Given,Net accounts receivable on December 31, 2019 = $100,000The Allowance for Bad Debts has a credit balance of $26,000 on December 1, 2019An additional debit entry to Bad Debts Expense and credit to Allowance for Bad Debts for $5,600 was made on December 31, 2019.To find, The balance of Accounts Receivable on December 31, 2019.The Allowance for Bad Debts is subtracted from Accounts Receivable to compute net realizable value.
If the balance in the Allowance for Bad Debts account is a credit, subtract the balance from Accounts Receivable to determine net realizable value.
The formula for calculating net realizable value is as follows:Net realizable value = Accounts receivable – Allowance for doubtful accountsIn this case, the balance of Allowance for Bad Debts on December 31, 2019 can be calculated as follows:Balance of Allowance for Bad Debts on December 31, 2019 = Balance of Allowance for Bad Debts on December 1, 2019 + Debit entry to Bad Debts Expense and credit to Allowance for Bad Debts for $5,600 on December 31, 2019= $26,000 + $5,600= $31,600
Therefore, the balance of Accounts Receivable on December 31, 2019 can be calculated as follows:Accounts Receivable on December 31, 2019 = Net accounts receivable + Allowance for Bad Debts= $100,000 + $31,600= $131,600Hence, the correct option is D. $131,600.
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You invested $7,000 in a savings deposit 5 quarters ago and it has grown to $7993 today. What nominal rate of annual interest (compounding quarterly) did you earn? (expressed as a percentage to two decimal places; don’t use the % sign)
The nominal rate of annual interest (compounding quarterly) you earned is 6.24%.
First, you can start by calculating the total number of compounding periods that the money was invested. Five quarters equal 1.25 years (5 ÷ 4 = 1.25).Then, to find the nominal rate, use the following formula: FV = PV (1 + r) whereof = future value PV = present value, which is $7,000n = number of periods, which is
5 (1.25 years x 4 quarters per year) r = nominal annual interest rate.
In this formula, you'll need to solve for r.
Plug in the numbers: FV = $7,993PV = $7,000n = 5(1.25 x 4) = 5r = ?$7,993 = $7,000(1 + r)5Divide both sides by $7,000 to isolate (1 + r)5: $7,993 ÷ $7,000 = (1 + r)5Taking the fifth root of both sides gives:1.141857143 = 1 + subtracting 1 from both sides:0.141857143 = r.
Converting to a percentage:0.141857143 x 100 = 14.186%
Finally, divide by the number of compounding periods per year (4) to get the quarterly rate:14.186% ÷ 4 = 3.5465%. Finally, to get the nominal rate of annual interest (compounding quarterly) to two decimal places, add 1 to the quarterly rate, raise it to the fourth power (since there are four quarters in a year), and subtract 1:((1 + 0.035465)4) - 1 ≈ 0.0624 or 6.24%.
Therefore, the nominal rate of annual interest (compounding quarterly) you earned is 6.24%.
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The following is a set of data from a sample of n=5. 8−5−483□ a. Compute the mean, median, and mode. b. Compute the range, variance, standard deviation, and coefficient of variation. c. Compute the Z scores. Are there any outliers? d. Describe the shape of the data set.
For the given data set {8, -5, -4, 8, 3}, the mean is 2, the median is 3, and the mode is 8 and -4. The range is 13, the variance is 29, the standard deviation is 5.385, and the coefficient of variation is 269.3. There are no outliers in the data set, and the shape of the data set is right-skewed.
A. To compute the mean, we sum up all the values in the data set and divide by the number of data points. The mean is found to be 2.
To calculate the median, we arrange the data set in ascending order and find the middle value, which is 3 in this case.
The mode is the value that appears most frequently in the data set. Here, both 8 and -4 appear twice, so they are the modes.
B. The range is calculated by subtracting the minimum value from the maximum value. In this case, the range is 13.
To find the variance, we use the formula that involves subtracting the mean from each data point, squaring the result, summing them up, and dividing by (n-1), where n is the number of data points. The variance is found to be 29.
The standard deviation is the square root of the variance, which is 5.385 in this case.
The coefficient of variation is calculated by dividing the standard deviation by the mean and multiplying by 100. The coefficient of variation is 269.3.
C. The Z score of each observation is computed by subtracting the mean from the observation and dividing by the standard deviation. The Z scores for each observation are 1.114, -1.259, -1.038, 1.114, and 0.186, respectively. No Z scores exceed 3 in absolute value, indicating that there are no outliers.
D. Based on the given data set, a histogram would show a right-skewed distribution since there are no values less than or equal to zero.
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PART 1-4! ANSWER CORRECTLY TO ALL 4 PARTS. I will give a rating.
Based on the given attendance, the seasonal indices for each of the seasons are (round your responses to three decimal places):
Winters index = ____
Springs Index = ____
Summers index = ____
Falls Index = ____
As the attendance for a year is given for four seasons in the question and the seasonal indices for each of the seasons are to be found out, the formula for seasonal indices is given as Seasonal index = (Average actual attendance) / (Average expected attendance)
Let us find the average actual attendance and average expected attendance for all four seasons: Winter, Spring, Summer, and Fall. For Winter:Average Actual Attendance = [tex](890+690+1020)/3 = 2000/3[/tex]. Average Expected Attendance = (1080+780+1100)/3 = 2960/3Seasonal index for Winter .[tex]= (2000/3) / (2960/3) = 0.675[/tex] For Spring:Average Actual Attendance = (870+1000+980)/3 = 2850/3. Average Expected Attendance = [tex](1080+780+1100)/3 = 2960/3[/tex]. Seasonal index for Spring = (2850/3) / (2960/3) = 0.964
For Summer: Average Actual Attendance = [tex](1200+1560+1720)/3 = 4480/3[/tex]; Average Expected Attendance = (1080+780+1100)/3 = 2960/3Seasonal index for Summer [tex]= (4480/3) / (2960/3) = 1.514;[/tex] For Fall:Average Actual Attendance = (1700+1580+1020)/3 = 4300/3; Average Expected Attendance =[tex](1080+780+1100)/3 = 2960/3[/tex]; Seasonal index for Fall = [tex](4300/3) / (2960/3) = 1.453[/tex].
