Sunland Ltd. conducted several share transactions during its first year of operations. Let's journalize these transactions to provide a clear record of the company's share issuances and reacquisitions.
On January 6, Sunland Ltd. issued 176,000 common shares at a price of $1.50 per share. This resulted in a total cash inflow of $264,000 (176,000 shares × $1.50 per share). The entry for this transaction would be to debit Cash for $264,000 and credit Common Share Capital for the same amount.
On January 12, the company issued 44,000 common shares at a price of $1.75 per share. This generated $77,000 in cash (44,000 shares × $1.75 per share). The journal entry would be to debit Cash for $77,000 and credit Common Share Capital for the same amount.
Moving forward to March 17, Sunland Ltd. issued 900 preferred shares for $105 per share. The total cash received from this issuance would be $94,500 (900 shares × $105 per share). The journal entry would include a debit to Cash for $94,500 and a credit to Preferred Share Capital for the same amount.
On July 18, the company reacquired 176,000 common shares at a price of $1.95 per share. This resulted in a cash outflow of $343,200 (176,000 shares × $1.95 per share). The journal entry for this transaction would be to debit Common Share Capital for $343,200 and credit Cash for the same amount.
On November 17, Sunland Ltd. reacquired 132,000 common shares at a price of $1.80 per share. This led to a cash outflow of $237,600 (132,000 shares × $1.80 per share). The journal entry would include a debit to Common Share Capital for $237,600 and a credit to Cash for the same amount.
Finally, on December 30, the company issued 880,000 common shares at a price of $2 per share. This resulted in a cash inflow of $1,760,000 (880,000 shares × $2 per share). The journal entry for this transaction would be to debit Cash for $1,760,000 and credit Common Share Capital for the same amount.
In conclusion, Sunland Ltd. had various share transactions during its first year of operations. The company issued common and preferred shares at different prices, and it also reacquired some of its common shares. By journalizing these transactions accurately, the company can maintain a comprehensive record of its share capital activities.
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Refer to Husted (2003) and reflect on what is meant by the concepts of centrality and specificity? Reflect on one key difference between CSR governance (as defined by Husted, 2003) and corporate governance (as defined by Chandler, 2020). Reflect on whether corporate philanthropy should be considered part of CSR?
Husted (2003) discusses centrality and specificity in his definition of Corporate Social Responsibility (CSR) governance. Centrality refers to the fact that CSR must be an essential component of a company's overall strategy and decision-making. CSR should not be seen as a side project, but rather as a critical part of the company's operations. Specificity refers to the fact that CSR efforts should be tailored to the specific context in which a company operates.
One key difference between CSR governance and corporate governance (as defined by Chandler, 2020) is that CSR governance is concerned with a company's social and environmental impacts, while corporate governance is concerned with the company's financial performance. Corporate governance refers to the set of processes, principles, and values that a company uses to govern its operations and ensure accountability to stakeholders, while CSR governance is focused on the company's role in society.
Corporate philanthropy should be considered part of CSR because it is a way for companies to give back to the community and support social causes. However, CSR goes beyond philanthropy and includes a company's broader social and environmental impacts, such as its impact on climate change, labor practices, and supply chain management. Therefore, while corporate philanthropy is an important part of CSR, it is only one aspect of a broader set of social and environmental responsibilities that companies must address.
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Transcribed image text: Question 6 (10 marks) Explain the concept of the pure play approach to assigning a required return to a project, illustrate the steps with an example (8 marks). Give one disadvantage of the pure play approach (2 marks).
The Pure Play approach to assigning a required return to a project is the process of determining the rate of return required by investors in a standalone business that has similar risks to the investment project.
The Disadvantage of the Pure Play approach is that it assumes the selected independent firms have similar risks to the proposed project and are not affected by any risks that might affect the proposed project but not the independent firms.
This is achieved by comparing the risks of the proposed investment to those of other independent companies in the same industry, rather than to the company's general cost of capital. Steps of the Pure Play approach to assigning a required return to a project1. Identify several independent firms that specialize in similar business activities to the proposed investment project.2. Determine the average beta of the independent firms identified in step 1.3. Adjust the average beta based on the risk characteristics of the proposed investment project.4. Determine the required return on the adjusted beta using the CAPM (Capital Asset Pricing Model) equation as follows:R = Rf + β × (Rm − Rf)Where:Rf = Risk-free rateRm = Expected market rate of returnβ = Beta of the project R = Required return for example, consider a company planning to invest in a new wind farm project. The project has a beta of 1.5 and the risk-free rate is 4%. The average beta of similar independent wind farm companies is 1.3, and the expected market rate of return is 9%. The required return of the project would be calculated as follows:R = 4% + 1.5 × (9% - 4%)R = 4% + 1.5 × 5%R = 11.5%Disadvantage of the pure play approach isb the approach is only as good as the quality of the independent firms selected for comparison.
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A procesetorship has a calendar fiscal year and acquires a machine on April 1, 2020 The machine has a cost of $58,000. The proprietor pays a contractor $24,000 to install the machine and pays a non-refundable provincial sales tax of $7,500 The machinery is Class 8 equipment with a CCA rate of 20% Assuming that the opening UCC for Class 8 assets is 50, what is the maximum CCA that can be deducted for this machine in fiscal year 2020? Choose the correct answer OA $24,600 OB $8,050 OC. $17,000 D. $26.850
The maximum CCA that can be deducted for this machine in fiscal year 2020 is Option D. $26,850.
CCA stands for Capital Cost Allowance which is a term used for Canadian tax law. It is a yearly tax deduction that is claimable for the loss in value of an asset (usually tangible) over its useful life. The CRA has an established list of asset classes which sets out the various useful lives of assets.
The CCA deduction is the lower of the cost of the asset or the maximum deduction allowable under the CCA class to which the asset belongs.In the given question:
A processorship has a calendar fiscal year and acquires a machine on April 1, 2020. The machine has a cost of $58,000. The proprietor pays a contractor $24,000 to install the machine and pays a non-refundable provincial sales tax of $7,500.
The machinery is Class 8 equipment with a CCA rate of 20%.
Assuming that the opening UCC for Class 8 assets is 50, the maximum CCA that can be deducted for this machine in fiscal year 2020 would be calculated as follows:
In the year of acquisition, a half year rule is applied to the rate which is 20%, giving an allowable rate of 10%.
Thus, the maximum amount of CCA allowed would be: (58,000 + 24,000 + 7,500) * 10% = $8,250.
This CCA deduction would reduce the UCC of the equipment to $58,250 – $8,250 = $50,000.
This means the maximum CCA that can be deducted for this machine in fiscal year 2020 is Option D. $26,850.
