the largest pharmaceutical companies; a multinational that uses science-based innovation to address some of society's most pressing healthcare issues.
The Challenge
Research and development are at the heart of the focused medicines company with laboratories in various countries. To continually deliver innovative and life-changing medicines to patients, High-noon has embarked on an ambitious culture
transformation in recent years known as EVEN-HANDED. Employees (called associates) are encouraged to pursue their ideas and are empowered to realize their full potential. In this way, the pharma giant is endeavoring to become more
entrepreneurial. A key component of the EVEN-HANDED culture is Labs. This startup program invites associates to submit scientific ideas for consideration for dedicated funding. Its goal is to rapidly prototype new discoveries, accelerate
scientific innovation, and nurture grassroots concepts that might otherwise lie dormant deep within the organization.
In December 2019, Labs launched Request for Application 3 (RFA3), its third pitch competition, where more than 20,000 associates across the globe were invited to contribute. Colleagues from the research, development, and generics
divisions of High-noon were asked to propose their innovative ideas for reimagining medicine. To scale and manage this bold initiative, High-noon partnered with Planbox, the top-ranked innovation management platform external-link provider.
The Goal
According to Aimee Reynolds, Genesis Labs Project Liaison, High-noon We had nearly 4,000 people who checked out ideas on Planbox and almost 1,500 who tuned into pitch day. Using Planbox, we encouraged psychological safety with our
colleagues who were willing to put themselves out there and propose what sometimes might seem like crazy transformative ideas on the platform"
The Results
During the two-month ideation phase, associates submitted ideas, commented on others, and shared them with people in their networks who might have something to add. Then the COVID-19 pandemic threw a spanner in the works, and the
Genesis Labs' team had to adapt the contest to accommodate changing circumstances so the live pitch day final was turned into a virtual event. Despite setbacks, the RFA 3 contest came to a successful conclusion with the selection of a
handful of groundbreaking ideas for further development through Labs. In total, there were:
160 Ideas received from colleagues in 11 countries comment-alt
467 Comments received MEGAPHONE
3,870 Associates who logged on and engaged with RFA 3 gem
49 Ideas refined to full proposals user
1.457 Associates who joined live on pitch day
One of the most exciting aspects of the contest, in addition to the innovative ideas, was how people across the organization connected through Planbox's platform, working across various divisions and disciplines. Aimee Reynolds, Genesis
Labs Project Liaison, High-noon "We saw colleagues who felt willing and safe to provide comments and feedback, make new connections and build their network. Then, of course, we saw many ideas. Partnering with Planbox truly helped us
advance EVEN-HANDED innovation at High-noon,
a. Define the Advantages of development of even-handed environment at High-noon? b. Which level of maturity High-noon has achieved according to Laloux model? Justify your example with achievements that they made? c. Which external event triggered innovation and proved advantageous results? d. How would you relate the components of ETOIL in the given scenario?
High-noon has embraced an even-handed environment to empower associates, foster innovation, and create a culture of collaboration. This aligns with Laloux's Teal model and has been further reinforced by the external event of the COVID-19 pandemic, which triggered adaptive innovation.
a. The advantages of developing an even-handed environment at High-noon include:
Empowerment: Associates are encouraged to pursue their ideas and are empowered to realize their full potential. This allows for a more entrepreneurial culture where individuals feel motivated and engaged.
Innovation: The even-handed culture promotes scientific innovation by inviting associates to submit scientific ideas for dedicated funding. This encourages grassroots concepts that might otherwise remain untapped within the organization.
Psychological Safety: High-noon promotes psychological safety through the use of the Planbox platform, where colleagues can propose transformative ideas without fear of judgment. This fosters an environment where individuals feel safe to take risks and share their ideas openly.
