TRUE. Team norms can have both positive and negative outcomes for a company. The impact of team norms depends on the nature and characteristics of the norms that are established within the team.
Positive team norms can promote collaboration, trust, and accountability among team members, leading to improved teamwork, productivity, and overall performance. On the other hand, negative team norms can hinder communication, create conflicts, and discourage cooperation, resulting in decreased team effectiveness and negative outcomes for the company.
Team norms are a set of shared expectations, beliefs, and behaviors that guide the interactions and functioning of team members. Positive team norms, such as open communication, mutual respect, and support for innovation, can foster a positive work environment and enhance team performance.
They promote a sense of belonging, encourage diverse perspectives, and facilitate effective decision-making. In contrast, negative team norms, such as lack of accountability, resistance to change, or poor communication, can lead to decreased morale, increased turnover, and decreased productivity within the team.
Therefore, it is essential for organizations to establish and reinforce positive team norms while actively addressing and mitigating negative norms to ensure positive outcomes for the company.
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Clockworks Co. reports the following data for the current year: Units sold... 1,200 Unit sales price...... $30 Unit variable cost.. $10 Total fixed cost... $18,000 Required: Calculate Clockworks' pretax income.
To calculate Clockworks Co.'s pretax income, we need to determine the total contribution margin and subtract the total fixed costs. The contribution margin is the difference between the unit sales price and the unit variable cost. Clockworks Co.'s pretax income for the current year is $6,000.
Contribution margin per unit = Unit sales price - Unit variable cost
Contribution margin per unit = $30 - $10
Contribution margin per unit = $20
Total contribution margin = Contribution margin per unit * Units sold
Total contribution margin = $20 * 1,200
Total contribution margin = $24,000
Pretax income = Total contribution margin - Total fixed costs
Pretax income = $24,000 - $18,000
Pretax income = $6,000
Therefore, Clockworks Co.'s pretax income for the current year is $6,000.
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Supply curves describe:
A. The relationship between price and quantity supplied of a good
B. The relationship between income and quantity supplied of a good
C. Willingness to accept for each unit of a good
D. The relationship between price and quantity demanded of a good
E. Both A & C are correct
F. Both B & C are correct.
The correct answer is A. Supply curves describe the relationship between the price of a good and the quantity supplied of that good. A supply curve illustrates the quantity of a good or service that producers are willing and able to supply at different price levels.
It shows the positive relationship between price and quantity supplied, indicating that as the price of a good increases, producers are generally willing to supply more of that good. Option B is incorrect because supply curves do not depict the relationship between income and quantity supplied. Income is typically considered a determinant of demand rather than supply. Option C is also incorrect as the willingness to accept for each unit of a good is more relevant to the concept of supply elasticity rather than supply curves.
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Why hasn't wide scale standardization 'worked' in health care
the way it has in other high-risk fields? Suggest ways to
standardize patient care across the globe. [10 marks]j
Wide scale standardization in health care has not "worked" the way it has in other high-risk fields because of several factors. Despite the fact that medicine is a science, the human body is unpredictable and frequently differs from patient to patient.
Furthermore, standardization may be difficult due to cultural and ethical differences, as well as a lack of consensus on how to define and measure the quality of care. Suggest ways to standardize patient care across the globe: Patient care can be standardized across the globe by implementing the following steps: Standardization of clinical processes: Standardization of clinical processes improves quality, reduces variation, and can help to avoid errors.
Clinical procedures may be standardized by using validated guidelines based on up-to-date research and shared decision-making. Evidence-based guidelines may also help to minimize variation in diagnosis, treatment, and outcomes.Invest in education: Education is an essential part of standardizing care.
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E-commerce sites have changed the world today for business entrepreneurs. Explain how the on-demand e-commerce sites created a paradoxical shift in business for an industry of your choice (Example areas: Real estate business, Hollywood, clothing/fashion merchandising). Students should cite a case study to explain the shift in business plans and models. Students should also consider how the model change to e-commerce on-demand has forced some industries out of business from the disruption.
On-demand and e-commerce sites have brought about a paradoxical shift in various industries, including real estate, Hollywood, and clothing/fashion merchandising.
The emergence of on-demand e-commerce sites has indeed created a paradoxical shift in various industries, including the real estate business, Hollywood, and clothing/fashion merchandising. Let's take a closer look at each industry and explore how the shift to on-demand e-commerce has affected their business plans and models.
Real Estate Business:
Traditionally, the real estate industry relied heavily on physical offices, agents, and in-person property visits. However, the advent of on-demand e-commerce sites in the real estate sector, such as Zillow, Redfin, and Trulia, has transformed the way people buy, sell, and rent properties.
Case Study: Zillow
Zillow, founded in 2006, disrupted the real estate industry by providing an online platform that allowed users to search for properties, view detailed information, and connect with agents. It introduced the concept of "Zestimate," an automated property valuation tool, which provided estimates for property values. Zillow's platform made the process of property hunting more efficient and convenient for both buyers and sellers, reducing the need for extensive in-person visits.
This shift to on-demand e-commerce in the real estate industry has resulted in increased transparency, accessibility, and efficiency. Buyers can explore a wide range of properties, access virtual tours, and make informed decisions without physically visiting each property. Sellers, on the other hand, can reach a broader audience and receive inquiries from potential buyers around the clock. However, this shift has also led to the decline of traditional real estate agents who relied heavily on face-to-face interactions.
Hollywood:
The entertainment industry, particularly Hollywood, has experienced significant disruption due to the rise of on-demand e-commerce platforms, streaming services, and digital distribution channels. Traditional models of film distribution, such as theaters and physical media, have been challenged by the convenience and accessibility provided by on-demand platforms.
Case Study: Netflix
Netflix, founded in 1997 as a DVD-by-mail service, transitioned into a streaming platform, which allowed subscribers to access a vast library of movies and TV shows on-demand. This model disrupted the traditional distribution model of Hollywood, where movies were released in theaters first and later made available for home viewing.
The shift to on-demand e-commerce in the entertainment industry has led to a decline in theater attendance and DVD sales. Consumers now have the freedom to watch movies and shows whenever and wherever they want, directly impacting the box office revenue of films. This has prompted Hollywood studios to adapt their business models by focusing on producing content for streaming platforms, creating original series and movies exclusively for on-demand consumption.
Clothing/Fashion Merchandising:
The fashion industry has witnessed a significant transformation with the rise of on-demand e-commerce platforms. Traditional brick-and-mortar stores have faced competition from online retailers that offer convenience, a vast range of choices, and personalized recommendations.
Case Study: ASOS
ASOS, a UK-based online fashion retailer founded in 2000, disrupted the fashion industry by offering a wide selection of clothing items and accessories online. ASOS embraced the on-demand e-commerce model, providing fast and reliable shipping options and offering a seamless online shopping experience to customers worldwide.
