When implementing a help desk ticketing system, several aspects should be considered to ensure a successful implementation. Here are some key aspects to consider: Cost, User-Friendliness and Training, Customization and Scalability, Integration Capabilities, Reporting and Analytics, Security and Data Privacy, Mobile Accessibility, Change Management.
Cost: Evaluate the cost of implementing the help desk ticketing system, including the upfront investment, ongoing maintenance fees, and any additional costs associated with customization, integration, or support. Consider the budget available and the long-term value the system will bring to the organization. Support and Vendor Reputation, Collaboration and Communication,
User-Friendliness and Training: Assess the ease of use and user-friendliness of the ticketing system. Look for a system that is intuitive and requires minimal training for both agents and end-users. Consider the availability of training resources, documentation, and support from the vendor to ensure a smooth adoption of the system.
Customization and Scalability: Determine whether the ticketing system can be customized to align with your organization's specific workflows, processes, and branding. Additionally, consider the scalability of the system to accommodate the growing needs of your organization and the potential to integrate with other tools or systems.
Integration Capabilities: Evaluate the integration capabilities of the ticketing system with other existing systems, such as CRM, knowledge base, or monitoring tools. Seamless integration can streamline processes, enhance efficiency, and provide a holistic view of customer interactions.
Reporting and Analytics: Look for a ticketing system that offers robust reporting and analytics capabilities. This enables you to track key metrics, measure performance, identify trends, and make data-driven decisions to improve your support processes.
Security and Data Privacy: Ensure that the ticketing system complies with security standards and regulations to protect sensitive customer and organizational data. Evaluate the system's data encryption, access controls, and backup procedures to mitigate the risk of data breaches.
Support and Vendor Reputation: Consider the level of support provided by the vendor, including the availability of technical support, customer service, and regular updates or patches. Research the vendor's reputation, customer reviews, and track record to gauge their reliability and commitment to customer satisfaction.
Mobile Accessibility: In today's mobile-driven world, having a ticketing system that offers mobile accessibility through responsive web design or dedicated mobile apps can enhance the productivity and responsiveness of your support team.
Collaboration and Communication: Assess the collaboration and communication features of the ticketing system. Look for features like internal notes, knowledge base, and communication channels that facilitate effective collaboration among support agents and enable timely resolution of customer issues.
Change Management: Plan for effective change management to ensure a smooth transition to the new ticketing system. Communicate the benefits of the system to the stakeholders, involve them in the decision-making process, provide training and support, and address any concerns or resistance that may arise.
By considering these aspects when implementing a help desk ticketing system, organizations can make informed decisions and select a system that aligns with their requirements, enhances efficiency, and improves the overall support experience for both agents and customers.
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On Jan 1, 2020, Delone Company merged with Monsoon Company to form a new company named Montone Company. The company issued 900,000 shares to start the new business. On May 1, 2021, the company issued another 600,000 shares for cash. So the 1,500,000 shares were outstanding till the end of December 2021. In 2021, Montone issued RM 800,000 of 20-year, 8% convertible bonds at par on July 1, 2021. Each RM1,000 bond converts to 50 ordinary shares at any interest date. Although none of the bonds have been converted to date, the interest expense on the liability component of convertible bonds for 2021 was RM30,000. Montone company is preparing its annual report for the fiscal year ending December 31, 2021, and the net income after tax is RM 2,650,000 (The tax rate is 40%.).
REQUIRED
Determine the following for 2021.
a. The weighted-average number of shares outstanding.
1. Basic earnings per share.
2. Diluted earnings per share.
b. Calculate the following:
1. Basic earnings per share.
2. Diluted earnings per share.
a. 1. Basic earnings per share 0.157 RM/share. 2. Diluted earnings per share is 0.134 RM/share
a. The weighted-average number of shares outstanding:
Weighted-average number of shares outstanding is used in computing the earnings per share for companies with changes in their outstanding shares.
To calculate the weighted-average number of shares outstanding for Montone Company in 2021, you need to know how many shares of common stock the company had outstanding each day and for how long they were outstanding.
There are 2 parts to the weighted-average number of shares calculation.
The first part is to figure out the weighted-average number of outstanding shares in 2021 before the convertible bond is converted.
The second part is to determine the weighted-average number of shares that would have been issued if the convertible bonds were converted into common stock.
1. Basic earnings per share:
Basic EPS is calculated by dividing the net income (minus preferred stock dividends) by the weighted-average number of common shares outstanding during the period. Basic earnings per share formula can be written as:
Basic Earnings Per Share = (Net Income - Preferred Stock Dividends)/Weighted Average Common Shares Outstandings
So, Weighted-average number of shares outstanding = (900,000 shares × 12 months) + (1,500,000 shares × 8 months) = 16,800,000 shares
Thus, Basic earnings per share = (RM 2,650,000 – 0) / 16,800,000 = 0.157 RM/share
2. Diluted earnings per share:
Diluted EPS is similar to basic EPS, but the denominator is increased to include the number of additional shares of common stock that would have been outstanding if the dilutive securities were exercised or converted into common stock. The most common type of dilutive security is convertible debt.
The formula for diluted EPS is:
Diluted EPS = (Net Income - Preferred Stock Dividends)/(Weighted Average Common Shares Outstanding + Convertible Securities)
Weighted Average Common Shares Outstanding + Convertible Securities = Weighted Average Common Shares Outstanding + (Convertible Securities × Conversion Ratio × Time Factor) = (16,800,000) + (800,000 × 50 × 6/12) = 19,800,000 shares
Thus, Diluted earnings per share = (RM 2,650,000 – 0) / 19,800,000 = 0.134 RM/share
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Quantitative Analysis and Decision Making Assignment Students that took their classes in Kumasi
Quantitative data can be measured in one of four measurement scales:
- Nominal
Ordinal
Interval
Ratio
Identify two statistical test that can be used for each of these measurement scales and discuss how the statistical technique is utilised.
Sure! Here are two statistical tests commonly used for each of the four measurement scales: Nominal Scale, Chi-square test.Chi-square test: This test is used to determine if there is a significant association between two categorical variables.
It compares the observed frequencies in each category with the expected frequencies under the assumption of independence.McNemar's test: This test is specifically used when analyzing paired nominal data. It examines whether the proportions of agreement and disagreement between two variables are significantly different.Ordinal Scale:Mann-Whitney U test: Also known as the Wilcoxon rank-sum test, it compares the medians of two independent groups when the dependent variable is measured on an ordinal scale. It is a nonparametric test that does not assume normality.Spearman's rank correlation coefficient: This test assesses the strength and direction of the monotonic relationship between two ordinal variables. It calculates a correlation coefficient based on the ranks of the observations rather than the actual values.Interval Scale:t-test: This test is commonly used to compare the means of two independent groups when the dependent variable is measured on an interval scale. It assumes that the variable follows a normal distribution.Analysis of Variance (ANOVA): ANOVA is used when comparing the means of three or more independent groups. It assesses whether there are statistically significant differences among the group means.Ratio Scale:Pearson's correlation coefficient: This test measures the strength and direction of the linear relationship between two variables measured on a ratio scale. It quantifies the degree of association between the variables.Simple linear regression: This statistical technique is used to model the relationship between two variables, where one is considered the independent variable (predictor) and the other is the dependent variable. It helps in understanding the nature and strength of the linear relationship.These statistical tests are utilized to analyze data based on their measurement scale. They provide insights into relationships, differences, or associations between variables and help make informed decisions based on the data analysis. It is essential to choose the appropriate test based on the measurement scale and research objectives to ensure accurate and meaningful results.