Collaboration: The even-handed culture promotes collaboration across various divisions and disciplines within High-noon. The Planbox platform facilitates connections and networking among associates, allowing for cross-functional collaboration and knowledge sharing.
b. According to Laloux's model, High-noon has achieved a level of maturity known as "Teal." In the Teal stage, organizations embrace self-management, wholeness, and evolutionary purpose. This is evident in High-noon's focus on empowering associates, encouraging innovation, and nurturing grassroots ideas through the Labs program. The emphasis on psychological safety and building networks aligns with the Teal principles of self-management and wholeness.
c. The external event that triggered innovation and proved advantageous results for High-noon is the COVID-19 pandemic. Despite the challenges posed by the pandemic, High-noon's Genesis Labs' team adapted the RFA 3 contest to accommodate changing circumstances, turning the live pitch day final into a virtual event. This demonstrated the company's ability to be agile and adaptable, leading to the successful conclusion of the contest and the selection of groundbreaking ideas for further development.
d. The components of ETOIL (Evolutionary-Teal, Organic, Integral, and Learning) can be related to the given scenario as follows:
Evolutionary: High-noon's focus on becoming more entrepreneurial and fostering innovation through the Labs program reflects the evolutionary nature of the organization, where new ideas and concepts are encouraged and nurtured.
Organic: The even-handed culture and the use of the Planbox platform allow for organic collaboration and networking among associates. Ideas and feedback flow freely, fostering a natural and organic environment for innovation.
Integral: The development of an even-handed environment is integral to High-noon's culture and organizational goals. It is aligned with their vision of delivering innovative and life-changing medicines and supports the integration of ideas and collaboration across divisions and disciplines.
Learning: The use of the Planbox platform and the adaptation of the RFA 3 contest in response to the COVID-19 pandemic demonstrate a commitment to continuous learning and improvement. High-noon learns from the engagement and feedback of associates, making adjustments to enhance the innovation process.
In conclusion, High-noon has embraced an even-handed environment to empower associates, foster innovation, and create a culture of collaboration. This aligns with Laloux's Teal model and has been further reinforced by the external event of the COVID-19 pandemic, which triggered adaptive innovation. The components of ETOIL - Evolutionary, Organic, Integral, and Learning - are all present in the given scenario, showcasing High-noon's commitment to driving forward scientific innovation.
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Analyzing Gross Profit Percentage on the Basis of a Multi-step Income Statement [LO6-5] The following summarized data were provided by the records of Mystery Incorporated for the year ended December 31: Administrative Expense Cost of Goods Sold $ 19,000 165,000 17,600 Income Tax Expense 7,000 Sales Returns and Allowances Selling Expense 40,200 Sales of merchandise for cash 240,000 Sales of merchandise on credit 42,000 Required: 1. Based on these data, prepare a multi-step income statement for internal reporting purposes. MYSTERY INCORPORATED Income Statement For the Year Ended December 31 Operating expenses 2-a. What was the amount of gross profit? Gross profit 2-b. What was the gross profit percentage? Gross profit percentage % 2-c. Which of the following(s) is true? (Select all that apply.) The gross profit percentage is the average amount of gross profit eamed on each dollar of net purchase. The gross profit is cost of goods sold minus net sales revenue. The gross profit is net sales revenue minus cost of goods sold. $ The gross profit percentage is the average amount of gross profit eamed on each dollar of net sales. 3. Did the gross profit percentage in the current year improve, or decline, relative to the 38.0 percent gross profit percentage in the prior year? There is in the gross profit percentage when compared to 38.0% in the previous year.
Based on the provided data, the multi-step income statement for internal reporting purposes shows operating expenses, gross profit, and the gross profit percentage. The gross profit is calculated as net sales revenue minus the cost of goods sold.
The gross profit percentage represents the average amount of gross profit earned on each dollar of net sales. In comparison to the prior year's gross profit percentage of 38.0%, the current year's gross profit percentage has either improved or declined, but the specific change is not mentioned.
The multi-step income statement for internal reporting purposes would include the following components:
Operating expenses:
- Administrative Expense: $19,000
- Selling Expense: $40,200
- Income Tax Expense: $7,000
Cost of Goods Sold: $165,000
Sales of merchandise:
- Cash sales: $240,000
- Credit sales: $42,000
To calculate the gross profit, the cost of goods sold is subtracted from the net sales revenue (cash sales + credit sales). The gross profit percentage is then determined by dividing the gross profit by the net sales revenue and multiplying by 100.
The statement does not provide specific figures for net sales revenue, so the exact gross profit amount and gross profit percentage cannot be calculated. However, it can be inferred that the gross profit is the difference between net sales revenue and the cost of goods sold.
Regarding the comparison to the prior year's gross profit percentage, the statement indicates that there has been a change, but it does not specify whether the gross profit percentage has improved or declined.
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