Thus, the seasonal indices for each of the seasons are Winter’s index = 0.675Springs Index = 0.964; Summers index = 1.514; Falls Index = 1.453. Note: The formula for calculating the seasonal index is given as- Seasonal index = (Average actual attendance) / (Average expected attendance).
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The annual market size for products bought by or for preteens and teenagers is about - $2 billion. (1) $20 billion. ( $100 billion. ()) $200 billion. $900 billion. QUESTION 17 Evaluative criteria refer to the objective and subjective attributes of a brand consumers use to compare different products and brands those attributes of a brand that are based exclusively on objective criteria in order to make an unbiased purchase decision those attributes of a brand that are based exclusively on subjective criteria in order to avoid postpurchase anxiety the attributes of a product that a manufacturer wishes to promote to a specific target market. a list of required product attributes from which a customer will not waver regardless of additional incentives. QUESTION 18 A filtering of exposure, comprehension, and retention is called selective attention. selective perception. selective intuition. selective retention. stimulus discrimination. QUESTION 19 A(i) external cognitive alternative internal postpurchase OUESTION 20 Cognitive dissonance refers to feelings of guilt for purchasing a product or service that was not consistent with a consumer's moral or ethical beliefs. feelings of discomfort associated with purchasing something purely for the sake of prestige. the feeling of postpurchase psychological tension or anxiety consumers may experience when faced with two or more highly attractive alternatives. feelings of discontent after a purchase has been made when the product fails to perform up to expectations feelings of discontent before a purchase has been made when the customer finds out that he or she paid more for the product than necessary. Click Save and Submit to save and submit. Click. Save All Answers to save all answers.
Evaluative criteria refer to the objective and subjective attributes of a brand that consumers use to compare different products and brands. Filtering can be influenced by personal interests, needs, etc.
These criteria can include both objective factors, such as price, quality, and features, as well as subjective factors, such as brand reputation, personal preferences, and emotional appeal. Evaluative criteria help consumers make informed purchase decisions by considering various aspects of a brand or product before making a choice. A filtering of exposure, comprehension, and retention is called selective attention. Selective attention refers to the process by which consumers choose to focus their attention on certain stimuli while filtering out others.
This filtering can be influenced by factors such as personal interests, needs, and preferences. Cognitive dissonance refers to the feeling of post-purchase psychological tension or anxiety that consumers may experience when faced with two or more highly attractive alternatives. It occurs when there is a mismatch between a consumer's beliefs, attitudes, or expectations and their actual purchase decision. The feeling of cognitive dissonance arises from the conflict or inconsistency in the consumer's thoughts and can lead to a sense of discomfort or unease.
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What do you mean by Service marketing? As the marketing manager of "Trip freak", a travel and tourism company
Service marketing is the marketing of service rather than products, particularly in service sector industries, such as travel and tourism, hospitality, education, healthcare, financial services, and telecommunications.
In essence, it refers to the processes and strategies used by service businesses to promote their offerings, build brand image, create customer loyalty, and generate revenue. As the marketing manager of "Trip freak", a travel and tourism company, it's your responsibility to develop effective service marketing strategies that will help you attract and retain customers, enhance customer satisfaction, and maximize profitability.
Finally, you'll need to measure and track your marketing performance using metrics such as customer acquisition cost, customer lifetime value, and customer satisfaction. By continually refining your service marketing strategies based on these metrics, you can improve your results over time and build a sustainable competitive advantage.
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John Maynard Keynes: a. was against any form of government intervention b. thought monetary policy should be used to fight recessions, but not fiscal polic c. thought the Federal Reserve should be abolished d. was a supporter of fiscal policy as a means to stabilize the economy If the Federal Government wanted to create a stimulus package to deal with a recession it would include: a. increase in government spending b. decrease in government spending c. increase in taxes d. decrease in interest rates
John Maynard Keynes was an influential economist who believed in active government intervention to stabilize the economy. Here option D is the correct answer.
Keynes advocated for the use of fiscal policy, which involves government spending and taxation, as a means to counter recessions and stabilize the economy. He argued that during times of economic downturns, the government should increase its spending to stimulate demand and boost economic activity.
This increased government spending helps create jobs and generates income, ultimately stimulating the economy. In the context of creating a stimulus package to address a recession, Keynesian economics would support option a: an increase in government spending.
By injecting money into the economy through increased spending on infrastructure projects, social programs, or other targeted initiatives, the government aims to stimulate consumer and business spending, thereby generating economic growth and reducing unemployment.
This approach is based on the idea that when private spending declines during a recession, the government can step in to fill the gap and spur economic recovery. Therefore option D is the correct answer.
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Old Navy's Talent Strategy Fills Some Gaps Retailing is a difficult business, involving stiff competition both online and off,
Old Navy is a retail company that sells clothing, accessories, and personal care items. It is one of the subsidiaries of Gap Inc. In recent years, Old Navy has had to compete with various retail stores both online and offline. Old Navy has been successful because of its talent management strategy, which has helped it fill gaps in the retailing business.Old Navy's talent strategy has played a significant role in the company's success.
Old Navy's talent management strategy focuses on hiring and retaining the best employees to fill gaps in the company's workforce. The company seeks employees with the right skills, experience, and talent to fill open positions. This strategy ensures that the company has the right people to achieve its goals and objectives.Old Navy's talent strategy includes various practices to fill gaps in the retailing business. One of these practices is hiring from diverse backgrounds.
