In June, Grill Master Ltd. recorded several transactions, including purchases, sales, returns, and freight payments. The corresponding journal entries were made to accurately reflect these transactions.
To record the transactions for Grill Master Ltd. in the month of June, the following journal entries would be made:
June 3:
Inventory (25 x $440) 11,000
Accounts Payable 11,000
(To record the purchase of 25 barbeques from BBQ King Ltd.)
June 5:
Inventory 200
Accounts Payable 200
(To record the freight payment for the barbeques purchased on June 3)
June 6:
Accounts Receivable 9,120
Sales Revenue 9,120
(To record the sale of 12 barbeques to Outdoor Grill)
Cost of Goods Sold 4,368
Inventory 4,368
(To record the cost of goods sold for the 12 barbeques sold)
June 7:
Accounts Payable 880
Inventory 880
(To record the return of two defective barbeques to BBQ King)
June 13:
Accounts Receivable 760
Sales Returns and Allowances 40
Inventory 40
(To record the return of one defective barbeque from Outdoor Grill)
June 16:
Accounts Payable 440
Inventory 440
(To record the return of the defective barbeque from Outdoor Grill to BBQ King)
June 19:
Inventory (10 x $440) 4,400
Accounts Payable 4,400
(To record the purchase of 10 barbeques from Backyard Barbecues)
June 20:
Inventory 200
Accounts Payable 200
(To record the freight payment on the June 19 purchase)
June 30:
Cost of Goods Sold 8,000
Inventory 8,000
(To record the cost of goods sold for the remaining inventory)
To know more about journal entries, here
https://brainly.com/question/20421012
#SPJ4
Riley Inc has asked for your assistance in preparing a cash budget for the month of March 2021 and has provided projected sales revenue data below: Projected sales: January 2021 $144,000 February 2021
The estimated cash receipts for Riley Inc. in March 2021 is $158,400 based on the projected sales data of $144,000 for January and $180,000 for February, assuming that all sales are made on credit with a 60-day collection period.
Riley Inc, a retail store, has requested your assistance in preparing a cash budget for the month of March 2021. The store has provided you with the following data regarding their projected sales revenue:January 2021: $144,000February 2021: $180,000The first step in preparing the cash budget is to estimate cash receipts. A cash budget is an essential tool that a company can use to manage its finances and plan for the future. The budget will assist Riley Inc. in planning its cash flows and making informed business decisions.Based on the projected sales data, we can estimate the cash receipts for March 2021. Since Riley Inc. has not provided any other information, we will assume that all sales are made on credit, and the company has a 60-day collection period. In other words, 60% of sales will be collected in the month of sale, and the remaining 40% will be collected in the following month.To determine the estimated cash receipts for March 2021, we must first determine the sales for January and February that will be collected in March.60% of January sales: $86,400 ($144,000 x 0.6)40% of February sales: $72,000 ($180,000 x 0.4)Total estimated cash receipts for March 2021: $158,400 ($86,400 + $72,000)In conclusion, the estimated cash receipts for Riley Inc. in March 2021 is $158,400 based on the projected sales data of $144,000 for January and $180,000 for February, assuming that all sales are made on credit with a 60-day collection period.
For more question on credit
https://brainly.com/question/13964348
#SPJ11
Explain the concept of the product life cycles. Assuming you are the marketing manager for the Apple i-phone X13, describe your promotion and pricing strategy at each stage of the product life cycle?
The product life cycle is the stages that a product goes through from conception to market withdrawal. There are four stages of a product life cycle including introduction, growth, maturity and decline. The concept of the product life cycle is used by businesses to understand the changes in the market demand for the product.
Below are the pricing and promotion strategies to be implemented by the marketing manager for the Apple i-phone X13 at each stage of the product life cycle:Introduction stage: At this stage, the product is introduced to the market. Since the product is new, it requires an aggressive promotion strategy to make people aware of the product. A penetration pricing strategy is implemented to ensure the price is low to attract more customers.Growth stage: At this stage, the product starts to become popular, and the sales start to increase.