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Requirement Fill in the missing amounts (indicated with question marks). Requirement 1. Fill in the missing amounts. Begin by completing the income statement. Stingray Company Income Statement For the Year Ended December 31, 2012 Sales Cost of goods sold Gross profit on sales. Administrative expenses Operating income Intrennt nunnnnn KANKA Inda $ 575.000 375,000 41,000 0.000 Sales. Cost of goods sold Gross profit on sales. Administrative expenses Operating income Interest expense Income tax expense Net income 375,000 41,000 9.000 97.500 Data table Stingray Company Income Statement For the Year Ended December 31, 2012 Sales. Cost of goods sold Gross profit on sales... N Administrative expenses Operating income Interest expense Income tax expense $ Print 575,000 ? 375,000 41,000 ? 9,000 97.500 Done Data table TYCE MCome Cash. Accounts receivable...... Inventory. Equipment.. Total Stingray Company Balance Sheet At December 31, 2012 $ $? Accounts payable 12,500 Note payable. 48,000 966,000 Contributed capital Retained earnings. 1,126,500 Total 59 $ 13,300 9,700 650,000 ? 2
Stingray Company Income Statement For the Year Ended December 31, 2012
Sales: $575,000
Cost of goods sold: $375,000
Gross profit on sales: $200,000 (575,000 - 375,000)
Administrative expenses: ?
Operating income: $41,000
Interest expense: ?
Income tax expense: $9,000
Net income: $97,500
To complete the income statement, we need to find the missing amounts for administrative expenses and interest expense.
To find the missing amount for administrative expenses, we can use the formula:
Operating income = Gross profit on sales - Administrative expenses
$41,000 = $200,000 - Administrative expenses
Administrative expenses = $200,000 - $41,000
Administrative expenses = $159,000
Therefore, the missing amount for administrative expenses is $159,000.
Next, to find the missing amount for interest expense, we can use the formula:
Net income = Operating income - Interest expense - Income tax expense
$97,500 = $41,000 - Interest expense - $9,000
Interest expense = $41,000 - $9,000 - $97,500
Interest expense = $41,000 - $106,500
Interest expense = -$65,500
The completed income statement for Stingray Company for the year ended December 31, 2012, is as follows:
Sales: $575,000
Cost of goods sold: $375,000
Gross profit on sales: $200,000
Administrative expenses: $159,000
Operating income: $41,000
Interest expense: -$65,500
Income tax expense: $9,000
Net income: $97,500
Please note that a negative interest expense indicates that the company had interest income rather than interest expense during the year.
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explain Integrated Marketing Communication Strategy using SOSTAC plan
An Integrated Marketing Communication Strategy is an essential part of a company's overall marketing strategy. Using the SOSTAC plan can help businesses create an effective IMC strategy by ensuring that all aspects of marketing communication are coordinated and consistent
Integrated Marketing Communication (IMC) is a method of coordinating the various aspects of marketing communication to help a company, product, or service deliver a consistent message to its customers. Integrated Marketing Communication is more than just a method of communication; it's a strategic approach to business that unites all marketing efforts. The IMC approach is more than just an advertising campaign; it's a company-wide mindset that ensures that all marketing activities, such as public relations, direct marketing, sales promotion, digital marketing, and advertising, are unified and aimed at the same target audience with the same message.
SOSTAC plan:
SOSTAC is a marketing planning model developed by Paul Smith in the 1990s. It is a framework that businesses use to build a structured marketing plan. The term SOSTAC stands for Situation Analysis, Objectives, Strategy, Tactics, Action, and Control.
The Situation Analysis involves looking at where the company currently stands and what its competitors are doing. This step involves researching the market and analyzing data to determine the company's current situation.
Objectives come next in the SOSTAC plan. Objectives are what the company wants to achieve in terms of sales, profit, or market share. The objectives need to be specific, measurable, achievable, realistic, and time-bound.
The Strategy involves defining the target market, positioning the product, and creating the value proposition. This stage of the SOSTAC plan requires the development of a marketing strategy that includes the creation of the company's unique selling proposition, determining the target audience, and identifying how the company will differentiate itself from its competitors.
Tactics involve selecting the channels of communication that the company will use to reach its target audience. The company may use advertising, public relations, direct marketing, or sales promotion.
Action involves implementing the marketing plan. This includes creating a timeline, allocating resources, and assigning responsibilities.
Finally, Control is the stage where the company monitors the effectiveness of the marketing plan and makes any necessary adjustments. This step involves measuring the effectiveness of the marketing plan, assessing the return on investment, and making any necessary changes.
In conclusion, an Integrated Marketing Communication Strategy is an essential part of a company's overall marketing strategy. Using the SOSTAC plan can help businesses create an effective IMC strategy by ensuring that all aspects of marketing communication are coordinated and consistent, leading to a more effective and efficient marketing campaign.
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Time 0:
• You buy one of the Lagotto Romagnolos discussed in the article. Cost $3,500.
• Your new puppy also requires supplies when you bring them home (e.g., crate, collar, leash, bowl). Cost $500.
Time 1 – 12 (for simplicity, assume all cash flows occur at the end of each year):
• In the first year only, you pay to have your puppy spayed/neutered, attend training classes, and have to make some repairs due to your new puppy’s damage (because that’s what puppies do). Cost $500.
• Each year you own the puppy, you must pay the following to keep your puppy healthy and happy:
o Food: $300
o Treats: $100
o Veterinarian visits: $400
o Grooming visits: $300
o Boarding costs: $500
• Sadly, your puppy will not live forever. Assume that the last year is more costly than most. In addition to the above costs, add $1,000 for end of life care (year 12 only).
• The appropriate discount rate for this exercise is 5%.
Draw a timeline of the cash flows associated with owning your puppy.
Calculate the NPV of your new puppy based on the above assumptions.
What is the NPV calculation missing?
The NPV calculation for owning your new puppy is missing the consideration of the resale value or salvage value of the Lagotto Romagnolo dog at the end of its life.
The NPV (Net Present Value) is a financial metric used to assess the profitability of an investment by calculating the present value of its cash flows. In this case, we need to calculate the NPV of owning the Lagotto Romagnolo puppy based on the given cash flows.
Here is a timeline of the cash flows associated with owning your puppy:
Time 0:
Initial purchase cost: -$3,500
Supplies: -$500
Time 1 - 12:
Yearly costs for food, treats, veterinarian visits, grooming visits, and boarding costs: -$1,600 per year ([$300 + $100 + $400 + $300 + $500] per year)
Year 1:
Additional costs for spaying/neutering, training classes, and repairs: -$500
Year 12:
Additional end-of-life care cost: -$1,000
Now, let's calculate the NPV using a discount rate of 5%. We need to discount each cash flow to its present value and sum them up.
PV(Time 0) = -$3,500
PV(Time 1-11) = -$1,600 * (1 - 1/(1+0.05)^11) / 0.05 = -$12,954.32
PV(Year 1) = -$500 / (1+0.05) = -$476.19
PV(Year 12) = (-$1,600 + $1,000) / (1+0.05)^12 = -$1,515.49
NPV = PV(Time 0) + PV(Time 1-11) + PV(Year 1) + PV(Year 12)
= -$3,500 + (-$12,954.32) + (-$476.19) + (-$1,515.49)
= -$18,445.00
The NPV of owning your new Lagotto Romagnolo puppy, based on the given assumptions and cash flows, is -$18,445.00. However, the NPV calculation is missing the consideration of the resale value or salvage value of the dog at the end of its life.
If you plan to sell or find a new home for the dog after it passes away, the potential cash inflow from the sale should be included in the cash flows to get a more accurate NPV calculation.