The company has a culture of diversity, equity, and inclusion, which ensures that it attracts talent from various backgrounds. This strategy has helped the company develop innovative ideas that have contributed to its success. Another practice is providing employees with development opportunities. The company invests in its employees' development, providing them with training and development programs.
This practice ensures that employees have the necessary skills and knowledge to perform their jobs effectively.In conclusion, Old Navy's talent strategy has played a significant role in the company's success. The company's focus on hiring and retaining the best employees has helped it fill gaps in the retailing business. Old Navy's talent management strategy includes various practices, such as hiring from diverse backgrounds and providing development opportunities to employees. These practices have contributed to the company's success.
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At the beginning of the year, the net assets of Shannon Company were $492,600. The only transactions affecting stockholders’ equity during the year were net income of $70,200 and dividends of $15,400.
Calculate Shannon Company’s return on equity (ROE) for the year. Note: Round your answer to 1 decimal place.
The given parameters are as follows:
Beginning Net assets = $492,600
Net Income = $70,200
Dividends = $15,400
Formula:
Return on Equity (ROE) = Net Income / Shareholder's Equity ROE measures the percentage of total net income against the shareholder's equity.
In simpler terms, it measures the rate of return that shareholders receive on their investment in the company.
Return on Equity (ROE) for the year = Net Income / Shareholder's Equity.
Shareholder's Equity = Beginning Net assets + Net Income – Dividends Putting the given values into the formula,
we get:
Shareholder's Equity = $492,600 + $70,200 - $15,400
Shareholder's Equity = $547,400
Now, substituting the values into the formula of ROE:
ROE = Net Income / Shareholder's EquityROE = $70,200 / $547,400ROE = 0.128 = 12.8% (rounded to one decimal place)
Therefore, Shannon Company's Return on Equity (ROE) for the year is 12.8%.
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You have been asked by the financial vice president to develop a short presentation on the
lower-of-cost or market method for inventory purposes. The financial VP needs to explain
this method to the president because it appears that a portion of the company's inventory
has declined in value. The financial VP asks you to answer the following questions.
(i) What is the purpose of the lower-of-cost-or-market method?
(ii) What is meant by "net realizable value"?
(iii) Do you apply the lower-of-cost-or-market method to each item, to a category, or
to the total of the inventory? Explain.
(iv) What are the potential disadvantages of the lower-of-cost or market method?
(i) The lower-of-cost-or-market method ensures inventory is reported at its appropriate value, recognizing losses when net realizable value is lower than original cost.
(ii) Net realizable value is the estimated selling price of inventory minus costs to sell, representing the expected amount from selling inventory in its current condition.
(iii) The method is applied to each inventory item individually, comparing its cost to market value. If market value is lower, inventory is written down to the lower value, avoiding overstatement on the balance sheet.
(iv) Disadvantages include subjective judgments, potential inconsistency, and recognizing losses before sale, impacting profitability and financial ratios.
(i) The purpose of the lower-of-cost-or-market method is to ensure that inventory is reported at its appropriate value on the financial statements. This method allows for the recognition of a loss when the net realizable value of inventory (selling price minus costs to complete and sell) is lower than its original cost.
(ii) "Net realizable value" refers to the estimated selling price of inventory less the estimated costs necessary to make the sale. It represents the amount the company expects to realize from selling the inventory in its current condition.
(iii) The lower-of-cost-or-market method is applied to each item of inventory individually. It involves comparing the original cost of each item to its market value (net realizable value). If the market value is lower than the cost, the inventory is written down to the lower value. This approach ensures that inventory is not overstated on the balance sheet.
(iv) There are potential disadvantages to the lower-of-cost-or-market method. Firstly, it requires subjective judgments and estimates, which may introduce bias or lack objectivity. Secondly, it can lead to inconsistency in the valuation of inventory, especially if different items within the same category have different market values. Lastly, applying the method may result in losses being recognized before the inventory is actually sold, impacting the company's profitability and financial ratios.
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The actual selling expenses incurred in March 2022 by Novak Company are as follows. Variable Expenses Sales commissions Advertising Travel Delivery $14,300 8,970 6,630 4,485 Fixed Expenses Sales salaries Depreciation Insurance $45,500 9,100 1,300 Variable costs and their percentage relationship to sales are sales commissions 6%, advertising 4%, travel 3%, and delivery 2%. Fixed selling expenses will consist of sales salaries $45,500, Depreciation on delivery equipment $9,100, and insurance on delivery equipment $1,300. (a) Prepare a flexible budget performance report for March, assuming that March sales were $221,000. (List variable costs before fixed costs.) $ $ (b) Prepare a flexible budget performance report, assuming that March sales were $234,000.
Prepare a flexible budget performance report for March, assuming that March sales were [tex]$221,000[/tex]. the flexible budget performance report for March with two different sales figures, as per the given data, are: [tex]$10,670[/tex] favorable and [tex]$5,200[/tex]unfavorable.
Variable Selling Costs Sales Commissions 6% of sales[tex]($234,000 × 6%) $14,040[/tex] Advertising 4% of sales [tex]($234,000 × 4%) $9,360[/tex]Travel 3% of sales[tex]($234,000 × 3%) $7,020 Delivery 2% of sales ($234,000 × 2%) $4,680[/tex]Total variable selling costs [tex]$35,100[/tex]Fixed Selling Costs Sales Salaries [tex]$45,500[/tex] Depreciation on delivery equipment [tex]$9,100[/tex]Insurance on delivery equipment [tex]$1,300[/tex] Total fixed selling costs [tex]$55,900[/tex]
Total Selling Costs [tex]$91,000[/tex]Sales Revenue [tex]$234,000[/tex]Actual Selling Costs [tex]$91,000[/tex]Flexible budget variance[tex]$(234,000 × 0.4) - $91,000 = $12,960[/tex] FavorableSales Volume Variance [tex]$(234,000 - 221,000) × 0.4 = $5,200[/tex] Unfavorable.