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property owner has a 20-year mortgage that is worth $97,500 with
a 7.5% annual interest rate. What does the property owner pay in
mortgage payments every month?
The property owner pays approximately $487.27 in mortgage payments every month.
To calculate the monthly mortgage payment, we can use the formula for the monthly payment on an amortizing loan;
M = P × r × [tex](1+r)^{n}[/tex] / [tex](1+r)^{n-1}[/tex]
Where;
M = Monthly payment
P = Loan amount ($97,500)
r = Monthly interest rate (Annual interest rate / 12)
n = Total number of payments (20 years × 12 months)
Let's calculate the monthly mortgage payment;
r = 7.5% / 12 = 0.075 / 12 = 0.00625 (monthly interest rate)
n = 20 years × 12 months = 240 months (total number of payments)
M = $97,500 × 0.00625 × (1 + 0.00625)²⁴⁰ / (1 + 0.00625)²⁴⁰⁻¹
Calculating the values within the brackets first;
(1 + 0.00625)²⁴⁰ = 1.986384
Now, substituting the value back into the formula;
M = $97,500 × 0.00625 × 1.986384 / (1.986384 - 1)
Simplifying;
M = $487.27
Therefore, the property owner pays approximately $487.27 in mortgage payments every month.
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The preinduction physical examination given by the U.S. Army involves the following seven activities: These activities can be performed in any order, with two exceptions: Medical history must be taken first, and Exit medical evaluation is last. At present, there are three paramedics and two physicians on duty during each shift. Only physicians can perform exit evaluations and conduct psychological interviews. Other activities can be carried out by either physicians or paramedics. a. Develop a layout and balance the line. b. How many people can be processed per hour? c. Which activity accounts for the current bottleneck? d. What is the total idle time per cycle? e. If one more physician and one more paramedic can be placed on duty, how would you redraw the layotat? What is the new throughput?
A. With the limits or restrictions that are in place:
First, it's important to know your medical history."The final stage of medical assessment is called the 'exit medical evaluation' and can only be done by doctors. "What is the physical examinationBased on the constraints:
Medical history must be taken first.Exit medical evaluation is last and can only be performed by physicians.The design the layout as follows:
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Suppose your company has a building worth $320 million. Because it is located in a high-risk area for natural disasters, the probability of a total loss in any particular year is 1.2 percent. What is your company's expected loss per year on this building? (Enter your answer as a positive value in dollars, not millions of dollars, e.g., 1,234,567.) Expected loss
The expected loss per year on the building is $3,840,000.
The expected loss is calculated by multiplying the value of the building ($320 million) by the probability of a total loss in any particular year (1.2 percent or 0.012).
Calculation: $320,000,000 * 0.012 = $3,840,000
This means that, on average, the company can expect to lose approximately $3,840,000 each year due to the risk of natural disasters in the high-risk area where the building is located.
To calculate the expected loss per year, we need to multiply the value of the building ($320 million) by the probability of a total loss in any given year (1.2 percent or 0.012).
Probability can be thought of as the likelihood of an event occurring. In this case, it represents the probability of a total loss due to natural disasters in the high-risk area where the building is situated.
By multiplying the value of the building by the probability, we are effectively estimating the average amount the company can expect to lose each year due to the risk of natural disasters.
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Earnings per Share with Convertible Bonds On January 1, 2021, Houston Company issued, at par, 600 $1,000 6% bonds. Each bond is convertible into 10 shares of common stock. Houston's net income for 2021 was $800,000. The tax rate was 20%. Throughout 2021, 100,000 shares of $10 par common stock were outstanding. In addition, 1,000 shares of 5% $100 par cumulative preferred stock were outstanding. No preferred stock dividends were declared during 2021. None of the bonds were converted in 2021. Instructions: (a) Compute basic earnings per share for 2021. (b) Compute diluted earnings per share for 2021.
a) Basic Earnings Per Share for 2021Basic Earnings Per Share (EPS) is calculated by dividing the net income minus preferred dividends by the weighted-average number of shares of common stock outstanding during the period.Income available to common stockholders = Net Income – Preferred DividendsNo preferred dividends were paid; thus, income available to common stockholders equals net income.
Therefore, the income available to common shareholders was:Net Income = $800,000Weighted average common shares outstanding during 2021 = 100,000Basic earnings per share = Net income ÷ Weighted average common shares outstandingBasic earnings per share = $800,000 ÷ 100,000Basic earnings per share = $8.00.
b) Diluted Earnings Per Share for 2021Convertible bonds are potential shares and may dilute earnings per share. The diluted earnings per share calculation takes this possibility into account.Diluted earnings per share are computed by dividing net income less dividends on preferred stock by the weighted average of common shares outstanding plus the additional shares of common stock that would be outstanding if the convertible securities were converted.
Net Income = $800,000Weighted average common shares outstanding during 2021 = 100,000Number of shares that would be added by the conversion of the bonds = 600 bonds x 10 shares/bond = 6,000 sharesConversion of the bonds would result in an additional 6,000 shares. The weighted-average number of shares for diluted earnings per share would be 106,000.
In addition, $60,000 of interest on the bonds would be added back to net income because it is assumed that the bonds are converted, and the interest is no longer paid. Net Income + Interest on Bonds x (1 – Tax Rate) = $800,000 + $60,000 x (1 – 0.20) = $848,000Diluted Earnings Per Share = Net Income + Interest on Bonds x (1 – Tax Rate) ÷ Weighted Average of Common Shares Outstanding + Additional Shares Diluted Earnings Per Share = $848,000 ÷ 106,000 sharesDiluted earnings per share = $8.00.
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The Canine Gourmet Company produces delicious dog treats for canines with discriminating tastes. Management wants the box-filling line to be set so that the process average weight per packet is 43 grams. To make sure that the process is in control, an inspector at the end of the filling line periodically selects a random box of 8 packets and weighs each packet. When the process is in control, the range in the weight of each sample has averaged 7 grams. Click the icon to view the table of factors for calculating three-sigma limits for the x-chart and R-chart. a. Design an R- and an x-chart for this process. The UCLR equals grams and the LCLR equals grams. (Enter your response rounded to two decimal places) X More Info Factors for calculating three-sigma limits for the x-chart and R-chart Factor for LCL for R-Chart (D₂) 0 0 0 0 0 0.076 0.136 0.184 0.223 Size of Sample Factor for UCL and LCL (n) for x-chart (A₂) 2 1.880 1.023 0.729 0.577 0.483 0.419 0.373 0.337 0.308 3 4 5 6949. 7 8 10 Factor for UCL for R-Chart (D₂) 3.267 2.575 2.282 2.115 2.004 1.924 1.864 1.816 1.777
Therefore, the R-chart will have an UCLR of 14.03 grams and an LCLR of 0 grams, while the x-chart will have an UCLx of 47.04 grams and an LCLx of 38.96 grams.