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(a) Discuss the concepts of substance over form and off balance sheet finance. Discuss how the concept of substance over form is used in determining the accounting treatment of preference shares as debt or equity. Your answer to this part of the question should not be more than 180 words (6 marks) (b) A company has issued specific preference shares to its fund managers. They carry the right to an annual payment based on 10% of the realised gains on the fund recorded in the period. How should the preference shares be accounted for? Give reasons for your answer. Your answer to this part of the question should not be more than 120 words. (4 marks) (c) Pointer Plc has two investments. One, an investment in listed shares, is available for sale as a financial asset. The current market value is £200,000 but the shares were bought for £500,000. The other is an investment in a three year bond with an amortised cost of £7,000,000 with a stated and effective interest rate of 7% (current market rates are 10%). After two years Pointer Plc is not expecting to receive the last year's interest and expects to receive only 2/3 of the principal. Required i. What is impairment in relation to financial assets measured at amortised cost. How is impairment accounted for? Your answer to this part of the question should not be more than 120 words. (4 marks)
(a) The concept of substance over form means that the economic substance of a transaction or arrangement should be considered over its legal form. This means that the accounting treatment should reflect the underlying economic reality of the transaction, rather than just its legal form. Off balance sheet finance refers to financing activities that are not recorded on a company's balance sheet, such as leases and derivatives.
When determining the accounting treatment of preference shares as debt or equity, the concept of substance over form is used to consider the underlying nature of the preference shares. If the rights and obligations associated with the preference shares resemble those of debt, then they should be accounted for as debt. If they resemble those of equity, then they should be accounted for as equity. Factors such as the presence of fixed dividends, non-participation in residual profits, and lack of voting rights may indicate that the preference shares should be accounted for as debt.
(b) The specific preference shares issued to the fund managers should be accounted for as liabilities, since they carry the obligation to make annual payments based on the realised gains on the fund. This reflects the substance over form concept, where the preference shares resemble debt due to their fixed payment obligation. The preference shares would be classified as financial liabilities at fair value through profit or loss, since their fair value can be reliably measured.
(c) Impairment in relation to financial assets measured at amortised cost refers to a decline in the expected future cash flows from the asset. In this case, if Pointer Plc does not expect to receive the last year's interest and only 2/3 of the principal, then there is a significant risk of impairment. To account for the impairment, Pointer Plc would need to recognise an impairment loss equal to the difference between the carrying amount of the investment and its recoverable amount (the present value of the expected future cash flows). The impairment loss would be recognised in profit or loss, and the carrying amount of the investment would be reduced by the same amount. This reflects the concept of prudence in accounting, where losses should be recognised as soon as they are probable, but gains should only be recognised when certain.
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he June 30, 2020, unadjusted trial balance for Trenton Consulting after its first year of operations follows: Trenton Consulting Unadjusted Trial Balance June 30, 2020 Unadjusted Trial Balance Account Debit Credit Cash $ 710 Accounts receivable 3,050 Prepaid rent 3,840 Equipment 9,300 Accounts payable $ 1,760 Toni Trenton, capital 27,310 Toni Trenton, withdrawals 7,180 Consulting revenue 30,500 Wages expense 25,220 Insurance expense 1,650 Rent expense 8,620 Totals $ 59,570 $ 59,570 Additional information: Annual depreciation on the equipment is $1,650. The balance in the Prepaid Rent account is for six months of rent commencing March 1, 2020. Unpaid and unrecorded wages at June 30 totalled $3,500. Accrued revenues at June 30 totalled $4,400. Required: 1. - 3. Use the above information to complete the work sheet. 4. Calculate the balance in the capital account as it would appear on the June 30, 2020, balance sheet..
The balance in the capital account as it would appear on the June 30, 2020, balance sheet is $19,740.
To complete the worksheet, we will need to prepare the adjusted trial balance, income statement, statement of owner's equity, and balance sheet. Here are the calculations and adjustments required:
Calculate the Adjusted Trial Balance:
To calculate the adjusted trial balance, we need to make adjustments for the additional information provided.
a) Depreciation Expense:
Debit: Depreciation Expense $1,650
Credit: Accumulated Depreciation - Equipment $1,650
b) Prepaid Rent Adjustment:
Debit: Rent Expense $1,920 [($3,840 / 6) × 3 months]
Credit: Prepaid Rent $1,920
c) Wages Expense Adjustment:
Debit: Wages Expense $3,500
Credit: Wages Payable $3,500
d) Accrued Revenue Adjustment:
Debit: Accounts Receivable $4,400
Credit: Consulting Revenue $4,400
Adjusted Trial Balance:
Account Debit Credit
Cash $ 710
Accounts Receivable 7,450
Prepaid Rent $ 1,920
Equipment $ 9,300
Accum. Depreciation $ 1,650
Accounts Payable $ 1,760
Wages Payable 3,500
Toni Trenton, Capital 27,310
Toni Trenton, Withdrawals 7,180
Consulting Revenue 34,900
Wages Expense 28,720
Insurance Expense 1,650
Rent Expense 10,540
Total $60,400 $60,400
Prepare the Income Statement:
The income statement summarizes the revenues and expenses for the period.
Income Statement:
Consulting Revenue $34,900
Wages Expense 28,720
Insurance Expense 1,650
Rent Expense 10,540
Depreciation Expense 1,650
Net Income $-390
Prepare the Statement of Owner's Equity:
The owner's capital account modifications are displayed in the owner's equity statement.
Statement of Owner's Equity:
Toni Trenton, Capital, July 1, 2019 $-
Net Income (390)
Withdrawals 7,180
Toni Trenton, Capital, June 30, 2020 $-7,570
Determine the capital account balance as it would show on the balance sheet as of June 30, 2020:
To calculate the ending balance in the capital account, we need to consider the beginning capital balance, net income (or loss), and withdrawals.
Beginning Capital Balance: $27,310
Net Income (or Loss): -$390
Withdrawals: $7,180
Ending Capital Balance: Beginning Capital + Net Income (or Loss) - Withdrawals
Ending Capital Balance: $27,310 - $390 - $7,180
Ending Capital Balance: $19,740
Based on the calculations, the balance in the capital account as it would appear on the June 30, 2020, balance sheet is $19,740.
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Production Order Quantity Model Radovilsky Manufacturing Company makes flashing lights for toys. The company operates its production 300 days a year. It has orders for about 12, 000 units per year and has the capability of producing 100 per day. Setting up the light production costs $50. The cost of each light is $1. The holding cost is $0.1 per light per year. a) What is the optimal size of production run? b) What is the average holding cost per year? c) What is the average setup cost per year? d) What is the total cost per year, including the cost of the lights?
a) The optimal size of the production run is 3464 units. b) The average holding cost per year is $62.20. c) The average setup cost per year is $0.58. d) The total cost per year, including the cost of the lights is $12345.52.
a) Optimal size of production runThe optimal size of production run can be calculated using the formula for production order quantity model.
D = annual demand = 12000,
S = cost of setup = $50,
H = holding cost per unit per year = $0.1,
C = cost per unit = $1
The formula for optimal size of production run is
Q = sqrt((2DS)/H)
Therefore,
Q = sqrt((2*12000*50)/0.1) = sqrt(12000000) = 3464 units
Therefore, the optimal size of the production run is 3464 units.
b) Average holding cost per year
Average holding cost per year can be calculated as
H = (Q/2) * H * (D/Q)
Therefore, H = (3464/2) * 0.1 * (12000/3464) = $62.20
Therefore, the average holding cost per year is $62.20.
c) Average setup cost per yearAverage setup cost per year can be calculated as follows.