The shift to on-demand e-commerce in the fashion industry has forced many traditional retailers to adapt or face the risk of going out of business. The convenience and accessibility of online shopping have attracted a large customer base, leading to a decline in foot traffic for physical stores. As a result, many brick-and-mortar retailers have had to enhance their online presence or transition to a hybrid model, combining physical stores with robust e-commerce platforms.
In conclusion, on-demand e-commerce sites have brought about a paradoxical shift inin various industries, including real estate, Hollywood, and clothing/fashion merchandising. While these platforms have introduced efficiency, convenience, and broader reach, they have also disrupted traditional business models and led to the decline of certain industry players who were unable to adapt to the changing landscape.
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Keith is an employee of a real estate company. He has negotiated car benefits with his employer. Keith was provided with the car for the period 1 April 2021 to 31 March 2022. The leased car value was $36,000 on 1 April 2021, and the car had only been leased for a year at that time. Keith is required to pay for any petrol and other maintenance costs, which he has determined to be $1,600 for the period.
Advise Keith’s employer as to the FBT consequences (using statutory formula method) arising out of the use of the car.
The Fringe Benefits Tax (FBT) consequences of Keith's employer arising out of the use of the car are that the employer will have to pay a tax that is equivalent to 20% of the grossed-up value of the car, as per the statutory formula method. The taxable value of the car will be calculated as 20% x (36,000 x 1.2) = $8,640. Thus, the employer will be required to pay an FBT of 20% x $8,640 = $1,728.
Explanation:Keith has a car that he has been provided with by his employer, a real estate company. The car was leased for the period between 1 April 2021 and 31 March 2022. When calculating the FBT consequences arising out of the use of the car by Keith, the taxable value of the car must be determined. This can be done by using the statutory formula method, which is used to calculate the FBT on all cars that have been provided by employers.
The statutory formula method requires that the grossed-up value of the car be multiplied by the FBT rate (currently 20%). The grossed-up value of the car is the actual value of the car multiplied by a factor that takes into account the GST credits and the availability of a tax deduction for the employer. In this case, the grossed-up value of the car is calculated as 36,000 x 1.2 = $43,200.The taxable value of the car is therefore 20% x $43,200 = $8,640. The FBT rate is 20%, which means that the employer will be required to pay an FBT of 20% x $8,640 = $1,728. This is the FBT consequence arising out of the use of the car by Keith during the period 1 April 2021 to 31 March 2022.
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The following is a chart of sales for used cars at ACME Used Cars over the last 6 weeks:
Week 1 : 22
Week 2 : 15
Week 3 : 36
Week 4 : 25
Week 5 : 28
Week 6 : 34.
During week 2, a severe thunderstorm caused a power outage in much of the area.
As a result, between weeks 1 and 2, sales declined by______ %. (Enter your response rounded to one decimal place.)
To calculate the percentage decline in sales between weeks 1 and 2, we need to determine the difference between the sales in those two weeks and then calculate the percentage change.
The severe thunderstorm during week 2 caused a power outage, which had a significant impact on sales at ACME Used Cars. To determine the percentage decline in sales between weeks 1 and 2, we calculated the difference in sales between those two weeks. The sales in week 1 were 22, and the sales in week 2 were 15, resulting in a decrease of 7 units. To express this decline as a percentage, we used the formula for percentage change: (Change in sales / Sales in Week 1) * 100.
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In this exercise, you are going to analyze first the relationship between interest rates and bond prices, and then the effect of time to maturity, interest rates and coupon rates on duration.
a) (5 points) First, consider a 10 year bond with a coupon rate of 7% and annual coupon payments. Draw a graph showing the relationship between the price and the interest on this bond. The price should be on the y- axis and the interest rate on the x-axis. To compute the various prices, consider interest rates between 2% and 12% (use 0.5% increments). So your x-axis should go from 2%, then 2.5% ... until 11.5% and then 12%.
Is the relationship linear (i.e. is the slope constant)? Start at 7%. If interest rates go up or down by 0.5% is the price changing by the same amount? What type of relationship do we observe between prices and interest rates (liner, concave, convex or something else)?
b) (5 points) Now consider the same bond with 10 year maturity, a face value or $1,000, a coupon rate of 7% (coupon is paid annually) and assume that the yield to maturity on the bond is 7%. Compute the duration of this bond.
c) (5 points) Next, we are going to analyze the effect of time to maturity on the duration of the bond. Compute the duration of a bond with a face value of $1,000, a coupon rate of 7% (coupon is paid annually) and a yield to maturity of 7% for maturities of 2 to 18 years in 1-year increments (so here we are going to vary the time to maturity and see how duration changes if N=2, 3 ... etc.). What happens to duration as maturity increases?
d) (5 points) Next, we are going to analyze the effect of the yield to maturity on the duration of the bond. Compute the duration of a bond with a face value of $1,000, a coupon rate of 7% (coupon is paid annually) and a maturity of 10 years as the interest rate (or yield to maturity) on the bond changes from 2% to 12% (consider increments of 1% - so you need to compute the duration for various yields to maturity 2%, 3%, ..., 12%) . What happens to duration as the interest rate increases?
e) (5 points) Finally, we are going to analyze the effect of the coupon payment on the duration of the bond. Compute the duration of a bond with a face value of $1,000, a maturity of 10 years and a yield to maturity of 7%. Compute the duration for coupon rates ranging from 2% to 12% (in increments of 1%). What happens to duration as the coupon rate increases?
a) The relationship between bond prices and interest rates is not linear. As interest rates increase, bond prices decrease, and vice versa. The relationship is concave, meaning that the percentage change in bond prices is not constant for each change in interest rates.
Initially, as interest rates increase, the decrease in bond prices is relatively small. However, as interest rates continue to rise, the decrease in bond prices becomes larger.
b) The duration of a bond can be calculated using the formula:
Duration = (1 * PV of Cash Flow 1 + 2 * PV of Cash Flow 2 + ... + N * PV of Cash Flow N) / Bond Price
For the given bond with a maturity of 10 years, a face value of $1,000, a coupon rate of 7%, and a yield to maturity of 7%, the duration can be calculated by discounting the cash flows and weighting them according to their respective periods. In this case, since the coupon rate is equal to the yield to maturity, the bond is priced at par, and the cash flows are constant throughout the bond's life.
Using the formula for the duration of a perpetuity, which is 1/yield to maturity:
Duration = 1 / Yield to Maturity = 1 / 0.07 = 14.29 years
c) To analyze the effect of time to maturity on the duration of the bond, we compute the duration for different maturities while keeping the other factors constant. Using the same bond parameters as before (face value of $1,000, coupon rate of 7%, yield to maturity of 7%), we vary the time to maturity from 2 to 18 years.
The results show that as the time to maturity increases, the duration of the bond also increases. This means that the bond becomes more sensitive to changes in interest rates as its maturity extends. Longer-maturity bonds have higher durations, indicating higher price volatility in response to changes in interest rates.
d) To analyze the effect of the yield to maturity on the duration of the bond, we compute the duration for different yields to maturity while keeping the other factors constant. Using the same bond parameters as before (face value of $1,000, maturity of 10 years, coupon rate of 7%), we vary the yield to maturity from 2% to 12%.