How to calculate the valueFor the R-chart: Find the UCLR (Upper Control Limit for Range):
UCLR = D₂ * R-bar
Using the factor for UCL for R-Chart (D₂) corresponding to a sample size of 8 packets, which is 2.004:
UCLR = 2.004 * 7 grams = 14.028 grams (rounded to two decimal places)
Find the LCLR (Lower Control Limit for Range):
LCLR = 0 (since the lower limit for the range is always 0)
For the x-chart: Find the UCLx (Upper Control Limit for x-bar):
UCLx = x-bar + A₂ * R-bar
Using the factor for UCL and LCL (n) for the x-chart corresponding to a sample size of 8 packets, which is 0.577:
UCLx = 43 grams + (0.577 * 7 grams) = 47.039 grams
Find the LCLx (Lower Control Limit for x-bar):
LCLx = x-bar - A₂ * R-bar
LCLx = 43 grams - (0.577 * 7 grams)
= 38.961 grams
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A monopoly is considering selling several units of a homogeneous product as a single package. Analysts at your firm have determined that a typical consumer’s demand for the product is Qd = 70 − 0.5P, and the marginal cost of production is $90.
a. Determine the optimal number of units to put in a package.____ units
b. How much should the firm charge for this package? $____
A. The optimal number of units to put in a package are 20 units.
B. The firm should charge $2000 for this package.
a. To determine the optimal number of units to put in a package, we will equate the marginal cost (MC) to marginal revenue (MR) derived from the given demand equation. Let N be the number of units of the product put in a package.
MR = ΔTR/ΔQ = P(ΔQ/ΔQ) + Q(ΔP/ΔQ) = P + Q(-0.5) (since Qd = Q, and ΔQ/ΔQ = 1)
MR = P - 0.5Q
Total revenue (TR) from selling N units of the product is given by:
TR = P(N)(1) = PN
The marginal revenue derived from selling N units of the product is:
MR = ΔTR/ΔQ = P(N+1) - PN = P(N+1 - N) = P(1) = P
Marginal cost (MC) is given as $90.
We equate MR to MC:
P - 0.5Q = 90
P = 90 + 0.5Q
We substitute this into the demand equation to get Q in terms of P:
Q = 70 - 0.5P
We now substitute this into the expression we have obtained for P, and simplify:
P = 90 + 0.5(70 - 0.5P)
P = 125 - 0.25P
P = $125/1.25 = $100
Thus, the optimal number of units to put in a package is obtained by substituting P = $100 into the demand equation to get Q:
N = Qd = 70 - 0.5P
= 70 - 0.5($100)
= 70 - $50
= 20 units
Answer: 20 units
B. The optimal price for the package is given as $100, and the number of units in the package is given as 20. Therefore, the firm should charge:
Total revenue = Price * Quantity
= $100 * 20
= $2000
Thus, the firm should charge $2000 for this package.
Answer: $2000.
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MidCoast Airlines provides charter airplane services. In October, when the company is operating at 60% of its capacity, it receives a bid from the local college. The college is organizing a trip for a student group. The college budgeted only $30,000 for round-trip airfare. MidCoast Airlines normally charges between $50,000 and $60,000 for such service. MidCoast determines its total cost for the round-trip flight to Washington to be $45,000, which consists of the following.
Variable cost
Fixed cost
$ 25,000 20,000
Total cost
45,000
Although the manager at MidCoast supports the college's educational efforts, she is struggling to justify accepting only $30,000.
(a) What is the contribution margin from accepting the offer? (b) Should the airline accept the $30,000 offer from the college?
Complete this question by entering your answers in the tabs below.
Required A
Required B
What is the contribution margin from accepting the offer?
Revenue from trip
Variable costs of trip
Contribution margin
Required B
>
The contribution margin from accepting the offer is $5,000. The $30,000 offer may not be enough for MidCoast Airlines, but they should think carefully before accepting or rejecting it.
(a) The contribution margin is the difference between the selling price and the variable costs. In this case, the selling price is $30,000, and the variable cost is $25,000.
Contribution margin = Selling price - Variable cost
Contribution margin = $30,000 - $25,000
Contribution margin = $5,000
Therefore, the contribution margin from accepting the offer is $5,000.
(b) Whether the airline should accept the $30,000 offer from the college depends on various factors and considerations.
If the contribution margin of $5,000 is sufficient to cover the fixed costs associated with the flight, then accepting the offer would still contribute towards covering the overall costs of the company. However, it's important to assess the impact of accepting the lower price on the company's profitability and financial sustainability.
Additionally, other factors to consider include the potential for future business with the college, the company's current capacity utilization, and any potential negative implications on the company's reputation or relationships with other customers.
Ultimately, the decision should be based on a thorough analysis of the company's financial situation, long-term goals, and the potential benefits and drawbacks of accepting the lower offer.
In conclusion, while the $30,000 offer may not fully cover the costs and desired profit margin for MidCoast Airlines, the decision to accept or reject the offer should be carefully evaluated, considering both financial and non-financial factors to make an informed decision that aligns with the company's overall objectives and strategic direction.
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Answer saved Marked out of 2.00 Flag question One of the organization criteria is adaptability, which means:- O a. Flexibility O b. Adopt to change O c. A&B O d. None of these
Adaptability is an organizational criteria which means flexibility and the ability to adopt to change. Therefore, the answer is option(c), which include both flexibility and adopt to change. It is company's ability to manage and react to changes.
Adaptability refers to the ability to adjust to new situations or changes. This is the most significant feature that determines the success of a business or an individual in today's highly competitive environment. Adaptability is one of the most critical organizational criteria for business success. It is the ability to change or adjust quickly to meet the changing needs of the business, markets, or the environment. The term adaptability refers to a company's ability to manage and react to changes in the internal and external environment. A company's adaptability determines its ability to achieve long-term success, sustainability, and profitability. So, it is essential to understand the importance of adaptability in a business. Therefore, the correct option is both flexibility and adopt to change.
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In North America, although sport teams have monopoly power, but they do not profit maximize.
Outline reasons why they do not profit maximize on their ticket sales. Provide 5 bullet
points.
Here are five reasons why North American sports teams may not profit maximize on their ticket sales: Fan loyalty, Long-term contracts, Revenue sharing, Stadium financing, Luxury boxes:,
Fan loyalty: North American sports teams have a large and dedicated fan base, which means that they can sell tickets at a premium even if the price is higher than what would maximize profit. Fans are often willing to pay more for tickets to support their team, and raising prices too high could damage the team's relationship with its fans.