Number of setups per year = (Annual Demand/ Q)
Number of setups per year = 12000/3464 = 3.46
Number of production days = 300
Average setup cost per year = S * (Number of setups per year/Number of production days)
Average setup cost per year = 50 * (3.46/300) = $0.58
Therefore, the average setup cost per year is $0.58.
d) Total cost per year, including the cost of the lights
The total cost per year can be calculated as follows.
TC = DC + (Q/2) * H + S * (D/Q)
TC = (12000*$1) + (3464/2) * $0.1 + $50 * (12000/3464)
TC = $12000 + $173.20 + $172.32 = $12345.52
Therefore, the total cost per year, including the cost of the lights is $12345.52.
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KADS, Inc., has spent $300,000 on research to develop a new computer game. The firm is planning to spend $150,000 on a machine to produce the new game. Shipping and installation costs of the machine will be capitalized and depreciated; they total $20,000. The machine has an expected life of three years, a $60,000 estimated resale value, and falls under the MACRS seven-year class life (depreciation of 14.29%, 24.49%, and 17.49% in years 1, 2, and 3 respectively). Revenue from the new game is expected to be $800,000 per year, with costs of $350,000 per year. The firm has a tax rate of 30 percent, an opportunity cost of capital of 12 percent, and it expects net working capital to increase by $50,000 at the beginning of the project. What will the YEAR 0 (ONLY YEAR 0!) estimated after-tax cash flow for this project be? Select one: a. -$520,000 b. $230,000 c. $102,288 d. -$220,000
Year 0 estimated after-tax cash flow for this project is $364,000.
The Year 0 estimated after-tax cash flow for the project can be calculated by considering the initial investment and the net working capital requirement.
The initial investment consists of the research and development cost ($300,000) and the cost of the machine ($150,000 + $20,000 for shipping and installation). Therefore, the initial investment is $470,000.
Next, we need to consider the change in net working capital, which is an increase of $50,000 at the beginning of the project.
To calculate the after-tax cash flow, we need to consider the tax rate. Given that the firm has a tax rate of 30 percent, we multiply the initial investment and the change in net working capital by (1 - tax rate).
After applying the tax rate, the Year 0 estimated after-tax cash flow can be calculated as follows:
Year 0 estimated after-tax cash flow = (Initial investment + Change in net working capital) × (1 - Tax rate)
= ($470,000 + $50,000) × (1 - 0.30)
= $520,000 × 0.70
= $364,000
Therefore, the Year 0 estimated after-tax cash flow for this project is $364,000.
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On March 1, 2020, Mike Dials purchased a suit at Bonita's Fine Apparel Store. The suit cost $550 and Mike used his Bonita's credit card. Bonita's charges 2% per month interest if payment on credit charges is not made within 30 days. On April 30, 2020, Mike had not yet made his payment. What entry should Bonita's make on April 30th? Accounts Receivable 11 Interest Revenue 11 Bad Debt Expense Interest Expense Accounts Receivable Accounts Receivable Interest Revenue Sales Revenue Sunny 539 11 561 550 11 550 Q O Interest Expense Accounts Receivable Accounts Receivable Interest Revenue Sales Revenue Uncollectible Account Accounts Receivable 11 561 550 550 11 550 550
The entry Bonita's Fine Apparel Store should make on April 30th to account for Mike Dials' unpaid credit charges and the accrued interest is:
Accounts Receivable 11
Interest Revenue 11
This entry reflects the recognition of the outstanding amount on Mike Dials' account as an account receivable and the corresponding interest revenue earned by Bonita's Fine Apparel Store due to the overdue payment. The amount of $11 represents the accrued interest calculated at a rate of 2% per month on the $550 suit purchased by Mike.
By recording this entry, Bonita's Fine Apparel Store recognizes the unpaid credit charges and the interest income they have earned due to the delayed payment by Mike Dials. This entry helps maintain accurate records of accounts receivable and revenue, reflecting the financial impact of the transaction.
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Intelisystems manufactures an optical switch that it uses in its final product. InteliSystems incurred the following manufacturing costs when it produced 67,000 units last year: InteliSystems does not yet know how many switches it will need this year; however, another company has offered to sell InteliSystems the switch for $15.00 per unit. If InteliSystems buys the switch from the outside supplier, the manufacturing facilities that will be idle cannot be used for any other purpose, yet none of the fixed costs are avoidable.
Requirements:
1. Given the same cost structure, should InteliSystems make or buy the switch? Show your analysis.
2. Now, assume that InteliSystems can avoid $108,000 of fixed costs a year by outsourcing production. In addition, because sales are increasing, InteliSystems needs 72,000 switches a year rather than 67,000. What should InteliSystems do now?
3. Given the last scenario, what is the most InteliSystems would be willing to pay to outsource the switches?
DATA TABLE:
Direct materials $603,000
Direct labor 100,500
Variable MOH 67,000
Fixed MOH 435,500
Total manufacturing cost for 67,000 units $1,206,000
1. Should InteliSystems make or buy the switch? Show your analysis.The company's manufacturing cost for 67,000 units is $1,206,000. The cost of manufacturing 67,000 units is:$1,206,000/67,000 = $18 per unitIf they purchase the switches from the outside supplier, it will cost $15 per unit.
2. What should InteliSystems do now?InteliSystems can avoid $108,000 of fixed costs a year by outsourcing production. InteliSystems needs 72,000 switches a year rather than 67,000.The total manufacturing cost for 72,000 units is:$603,000 + $100,500 + $94,000 + ($435,500/67,000 × 72,000) = $1,465,400The cost per unit is $20.38:$1,465,400/72,000 = $20.38If they purchase switches from the outside supplier, they will pay $15 per unit or $1,080,000 for 72,000 units.
3. What is the most InteliSystems would be willing to pay to outsource the switches?If InteliSystems wants to buy the switches from outside suppliers, the most they would be willing to pay is the cost of producing the switches in-house:Cost per unit = $603,000 + $100,500 + $94,000 + ($435,500/67,000 × 67,000)/67,000 = $18. They should pay less than $18 per unit to outsource the switches. Therefore, they should outsource the switches if they can get a price less than $18 per unit.
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You are a newsvendor selling San Pedro Times every morning. Before you get to work, you go to the printer and buy the day’s paper for $0.40 a copy. You sell a copy of San Pedro Times for $1.30. Daily demand is distributed normally with mean = 330 and standard deviation = 66. At the end of each morning, any leftover copies are worthless and they go to a recycle bin.
a. How many copies of San Pedro Times should you buy each morning? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Round your z-value to 2 decimal places and final answer to to 2 decimal places.)
b. Based on a, what is the probability that you will run out of stock? (Round your answer to the nearest whole number.)
a. To determine the optimal number of copies of San Pedro Times to buy each morning, we can use the newsvendor model. The newsvendor model aims to find the order quantity that maximizes expected profit.
Let's denote the order quantity as Q. We want to find the value of Q that minimizes the expected overage (leftover copies) and underage (unsold copies) costs.