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Lamar & Co Company makes and sells two types of shoes, Plain and Fancy. Data concerning these products are as follows:
Plain Fancy
Unit selling price $20.00 $35.00
Variable cost per unit 12.00 24.50
40% of the unit sales are Plain, and annual fixed expenses are $47,500.
The weighted-average unit contribution margin is:
A.
$17.00
B.
$9.50
C.
$9.00
D.
$9.25
The weighted-average unit contribution margin of Lamar & Co Company is $9.25.
What is weighted-average unit contribution margin?
The weighted-average unit contribution margin is the overall contribution margin, divided by the total number of units. The contribution margin is the revenue minus the variable costs that are associated with the production of goods or services.
Solution:
Given that 40% of the unit sales are Plain, the remaining 60% will be Fancy. The unit selling price and variable cost per unit for Plain are $20.00 and $12.00, respectively, while those for Fancy are $35.00 and $24.50, respectively.
The total contribution margin for Plain is:
CMPlain = $20.00 - $12.00 = $8.00
And the total contribution margin for Fancy is:
CMFancy = $35.00 - $24.50 = $10.50
Now let's calculate the weighted-average contribution margin per unit as follows:
Weighted-average CM = ((40/100) x $8.00) + ((60/100) x $10.50) = $3.2 + $6.3 = $9.5
Therefore, the weighted-average unit contribution margin is $9.50.
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Project management
1.1 Learning Outcomes:
Understanding and recognition of Projects
Importance of Projects
Identifying the nature of Project
6.2 Action Required:
Read the following Statement:
"Some projects are described as White Elephants"
6.3 Test your Knowledge (Question):
What do you think of the statement?
Why some Projects are considered as "White Elephants". Explain
"White Elephants" when they are wasteful, impractical, or fail to deliver value due to a lack of practicality, inefficient resource use, poor planning and execution, lack of stakeholder engagement, or changing circumstances.
The term "White Elephant" is often used metaphorically to describe projects that may have been initially well-intentioned but have ended up being burdensome or ineffective.
There are several reasons why certain projects are considered as "White Elephants":
Lack of practicality: Some projects may be initiated without proper feasibility studies or a realistic understanding of their potential benefits. They may be driven by political or personal agendas rather than actual need or demand. As a result, these projects may become impractical, failing to deliver the intended outcomes or value.
Inefficient use of resources: White Elephant projects are typically characterized by excessive spending and misallocation of resources. Large budgets and investments may be directed towards projects that do not align with the priorities or needs of the stakeholders or community. This mismanagement of resources can lead to wasted funds and a lack of tangible benefits.
Poor planning and execution: Projects that lack a well-defined plan, clear objectives, and effective project management processes are more likely to be deemed as white elephants. Without proper oversight and coordination, these projects may face delays, cost overruns, and scope creep, resulting in a failure to deliver the intended outcomes.
Lack of stakeholder engagement: When projects do not involve or consider the perspectives and needs of relevant stakeholders, they may fail to gain support or generate meaningful impact. Ignoring the input of those who are directly affected by the project can lead to resentment, resistance, and ultimately, the project being labeled as a white elephant.
Changing circumstances or priorities: External factors such as shifts in market conditions, technology advancements, or changes in social or economic priorities can render projects irrelevant or obsolete. Without adaptability and flexibility to accommodate evolving circumstances, projects can become stranded and ineffective.
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Sweatshops are terrible places to work, but for some people a job in a sweathsop represents the difference between eating and starving; for others it represents the first step on a rung to a better standard of living for them and for their families. If we go back to the Industrial Revolution, we can see it's how we all started out. Do you believe sweatshops have a place in the 21st century? If so, what modifications would you make to them? If not, what would you provide as a feasible alternative?
Sweatshops are terrible places to work, but for some people a job in a sweathshop represents the difference between eating and starving; for others, it represents the first step on a rung to a better standard of living for them and for their families.
What does it entail?If we go back to the Industrial Revolution, we can see it's how we all started out. However, I do not believe sweatshops have a place in the 21st century.
There are several reasons why sweatshops should not be allowed to operate. First, the labor conditions in sweatshops are inhumane. Workers are subjected to long hours of work, minimal pay, and poor working conditions. They are often forced to work in cramped spaces with inadequate ventilation and lighting. They do not have access to clean water, restroom facilities, or basic safety equipment. These conditions lead to physical and emotional exhaustion, illnesses, and accidents. Second, sweatshops perpetuate a cycle of poverty. Workers are paid very low wages and are unable to afford basic necessities such as food, clothing, and shelter. They are forced to live in overcrowded and unsanitary conditions. This makes it difficult for them to escape poverty and improve their standard of living. Third, sweatshops are unethical. Many sweatshops use child labor, which is a violation of human rights.Workers are often subjected to verbal and physical abuse by their employers. They are not allowed to form labor unions or to engage in collective bargaining. Instead, they are forced to accept the conditions set by their employers.
What would I provide as a feasible alternative? The feasible alternative is for companies to adopt fair labor standards that ensure workers are treated with dignity and respect. These standards should include adequate pay, safe working conditions, and access to basic benefits such as health care and retirement benefits. Additionally, companies should engage with labor unions and other worker advocacy groups to ensure that workers are able to negotiate fair wages and benefits.Furthermore, consumers should demand that companies adopt fair labor standards. They should boycott products that are produced in sweatshops and only support companies that demonstrate a commitment to fair labor standards.
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Magic Realm, Incorporated, has developed a new fantasy board game. The company sold 55,800 games last year at a selling price of $69 per game. Fixed expenses associated with the game total $1,023,000 per year, and variable expenses are $49 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 68,076 games next year (an increase of 12,276 games, or 22%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year? b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.)
The expected net operating income for next year is $333,847.60, representing a significant increase from the previous year.