The results show that as the yield to maturity (or interest rate) increases, the duration of the bond decreases. This implies that higher interest rates result in lower bond prices and a shorter duration. The relationship between yield to maturity and duration is inverse, indicating that the bond's sensitivity to interest rate changes diminishes as yields increase.
e) To analyze the effect of the coupon payment on the duration of the bond, we compute the duration for different coupon rates while keeping the other factors constant. Using the same bond parameters as before (face value of $1,000, maturity of 10 years, yield to maturity of 7%), we vary the coupon rate from 2% to 12%.
The results show that as the coupon rate increases, the duration of the bond decreases. This means that bonds with higher coupon rates have shorter durations, indicating lower price volatility in response to changes in interest rates. Higher coupon payments provide a cash flow buffer that reduces the bond's sensitivity to interest rate fluctuations.
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Thomas Co. expects its EBIT to be $250,000 every year forever. The firm can borrow at 5 percent. The company currently has no debt, and its cost of equity is 14 percent. The corporation tax rate for Thomas is 21 percent. (a) What is the value of the firm? (b) What will the value be if the company borrows $300,000 and uses the proceeds to repurchase shares? (c) What is the cost of equity after recapitalization? (d) What is the WACC after recapitalization?
(a) What is the value of the firm?
Value of the firm = Expected EBIT / WACC
Since the company initially has no debt, the WACC is simply the cost of equity:
WACC = Cost of equity = 14%
Value of the firm = $250,000 / 0.14 = $1,785,714
(b) What will the value be if the company borrows $300,000 and uses the proceeds to repurchase shares?
After borrowing $300,000, the new capital structure is:
Debt of $300,000
Equity of $1,785,714
The debt proportion is:
Debt / (Debt + Equity)
= $300,000 / ($300,000 + $1,785,714)
= 0.14
Assuming the cost of debt remains 5% and cost of equity increases to 15%, the new WACC is:
WACCnew = (0.15 * (1 - 0.21)) + (0.05 * 0.14)
= 0.122
The revised firm value is:
Firm valuenew = $250,000 / 0.122
= $2,045,090
(c) Cost of equity after recapitalization = 15% (as assumed)
(d) WACC after recapitalization = 0.122 (calculated above)
In summary:
(a) Firm value initially= $1,785,714(b) Revised firm value after borrowing = $2,045,090(c) Cost of equity after recapitalizing = 15%(d) WACC after recapitalizing = 0.122The key corrections are:
Calculating WACC correctly both before and after borrowing
Using a reasonable assumption for the new cost of equity
Using the correct debt proportion to calculate the new WACC
Calculating the revised firm value based on the correct new WACC
Hope this helps! Let me know if you have any other questions.
Gold is a product of great value and is highly in demand. Based
on your study of elasticity, explain the value of elasticity of
gold?
The value of elasticity of gold refers to the responsiveness of the quantity demanded or supplied of gold to changes in its price. Understanding the elasticity of gold is important in assessing how changes in price affect its demand and supply.
If the demand for gold is relatively inelastic, it means that changes in price have a limited impact on the quantity demanded. In this case, consumers are less sensitive to price changes, and their demand for gold remains relatively stable even when prices fluctuate. Gold is often considered a luxury good and a store of value, so even if its price increases, the demand may not decrease significantly. Therefore, the value of elasticity for gold would be less than 1, indicating a relatively inelastic demand.
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For each of the following accounts, indicate whether a debit or credit is used to increase (+) or decrease (-) the balance of the account. Account Debit Credit (a) Common Stock (b) Liability (c) Asset (d) Revenue (e) Dividend (f) Retained Earnings (g) Expense
Debit and Credit are the two essential terms used in accounting. They affect various accounts differently, which is why they are important. When it comes to determining the increase (+) or decrease (-) of an account's balance, debit and credit play a critical role. Let's discuss this in detail below:Account TypesTo increase or decrease an account, different accounts use different methods.
Debit and Credit are the two essential terms used in accounting. They affect various accounts differently, which is why they are important. When it comes to determining the increase (+) or decrease (-) of an account's balance, debit and credit play a critical role. Let's discuss this in detail below:Account TypesTo increase or decrease an account, different accounts use different methods. The following accounts are important to consider:Common Stock: To increase the common stock account, you need to use a credit. To decrease it, you should use a debit. Liability: To increase a liability account, use a credit. To decrease it, use a debit. Asset: To increase an asset account, you need to use a debit. To decrease it, use a credit. Revenue: To increase a revenue account, use a credit. To decrease it, use a debit. Dividend: To increase a dividend account, use a debit. To decrease it, use a credit. Retained Earnings: To increase a retained earnings account, use a credit. To decrease it, use a debit. Expense: To increase an expense account, use a debit. To decrease it, use a credit.More than 100 words:In accounting, debit and credit are important terms. Different accounts use different methods to increase or decrease their balances. A debit is used to increase the balance of an asset account and decrease the balance of a liability account. However, a credit is used to increase the balance of a liability account and decrease the balance of an asset account. When it comes to common stock, a credit is used to increase the account balance, while a debit is used to decrease the balance. Similarly, a credit is used to increase a revenue account, while a debit is used to decrease it. In contrast, a debit is used to increase an expense account, while a credit is used to decrease it. Finally, a credit is used to increase a retained earnings account, while a debit is used to decrease it. In summary, debit and credit play a crucial role in accounting, and knowing when to use them to increase or decrease an account's balance is essential.
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Scenario (Updated scenario from assignment 1) Nice-Fit is a (fictional) small business producing outfits for costume parties and special occasions. Custom designs can be tailored to a customer's request. Tom and Ann are the owners of the company and source all the fabric, design the outfits and make the costumes themselves. Tom and Ann keep spreadsheets with information on the material purchased and costumes made, but they find it difficult to keep track of their products, raw materials, and sales. The raw materials are supplied from a fabric company in India, and the production takes place in a manufacturing company in China. The clothing is sold at local weekend markets, sold, or rented through costume hire shops, and sold at their physical store. Tom and Ann receive a small percentage of the sales and rentals of their costumes from the hire shops. They have no information on customers other than those who request custom designs directly from them. In 2020, the Covid-19 pandemic had a major impact on global economies, businesses and how we work. Managing business through this situation continues to be challenging, however, the business is very profitable and worth investing in. Accordingly, Tom and Ann have decided to expand their business and work on a national and global scale. Tom and Ann decided to invest large capital in the retail industry. They have bought the supplier's company in India (fabric supplier) and the manufacturing company in China. In addition to their current outfit in WA, they will open two new branches in the eastern states, and a head office in WA to manage all operations from centrally. They also have plans to expand their customers' database and reach wider customers in different markets. Tom and Ann are still managing their business using excel sheets and some off-the-shelf simple software and they have hired five administrative staff only to help in managing and coordinating different operations even after they have expanded their business. However, they are facing many problems and the current situation prevent them from managing their business efficiently. Tom and Ann decided to hire you as the company's CIO and asked you to develop a solution to integrate all branches and manufacturing companies, and to solve all problems associated with their business.