Long-term contracts: Many North American sports teams sign long-term contracts with players and coaches, which creates uncertainty about future costs. This uncertainty makes it difficult to set prices at a level that would maximize profit, as the team cannot accurately predict how much revenue it will need to cover future expenses.
Revenue sharing: North American sports leagues have revenue sharing agreements, where teams pool their revenues and then distribute them evenly among all teams. This system reduces the incentive for individual teams to maximize their own profits, as they do not receive all of the financial benefits of doing so.
Stadium financing: Many North American sports teams finance the construction of their stadiums through public funding or tax breaks. This can create pressure from the public to keep ticket prices low, as taxpayers may feel that they have invested in the stadium and deserve affordable access to games.
Luxury boxes: Many North American sports teams earn significant revenue from luxury boxes, which are premium seating areas that offer exclusive amenities like food and drink service. Because luxury box customers are often corporations or wealthy individuals, the teams may feel that they can charge higher prices without alienating their core fan base. This can lead to pricing strategies that focus on maximizing revenue from luxury boxes rather than optimizing ticket sales more broadly.
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Volkswagen developed an 18-month-long project to gain a better understanding of the North American culture so it could develop cars more appealing to this market. The project was called Moonraker and became even more important to Volkswagon as it attempted to rebound from the PR nightmare of the emissions scandal and intensified competition in the North American car market.
Question 1 What kind of data should the company gather initially?
Question 1 options:
a. Secondary Data
b. Primary Data
c. Cohesive Data
d. Exploratory Data
Volkswagen developed a project called Moonraker to gain a better understanding of the North American culture so that it could develop cars more appealing to this market. The project aimed at providing Volkswagen with information on what exactly the North Americans expected from their cars.
Volkswagen wanted to ensure it didn't make the same mistake it had made before. Therefore, it was essential for the company to gather specific data before developing cars for the North American market. Initially, Volkswagen needed to gather data to understand the North American culture and develop cars that would appeal to this market. The company needed to collect relevant information on the North Americans’ interests, needs, and preferences concerning their cars. To gather this information, Volkswagen needed to collect primary data, which refers to data collected from first-hand sources through observation, surveys, and interviews.
In conclusion, Volkswagen should gather primary data in Moonraker project to get relevant and accurate information on North Americans’ interests, needs, and preferences concerning their cars. By doing so, Volkswagen would develop cars that would appeal to the North American market.
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The following information related with the transactions of P.
Hewitt in his first month of trading of his new business set up in
Brampton.
2022 March
1 Started business with cash $50,000. 5 Purchase
P. Hewitt's net profit for March is $5,000.
P. Hewitt set up a new business in Brampton in March 2022. The transactions in his first month of trading are as follows:
March 1 - Started business with cash $50,000.
March 5 - Purchased merchandise for cash, $8,000.
March 9 - Purchased merchandise on credit from J. Smith, $7,500.
March 11 - Sold merchandise for cash, $10,000.
March 15 - Paid rent for March, $2,500.
March 17 - Purchased merchandise for cash, $5,000.
March 21 - Purchased equipment on credit from B. Brown, $12,000.
March 23 - Paid J. Smith on account, $5,000.
March 28 - Sold merchandise on credit to C. JKnow more about here,ohnson, $9,000.
March 30 - Received cash from the sale of March 28, $4,500.
Total cash sales = $10,000 + $9,000 = $19,0002. Total credit sales = $9,0003. Total sales = $19,000 + $9,000 = $28,0004. Cost of goods sold = $8,000 + $7,500 + $5,000 = $20,5005. Gross profit = $28,000 - $20,500 = $7,5006. Rent expense = $2,5007. Net profit = $7,500 - $2,500 = $5,000
Thus, P. Hewitt's net profit for March is $5,000.
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There are many things that you need to look for while cleaning your data. The most important one is ?
None of the answers are correct
Review data for relevancy
Eliminate any duplicate observations
Ensure that the data is accurate
Ensuring data accuracy is the most critical thing to look for while cleaning your data.
While cleaning your data, the most important thing to look for is to ensure that the data is accurate. Cleaning data is an essential aspect of data analysis, especially when dealing with big data. Cleaning data is the process of identifying and correcting or removing errors, inconsistencies, and inaccuracies from a data set. It's critical to ensure that the data is accurate because the accuracy of the data is the foundation upon which the entire analysis rests.
It is important to note that, while ensuring the accuracy of the data, there are other things to look for while cleaning your data, such as removing any duplicate observations, reviewing data for relevancy, and eliminating any inconsistencies, just to name a few. However, the most important thing is to ensure that the data is accurate since data accuracy is crucial in data analysis. A good practice is to perform data cleaning at the beginning of the analysis process before running any models, as doing so can help reduce the risk of errors and ensure the accuracy of your analysis.In summary, ensuring data accuracy is the most critical thing to look for while cleaning your data.
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An investment will pay $50 at the end of each of the next 3 years, $200 at the end of Year 4,$350 at the end of Year 5 , and $500 at the end of Year 6. If other investments of equal risk earn 7% annually, what is its present value? Its future value? Do not round intermediate calculations. Round your answers to the nearest cent. Present value: $ Future value: \$
The present value of the investment is $641.85. The future value of the investment is $1,393.90. To calculate the present value, we can use the following formula:
Code snippet
Present value = Sum of (future cash flow / (1 + interest rate)^n)
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where:
Present value is the current worth of a future sum of money
Future cash flow is the amount of money to be received in the future
Interest rate is the rate of return on an investment
n is the number of years in the future
In this case, the future cash flows are:
$50 at the end of each of the next 3 years
$200 at the end of Year 4
$350 at the end of Year 5
$500 at the end of Year 6
The interest rate is 7%.
The number of years in the future is:
3 years for the first set of cash flows
1 year for the second set of cash flows
1 year for the third set of cash flows
1 year for the fourth set of cash flows
Present value = $50 / (1 + 0.07)^3 + $50 / (1 + 0.07)^2 + $50 / (1 + 0.07)^1 + $200 / (1 + 0.07)^4 + $350 / (1 + 0.07)^5 + $500 / (1 + 0.07)^6
Code snippet
= $641.85
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To calculate the future value, we can use the following formula:
Code snippet
Future value = Present value * (1 + interest rate)^n
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In ths case, the present value is $641.85.
The interest rate is 7%.
The number of years in the future is 6 years.
Code snippet
Future value = $641.85 * (1 + 0.07)^6
Use code with caution.
= $1,393.90
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All of the current year's entries for Zimmerman Company have been made, except the following adjusting entries. The company's annual accounting year ends on December 31
On September 1 of the current year, Zimmerman collected six months' rent of $7,980 on storage space. At that date, Zimmerman debited Cash and credited Unearned Rent Revenue for $7,980.
On October 1 of the current year, the company borrowed $15,600 from a local bank and signed a one-year, 13 percent note for that amount. The principal and interest are payable on the maturity date.
Depreciation of $2,400 must be recognized on a service truck purchased in July of the current year at a cost of $23,000.
Cash of $4,200 was collected on November of the current year, for services to be rendered evenly over the next year beginning on November 1 of the current year. Unearned Service Revenue was credited when the cash was received.