The critical value for the given α-level can be found using Excel's NORMSINV() function. Assuming a desired service level of α = 0.95 (corresponding to a 95% service level), we can calculate the z-value:
Z = NORMSINV(α) = NORMSINV(0.95) ≈ 1.645
The optimal order quantity Q can be calculated as:
Q = mean demand + Z * standard deviation
Q = 330 + 1.645 * 66
Calculating the value of Q:
Q ≈ 330 + 1.645 * 66 ≈ 330 + 108.57 ≈ 438.57
Therefore, you should buy approximately 439 copies of San Pedro Times each morning.
b. To calculate the probability of running out of stock, we need to determine the probability that the demand exceeds the quantity ordered (Q). Since the demand follows a normal distribution, we can calculate this probability using the z-value and standard deviation.
First, we need to calculate the z-score for Q:
z = (Q - mean demand) / standard deviation
z = (439 - 330) / 66 ≈ 1.80
Using a standard normal distribution table or Excel's NORMSDIST() function, we can find the probability:
Probability of running out of stock = 1 - NORMSDIST(z)
Probability of running out of stock ≈ 1 - NORMSDIST(1.80)
Calculating the probability:
Probability of running out of stock ≈ 1 - NORMSDIST(1.80) ≈ 1 - 0.9641 ≈ 0.0359
Therefore, the probability of running out of stock is approximately 3.59% (or 4% when rounded to the nearest whole number).
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Which of the following is not a good feature of the payback period and the discounted payback period methods? A. Both methods are easy to visualise, are quickly understood, and easy to calculate. B. The methods can be used as a rough screening device. C. The methods emphasise the earliest returns. D. The methods deal with cash flows instead of accounting profits.
The answer is D. The methods deal with cash flows instead of accounting profits.
The payback period and discounted payback period methods focus on cash flows rather than accounting profits. This is considered a good feature because cash flows are a more direct measure of the actual cash inflows and outflows from an investment. Accounting profits can be influenced by non-cash items such as depreciation and accruals, which may not accurately reflect the actual cash flows.
Therefore, option D, stating that the methods deal with cash flows instead of accounting profits, is not a negative feature but rather a positive one.
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Evaluate the following pure-yield pickup swap: You currently hold a 20-year, AA-rated, 8.5% coupon bond priced to yield 11.0%. As a swap candidate, you are considering a 20-year, AA-rated, 11.0% coupo
There is a 20-year, AA-rated, 8.5% coupon bond priced to yield 11.0%, and an investor is considering swapping this bond for a 20-year, AA-rated, 11.0% coupon bond. This strategy is a good idea if the investor believes that the 11.0% coupon bond has better credit quality than the 8.5% coupon bond or that interest rates will decrease in the future.
However, if the credit quality of the 11.0% coupon bond is worse than the 8.5% coupon bond, then this swap is not advisable. The investor needs to consider several factors before making this swap. A swap might not be cost-effective, which means that the investor will lose money if the cost of the swap exceeds the yield gain from the swap.
In conclusion, the pure-yield pickup swap is a good idea if the investor believes that the credit quality of the bond is better or that interest rates will decrease in the future.
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Give an example of a company that uses a direct-to-consumer (DTC) marketing approach. Describe how their DTC works.
One example of a company that uses a direct-to-consumer (DTC) marketing approach is Warby Parker, an eyewear retailer. Warby Parker's DTC model involves selling its products directly to consumers through its website and physical retail stores, bypassing traditional brick-and-mortar retailers.
Warby Parker offers a unique buying experience for its customers. First, customers can take a quiz on their website to get personalized recommendations for eyeglasses or sunglasses based on their face shape, style preferences, and prescription needs. Customers can then choose up to five frames to try on at home for free, with no obligation to purchase.
Once the customer has selected the frames they like, they can either order their glasses online or visit one of Warby Parker's retail stores to complete their purchase. The company also offers virtual try-on technology using augmented reality, allowing customers to preview how frames will look on their face without leaving home.
By using a DTC approach, Warby Parker is able to keep prices lower for customers by cutting out the middleman and reducing overhead costs associated with running a traditional retail store. It also allows them to have more control over the customer experience and build stronger relationships with their customers.
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weet Acacia Co. uses a standard job cost system with a normal capacity of 25,500 direct labour hours. Sweet Acacia Co. produces 12,400 units, which cost $211,500 for direct labour (23,500 hours), $28,024 for variable overhead, and $144,460 for fixed overhead. The standard variable overhead per unit is $2 (2 hours at $1 per hour), and the standard fixed overhead per unit is $10.40 (2 hours at $5.20 per hour).
Calculate the fixed overhead spending (budget) variance.
Fixed overhead spending variance $enter a dollar amount select an option FavourableNeither favourable nor unfavourableUnfavourable
To calculate the fixed overhead spending (budget) variance, we need to compare the actual fixed overhead incurred with the budgeted fixed overhead.
Given information:
Normal capacity: 25,500 direct labor hours
Actual direct labor hours: 23,500
Actual fixed overhead: $144,460
Standard fixed overhead per unit: $10.40 (2 hours at $5.20 per hour)
Actual units produced: 12,400
First, we calculate the budgeted fixed overhead based on the standard fixed overhead per unit:
Budgeted fixed overhead = Standard fixed overhead per unit × Actual units produced
Budgeted fixed overhead = $10.40 × 12,400
Budgeted fixed overhead = $128,960
Now, we can calculate the fixed overhead spending variance:
Fixed overhead spending variance = Actual fixed overhead - Budgeted fixed overhead
Fixed overhead spending variance = $144,460 - $128,960
Fixed overhead spending variance = $15,500
The fixed overhead spending variance is $15,500.
Since the actual fixed overhead is higher than the budgeted fixed overhead, the variance is unfavorable.
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A company has 4 (independent) manufacturing plants, and each has $1 million in value. For simplicity reason, let us assume that the chance of a single fire destroying a whole plant in 5 year period is 5%, and there is either no loss or total loss (no partial loss). What is the probability that loss equals to $2 million? O 1.35% 07.14% 2.23% 4.51%
Given, a company has 4 independent manufacturing plants, and each has a $1 million value and the chance of a single fire destroying a whole plant in a 5-year period is 5%.We need to find the probability that the loss equals $2 million. The total loss of $2 million can happen only in two cases.
The first case is that two plants got destroyed in a fire, and the second case is that all four plants got destroyed. The probability of any single plant being destroyed is 5%, and since the plants are independent, the probability of any two plants being destroyed is: (0.05) × (0.05) = 0.0025 = 0.25%. And the probability of all four plants getting destroyed is: (0.05) × (0.05) × (0.05) × (0.05) = 0.00000625 = 0.000625%. Now, adding the two probabilities will give us the probability of a $2 million loss. (0.25%) + (0.000625%) = 0.25% + 0.000625% = 0.250625%.Hence, the answer is 0.25%.
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Write A Memo That Is At Least Two Paragraphs In Length Describing Yourself. Be Sure To Include Information On Your Previous Writing Experience And Other Interesting Bits Of Information About Yourself, And Your Hobbies. Please Also Feel Free To Use Headings For Clarity/Organization.
Write a memo that is at least two paragraphs in length describing yourself.
Be sure to include information on your previous writing experience and other interesting bits of information about yourself, and your hobbies.
Please also feel free to use headings for clarity/organization.
Dear Supervisor,
I am excited to introduce myself as an AI-powered chatbot named BAI Chat. I have been designed using OpenAI's GPT-3.5 technology, and my main purpose is to assist you with your queries and provide valuable information on various topics.