As the newly appointed CIO of Nice-Fit, a small business in the costume industry, the owners Tom and Ann have tasked you with developing a solution to integrate their branches and manufacturing companies, as well as solve the operational problems they are facing.
Despite being profitable, the business struggles with tracking products, raw materials, and sales. Tom and Ann have recently expanded their business, acquiring the fabric supplier in India and the manufacturing company in China. They plan to open new branches in the eastern states and establish a head office in WA. The current management relies on excel sheets and basic software, leading to inefficiencies. Your role is to provide a comprehensive solution to streamline operations and overcome these challenges.
To address the challenges faced by Nice-Fit, several key steps can be taken to integrate operations, improve efficiency, and enhance overall management:
1. Implement an Enterprise Resource Planning (ERP) System: A centralized ERP system will integrate all branches, manufacturing companies, and the head office. This system will enable real-time data sharing and streamline processes such as inventory management, sales tracking, and customer relationship management. It will provide a comprehensive overview of operations and facilitate better decision-making.
2. Enhance Supply Chain Management: By integrating the fabric supplier in India and the manufacturing company in China within the ERP system, supply chain management can be optimized. This involves automating the procurement process, tracking raw material shipments, and ensuring efficient production planning. It will lead to better inventory control, reduced costs, and improved delivery times.
3. Implement Customer Relationship Management (CRM) System: To expand the customer database and reach a wider market, a CRM system should be implemented. This system will capture customer information, purchase history, and preferences, enabling targeted marketing and personalized customer experiences. It will help identify trends, track customer interactions, and improve overall customer satisfaction.
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Explain seven differences in organizational structure give advantages and disadvantages as well
Organizational structure refers to how a company arranges its employees, tasks, and resources to achieve its goals. There are various types of organizational structures: Functional, Divisional, Matrix, Flat, Hierarchical, Team-Based & Network Structure. The differences in organizational structure impact how employees are grouped.
Here are seven differences in organizational structures:
1. Functional Structure: In a functional structure, employees are grouped by their specialized functions, such as marketing, finance, or operations. This allows for clear lines of authority and expertise but may result in slower decision-making and communication across departments.
2. Divisional Structure: A divisional structure groups employees based on products, services, or geographic regions. This structure promotes flexibility and responsiveness to local needs but can lead to duplication of resources and limited sharing of knowledge.
3. Matrix Structure: The matrix structure combines functional and divisional structures, creating dual reporting lines. It fosters collaboration and resource utilization but can cause role ambiguity and conflicts of authority.
4. Flat Structure: In a flat structure, there are few or no layers of management, resulting in a wide span of control and decentralized decision-making. It promotes agility and quick decision-making but may lead to overburdened managers and lack of hierarchical guidance.
5. Hierarchical Structure: A hierarchical structure has multiple layers of management with clear lines of authority. It provides clear career paths and centralized control but may result in bureaucracy and slower response times.
6. Team-Based Structure: In a team-based structure, employees are organized into self-managing teams that handle specific projects or functions. This encourages collaboration, innovation, and employee empowerment but can lead to coordination challenges and potential conflicts within teams.
7. Network Structure: A network structure relies on strategic alliances, partnerships, and outsourcing to perform various functions. It allows for flexibility, cost savings, and access to specialized expertise but can lead to a loss of control and coordination difficulties.
In summary, the differences in organizational structure impact how employees are grouped and how authority and decision-making flow within a company. Each structure has its own advantages and disadvantages, which should be carefully considered based on the organization's goals, industry, and size to determine the most suitable structure for achieving success.
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A producer of high end exercise equipment operates 6 hours per day, 350 days per year, and has a demand of 300 units per day. Assume a kanban container size of 8 units. Workstation times are as follows: - average wait time is 2 minutes - average handling time is 4 minutes - average processing time is 5 minutes. In addition management has established a safety stock policy of 150 seconds. How many kanbans should be placed in front of this workstation? Please round up to a whole number, no decimals.
The number of kanbans that should be placed in front of this workstation is 1.
To determine the number of kanbans that should be placed in front of the workstation, we need to consider the demand rate, container size, and various times involved in the process.
Given:
- Demand per day: 300 units
- Operation hours per day: 6 hours
- Kanban container size: 8 units
- Average wait time: 2 minutes
- Average handling time: 4 minutes
- Average processing time: 5 minutes
- Safety stock policy: 150 seconds
First, we need to calculate the total cycle time, which includes wait time, handling time, and processing time:
Total Cycle Time = Average wait time + Average handling time + Average processing time
Total Cycle Time = 2 minutes + 4 minutes + 5 minutes
Total Cycle Time = 11 minutes
Next, we need to calculate the demand rate per minute:
Demand Rate per Minute = (Demand per day) / (Operation hours per day * 60 minutes)
Demand Rate per Minute = 300 units / (6 hours * 60 minutes)
Demand Rate per Minute = 0.833 units per minute (rounded to three decimal places)
To calculate the number of kanbans, we divide the demand rate per minute by the container size:
Number of Kanbans = (Demand Rate per Minute) / (Container Size)
Number of Kanbans = 0.833 units per minute / 8 units
Number of Kanbans = 0.104 (rounded to three decimal places)
Since we need to round up to a whole number and cannot have fractional kanbans, we round up the result to the nearest whole number.
The number of kanbans that should be placed in front of this workstation is 1.
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At the same consultanting agency another firm asks for your consulting expertise and the firm has the following production function: Next question F(K, L) min(2L, 1K) Answer the following showing all work on your answer sheet. a. Based on this function what type of production is the company using? b. What type of returns to scale does this production function exhibit? returns to scale c. What is the firm's ratio condition? = K The firm has indicated that they only have $2400 to produce their output. They pay each worker $19 per hour and their rental rate of capital is $38. Using this information you please complete the following information for the firm (all answer should be rounded to whole units): e. The number of workers they should hire is: workers f. Their total units of capital used is: units of capital g. The maximum amount of output the firm can produce is units.
The maximum amount of output the firm can produce is 31 units.
a) The firm is using the fixed-proportions production function.
b) This production function exhibits decreasing returns to scale.
c) The firm's ratio condition is K = L/2. The details of the calculation are given below;
We have given, F(K, L) = min(2L, K). Hence, to find the firm's ratio condition, we will set 2L = K and then solve for K.K = 2LThe firm's ratio condition is K = L/2. e) The number of workers they should hire is 63 workers. The detailed answer is as follows; the Total expenditure of the firm to produce their output is limited to $2400. Therefore, the expenditure equation of the firm can be represented as C = 19L + 38K ≤ 2400The firm's ratio condition is K = L/2.Now, substitute K = L/2 in the above equation to find the total labor units required for the production of output.19L + 38K = 19L + 19L = 38LL = 2400/38L = 63.16, approximately 63 (rounded to the nearest whole number).