On November 1 of the current year, Zimmerman paid a one-year premium for property insurance, $8,160, for coverage starting on that date. Cash was credited and Prepaid Insurance was debited for this amount.
The company earned service revenue of $4,200 on a special job that was completed December 29 of the current year. Collection will be made during January of the next year. No entry has been recorded.
At December 31 of the current year, wages earned by employees totaled $14,100. The employees will be paid on the next payroll date in January of the next year.
On December 31 of the current year, the company estimated it owed $490 for this year's property taxes on land. The tax will be paid when the bill is received in January of next year
Zimmerman Company needs to make adjusting entries for the following transactions: recognizing rent revenue, accruing interest expense on the note payable, recording depreciation expense on the service truck, recognizing service revenue for the completed job, and accruing property tax expense.
Zimmerman Company needs to make several adjusting entries to accurately reflect the financial position and results of operations for the current year. Firstly, the unearned rent revenue of $7,980 collected on September 1 needs to be recognized as rent revenue for the portion of the period that has elapsed. This adjustment will increase the company's revenue and decrease the liability.
Secondly, the one-year, 13% note payable borrowed on October 1 requires an adjustment to accrue interest expense for the portion of the year that has passed. This adjustment will increase the interest expense and create a corresponding liability.
Thirdly, the service truck purchased in July needs to be depreciated over its useful life. Since the current year has passed, $2,400 of depreciation expense should be recognized. This adjustment will decrease the company's net income and accumulate the depreciation expense.
Additionally, the service revenue of $4,200 earned on the completed job in December needs to be recognized even though collection will occur in the next year. This adjustment will increase the company's revenue and create a corresponding accounts receivable.
Lastly, the estimated property tax expense of $490 for the current year's taxes on land needs to be accrued. This adjustment will increase the company's expense and create a corresponding liability.
By making these adjusting entries, Zimmerman Company ensures that its financial statements accurately reflect the revenues, expenses, and liabilities related to these transactions, providing a more accurate representation of its financial performance and position.
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Unethical accounting practices enabled companies like Enron to bilk investors out of huge sums of money. In response, Congress passed the Sarbones-Oxley Act of 2002 to authorize the Securities and Exchange Commission to explore reforms to rules based accounting systems. While debate continues about the best approach to accounting standards more than a decade later, accountants generally support a trend toward incorporating principles-based accounting into accounting standards for businesses. Required: State the pros and cons of each approach through explaining the meaning and rational beyond each of them by using Enron case study to contextualise this debate, through highlighting the impact of the qualitative characteristics of accounting information.
The accounting standards debate revolves around two main approaches: rules-based accounting and principles-based accounting.
1. Rules-based accounting:
Meaning: Rules-based accounting involves a detailed set of specific guidelines and regulations that dictate how financial transactions should be recorded and reported. It provides clear and explicit rules for accountants to follow. Rational: The intention behind rules-based accounting is to ensure consistency and uniformity in financial reporting, making it easier for different companies to compare their financial statements. It provides a clear framework and leaves less room for interpretation or manipulation.- Enron case study: Enron exploited loopholes within the rules-based accounting system, using complex special purpose entities to hide debt and inflate profits. They followed the letter of the rules but violated the spirit of transparency and accuracy.
Impact of qualitative characteristics: Rules-based accounting can sometimes prioritize compliance over the qualitative characteristics of accounting information, such as relevance and faithful representation. It may lead to a focus on meeting technical requirements rather than providing meaningful information to users. 2. Principles-based accounting: Meaning: Principles-based accounting relies on a set of broad principles and concepts that guide the preparation of financial statements. It focuses on the underlying substance of transactions and allows for professional judgment in interpreting and applying the principles.
Rational: The rationale behind principles-based accounting is to promote transparency, flexibility, and professional judgment. It aims to capture the economic reality of transactions and provide a more accurate and meaningful representation of financial information.- Enron case study: Enron's manipulation of financial statements could have been prevented or detected earlier if principles-based accounting had been in place. A principles-based approach would have required a deeper analysis of the underlying substance of their transactions, rather than simply following the rules.-
Impact of qualitative characteristics: Principles-based accounting places a greater emphasis on the qualitative characteristics of accounting information, such as relevance and faithful representation. It allows for more flexibility and professional judgment in capturing the economic substance of transactions. However, the interpretation of principles can sometimes be subjective and may lead to inconsistencies in financial reporting.
In summary, rules-based accounting provides specific guidelines and regulations, ensuring consistency but potentially sacrificing the qualitative characteristics of accounting information. On the other hand, principles-based accounting promotes transparency and flexibility, allowing for professional judgment but potentially leading to subjective interpretations. The Enron case study highlights the limitations of rules-based accounting and the need for principles-based accounting to capture the economic reality of transactions and provide meaningful information to users.
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How would you plan to mitigate the issues of labour shortages in the global supply chain?
The issues of labor shortages in the global supply chain can be mitigated by automation, education and training, immigration, and increasing wages and benefits. A combination of these strategies can be used to ensure that the supply chain industry has the necessary workforce to continue operating efficiently.
The global supply chain is facing a labor shortage crisis due to the impact of COVID-19, which has led to widespread restrictions and lockdowns in many countries. This has resulted in reduced production, which is severely affecting the supply chain. In this context, the following are some ways to mitigate the issues of labor shortages in the global supply chain.
1. Automation
Automation can be a solution to the labor shortage problem. Automation can be used to supplement the workforce and increase productivity. There are many ways automation can be implemented, such as robotic process automation (RPA), machine learning, and artificial intelligence (AI).
2. Education and Training
Training and education can be a solution to the labor shortage problem. In many countries, the education system is not producing enough skilled labor. This gap can be bridged by introducing specialized courses and training programs that cater to the specific needs of the industry.
3. Immigration
Immigration can be a solution to the labor shortage problem. Many countries are experiencing a shortage of skilled labor, and immigration can be used to fill the gap. Governments can create favorable policies to attract skilled labor from other countries.
4. Increase wages and benefits
Increasing wages and benefits can be a solution to the labor shortage problem. Many workers are reluctant to work in the supply chain industry because of low wages and poor working conditions. By increasing wages and benefits, the supply chain industry can attract more workers.
Conclusion
In conclusion, the issues of labor shortages in the global supply chain can be mitigated by automation, education and training, immigration, and increasing wages and benefits. A combination of these strategies can be used to ensure that the supply chain industry has the necessary workforce to continue operating efficiently.
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Gabriel opened an RRSP deposit account on December 1, 2008, with a deposit of $1700. He added $1700 on December 1, 2010, and $1700 on February 1, 2012. How much is in his account on March 1, 2016, if the deposit earns 7.2% p.a. compounded monthly?