1-a. Contribution Format Income Statement for Last Year:
Sales revenue (55,800 games * $69) $3,851,200
Variable expenses (55,800 games * $49) ($2,737,200)
Contribution margin $1,114,000
Fixed expenses ($1,023,000)
Net operating income $91,000
1-b. Degree of Operating Leverage:
The degree of Operating Leverage (DOL) can be calculated using the following formula:
DOL = Contribution margin / Net operating income
DOL = $1,114,000 / $91,000
DOL = 12.24
Expected Increase in Net Operating Income for Next Year:
Given that the company expects to sell 68,076 games next year, an increase of 12,276 games or 22% over last year, we can use the degree of operating leverage to estimate the percentage increase in net operating income.
Expected percentage increase in net operating income = Degree of Operating Leverage * Percentage increase in sales
Expected percentage increase in net operating income = 12.24 * 22%
Expected percentage increase in net operating income = 269.28%
b. Expected Net Operating Income for Next Year:
To calculate the expected net operating income for next year, we can use the percentage increase in net operating income and apply it to the previous year's net operating income.
Expected net operating income = Net operating income (last year) + (Net operating income (last year) * Expected percentage increase in net operating income)
Expected net operating income = $91,000 + ($91,000 * 269.28%)
Expected net operating income = $333,847.60
Therefore, the expected net operating income for next year is $333,847.60.
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Instructions: write a 1-2 page paper surrounding one of the following:
1. Choose a popular topic that impacts managers in business and describe how managers could change it.
2. What is the most interesting information about the evolution of management?
Note: please provide source/reference for this paper in APA format.
Choose a popular topic that impacts managers in business and describe how managers could change it.Business managers are dealing with a diverse range of challenges and difficulties.
These challenges include attracting and maintaining top-performing talent These activities can help employees build their skills and confidence, and it can help them feel more engaged and committed to their work and the organization.In conclusion, employee engagement is a critical factor in the success of any business.
Managers who can create an environment that fosters engagement among employees will be more likely to attract and maintain top-performing talent, increase productivity, and achieve their organizational goals. By offering employee recognition and rewards and providing opportunities for growth and development, managers can help create a positive and productive work environment for everyone.
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Quiz Company purchased inventory with a price of $100,000 on March 5, 2022. The seller offered a 10% trade discount and purchase discounts of 2/10,n30. Quiz Company uses a periodic inventory system and uses the gross method to account for purchase discounts. The entry to record payment in full for the inventory on March 12,2022 would include: A credit to cash for $88,200 A debit to accounts payable for $98,000 Wroug A credit to cash for $100,000 A credit to purchase discounts for $2,000
The company purchased inventory at a price of $100,000 on March 5, 2022. The seller offered a 10% trade discount and purchase discounts of 2/10, n30. The company uses a periodic inventory system and uses the gross method to account for purchase discounts.
The entry to record the payment in full for the inventory on March 12, 2022, would include a credit to cash for $88,200, a debit to accounts payable for $98,000, and a credit to purchase discounts for $2,000.The trade discount offered by the seller on the purchased inventory is 10%. Hence, the cost of inventory is 90% of the listed price, which is 10% of $100,000 = $10,000$100,000 - $10,000 = $90,000The terms 2/10, n30 implies a 2% discount is offered if the amount is paid within 10 days. Otherwise, the full amount should be paid within 30 days. Using the gross method, the cost of inventory will be calculated first, and then the discount will be recorded if the payment is made within the discount period.The cost of inventory = $90,000; Purchase discount = 2% of $90,000 = $1,800. The payment will be made on March 12, 2022, which is 7 days after March 5, 2022, when the inventory was purchased. Hence, it is within the 10 days discount period. The entry to record the payment in full for the inventory on March 12, 2022, would include a credit to cash for $88,200, a debit to accounts payable for $98,000, and a credit to purchase discounts for $2,000.Hence, the answer is: WrougA credit to cash for $88,200 A debit to accounts payable for $98,000; A credit to purchase discounts for $2,000.
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Select a beachhead market with example in Entrepreneurship.
Beachhead market is a strategic location or a target market that is small and manageable for a company to enter and establish itself before expanding its reach to other larger markets. The term “beachhead” refers to the first territory captured by the invading military force, and in entrepreneurship.
It is used to refer to a small market that an entrepreneur enters with the intention of gaining a foothold and then expanding gradually.
Example:
An excellent example of a beachhead market is the success story of Airbnb. Airbnb started by identifying a small beachhead market, the market that consisted of a few thousand people who were attending an industrial design conference in San Francisco in 2007.
Three designers, Joe Gebbia, Brian Chesky, and Nathan Blecharczyk, realized that all hotels in San Francisco were fully booked for the event. They decided to open up their loft as a bed-and-breakfast (B&B) for conference attendees, providing homemade breakfasts and guided city tours. The idea was a hit, and the demand for their B&B service increased. The founders knew that they had identified a potential beachhead market, and from there, they went on to establish Airbnb as a successful and global business.
They gradually expanded their services to other locations and started partnering with local homeowners to list their homes and apartments as rental spaces for travelers. They have now become a successful and established brand, with millions of users worldwide.
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The owner of Mom \& Pop's Hardware Store purchased a knife sharpener last year in order to allow the store to offer services in sharpening many types of blades. The cost of the equipment was $5,200 but Pop now feels that the store needs to generate additional revenue of $200 per month in order to have made the purchase worthwhile. With regard to making the decision of whether to continue to offer the service, the original cost of the sharpener can be considered relevant. sunk. controllable. mixed.
In the decision of whether to continue offering the knife sharpening service at Mom & Pop's Hardware Store, the original cost of the sharpener is considered a sunk cost.
A sunk cost refers to a past cost that has already been incurred and cannot be recovered. In this case, the $5,200 spent on purchasing the knife sharpener is not relevant to the decision-making process. Instead, the focus should be on the future revenue generated by the service, which is the additional $200 per month. The decision to continue the service should be based on its ability to generate the desired revenue and contribute to the store's overall profitability, rather than the past investment in the sharpener.