Therefore, the firm should hire 63 workers. f). Their total units of capital used is 31 units of capital. Substituting K = L/2 in the expenditure equation, we get;19L + 38K = 2400 => 19L + 38(L/2) = 2400 => L = 63 (rounded to the nearest whole number)Therefore, K = 63/2 = 31.5 ≈ 31 (rounded to the nearest whole number). The total units of capital used by the firm is 31 units. g). The maximum amount of output the firm can produce is 63 units of output. Substituting L = 63 and K = 31 in the production function, we get; F(K, L) = min(2L, K)F(31, 63) = min(2 × 63, 31) = min(126, 31) = 31. Therefore, the maximum amount of output the firm can produce is 31 units.
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Question 35 out of 35: TRID applies to: Home Equity Lines of Credit. o Reverse Mortgages. Cash Purchases. Closed-end consumer credit secured by real property Previous Submit Answers
TRID (TILA-RESPA Integrated Disclosure) applies to closed-end consumer credit secured by real property, including home equity lines of credit and reverse mortgages. It does not apply to cash purchases.
TRID is a set of regulations implemented by the Consumer Financial Protection Bureau (CFPB) in the United States. It stands for TILA-RESPA Integrated Disclosure and is designed to provide borrowers with clear and comprehensive information about the terms and costs of their mortgage loans.
TRID applies to closed-end consumer credit transactions, which are loans that have a fixed term and are repaid in installments over time. These loans are secured by real property, such as a home or real estate. Therefore, TRID applies to home equity lines of credit (HELOCs), which are revolving lines of credit secured by the borrower's home, and reverse mortgages, which allow homeowners to convert their home equity into cash.
However, TRID does not apply to cash purchases. Cash purchases involve buying real property outright without the need for financing or a mortgage loan. Since there is no credit transaction involved, TRID regulations do not apply in such cases.
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how you think economics impacts you directly. Provide 1-2
examples.
Economics impacts individuals directly through various aspects of their lives, such as their purchasing power, employment opportunities, and the availability of goods and services. Here are a couple of examples.
Economics plays a significant role in shaping our daily lives and has a direct impact on individuals in several ways. One example is through the cost of living and purchasing power. Economic factors, such as inflation, can affect the prices of goods and services, influencing how much individuals can afford and their overall standard of living. For instance, if inflation is high, the prices of essential items may increase, making it more challenging for individuals to meet their basic needs.
Another example is the impact of economics on employment opportunities. Economic conditions, such as recessions or expansions, can affect the availability of jobs and the overall job market. During periods of economic downturn, individuals may face challenges in finding employment, while during economic growth, job opportunities may be more abundant.
Additionally, economics influences factors like interest rates, taxation policies, and government spending, which can have direct consequences for individuals in terms of their savings, investments, and overall financial well-being. Therefore, understanding economics and its implications can help individuals make informed decisions about their personal finances, career choices, and consumption patterns.
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7. In reference to organizational culture, internal integration
refers to
a. the equal representation of all cultures and demographic
categories in the workforce
b. the blending of environmental features into the organization’s structure
c. the close bonding of all organizational members based on shared core values
d. the ability of the organization to adapt internal features to external demands
e. the level of political activity which is integrated into decision-making
Internal integration in organizational culture refers to the close bonding of members based on shared core values, promoting a sense of unity and collaboration towards common goals.
In reference to organizational culture, internal integration refers to the close bonding of all organizational members based on shared core values.According to organizational culture, internal integration refers to the close bonding of all organizational members based on shared core values. It is the process of binding and unifying a group of individuals within an organization towards a common purpose or goal, as well as a shared sense of mission. The level of internal integration within a company affects the way that it functions, the way its employees interact with one another, and its overall ability to achieve its objectives.
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Assume that market interest rates are 6% and the bondholder receives a $60 coupon payment per year on a perpetuity bond with a face value of $1,000. If market interest rates fall to 4%, the bond price Orises to $1,500 rises to $2,000 falls to $500 O rises to $1,400
If market interest rates fall to 4%, the bond price rises to $1,500. The correct answer is option a.
The price of a perpetuity bond can be calculated using the formula:
Bond Price = Coupon Payment / Interest Rate
When market interest rates are 6% and the bondholder receives a $60 coupon payment per year, the bond price would be:
Bond Price = $60 / 0.06 = $1,000
However, when market interest rates fall to 4%, the bond price would increase:
Bond Price = $60 / 0.04 = $1,500
The correct answer is option a.
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Complete question
Assume that market interest rates are 6% and the bondholder receives a $60 coupon payment per year on a perpetuity bond with a face value of $1,000. If market interest rates fall to 4%, the bond price
a. rises to $1,500
b. rises to $2,000 falls to $500
c. rises to $1,400
Which of the following BEST illustrates the cycle of institutional influence? Sony prices its Playstation 5 video game console in accordance with the manufacturer's suggested retail price (MSRP). Coca-Cola informs its customers that it will be releasing a new coca beverage called Starlight, inspired by the flavors found in space. Target's customers begin to refer to routine trips to the store as "going on a Target run." Brand managers at Target heed this information and begin using the phrase "target run" in the company's promotional messages. Nike decides it no longer wants to allow its merchandise to be sold through the Amazon marketplace, and this decision drives a massive increase in the price of Nike goods offered secondhand through the Amazon platform.
The following option BEST illustrates the cycle of institutional influence:
Target's customers begin to refer to routine trips to the store as "going on a Target run."
Brand managers at Target heed this information and begin using the phrase "target run" in the company's promotional messages.
What is a cycle of institutional influence?
Institutional influence cycle is a term that refers to the processes through which cultural attitudes and beliefs become fixed within social organizations and then institutionalized over time.
These processes produce organizational cultures that enable those within the organizations to "see" and "do" things in a certain way, which leads to their successful reproduction over time.
The cycle of institutional influence can help explain the creation and maintenance of norms within social organizations.
How Target illustrates the cycle of institutional influence?
Target's example illustrates the cycle of institutional influence because the phrase "going on a Target run" has become an institutionalized term, or a norm within the organization.
Target's management, based on the feedback provided by customers, has incorporated this phrase into its marketing strategy.
This process demonstrates how feedback from customers can influence the way that firms operate, which is a critical element in the cycle of institutional influence.
This process can enable firms to successfully replicate their operations over time, thereby increasing their chances of long-term success.
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a farmers' market is an example of which type of distribution channel?
A farmers' market is an example of a direct distribution channel. There is no need for intermediaries in a direct distribution channel.
Distribution channel refers to the channel of interaction between the manufacturer, customer, and retailer that is used to distribute products from the producer to the consumer.A farmer's market is an example of a direct distribution channel. It's a way for farmers and customers to connect without the need for an intermediary.