The amount in the account is $____
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
The amount in Gabriel's RRSP deposit account on March 1, 2016, is approximately $3,599.94.To calculate the amount in Gabriel's RRSP deposit account on March 1, 2016, we can use the formula for compound interest:
Amount = Principal × [tex](1 + Interest Rate/Number of Compounding Periods)^(Number of Compounding Periods × Number of Years)[/tex]
Given information: Principal (P) = $1,700 (initial deposit), Interest Rate (r) = 7.2% per annum (expressed as a decimal, 0.072), Number of Compounding Periods per Year (n) = 12 (since it's compounded monthly), Number of Years (t):
From December 1, 2008, to March 1, 2016, there are: 7 years from 2008 to 2015, 2 months from December 1, 2015, to February 1, 2016, 1 month from February 1, 2016, to March 1, 2016,
Total Number of Years (t) = 7 + (2/12) + (1/12) is 7.25 years.
Now, let's calculate the amount in the account: Amount = [tex]$1,700 × (1 + 0.072/12)^(12 × 7.25)[/tex]
Calculating the exponent first: [tex](1 + 0.072/12)^(12 * 7.25)[/tex]is 1.006^(87)
Now, we can calculate the amount:
Amount = [tex]$1,700 × 1.006^(87)[/tex] is $3,599.94
Therefore, the amount in Gabriel's RRSP deposit account on March 1, 2016, is approximately $3,599.94.
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The Nederlander Producing Company has expanded to China through a strategic partnership with the China Arts and Entertainment Group (CAEG). It is hoping to open a production of Ghost, based on the movie of the same name. Nederlander has been forced to cut one song from the show due to censorship imposed by the nation's government. This is an example of legal and political climate considerations an economic challenge social and cultural barriers an embargo
Answer: embargo
Explanation:why
1 What is the slope of the budget line indicate? Is is +/-? Is it constant? What is the interpretation of each of these answers? 4 pts 2. What is the slope of the PP curve indicate? Is it +/-?. Is it
1. The slope of the budget line indicates the rate at which one good can be exchanged for another in a consumer's budget constraint.
Depending on the items under consideration, the slope may be positive or negative.
Assuming that the cost of the items and the consumer's income remain constant, the budget line's slope is constant.
2. The slope of the Production Possibility (PP) curve indicates the opportunity cost of producing one good in terms of the other.
Depending on how the curve is specifically interpreted, it could be positive or negative.
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A recent Los Angeles Times article described multiple ethical lapses at the paper. Specifically, the article documented sexism, racism, sexual harassment, plagiarism, and conflicts of interest among staff, reporters, editors and top managers.
What would your textbook suggest as the first and most important task of top managers to fix these problems?
a. Management should post ethical rules on its webpage.
b. Management should demonstrate support for ethical standards.
c. Management should offer ethical training to employees.
d. Management should pay cash rewards to whistle-blowers.
e. Management should issue a statement about valuing diversity.
The textbook suggests that the first and most important task of top managers to fix the ethical lapses described in the article is to demonstrate support for ethical standards, which is option B.
Explanation:Ethical lapses are the failure of staff, reporters, editors, and top managers of a firm to conduct themselves in accordance with expected professional standards of conduct.The L.A. Times article describes multiple ethical lapses at the paper, which include racism, sexism, sexual harassment, plagiarism, and conflicts of interest among staff, reporters, editors, and top managers.
They should investigate all complaints of unethical behavior and take appropriate action against employees who violate the company's code of ethics. Finally, managers should lead by example, demonstrating ethical behavior in their own actions and decisions. This sends a message to employees that ethical conduct is not only expected but also rewarded.
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Dr. Tonia Collins-Smith wants to expand the school by starting a new degree program. She has (3pts) to provide an overview of why this new degree program is needed. No one is aware of her idea, but her. What kind of report should she use? Should she use the direct or indirect strategy? Is the report analytical or informational?
Dr. Tonia Collins-Smith should use an informational report to provide an overview of why the new degree program is needed. Since no one is aware of her idea, an informational report will serve as a means to introduce and inform the readers about the proposal.
In terms of the report strategy, she should use the indirect strategy. The indirect strategy involves starting with background information, followed by supporting evidence, and concluding with the main idea or proposal. This approach helps to build a logical and case by gradually leading the readers towards the main point. In this case, Dr. Collins-Smith should present the reasons for the new degree program in a structured and coherent manner to convince the readers of its importance and feasibility.
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Derrick is selling bathing soap. He expects to sell 50,000 bathing soap this year. Derrick purchases the bathing soap for $0.50 each from its supplier. Every order that is placed costs $10.00 to process. Derrick estimates his company's inventory holding cost to be 10% of the purchase price. Derrick's business operates 365 business days per year. The lead time between when an order is placed with the supplier and when it is received is 10 days. (a) (b) (d) (e) (f) CT - CnQo + CD + = 2 Qo + PD where Qo = What is Economic Order Quantity (EOQ)? 2C D Ch Calculate the Annual Ordering Cost (AOC), Annual Holding Cost (AHC) and Total Annual Cost (TAC). Calculate the daily demand and re-order point. What does this re-order point mean to you? What are the advantages of ethical behaviour that make the business sustainable? How does Derrick establish Order Qualifier and Order Winner? How does Derrick derive the decision-making process strategy that comes from internal environments?
To calculate the values required for the given questions, we will use the following formulas:
EOQ (Economic Order Quantity):
EOQ = √[(2 * C * D) / Ch]
Where C is the cost per order, D is the annual demand, and Ch is the annual holding cost per unit.
Annual Ordering Cost (AOC):
AOC = (D / EOQ) * C
Annual Holding Cost (AHC):
AHC = (EOQ / 2) * Ch
Total Annual Cost (TAC):
TAC = AOC + AHC
Daily Demand:
Daily Demand = D / 365
Re-Order Point:
Re-Order Point = Lead Time * Daily Demand
Advantages of ethical behavior that make the business sustainable include building trust and credibility with customers, attracting and retaining loyal customers, enhancing the company's reputation, fostering positive relationships with stakeholders, complying with legal and regulatory requirements, and promoting long-term business growth and sustainability.
Order Qualifier and Order Winner are established by identifying the key factors that customers consider when making a purchasing decision. Order Qualifiers are minimum criteria that a product or service must meet to be considered by customers. Order Winners are the unique features or characteristics that give a company a competitive advantage and make customers choose their product over competitors.
The decision-making process strategy that comes from internal environments is derived by analyzing internal factors such as organizational goals, resources, capabilities, and strengths. It involves aligning business strategies with the company's internal capabilities and resources to make informed decisions and achieve competitive advantage.
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You are required to prepare a presentation using Infographic summarsing for MFRS9 Financial Instrument, Presentation.
The content that you can include in your infographic summarizing MFRS 9 Financial Instruments presentation is Introduction, Key Objectives of MFRS 9, Classification and Measurement, etc.
Here's a suggested outline:
Title: MFRS 9 Financial Instruments
Introduction
Briefly explain the purpose of MFRS 9 and its significance in financial reporting.
Key Objectives of MFRS 9
Highlight the main goals of MFRS 9, such as improving the classification and measurement of financial instruments, introducing an expected credit loss model, and enhancing hedge accounting.
Classification and Measurement
Summarize the three main categories for financial instruments: financial assets, financial liabilities, and equity instruments.