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Two companies are offered the following interest rates: A financial institution is planning to arrange a swap and requires a 20 basis point spread. If the swap is equally attractive to both companies, which one of the following statements is most accurate? The comparative advantage is 0.40%. OAK has a comparative advantage in AUD rates. The currency swap will allow OAK to gain access to PINE's comparatively better SEK (Swedish Krona) rates. By engaging in the currency swap, each party will improve their borrowing rate by 0.20%. None of the other answer choices are correct.
The currency swap will result in a 0.20% improvement in the borrowing rate for each party.
The statement that is most accurate regarding two companies offered different interest rates, and a financial institution is planning to arrange a swap and requires a 20 basis point spread, is that "By engaging in the currency swap, each party will improve their borrowing rate by 0.20%.
"The two companies are offered different interest rates and require the assistance of a financial institution to arrange a swap with a 20 basis point spread. To make it more attractive to both companies, the swap is done equally.
Therefore, the currency swap will allow each company to improve their borrowing rate by 0.20%, making it easier for them to access the market. Hence, the statement "By engaging in the currency swap, each party will improve their borrowing rate by 0.20%," is the most accurate.
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Mike lends money to Kathy as a business loan to Kathy who is capitalizing her start up sole proprietorship named Kathy's
Mike lends money to Kathy as a business loan to Kathy who is capitalizing her start-up sole proprietorship named Kathy's. This business loan has a lot of benefits for Kathy's start-up, such as the ability to invest in resources that might have otherwise been unattainable without the aid of the loan.
Most start-up companies require an infusion of cash at some point, and the best approach to obtain that infusion of cash is to obtain a business loan. A business loan from a lender like Mike could help Kathy's start-up obtain the money it needs to get started. The loan could be used to buy inventory, pay employees, and purchase any other necessary equipment that the start-up needs.
However, a business loan is generally a good choice for most start-ups, as it can provide the funding necessary to get a new business up and running.In summary, getting a business loan is a great way to raise money for a start-up company. It can provide the resources needed to invest in inventory, equipment, and personnel. And, with the right terms and conditions, a business loan can be an effective tool for getting a start-up off the ground.
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Q1: The highly successful online auction site eBay has attracted millions of buyers and sellers. In these faceless exchanges, trust on both sides of a transaction could be of concern. One action eBay has taken to promote trust in exchanges is to allow feedback. Why is this so important and effective?
Q2: In 1962, U.S. President John F. Kennedy took specific actions to avoid the pitfalls of groupthink in deciding how to proceed during the Cuban Missile Crisis. Conduct your own research and write a few paragraphs evaluating the steps taken and their effectiveness.
eBay is an e-commerce platform where millions of buyers and sellers are exchanging goods or services. Trust is a crucial factor that eBay had to establish to ensure both parties benefit from the transactions.
Secondly, feedback promotes accountability. Buyers or sellers who have poor feedback records will be subjected to disciplinary action. If a seller continuously receives negative feedback from buyers, eBay is likely to cancel their account. Therefore, the sellers are encouraged to offer excellent services, and buyers are motivated to pay promptly.
The steps taken by Kennedy to avoid groupthink were effective. Kennedy's approach helped his advisors to identify potential risks and develop effective strategies to tackle the crisis. The Cuban Missile Crisis was resolved without military intervention, thus avoiding a catastrophic war between the United States and the Soviet Union.
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Which of the following statements is correct, in developing assumptions to be used in a DCF It is important to disclose where the firm's revenues are segmented geographically How the firm's revenues are segmented geographically is irrelevant It important to know the name of the firm's auditors None of the above
In developing assumptions to be used in a Discounted Cash Flow (DCF), it is important to disclose where the firm's revenues are segmented geographically. So, option a is correct.
Therefore, the correct statement among the given options is "In developing assumptions to be used in a DCF, it is important to disclose where the firm's revenues are segmented geographically.
"DCF stands for discounted cash flow, which is a valuation technique that determines the present value of an investment's future cash flows. The technique is frequently utilized in corporate finance and private equity valuations. In order to build assumptions for the DCF, the analyst must have access to and understand the firm's financial statements.
This includes a comprehensive understanding of the company's revenues, expenditures, assets, and liabilities. The analyst may use this information to predict future cash flows and determine an appropriate discount rate. One critical aspect that must be known is how the company's revenues are segmented geographically. So, option a is correct.
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Complete question:
Which of the following statements is correct, in developing assumptions to be used in a DCF
It is important to disclose where the firm's revenues are segmented geographically
How the firm's revenues are segmented geographically is irrelevant It important to know the name of the firm's auditors
None of the above
which point in time would you address this with the employee? I have found some companies speak to this during reviews, some gauge during the interview process, even some set up plans during new hire orientation or on-boarding. Would you look to know what a person's long-term goals are before hiring?
It is better to know what a person's long-term career goals are before hiring. This helps you to determine whether or not the person will be committed to the company in the long run.
It is best to address this point during the interview process because it gives you the opportunity to ask potential employees about their career goals, what they hope to achieve in the future, and their plans for personal growth.
This will help you to determine whether or not the candidate will be a good fit for the company in the long term.
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Are directors duties an effective method to promote CSR?
Corporate Social Responsibility (CSR) refers to a company's commitment to operating ethically and in a manner that contributes to sustainable development, society, and the environment.
CSR initiatives can include charitable donations, environmental stewardship, and labor practices, among other things. CSR has become increasingly relevant in recent years, and many firms are now looking for ways to implement CSR policies and practices. Directors' duties are an effective way of promoting CSR. In this regard, the company's board of directors plays an essential role in ensuring that the company operates in a responsible and sustainable manner.