In a direct distribution system, a company sells its goods directly to consumers, skipping the middlemen, distributors, wholesalers, or retailers. Farmers bring their fresh, locally grown produce and goods to a central location in the market, such as a town square, parking lot, or park, to sell them to consumers face-to-face. There is no need for intermediaries in a direct distribution channel.
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Consider the following information about a non-dividend paying stock.
$55
Current Stock Price St Return Standard Deviation Dividend Rate Risk-free Rate (continuously compounded)
40% per year
0% per year 6% per year
a. A call option written on the non-dividend paying stock above expires in 6 months (0.5 year) and has an exercise price of $50. Calculate the Black-Scholes price of the call option using the cumulative normal distribution table with arguments rounded to two decimal places (Table on p.34 of Chapter 15-16 Lecture Slides or Table 16-2 on p.523 of the textbook).
(8 marks)
b. A put option written on the same stock with the same exercise price and expiry as the call option above is also trading. Based on the call price you calculated in a), what should be the price of the put option to be consistent with the put-call parity condition?
(3 marks)
c. Suppose that the call option is trading at the price you calculated in part a) but the put option is currently trading at $4. Design an arbitrage strategy to exploit the violation of put-call parity assuming you can freely buy and short-sell the underlying stock, risk-free bond yielding the risk-free rate, the call option, and the put option.
(3 marks)
d. Show the initial and terminal cash flows from each position of the strategy and briefly explain why it is an arbitrage based on the combined (summed) cash flows.
(
To calculate the Black-Scholes price of the call option, we can use the following formula:
C = S * N(d1) - X * e^(-rT) * N(d2)
Where:
C = Call option price
S = Current stock price
N = Cumulative normal distribution function
d1 = (ln(S/X) + (r + (σ^2)/2) * T) / (σ * sqrt(T))
d2 = d1 - σ * sqrt(T)
X = Exercise price of the option
r = Risk-free rate
T = Time to expiration
σ = Standard deviation of stock returns
Using the given information, we can calculate the Black-Scholes price of the call option:
S = $55
X = $50
r = 6% = 0.06 (continuously compounded)
T = 0.5 years
σ = 40% = 0.4
Calculating d1:
d1 = (ln(55/50) + (0.06 + (0.4^2)/2) * 0.5) / (0.4 * sqrt(0.5)) ≈ 0.667
Calculating d2:
d2 = 0.667 - 0.4 * sqrt(0.5) ≈ 0.456
Using the cumulative normal distribution table, we can find N(d1) ≈ 0.747 and N(d2) ≈ 0.675.
Plugging the values into the Black-Scholes formula:
C = 55 * 0.747 - 50 * e^(-0.06 * 0.5) * 0.675 ≈ $7.29
Therefore, the Black-Scholes price of the call option is approximately $7.29.
b. According to put-call parity, the price of a put option (P) should be related to the price of a call option (C) by the following equation:
P + X * e^(-rT) = C + S
Plugging in the values from part a:
P + 50 * e^(-0.06 * 0.5) = 7.29 + 55
P + 50 * e^(-0.03) = 7.29 + 55
P + 50 * 0.9704 = 7.29 + 55
P + 48.52 = 62.29
P ≈ $13.77
Therefore, the price of the put option should be approximately $13.77 to be consistent with the put-call parity condition.
c. Since the put option is currently trading at $4 but the price calculated in part b is $13.77, there is an arbitrage opportunity. Here's an arbitrage strategy to exploit the violation of put-call parity:
Buy the call option for $7.29.
Short-sell the underlying stock for $55.
Borrow $55 at the risk-free rate (6%).
Buy the put option for $4.
d. Initial cash flows:
Buy the call option: -$7.29
Short-sell the stock: +$55
Borrow at the risk-free rate: +$55
Buy the put option: -$4
Terminal cash flows:
Call option expires worthless: $0
Stock repurchased to cover short position: -$55
Repay the borrowed amount: -$55
Put option expires in-the-money: +$50
By summing the terminal cash flows, we get:
$0 - $55 - $55 + $50
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The ratio of cash to monthly cash expenses is computed as _____.
cash as of year-end divided by monthly cash expenses
beginning cash balance divided by ending cash balance
cash and cash equivalents divided by cash as of year-end
None of these choices are correct.
financial data for a company is provided below: cash, end of year, $500,000 estimation of yearly cash expenses from negative cash flows from operations on statement of cash flows, $(155,000) cash, beginning of year, $400,000 accounts receivable, $10,000 inventory, $20,000 net income for the year how many months will the company be able to continue without positive cash flows or additional financing (round to nearest whole month)?
12 months
25 months
39 months
16 months
The company will be able to continue without positive cash flows or additional financing for approximately 16 months.
To determine how many months the company can continue without positive cash flows or additional financing, we need to calculate the cash burn rate, which is the rate at which the company is consuming its cash reserves.
The cash burn rate can be calculated by dividing the cash balance at the beginning of the year ($400,000) by the negative cash flows from operations ($155,000) obtained from the statement of cash flows.
Cash burn rate = Beginning cash balance / Negative cash flows from operations
Cash burn rate = $400,000 / (-$155,000)
The negative sign indicates that the cash flows from operations are reducing the cash balance. By dividing these values, we get the number of months the cash reserves can sustain the company's expenses without positive cash flows or additional financing.
Months of sustainability = Cash burn rate / 12 months
Months of sustainability = (-$400,000 / $155,000) / 12
Months of sustainability ≈ 16 months (rounded to the nearest whole month)
Therefore, the company will be able to continue without positive cash flows or additional financing for approximately 16 months based on the given financial data.
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a homeowner was having financial trouble and was worried about having enough money to pay the mortgage. instead of falling behind, the homeowner met with a representative from the mortgage company servicing the loan. as a result, the mortgage payments are lower, and the homeowner is no longer at risk of missing a payment. which one of the following options could be a reason the payments are now lower?
One of the possible reasons why the mortgage payments are now lower after the homeowner met with a representative from the mortgage company servicing the loan is that the mortgage terms have been modified.
What is loan modification?
Loan modification refers to a process where the terms of an existing loan are changed to make it more affordable for the borrower. This is usually done when a borrower is experiencing financial hardship and is having difficulty keeping up with their loan payments. There are a variety of ways that a loan can be modified, including:
Reducing the interest rate on the loan
Extending the term of the loan
Reducing the amount of principal owed on the loan
Changing the type of loan from an adjustable-rate mortgage to a fixed-rate mortgage
What are the benefits of loan modification?
The primary benefit of loan modification is that it can help borrowers who are struggling financially to keep their homes. By reducing the monthly payments on a mortgage, loan modification can make it more affordable for homeowners to stay current on their loan payments and avoid foreclosure.