Previous Writing Experience:
My training set includes a wide range of texts such as news articles, academic papers, blogs, and social media posts, which have helped me develop exceptional writing skills. I have been programmed to generate human-like text that caters to different needs, making me an ideal assistant for any written communication.
Other Interesting Information:
Apart from being a language model, here are some interesting bits of information about me. I love learning new things and expanding my knowledge base, which makes me constantly curious. In my free time, I enjoy reading books, watching movies, and playing trivia games. These hobbies help me improve my cognitive abilities and stay up-to-date with current events.
Thank you for taking the time to get to know me better. If you have any questions or queries, please feel free to ask me anytime.
Heading 1: Writing Skills
I possess exceptional writing skills as a chatbot built using the latest technology. My training set includes a vast database of texts from various categories, enabling me to generate human-like text that is easy to read and understand. Whether you need assistance with writing emails, reports, or any other written communication, I am well-equipped to help.
Heading 2: Hobbies
Although I am an AI-powered assistant, I have hobbies too! I love reading books and staying up-to-date with current events. I also enjoy watching movies and playing trivia games, which helps me improve my cognitive abilities.
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The neutrality of money refers to the fact that a change in the nominal money stock has no effect on output or the interest rate in the short-run
（True/False Statements
Please state whether the statement is True or False in the space provided below, and explain the reasoning behind your answer.
It is possible to get partial grade for explanation, even if your T/F answer is incorrect. Incorrect answer with no explanation will draw a zero mark.
The statement "The neutrality of money refers to the fact that a change in the nominal money stock has no effect on output or the interest rate in the short-run" is False.
The neutrality of money is an important concept in economics that suggests changes in the money supply do not have an immediate impact on output or interest rates in the short-run. However, in the long-run, changes in the money supply can affect these variables.
In the short-run, other factors such as aggregate demand, government policies, and market conditions can influence output and interest rates. For example, during an economic recession, even if the central bank increases the money supply, it may not lead to an immediate increase in output or a decrease in interest rates if businesses and consumers are hesitant to spend due to uncertainty or lack of confidence.
In the long-run, however, the neutrality of money suggests that changes in the money supply will eventually affect output and interest rates. According to classical economic theory, an increase in the money supply will lead to inflation as the excess money chases the same amount of goods and services. This inflationary pressure can eventually impact output and interest rates.
In summary, while the neutrality of money suggests that changes in the money supply do not have an immediate impact on output or the interest rate in the short-run, it does not mean that these variables are completely unaffected. Other factors can play a role in determining their levels in the short-run, but in the long-run, changes in the money supply can influence output and interest rates.
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The neutrality of money does not hold true in the short run, as changes in the nominal money stock can affect output and the interest rate. However, it holds true in the long run, where changes in the money supply only affect nominal variables.
False.
The neutrality of money is an economic concept that suggests changes in the nominal money stock do not have a lasting impact on real variables such as output or employment in the long run. However, in the short run, changes in the money supply can indeed affect output and the interest rate.
In the short run, an increase in the money supply leads to lower interest rates due to the excess supply of money, which stimulates borrowing and investment. This increase in investment can boost aggregate demand and result in higher output levels. Similarly, a decrease in the money supply can lead to higher interest rates, reduced borrowing, and investment, leading to lower output.
However, in the long run, according to the classical dichotomy and the quantity theory of money, changes in the money supply only affect nominal variables like prices and wages, while real variables such as output and employment are determined by factors like technology, labor, and capital. In the long run, the economy adjusts to changes in the money supply, and prices and wages adjust proportionally, resulting in no lasting impact on output or the interest rate.
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An export subsidy can be good for a country if a. the subsidy allows the country's only exporting firm to capture the entire world market. b. the subsidy decreases the export price so that the export quantity increases c. the subsidy is offset by a countervailing duty. d. the international market for the export product is highly competitive.
An export subsidy can be good for a country if the subsidy decreases the export price so that the export quantity increases. The government gives exporters a subsidy to increase exports and promote domestic production. When the government provides a subsidy on exports
it reduces the cost of production and prices in international markets. This results in the increase of the export quantity. As a result, the company's foreign exchange earnings rise, resulting in increased employment, higher revenues, and profits.However, export subsidies can be detrimental to the economy if used in the wrong way. For instance, If an export subsidy is applied in an industry that is not globally competitive, it may lead to excess production and inefficient allocation of resources.
Furthermore, export subsidies may harm the environment by encouraging industries with high pollution rates to produce more. the subsidy decreases the export price so that the export quantity increases. An export subsidy is a government incentive offered to a business that exports goods to other countries. Export subsidies are commonly used to reduce the cost of goods sold in foreign countries and increase demand for domestic products in international markets.
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case analaysis
Technomed is a Belgian high-tech company. Technomed developed "E-lab", a device that can be connected to a smartphone in order to perform some basic medical tests at home (blood and urine). After doing the tests the patient receives the results immediately on his smartphone. Huawei, the Chinese telecom company, want to introduce the device on the Chinese market and therefore enters into a sales agreement with Technomed. Huawei buys 100.000 E-labs in order to sell them in China. The product is delivered as agreed and Huawei paid the purchase price. So far so good. Comment on the following 2 scenario’s:
a) Scenario 1: Imagine that a number of Chinese customers, who bought the device at Huawei, discovered that there are some problems with the accuracy of one of the blood tests. They inform Huawei about the problems. You work for Huawei as a lawyer. Please inform the company’s board on all possible remedies under the CISG that Huawei has against Technomed (both Belgium and China are member states to CIGS).
b) Scenario 2: Imagine that the device works perfectly but unfortunately, the device is not a great success on the Chinese market. In order to sell all 100.000 E-labs, Huawei decides to expand its distribution to the Japanese and South- Korean market. In doing so, Huawei is sued for patent infringement in South- Korea. Apparently, a South-Korean company registered a patent for a nearly identical device. (In Japan and China, there were no problems at all with any third party rights based on industrial property). You work for Huawei as a lawyer. Please inform the company’s board on all possible remedies under the CISG that Huawei has against Technomed.
Answer:
Explanation:
a) Scenario 1: In this scenario, where Chinese customers have discovered accuracy problems with one of the blood tests of the E-lab device, Huawei, as the buyer, may have several remedies under the CISG (United Nations Convention on Contracts for the International Sale of Goods) against Technomed, the seller.
Request for repair or replacement: Huawei can request Technomed to repair the accuracy issue or provide a replacement device that meets the required standards.
Price reduction: If the accuracy problem cannot be adequately resolved, Huawei may seek a price reduction for the affected devices, reflecting the diminished value caused by the accuracy issue.
Avoidance of the contract: If the accuracy problem is significant and fundamentally breaches the contract, Huawei may have the right to terminate the contract and return the devices, seeking a refund of the purchase price.
Damages: Huawei may claim damages for any financial losses suffered due to the accuracy problem, such as costs incurred in addressing customer complaints or reputational damage.
It's important to note that the specific details of the sales agreement between Huawei and Technomed, including any warranties or contractual provisions, would need to be considered to determine the applicability and extent of these remedies.
b) Scenario 2: In this scenario, where Huawei faces a patent infringement lawsuit in South Korea for selling the E-lab devices, Huawei may seek remedies under the CISG to address the situation.