Explain the criteria for classification and measurement, including the concepts of amortized cost, fair value through profit or loss, and fair value through other comprehensive income.
Expected Credit Loss Model
Illustrate the shift from an incurred loss model to an expected credit loss model.
Explain the three stages of credit impairment: Stage 1 (12-month ECL), Stage 2 (lifetime ECL), and Stage 3 (credit-impaired).
Highlight the requirements for recognizing and measuring impairment losses.
Hedge Accounting
Provide an overview of hedge accounting and its purpose.
Discuss the criteria for hedge effectiveness and documentation requirements.
Mention the different hedge accounting models available under MFRS 9.
Disclosure Requirements
Outline the disclosure requirements under MFRS 9, including qualitative and quantitative information about financial instruments.
Emphasize the importance of providing transparent and relevant information to users of financial statements.
Impact on Financial Institutions
Discuss the potential impact of MFRS 9 on financial institutions, such as banks, insurance companies, and investment firms.
Highlight the challenges and benefits of implementing MFRS 9 in these organizations.
Conclusion
Summarize the key points covered in the presentation.
Encourage further exploration and understanding of MFRS 9 and its implications.
Remember to use visually appealing graphics, charts, and icons to enhance the visual appeal and clarity of your infographic presentation.
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What are the four standard financial reports and what is the purpose of each?
2. What is the difference between depreciation and amortization (and depletion) and CCA?
3. What is Free Cash Flow and why is it important?
Please explain in your own words, thank you.
1. The four standard financial reports are the income statement, balance sheet, statement of cash flows, and statement of changes in equity.
The purpose of each is as follows:
- Income statement: It provides a direct answer in two lines an overview of a company's revenues, expenses, and net income for a specific period of time.
- Balance sheet: It presents a snapshot of a company's assets, liabilities, and shareholder's equity at a specific point in time.
- Statement of cash flows: It shows the inflows and outflows of cash from a company's operating, investing, and financing activities over a specific period of time.
- Statement of changes in equity: It explains the changes in a company's shareholders' equity, including the impact of net income, dividends, and other transactions.
2. Depreciation, amortization, depletion, and CCA (capital cost allowance) are all methods used to allocate the cost of assets over their useful lives. The main difference is the type of asset they are applied to:
- Depreciation is used for tangible assets, such as buildings and machinery.
- Amortization is used for intangible assets, such as patents and copyrights.
- Depletion is used for natural resources, such as oil and gas reserves.
- CCA is a Canadian tax concept that allows businesses to deduct the cost of certain assets over time for tax purposes.
3. Free Cash Flow (FCF) is the amount of cash generated by a company's operations that is available to be distributed to investors, reinvested in the business, or used to pay down debt. It is important because it indicates the company's ability to generate cash and its financial flexibility. FCF can be used for investment opportunities, debt repayment, dividends, and other uses that contribute to the company's long-term value.
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In order to encourage energy conservation, many public utility companies charge consumers a higher rate on units of electricity consumed in excess of some threshold amount. In contrast, a common practice by other firms is to offer "quantity discounts" to consumers who purchase large quantities of a good. Suppose income is $100,P
X
=$2 if the consumer buys less than 40 units of X, and P
Y
=$1. A. For the energy case, assume P
X
=$3 if the consumer buys more than 40 units of X B. For the "quantity discounts" case, assume P
X
=$1 after 40 units of X were consumed Draw the budget constraints in each of the cases above. What are the implications of the opportunity sets in terms of consumer behavior to consume each of the products? Note: the price change only applies to the quantities above 40 units.
The implication of the opportunity sets in terms of consumer behavior to consume each of the products are different. The demand for X will be reduced. On the other hand, in the "quantity discounts" case, the demand for X will increase.
The public utility companies charge higher rates to consumers in order to encourage energy conservation, whereas other companies offer "quantity discounts" to consumers who purchase large quantities of a good.
The concept of budget constraints is used in economics to show the combinations of two goods that a customer can buy using all of their available money, assuming that all the money is spent. To draw the budget constraints for each case, we need to first determine the total amount of money that the customer can spend on each good. After that, we can use this data to draw a graph with X on the horizontal axis and Y on the vertical axis.
The budget constraint for the energy case:
Income = $100
P X = $2 for units below 40
P X = $3 for units above 40
P Y = $1
To begin, we'll need to calculate the total amount of money that a consumer can spend on X. Since income is $100, this is straightforward. When P X is $2, the consumer can buy 50 units of X. 40 units of X and 30 units of Y can be purchased for a total of $100. When P X is $3, the consumer can only buy 33 units of X. In this case, 33 units of X and 34 units of Y can be purchased for a total of $100. The following graph depicts the budget constraint for the energy case:
The budget constraint for the "quantity discounts" case:
Income = $100
P X = $2 for units below 40
P X = $1 for units above 40
P Y = $1
To begin, we must again calculate the total amount of money that the consumer can spend on X. When P X is $2, the consumer can purchase 50 units of X, as we previously determined. If P X is $1, however, the consumer can now purchase 90 units of X. When P X is $1, the consumer can buy 90 units of X and 10 units of Y, or 40 units of X and 60 units of Y, or any other combination along the line. The following graph depicts the budget constraint for the "quantity discounts" case:
The implication of the opportunity sets in terms of consumer behavior to consume each of the products are different. In the case of the energy case, consumers will be more cautious in their use of X if the price is increased. The demand for X will be reduced. On the other hand, in the "quantity discounts" case, the consumer will be motivated to buy more of X since the price will decrease after 40 units. Thus, the demand for X will increase.
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Upton Corporation is expected to pay the following dividends over the next four years: $17, $13, $12, and $5.50. Afterwards, the company pledges to maintain a constant 4 percent growth rate in dividends forever. If the required return on the stock is 15 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
If the required return on the stock is 15 percent, then the current share price is $15.72.
The dividends paid by Upton Corporation over the next four years are: $17, $13, $12, and $5.50. The growth rate of the dividend is 4%. The required return on the stock is 15%. Let's calculate the current share price using the dividend discount model which is as follows: P0 = D1/(1+r)1 + D2/(1+r)2 + D3/(1+r)3 + D4/(1+r)4 + D5/(1+r)5 + … where P0 = current share price D1 = dividend at time 1 D2 = dividend at time 2 D3 = dividend at time 3 D4 = dividend at time 4 D5 = dividend at time 5 r = required return rate per period. So, let's calculate the share price as follows:
Step 1 Dividend for Year 1 (D1) is $17 Dividend for Year 2 (D2) is $13 Dividend for Year 3 (D3) is $12 Dividend for Year 4 (D4) is $5.5 Next 4% growth is constant and hence the dividend for Year 5 (D5) can be calculated using Gordon Growth Model as follows: g = growth rate = 4% D4 = dividend for Year 4 = $5.5 Dividend for Year 5 (D5) = D4 (1+g) = 5.5(1+0.04) = $5.72
Step 2 The discount rate is 15%, hence r = 15% = 0.15Step 3Now, let's calculate the share price using the dividend discount model. P0 = D1/(1+r)1 + D2/(1+r)2 + D3/(1+r)3 + D4/(1+r)4 + D5/(1+r)5P0 = 17/(1+0.15)1 + 13/(1+0.15)2 + 12/(1+0.15)3 + 5.5/(1+0.15)4 + 5.72/(1+0.15)5P0 = 15.72. Hence, the current share price is $15.72.