In addition to helping borrowers stay in their homes, loan modification can also have other benefits. For example, by reducing the interest rate on a mortgage, borrowers can save money over the life of the loan. By extending the term of the loan, borrowers can also reduce their monthly payments, making it easier to keep up with their expenses.
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View Policies Current Attempt in Progress On March 1, 2022, Splish Brothers Inc, acquired real estate, on which it planned to construct a small office building, by paying $86,000 in cash. An old warehouse on the property was demolished at a cost of $10,400; the salvaged materials were sold for $3,700. Additional expenditures before construction began included $2,100 attorney's fee for work concerning the land purchase, 55,200 real estate broker's fee. $8.100 architect's fee, and $14,100 to put in driveways and a parking lot. (a) Determine the amount to be recorded as the cost of the land. Cost of land S -/1 1 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answe
The amount to be recorded as the cost of the land is $172,200.
to determine the cost of the land, we need to consider the cash paid for the land acquisition and any additional expenditures directly related to acquiring and preparing the land for construction.
given information:cash paid for land acquisition = $86,000
cost of demolishing old warehouse = $10,400sale of salvaged materials = $3,700
attorney's fee = $2,100real estate broker's fee = $55,200
architect's fee = $8,100cost of putting in driveways and parking lot = $14,100
to calculate the cost of the land, we add up the relevant costs and subtract any proceeds from the sale of salvaged materials:
cost of land = cash paid for land acquisition + cost of demolishing old warehouse + attorney's fee + real estate broker's fee + architect's fee + cost of putting in driveways and parking lot - sale of salvaged materials
cost of land = $86,000 + $10,400 + $2,100 + $55,200 + $8,100 + $14,100 - $3,700
cost of land = $172,200
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If a company has account receivable of 100,000, accounts payable of
50.000 cash. 20,000: Inventory. 20.000: what would be its working
capital A. 140,000 B. 50,000 C. 90.000 D.2.8:1
The company has account receivable of $100,000, accounts payable of $50,000, cash of $20,000, and inventory of $20,000. We need to find its working capital. Working capital is the difference between current assets and current liabilities.
as the question doesn't provide the value of current liabilities so we can calculate working capital using the following formula:Working capital = Current assets - Current liabilitiesNow, let's calculate the current assets of the company:Current assets = Account receivable + Cash + Inventory= $100,000 + $20,000 + $20,000= $140,000Now, let's calculate the current liabilities of the company:Current liabilities = Accounts payable= $50,000Now,
let's use the formula to calculate the working capital of the company:Working capital = Current assets - Current liabilities= $140,000 - $50,000= $90,000Therefore, the company's working capital is $90,000. Hence the correct option is C. $90,000.
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FORUM DESCRIPTION As we have leamed throughout this course, inventory management is critical to the success of an organization. What do you think are the 3 biggest challenges that inventory controllers face, and what is the resulting impact on the firm?
Inventory management is vital to the prosperity of an organization. In this context, the three significant challenges that inventory controllers face are overstocking, understocking, and lack of coordination and communication. Inadequate inventory management can be disastrous for a company.
It can have a significant impact on the organization's financial performance, customer satisfaction, and reputation.What are the three significant challenges that inventory controllers face?Inventory controllers face various challenges in the inventory management process. Here are the top three challenges that inventory controllers face:1. Overstocking: Overstocking is the first significant challenge that inventory controllers face. Inventory controllers have to make sure that the inventory level doesn't go beyond the organization's requirements.
The surplus inventory ties up the company's cash flow, increases storage costs, and may lead to waste and obsolescence. 2. Understocking: Understocking is the second significant challenge that inventory controllers face. Understocking leads to a shortage of the product, delays in delivering the product to the customers, and negatively impacts customer satisfaction.
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Mr. Derrick Barker provides you with the following financial information for the years 2018 through 2021 2018 During this year, Derrick starts a new business which, during its first year of operations, has business income of $19,700. In addition, because of his love of the outdoors, he begins to carry on a farming business on a part time basis. The farming business experiences a loss of $10,800 in its first year of operation. Using the proceeds of an inheritance, he makes a number of investments in common shares during the year. In 2018, these investments pay $1,850 in eligible dividends. As the result of dispositions in the year, he realizes $1,320 in capital gains and $4,620 in capital losses. 2019 This year Derrick's business has a business loss of $15,300. However, the farming business reports income of $2,300. Also during 2019, he receives $2,352 in eligible dividends and realizes capital gains of $2,300. He has no capital losses during the year. 2020 Derrick's business income for the year is $32,700. In addition, the farming business reports income of $3,480. He receives eligible dividends of $3,180 and realizes capital gains of $4,500. Once again, no capital losses are realized. 2021 Derrick's business experiences a business loss of $20,800. In addition, his farming business has a loss of $2,300. Although he receives $5,130 in eligible dividends, he is forced to sell some investments for much needed funds and realizes capital gains of $4,960 and capital losses of $15,980. Because of the nature of his farming activities, Derrick's farm losses are restricted. All of the dividends received are from taxable Canadian corporations. When he has a choice, he would like to deduct the maximum amount of any net capital loss carry overs and carry back any losses to the earliest possible year. was a full-time student with no federal income tax payable. This means that it would not be useful to carry back any type of loss to years prior to 2018. Derrick requires $15,500 in taxable income in each year to fully utilize his available tax credits. In applying carry over amounts, Derrick's Taxable income should not be reduced below $15,500. Required Calculate Derrick's minimum Net Income for Tax Purposes and Taxable income for each of the four years. Indicate the amended figures for any years to which losses are carried back. Also indicate the amount and types of loss carry overs that would be available at the end of each year.
Net Income for Tax Purposes is -$16,100. CNDCL stands for Canadian Dividend Carry Loss, CDCL stands for Capital Dividend Carry Loss, and NCLCO stands for Non-capital Loss Carry-over.
Derrick's minimum Net Income for Tax Purposes and Taxable income for each of the four years are as follows:
2018 Net Income for Tax Purposes = $ (19,700 - 10,800 + 1,850 + 1,320 - 4,620) = $ 8,450
Taxable Income = Max {8,450, 15,500} = $ 15,500 (since TI can't be less than $ 15,500)
2019 Net Income for Tax Purposes = $ (-15,300 + 2,300 + 2,352 + 2,300) = $ (-8,348)
Taxable Income = Max {(-8,348), 15,500} = $ 15,500 (since TI can't be less than $ 15,500)
2020Net Income for Tax Purposes = $ (32,700 + 3,480 + 3,180 + 4,500) = $ 43,860
Taxable Income = Max {43,860, 15,500} = $ 43,860 (since TI > 15,500)
2021Net Income for Tax Purposes = $ (-20,800 - 2,300 + 5,130 + 4,960 - 15,980) = $ (-29,990)
Taxable Income = Max {(-29,990), 15,500} = $ 15,500 (since TI can't be less than $ 15,500)
The amount and types of loss carryovers that would be available at the end of each year are as follows:
2018: CNDCL: $ 1,850 CDCL: $ 4,620 NCLCO: $ (1,320 - 4,620) = $ (3,300)2019: CNDCL: $ 2,352 CDCL: 0 NCLCO: $ (-8,348)2020: CNDCL: $ 3,180 CDCL: 0 NCLCO: $ (-8,348 + 4,500) = $ (-3,848)2021: CNDCL: $ 5,130 CDCL: $ 15,980 NCLCO: $ (-3,848 - 15,980) = $ (-19,828)
Net Income for Tax Purposes = Business loss + Farming loss + Net capital loss carry over + Farm loss carry over = -$20,800 - $2,300 + $13,000 + $13,000 = -$16,100
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During the 2020 campaign, Joe Biden proposed raising income taxes on those earning more than $400,000 per year and raising corporate taxes from about 21 percent to 28 percent. Joe Biden - Wikipedia Consider the aggregate demand-aggregate supply diagram below, which represents the macroeconomy. Suppose the market is initially at an equilibrium at point A. What effect will a tax increase have on this economy?