Directors have a fiduciary duty to act in the best interests of the company, and that duty includes ensuring that the company operates in a socially responsible manner. Directors can use their power to set the company's policies, monitor its performance, and hold management accountable for meeting the company's CSR goals. By doing so, they promote a culture of social responsibility within the organization. Thus, directors' duties can be an effective method to promote CSR.
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Increasing POS reduces bad debts, provides a better cash position, reduces expenses, and increases patient satisfaction when conducted properly. POS is calculated by dividing POS payments by the total patient cash collected. HHS has identified the industry median benchmark for POS as 13.6% and the top 10% POS benchmark as 41.4%. HHS’s current POS performance is 35.6%, and the executive team has determined that a 5-percentage point increase is needed to stay competitive (target = 40.6%). A Lean Six Sigma team was formed. POS is a metric that heavily relies on the Patient Access team, or PA. PA is responsible for several tasks—patient scheduling, registration, and financial clearance. The "scheduling" tasks are typically completed by a centralized PA team for multiple hospital facilities. During scheduling, PA reps receive a doctor’s order for a patient. The order is like a permission slip for specific medical services the doctor deems necessary. The doctor or even the patient related to the order can call scheduling to reserve an appointment for the services that correspond to what is written in the order. PA reps need to verify that the order is complete and accurate, coordinate time for services, and provide patients with pre-service instructions. After the patient’s information is logged into the scheduling system, 3 | P a g e Copyright 2016, Simplilearn, All rights reserved. it will be queued up for the PA registration team to complete the registration process. The PA will call the patient and confirm their identity and collect demographics such as address, family, emergency contact, etc. The patient's health insurance provider(s) will also be confirmed as part of the PA registration process. PA registration can be completed at a hospital facility or by a centralized team. Lastly, PA Financial Clearance will verify patient health benefits to ensure they exist and to determine if the procedure or service for the patient is covered. If authorization is required, the PA Financial Clearance will request authorization for services from the patient’s health insurance provider. Services performed without authorization lead to rejected claims. Also, during PA Financial Clearance, the PA rep will counsel the patient about their liability (how much their insurance provider says they need to pay for the services) and collect the payment. Any payment received is considered POS since it’s before 7 days post discharge. Financial clearance can also be performed at the hospital facilities or by a centralized team. Summary patient cash data for HHS’s 39 hospital facilities for a year is presented in Table 1. The table also indicates if the PA team for each facility is centralized or not. Table 2 provides an overall monthly trend for POS performance. The team identified the facilities with POS performance above the target and researched the activities they have in place, hoping to find commonalities or key drivers. They are: • ensure proper patient education on benefits and liability • ask for payment • have a financial counseling policy • reduce number of patients that leave without financial clearance • have accurate tools to help estimate patient liability or responsibility • utilize devices that allow patient collections at the patient’s bedside
Please solve the following:
a) Using the data given in following Table , how would you scope the focus area of the project?
b) what could be affinity categories for the key drivers that impact POS performance?
a) Scoping the focus area of the project:
Based on the table given below, the focus area of the project is the facilities where the POS performance is below the target. The following steps are to be taken in order to decide the focus area:
Step 1:
The first step is to determine the target POS performance, which is 40.6%.
Step 2:
The next step is to determine the median benchmark of the industry, which is 13.6%.
Step 3:
Then we need to identify the facilities where POS performance is below the target i.e., less than 40.6% and we also need to find the facilities where the POS performance is less than the median benchmark i.e., less than 13.6%.
Step 4:
From the data provided in Table 1,
We need to focus on the facilities where the POS performance is below the target. The facilities where POS performance is below the target are:
Facility 8: 35.3%
Facility 10: 35.4%
Facility 19: 38.6%
Facility 22: 36.7%
Facility 26: 39.9%
Facility 27: 39.8%
Facility 29: 39.9%
Facility 35: 38.8%
Facility 36: 39.6%
Facility 37: 39.9%
Facility 39: 39.1%
The affinity categories for the key drivers that impact POS performance are as follows:
1. Patient education• Educating patients about their insurance benefits and liabilities.
2. Payment policies• Asking patients for payment at the time of registration.• Financial counseling policies.
3. Reduced number of patients who leave without financial clearance.
4. Tools for estimating patient liability• Accurate tools for estimating patient liability or responsibility.
5. Patient collections• Utilizing devices that allow patient collections at the patient’s bedside.
6. Financial clearance
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On December 3t, Year A. Nlexa Company s preparing adjusting entres for es annual year-end. The following issues confront the company. resdual valoe. At December 31. Year A. it has been velermined that the estimated total useful life is 6 years insteed of 10 . 2 Equipment 4502 with a cost of $13,650 was purchased four years earlier on janiary 1. Year 1 . It is being deprecared on a straightiline basis over an entimated usefullife of seven years weth no residuat value. At thecember 31 , Year 4 , it was discovered that no deprecation had been recorded on this equipment for Year 1 or Year 2 but it was recorded for Year 3 3 In Vear 4 . Mera decided to change inventory methods from the weighted average method to the FFO trethod. Net income reported in vear 3 applyng the weighted average method was 3285,000 . if PFo had been applied in Year 3, net income would have been 3303,000 a. For equipment a101, provide the requred adjusting entry for depreciation especse at Dectmber 31 , Year 4. - Note: flound arswers to the nearest whole dotis. b. For equipmen i502, provide the requred adjusting entry for depreciation expense at December 31 , Year 4 c. For equipment 4502 provide any necessary correcting entry. Ignore income tawes. A. In reporting compatatwe income satements in vey 4 what net inkame amount is presented for vear 3 ?
In reporting comparative income statements in year 4, the net income amount presented for year 3 is $3,303,000.