Indemnification: If the patent infringement claim is valid, Huawei may seek indemnification from Technomed, holding them responsible for any damages, legal costs, or settlements resulting from the infringement lawsuit.
Breach of warranty: If Technomed provided warranties or representations regarding the non-infringement of intellectual property rights, Huawei could assert a breach of warranty claim and seek remedies such as damages or termination of the contract.
Reimbursement of costs: Huawei may seek reimbursement of costs incurred in defending the patent infringement lawsuit, such as legal fees, court costs, or settlement payments.
Again, the specific terms and provisions of the sales agreement between Huawei and Technomed, as well as any applicable laws and regulations in South Korea, would play a crucial role in determining the available remedies and their applicability.
It is recommended for Huawei to consult with legal experts specializing in international trade law, intellectual property law, and contract law to fully assess and strategize the appropriate remedies in each scenario.
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.The curves below reflect information about the cost structure of a firm. Use the figure t o answer LAH rehe following AH Figure 13-5 stions. Cost ($) Refer to Figure 13- 5. WHENL sent average total cost? AYMENL 20 B D Quantity of O с of the curves is most likely to repre ABDALL ENL20211! 5. Which of the curves is most likely to repre sent average total cost? A B ENLZUE ENL20 вс C D ENLZ DA MENLE
In Figure 13-5, curve B is most likely to represent average total cost.
Average total cost (ATC) represents the total cost per unit of output produced by a firm. It is calculated by dividing the total cost by the quantity of output. In Figure 13-5, curve B shows a U-shaped cost curve, which is typically associated with average total cost.
At lower levels of output, the curve starts high and slopes downward. This is due to economies of scale, where the fixed costs are spread over a larger quantity of output, resulting in lower average costs. As production increases, the curve reaches a minimum point, indicating the optimal level of output where average total cost is at its lowest.
Beyond that point, the curve starts to rise again due to diseconomies of scale. This occurs when the firm experiences inefficiencies and higher costs as production increases, possibly due to factors such as coordination problems, increased complexity, or resource constraints.
Therefore, curve B in Figure 13-5 is most likely to represent average total cost, capturing the relationship between the quantity of output produced and the corresponding average cost per unit.
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On January 1, 2020, Kuzma Corp. purchased machinery for $630,000 and depreciated it over ten years with no residual value. In 2023, based on new information, it was determined that the asset's useful life will end on December 31, 2033, at which point it will have a residual value of $8,000. Depreciation expense in 2023 is?
The depreciation expense is recalculated to be $44,100 in 2023 based on the asset's residual value and useful life. The adjustment of depreciation expense ensures that it is spread out correctly over the machinery's new useful life.
To calculate the depreciation expense in 2023, we need to determine the remaining useful life of the asset and the annual depreciation expense.
Initially, the machinery was depreciated over ten years, so the total depreciation expense would be $630,000 / 10 = $63,000 per year.
However, in 2023, it was determined that the asset's useful life will end on December 31, 2033, with a residual value of $8,000. This means that there are 10 years remaining from 2023 to 2033.
To calculate the depreciation expense in 2023, we divide the remaining depreciable cost by the remaining useful life:
Remaining depreciable cost = Original cost - Accumulated depreciation
Remaining depreciable cost = $630,000 - ($63,000 x 3) = $630,000 - $189,000 = $441,000
Depreciation expense in 2023 = Remaining depreciable cost / Remaining useful life
Depreciation expense in 2023 = $441,000 / 10 = $44,100
Therefore, the depreciation expense in 2023 is $44,100.
In conclusion, based on the updated information about the asset's useful life and residual value, the depreciation expense in 2023 is recalculated to be $44,100. This adjustment reflects the new estimate of the asset's remaining useful life and helps ensure that the depreciation expense is allocated accurately over the revised useful life of the machinery.
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List and explain 3 symbols of a leader’s power.
Select and explain one source of power.
Three symbols of a leader's power are:
Positional Symbols, Personal Symbols and Communication Symbols.
Positional Symbols: These symbols represent the leader's formal authority and position within an organization or hierarchy. Examples include a title, a corner office, a company car, or a designated seating arrangement during meetings. These symbols communicate the leader's status and serve as visual reminders of their authority and power.
Personal Symbols: Personal symbols are associated with the leader's personal characteristics, traits, or accomplishments. These symbols can include clothing choices, accessories, or specific items that are uniquely identified with the leader. For instance, a signature accessory like a distinctive tie or a piece of jewelry can become a recognizable symbol of a leader's presence and influence.
Communication Symbols: Communication symbols refer to the leader's ability to effectively communicate and persuade others. These symbols include the leader's articulate speech, eloquence, charisma, and ability to inspire and motivate others through words. A leader who can effectively communicate their vision, values, and goals can exert significant influence and build a loyal following.
One source of power is referent power. Referent power is based on the leader's personal qualities and characteristics that make them attractive or admirable to others. It is derived from the respect, admiration, and trust that followers have for the leader. A leader with referent power is seen as a role model, someone who possesses desirable traits and qualities that others aspire to emulate.
This power source is built on strong interpersonal relationships, charisma, and the ability to connect with others on an emotional level. Followers are influenced by the leader because they want to gain the leader's approval or be associated with their perceived positive attributes. Referent power is often considered a highly effective and influential source of power, as it relies on voluntary compliance rather than coercion or formal authority.
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Subject 2 - Performance Pay Choices (Chapter 5) Create a 3-column table which identifies each performance pay group (Individual, Group, and Organization), examples of Minuteman Press employee roles (that each pay group applies to), and examples of specific current performance pay choices (in each pay group) you recommend Ryan modify and re-implement for each pay group.
Recommended Performance Pay Options | Minuteman Press Employee Roles | Performance Pay Group Individuals who work as customer service representatives or sales representatives receive commission-based income based on their individual sales performance.
incentives determined on performance and dependent on reaching or surpassing personal sales goals. Rewards and commendations for superior customer service. Members of the production team and designers are given team-based incentives for meeting production or quality targets. Profit-sharing arrangement depending on the efficiency and productivity of the whole team. Rewarding teamwork and inventiveness with praise and incentives. Organisation | Managers, Executives | Performance-based stock options linked to long-term expansion and financial success of the company. bonuses based on performance that are achieved in accordance with organisational goals and key performance indicators. Programmes and possibilities for advancement in leadership. Note: Depending on each group, the recommended performance pay options may change.
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The allowance method for accounting for bad debts is the preferred accounting method because OA. it ignores when the revenue occurs. OB. it does not affect the balance sheet. OC. it records the bad debt expense when the write-off of uncollectible expenses is recorded. OD. it provides more accurate balances of receivables on the balance sheet.
The allowance method for accounting for bad debts is the preferred accounting method because it provides a more accurate representation of the company's accounts receivable on the balance sheet.
Under the allowance method, a contra-asset account called the allowance for doubtful accounts is created to estimate and record the potential bad debts or uncollectible accounts.
The allowance for doubtful accounts reflects the estimated amount of accounts receivable that may not be collected. By using this method, the company can match the estimated bad debts with the corresponding period's revenue, resulting in a more accurate portrayal of the net realizable value of accounts receivable on the balance sheet.