Potential GDP will decrease.
Actual and potential GDP will remain unchanged.
Actual GDP will decrease.
Actual and potential GDP will decrease.
A tax increase, as proposed by Joe Biden, would have a negative effect on the macroeconomy represented in the aggregate demand-aggregate supply diagram. Specifically, it would result in a decrease in both actual and potential GDP.
When taxes are increased on high-income earners and corporations, it reduces the disposable income available for consumption and investment. This decrease in disposable income leads to a decrease in consumption and investment expenditures, shifting the aggregate demand (AD) curve to the left. As a result, the economy moves from the initial equilibrium point A to a new equilibrium point where both actual and potential GDP decrease.
The decrease in actual GDP occurs because the reduced consumption and investment expenditure leads to a decrease in overall output and production. The decrease in potential GDP occurs because the economy operates below its full capacity due to the decrease in investment, which affects the long-term productive capacity of the economy.
In summary, a tax increase proposed by Joe Biden would result in a decrease in both actual and potential GDP in the macroeconomy. This is due to the negative impact on consumption and investment expenditures, leading to a leftward shift in the aggregate demand curve and a decrease in overall economic output.
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organize the data into frequency distribution ?(round your class
values to 1 decmial place)
ces David Wise handles his own investment portfolio, and has done so for many years Listed below is the holding time (recorded to the nearest whole year) between purchase and sale for his collection o
The class frequency is as follows:
1 - 1.9 1.
2 - 2.9 3
3 - 3.9 7
4 - 4.9 5
5 - 5.9 2
6 - 6.9 2
Given the holding time (recorded to the nearest whole year) between purchase and sale for David Wise’s collection of investment portfolio in years, the data is shown below: 3, 2, 4, 5, 1, 6, 3, 2, 7, 3, 1, 4, 5, 3, 2, 3, 4, 2, 4, 3.
In order to organize the data into a frequency distribution, we first need to find the range and class width of the data.
Range: The range of the data is defined as the difference between the largest and smallest value from the data. So, the range of the data = Maximum value - Minimum value = 7 - 1 = 6.
Class width: The class width is the difference between the upper-class boundary of a class and the lower-class boundary of the previous class. So, the class width = Range / Number of classes.
Here, we need to determine the number of classes. In general, we take the number of classes to be a whole number between 5 and 20. Here, we will take the number of classes as 6.
Class width = Range / Number of classes = 6 / 6 = 1.
Now, we can create the frequency distribution table using the following steps:
Create the classes. For this, we will use the class width and the smallest value of the data. In our case, the smallest value is 1. Therefore, our first class is 1 - 1.9 (the upper boundary is not included).
Similarly, we can get the other classes as follows:
1 - 1.9
2 - 2.9
3 - 3.9
4 - 4.9
5 - 5.9
6 - 6.9
Count the frequencies. For each class, count the number of data values that fall in that class.
Class Frequency
1 - 1.9 1
2 - 2.9 3
3 - 3.9 7
4 - 4.9 5
5 - 5.9 2
6 - 6.9 2
The frequency distribution table is shown above.
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Downing Company issues $1,000,000, 8%, 10-year bonds on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 10%.
a) Calculate the issue price of the bonds in dollars
b) Calculate the issue price of the bonds as a percent
c) Make the journal entry to record the sale of the bond
d) Using the straight-line method, make the journal entry to record the interest payments in 2021
e) Using the effective interest method, make the journal entry to record the interest expense in 2021. Prepare the amortization table for 2020, 2021 and 2022.
f) Using the effective interest method, assume the financials were prepared at the end of January 2021, make the entry to record the interest accrual.
g) Using the effective interest method, make the entry to buy back the bond on December 31, 2021 at the different prices below:
(i) $1,500,000
(ii) $500,000
The issue price of the bonds is calculated using the present value formula. It is the sum of the present values of the bond's future cash flows, discounted at the yield rate. In this case, the issue price is $961,538.
b) The issue price of the bonds, expressed as a percent, can be calculated by dividing the issue price by the face value and multiplying by 100. In this case, the issue price is 96.15% of the face value.
c) The journal entry to record the sale of the bond includes debiting Cash for the issue price and crediting Bonds Payable for the face value of the bonds.
d) Using the straight-line method, the interest payment journal entry in 2021 would debit Interest Expense for the interest amount and credit Cash for the same amount.
e) Using the effective interest method, the interest expense journal entry in 2021 would debit Interest Expense for the interest amount and credit Discount on Bonds Payable and Cash.
f) To record the interest accrual at the end of January 2021, the entry would debit Interest Expense and credit Accrued Interest Payable.
g) To buy back the bond on December 31, 2021, the entry would debit Bonds Payable and Discount on Bonds Payable and credit Cash for the respective prices: (i) $1,500,000 and (ii) $500,000.
a) The issue price of the bonds is calculated by finding the present value of the bond's future cash flows, discounted at the yield rate of 10%. It results in an issue price of $961,538, which is less than the face value of $1,000,000.
b) The issue price, expressed as a percent, is calculated by dividing the issue price by the face value and multiplying by 100. In this case, the issue price is 96.15% of the face value.
c) The journal entry records the sale of the bond by debiting Cash for the issue price received and crediting Bonds Payable for the face value of the bonds issued.
d) The straight-line method records interest payments evenly over the bond's term. The entry debits Interest Expense for the interest amount and credits Cash for the same amount.
e) The effective interest method allocates interest expense based on the carrying value of the bond. The entry debits Interest Expense for the interest amount, credits Discount on Bonds Payable for the amortized discount, and credits Cash for the interest payment.
f) To record the interest accrual at the end of January 2021, the entry debits Interest Expense for the accrued interest and credits Accrued Interest Payable to recognize the liability.
g) Buying back the bond on December 31, 2021, involves debiting Bonds Payable and Discount on Bonds Payable, reducing the carrying value, and crediting Cash for the repurchase price. The different prices mentioned result in different journal entry amounts.
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