Note: Always remember to keep the number of decimal places consistent throughout the calculation. If not, rounding off errors will creep in and the answer will be incorrect.
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CASE STUDY – Group Assignment & Presentation "A Not-For Profit Medical Research Center"
One of your team members is the director of external affairs for a national not-for-profit medical research center that does research on diseases related to aging. The center’s work depends on funding from multiple sources, including the general public, individual estates and grants from corporations, foundations and the federal government.
Your department prepares an annual report of the center’s accomplishments and financial status for the board of directors. It is mostly text with a few charts and tables, all black and white, with a simple cover. It is voluminous and pretty dry reading. It is inexpensive to produce other than the effort to pull together the content, which requires time to request and expedite information from the center’s other departments.
At the last board meeting, the board members suggested the annual report be improved and upscale into a document that could be used for marketing and promotional purposes. They want you to mail the next annual report to the centers various stakeholders, past donors and targeted high-potential future donors. The board feels that such a document is needed to get the center "in the same league" with other large not-for-profit organizations with which it feels it competes for donations and funds. The board feels that the annual report could be used to inform these stakeholders about the advances the center is making in its research efforts and its strong fiscal management for effectively using the funding and donations it receives.
You and your team will need to produce a shorter, simpler, easy-to-read annual report that shows the benefits of the center’s research and the impact on people’s lives. You will include pictures from various hospitals, clinics and long-term care facilities that are using the results of the center’s research. You also will include testimonials from patients and families who have benefited from the center’s research. The report must be "eye-catching". It needs to be multicolor, contain a lot of pictures and easy-to-understand graphics, in addition be written in a style that can be understood by the average adult potential donor.
This is a significant undertaking for your department, which includes but not limited to three other staff members. You will have to contract out some of the activities and may have to travel to several medical facilities around the country to take photos and get testimonials. You will also need to put the design, printing and distribution out to bid to various contractors to submit proposals and prices to you. You estimate that approximately five million copies need to be distributed and/or mailed.
It is now September 2021 the board asks you to come to its next meeting in December 2021 to present a very detailed plan, schedule and budget for how you will complete the project. The board wants the annual report "in the mail" by April 5, 2022. The center’s fiscal year ends December and its financial 2 statements should be available by January 15, 2022. However, the non-financial information for the report can start to be pulled together right after the December board meeting.
Fortunately, you are taking a project management course at harward College and see this as an opportunity to apply what you have been learning. You know that this is a big project and that the board has high expectations. You want to be sure you meet their expectations and get them to approve the budget that you will need for this project.
However, they will only do that if they are confident that you have a detailed plan for how you will get it all done. You and your staff have twelve weeks to prepare a plan to present to the board during the second week of December 2021. If approved, your team will have from January 1, 2022 to March 31, 2022 to implement the plan and complete the project. Your staff is composed of the members of your assigned group. In addition to the project manager, you have among you a marketing specialist, writer/editors and a staff assistant whose hobby is photography (pretend she/he is going to college part-time in the evenings to earn a degree in photojournalism and has won several local photography contests).
Question - Develop the work breakdown structure in two formats i.e. TREE structure and TABULAR view
The development of the work breakdown structure in two formats i.e. TREE structure and TABULAR view is given
TREE Structure:
Project: Not-For-Profit Medical Research Center Annual Report
1.1 Pre-Production Phase
1.1.1 Collect non-financial information from departments
1.1.2 Request testimonials and gather patient stories
1.1.3 Plan and schedule photo shoots at medical facilities
1.1.4 Design concept development
1.1.5 Create graphics and infographics
1.2 Production Phase
1.2.1 Conduct photo shoots at medical facilities
1.2.2 Gather and edit testimonials and patient stories
1.2.3 Design layout and incorporate graphics
1.2.4 Write content in a clear and understandable style
1.3 Post-Production Phase
1.3.1 Review and revise draft report
1.3.2 Obtain necessary approvals
1.3.3 Finalize design, layout, and content
1.3.4 Print and produce the annual report
1.4 Distribution Phase
1.4.1 Solicit bids from printing and distribution contractors
1.4.2 Evaluate proposals and select contractors
1.4.3 Coordinate printing and distribution logistics
1.4.4 Mail and distribute annual reports to stakeholders
TABULAR View:Phase Tasks
Pre-Production Phase Collect non-financial information
Request testimonials and gather patient stories
Plan and schedule photo shoots at medical facilities
Design concept development
Create graphics and infographics
Production Phase Conduct photo shoots at medical facilities
Gather and edit testimonials and patient stories
Design layout and incorporate graphics
Write content in a clear and understandable style
Post-Production Phase Review and revise draft report
Obtain necessary approvals
Finalize design, layout, and content
Print and produce the annual report
Distribution Phase Solicit bids from printing and distribution contractors
Evaluate proposals and select contractors
Coordinate printing and distribution logistics
Mail and distribute annual reports to stakeholders
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Instructions Apr. 18. Received a $60,000, 30-day, 10% note dated April 18 from Glenn Cross on account. Received a $40,800, 60-day, 5% note dated April 30 from Rhoni Melville on account. 30. May 18. The note dated April 18 from Glenn Cross is dishonored, and the customer's account is charged for the note, including interest. June 29. The note dated April 30 from Rhoni Melville is dishonored, and the customer's account is charged for the note, including interest. Aug. 16. Cash is received for the amount due on the dishonored note dated April 18 plus interest for 90 days at 5% on the total amount debited to Glenn Cross on May 18. Oct. 22. Wrote off against the allowance account the amount charged to Rhoni Melville on June 29 for the dishonored note dated April 30. Instructions. Journal 1 2 3 4 5 6 7 8 9 10 11 12 DATE DESCRIPTION Apr. 18 Notes Receivable Accounts Receivable-Glenn Cross Apr. 30 Notes Receivable Accounts Receivable-Rhoni Melville May 18 Accounts Receivable-Glenn Cross Notes Receivable Interest Revenue Jun. 29 Accounts Receivable-Rhoni Melville Notes Receivable Interest Revenue Aug. 16 Cash Accounts Receivable-Glenn Cross JOURNAL I POST. REF. DEBIT 60,000.00 40,800.00 CREDIT 60,000.00 40,800.00
Based on the information provided, the completion of the journal entries is shown in the attached image below.
A journal entry is a formal accounting record used to document a business transaction. It is the first step in the accounting cycle and involves recording the financial effects of a transaction in the general ledger. Journal entries provide a chronological record of all the transactions that occur within a business.
Journal entries are typically recorded in a general journal, which is a book or electronic document used to keep a systematic record of all transactions.
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