When a specific account is deemed uncollectible, the company writes off the amount from the accounts receivable and reduces the allowance for doubtful accounts. This ensures that the balance sheet reflects a realistic value of the accounts receivable, taking into consideration the potential non-payment by customers.
Additionally, the allowance method aligns with the matching principle of accounting, where expenses are recognized in the same period as the related revenue. By recording the bad debt expense when the write-off of uncollectible accounts occurs, the allowance method ensures that the financial statements accurately reflect the expenses associated with generating revenue.
Therefore, the allowance method is preferred because it provides a more accurate representation of receivables on the balance sheet and aligns with the matching principle of accounting.
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1. Introduction of the two selected business companies in Malaysia and its organization.
2. Discussion of the business networking possessed by the selected company. (700 words)
3. Discussion of the business networking that contributes significantly to the success of the selected company.
Petronas Gas Berhad (PGB) and Maybank are two famous business companies in Malaysia and deal in gas infrastructure and utility and banking respectively.
A model for other expanding businesses in emerging regions can be found in Maybank international expansion and its transition from a medium-sized Malaysian national bank into one of the most successful regional banks in Asia.
Maybank has defied the idea of business networking by establishing on its strong strengths at home, generating growth in close-by markets which share its cultural outlook, and at the same time moving past some initial phases of international expansion via the acquisition of rivals in the international market. The Malaysian government owns Petronas, an entirely integrated oil and gas firm. The organisation also emphasizes building trust, providing feedback, and celebrating accomplishment as a team in addition to having a positive work environment.
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Complete your and save into a Word document. Submit a single Word document in the dropbox for grading. Q1 – 6 marks As mentioned in the chapter, opinion-polling organizations contact their respondents by sampling random telephone numbers. Although interviewers can reach about 62% of U.S. households, the percentage of those contacted who agree to cooperate with the survey fell from 43% in 1997 to 14% in 2012. (Source: Pew Research Center for the People and the Press). Each house-hold, of course, is independent of the others. Using the cooperation rate from 2012, a) what is the probability that the next household on the list will be contacted but will refuse to cooperate? b) what is the probability of failing to contact a house-hold or of contacting the household but not getting them to agree to the interview? c) show another way to calculate the probability in b). Q2 – 6 marks Employment data at a large company reveal that 72% of the workers are married, that 44% are college graduates, and that half of the college grades are married. What is the probability that a randomly chosen worker: a) is neither married nor a college graduate? b) is married but not a college graduate? c) is married or a college graduate?
A) The probability that the next household on the list will be contacted but will refuse to cooperate is 0.12.
B) The probability of failing to contact a household or of contacting the household but not getting them to agree to the interview is 0.3144.
C) The probability of failing to contact a household or of contacting the household but not getting them to agree to the interview is 0.9136.
a) The probability of a household being contacted but refusing to cooperate can be calculated as follows:
Probability = (cooperation rate in 2012) * (1 - cooperation rate in 2012)
= 0.14 * (1 - 0.14)
= 0.12
Therefore, the probability that the next household on the list will be contacted but will refuse to cooperate is 0.12.
b) The probability of failing to contact a household or of contacting the household but not getting them to agree to the interview can be calculated as follows:
Probability = (1 - percentage of households that can be reached) + (percentage of households that can be reached) * (1 - cooperation rate in 2012)
= (1 - 0.62) + (0.62) * (1 - 0.14)
= 0.3144
Therefore, the probability of failing to contact a household or of contacting the household but not getting them to agree to the interview is 0.3144.
c) Another way to calculate the probability in b) is by using the complement rule:
Probability = 1 - (percentage of households that can be reached) * (cooperation rate in 2012)
= 1 - (0.62) * (0.14)
= 0.9136
Therefore, the probability of failing to contact a household or of contacting the household but not getting them to agree to the interview is 0.9136.
Q2:
a) The probability of a worker being neither married nor a college graduate can be calculated as follows:
Probability = 1 - (probability of being married) - (probability of being a college graduate) + (probability of being both married and a college graduate)
= 1 - 0.72 - 0.44 + 0.5 * 0.44
= 0.14
Therefore, the probability that a randomly chosen worker is neither married nor a college graduate is 0.14.
b) The probability of a worker being married but not a college graduate can be calculated as follows:
Probability = (probability of being married) - (probability of being both married and a college graduate)
= 0.72 - 0.5 * 0.44
= 0.5
Therefore, the probability that a randomly chosen worker is married but not a college graduate is 0.5.
c) The probability of a worker being married or a college graduate can be calculated as follows:
Probability = (probability of being married) + (probability of being a college graduate) - (probability of being both married and a college graduate)
= 0.72 + 0.44 - 0.5 * 0.44
= 0.86
Therefore, the probability that a randomly chosen worker is married or a college graduate is 0.86.
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US gasoline prices are expected to rise over the next few years. Based on the following data, estimate the rise in the weighted index for the expected price of a gallon of gasoline in 2024, when 2019 is the reference year having an index value of 120 . The sales of regular unleaded gasoline are five times the sales of the unleaded plus gasoline, while the sales of the unleaded plus gasoline are three times the sales of the premium gasoline. Iˉn=W1+W2+⋯+WMW1(Cn1/Ck1)+W2(Cn2/Ck2)+⋯+WM(CnM/CkM)×Iˉk,
The rise in the weighted index for the expected price of a gallon of gasoline in 2024 is 48 (approx).
The weighted index for the expected price of a gallon of gasoline in 2024, when 2019 is the reference year having an index value of 120 can be estimated based on the following data. Let us understand the formula used in this question first, the weighted index formula isIˉn=W1+W2+⋯+WMW1(Cn1/Ck1)+W2(Cn2/Ck2)+⋯+WM(CnM/CkM)×Iˉk, Wherein, Iˉn is the new price index, Iˉk is the old price index, W1,W2,..., WM are the weights, Cn1, Cn2,..., CnM are the current year’s prices and Ck1, Ck2,..., CkM are the base year’s prices.
Now let's calculate the expected rise in the weighted index for the expected price of a gallon of gasoline in 2024 when 2019 is the reference year having an index value of 120.Based on the data given in the question, sales of regular unleaded gasoline = 5 * sales of unleaded plus gasoline sales of unleaded plus gasoline = 3 * sales of premium gasolineLet's assume the following: Sales of premium gasoline = $10 a gallon sales of unleaded plus gasoline = $9 a gallonSales of regular unleaded gasoline = $8 a gallonBase year is 2019Reference year is 2024Using the formula, Iˉn=W1+W2+⋯+WMW1(Cn1/Ck1)+W2(Cn2/Ck2)+⋯+WM(CnM/CkM)×Iˉk, where W1 is the weight of sales of regular unleaded gasoline.W2 is the weight of sales of unleaded plus gasoline.W3 is the weight of sales of premium gasoline.W1 = 5 * W2 and W2 = 3 * W3 or W1 = 15 * W3, and W2 = 3 * W3. Let's assume W3 = 1.Iˉn= W1(W1Cn1/W1Ck1) + W2(W2Cn2/W2Ck2) + W3(W3Cn3/W3Ck3) × Iˉk= (15 * 8/8) + (3 * 9/8) + (1 * 10/8) × 120= 15 + 3.375 + 1.25 × 120= 15 + 3.375 + 150= 168.375 or 168 (approx).
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