The adjusting entry for the depreciation expense of Equipment A101 on December 31, Year 4 can be calculated by:
annual depreciation = (Cost - Residual value) / Useful life
= ($11,500 - $0) / 6 years
= $1,916.67 per year
Depreciation for 4 years = $1,916.67 × 4 years = $7,666.68
Depreciation expense for year 4 = $1,916.67
Adjusted depreciation expense = Depreciation expense for year 4 - Depreciation for 4 years
= $1,916.67 - $7,666.68
= -$5,750.01
Since the adjusted depreciation expense is negative, the following entry should be made to record the adjustment:
Depreciation expense A502 account Debit $3,900
Accumulated depreciation A502 account Credit $3,900
Depreciation expense A4502 account Debit $1,950
Accumulated depreciation A4502 account Credit $1,950
This is because the question mentions that net income for year 3 would have been $3,303,000 if FFO had been applied in year 3, instead of $3,285,000 under the weighted average method. Since the company decided to change its inventory method in year 4, the income statement for year 4 should also report net income using the same method used in year 3, i.e., FFO.
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Suppose a country has 3523 of Labor and its ppf is given by
193*Qc+272*Qw<=L. Suppose the price of wine is 27, what is the
price of cheese?
The estimated price of cheese in the given country is approximately 38.097 units of currency.
To determine the price of cheese, we need to consider the production possibilities frontier (PPF) and the given equation that represents the constraint on labor (L).
The PPF equation, 193Qc + 272Qw <= L, represents the maximum combination of cheese (Qc) and wine (Qw) that can be produced with the available labor (L). The coefficients 193 and 272 represent the labor requirements for producing one unit of cheese and wine, respectively.
To find the price of cheese, we can use the concept of opportunity cost. The opportunity cost of producing one unit of cheese is the amount of wine that must be given up. In other words, it is the ratio of the coefficient of wine (272) to the coefficient of cheese (193).
Opportunity cost of cheese = 272/193 ≈ 1.411
Since the price of wine is given as 27, we can calculate the price of cheese by multiplying the price of wine by the opportunity cost:
Price of cheese = 27 * 1.411 ≈ 38.097
Therefore, the estimated price of cheese is approximately 38.097 units of currency in the given country.
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The variance report showing planned versus actual expenditures is an example of Select one: O a. Tax accounting O b. Managerial accounting O c. Financial accounting O d. None of the above
The variance report showing planned versus actual expenditures is an example of managerial accounting. Managerial accounting is the process of collecting, analyzing, and presenting financial data in a way that helps managers make informed decisions.
This information is used to set budgets, create forecasts, measure performance, and identify opportunities to improve efficiency or profitability. Managerial accounting is an essential tool for businesses of all sizes and industries, as it provides the financial information that managers need to run their organizations effectively.Variance reportVariance is the difference between the planned or budgeted amount and the actual amount of an item.
A variance report is a summary of the differences between the actual results of a business and the planned or budgeted results for a period of time. The report is used to identify the reasons for the differences between the actual and budgeted amounts and to provide recommendations for corrective action.Planned versus actual expendituresThe variance report showing planned versus actual expenditures compares the planned or budgeted expenditures with the actual expenditures for a period of time. It highlights the differences between the planned and actual expenditures and provides recommendations for corrective action. This report is an essential tool for managers to monitor the financial performance of their organizations and to take corrective action if needed.In conclusion, the variance report showing planned versus actual expenditures is an example of managerial accounting.
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Name and discuss transactional tax that is found in
South Africa
VAT is an important transactional tax in South Africa, contributing to the country's revenue and helping to finance public services and development initiatives.
In South Africa, one of the transactional taxes that is commonly levied is the Value Added Tax (VAT). VAT is an indirect tax imposed on the consumption of goods and services and is applied at each stage of the supply chain, from production to final consumption. The current standard rate of VAT in South Africa is 15%.
VAT is a significant source of revenue for the South African government and plays a crucial role in funding public services and infrastructure development.
It applies to a wide range of goods and services, including but not limited to, food, clothing, electronics, transportation, and professional services. Certain items, such as basic food items and certain healthcare services, may be zero-rated or exempted from VAT.
Businesses in South Africa are generally required to register for VAT if their annual turnover exceeds a certain threshold. Registered businesses charge VAT on their sales and are also allowed to claim input tax credits for VAT paid on their purchases.
VAT is administered by the South African Revenue Service (SARS), which is responsible for ensuring compliance and collection of the tax. Non-compliance with VAT obligations can result in penalties and legal consequences.
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What is the McKinsey's 7S framework and explain the elements. Give an example of a business that used this framework and was it successful.
The McKinsey 7S framework has proven effective in enhancing business performance, as exemplified by Royal Dutch Shell, which successfully employed the model to improve its operations and achieve greater efficiency and profitability.
The McKinsey 7S framework is a strategic management model created by consulting company McKinsey & Company. The framework involves seven interconnected factors, including strategy, structure, systems, skills, staff, style, and shared values.
McKinsey & Company developed this framework in the late 1970s. The 7 elements of McKinsey's 7S framework are described below:Strategy: An organization's plan for achieving its objectives and goals is referred to as strategy. Structure: The way in which an organization's roles, responsibilities, and lines of authority are organized is referred to as structure.
Systems: Procedures, techniques, and routines that dictate how the job is done are referred to as systems. Skills: The skills, knowledge, and competencies needed by people to perform their work are referred to as skills. Staff: Employees who are required to complete tasks are referred to as staff. Style: Management's leadership style and how they interact with employees is referred to as style.
Shared Values: The principles, values, and beliefs that guide organizational behavior and decision-making are referred to as shared values.Example: A business example that has effectively employed the McKinsey 7S framework is Royal Dutch Shell.
This framework was used to effectively improve the company's business operations. Shell's management team recognized the importance of examining all elements of the company in order to create an environment that encourages efficiency and profitability. The 7S model was used by Shell to strengthen the internal coherence between business processes and management, ultimately leading to enhanced performance.
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