A selective distribution strategy is used to ensure the product is available in key markets. A price skimming strategy is implemented to ensure the company maximizes profits.Maturity stage: At this stage, the product becomes widely accepted, and the competition becomes intense. A sales promotion strategy is used to create incentives to buy the product. A competitive pricing strategy is used to ensure the company can compete with rivals.
Decline stage: At this stage, the product sales decline, and the company may decide to withdraw the product from the market. A discount pricing strategy is implemented to clear stock and recover any losses.
To know more about market visit :
https://brainly.com/question/15483550
#SPJ11
Lake Country Promotional Services uses a job order system for
costing and billing promotional services for dance and ballet
performances. Lake Country has four public relations specialists
plus an off
Lake Country Promotional Services use a job order system for performances. Lake Country has four public relations specialists plus an office manager. The job order cost system is a costing system that is used in situations where a company produces batches of different products in which each batch has its unique characteristics.
The job order cost system is used to track and identify the cost of the materials used, labor expenses, and other costs that are associated with producing each unique batch of products. The job order cost system can also be used to determine the profitability of each batch of products that are produced in a company. For Lake Country, it is used for their performances. When Lake Country receives a request for their services, it is the duty of the office manager to evaluate the request and determine the materials and labor expenses that will be required to produce the unique performance. The manager then assigns the project to one of the public relations specialists, who will coordinate with the client and ensure that the performance is delivered as per the request. During the course of the project, the specialist is responsible for keeping track of the expenses incurred, and once the project is complete, they are also responsible for preparing the invoice that will be sent to the client. The job order cost system is beneficial to Lake Country because it allows them to identify the actual cost incurred in producing each unique performance, which helps them to charge an appropriate price for their services.For such more question on profitability
https://brainly.com/question/29982132
#SPJ11
A money supply boost will boost output in the long run and prices in the short run.
a. true
b. false
The statement "A money supply boost will boost output in the long run and prices in the short run" is true.
This is because a monetary policy that is expansive has a long-run impact on the economy's actual production of goods and services. A boost in the money supply occurs when there is a rise in the amount of money available for commercial banks to loan to individuals and businesses. This has the effect of increasing the overall money supply in circulation. This approach has the potential to help the economy's long-term performance by increasing the quantity of cash available for investment. The short-term influence of the money supply boost is on pricing, which will rise as a result of the higher demand for goods and services. These effects, however, are usually temporary, and inflation should ultimately return to its long-run pattern. A money supply boost will boost output in the long run and prices in the short run. While prices in the short run can increase, they may have an impact on the economy's long-term performance by increasing the quantity of money available for investment.
To know more about inflation visit
brainly.com/question/29308595
#SPJ11
P Ltd owns all the share capital of S Ltd. Below are some intragroup transactions that occurred during the financial year ended 30 June 2023 A.. S Ltd sold $50,000 worth of inventory to P Ltd. S Ltd recorded $10,000 profit before tax on this transaction. At 30 June 2023, P Ltd has one-quarter of these goods still on hand. B. S Ltd sold a warehouse to P Ltd for $100,000. This warehouse had originally cost S Ltd $82,000. The transaction took place on 1 January 2023. P Ltd charges a straight-line annual depreciation rate at 5%.
Required:
1. Prepare the adjusting journal entries to eliminate the sale of inventory and its tax effect accounting for the consolidation worksheet at 30 June 2023 assuming an income tax rate of 30% and that all income of sale of assets is taxable and expenses are deductible. Narrations are not required
2. Prepare the adjusting journal entries to eliminate the sale of the warehouse
1. Adjusting journal entries to eliminate the sale of inventory and its tax effect at 30 June 2023:
a) Eliminating the sale of inventory:
P Ltd's Inventory (current asset) $12,500
S Ltd's Inventory (current asset) $12,500
b) Eliminating the profit on the intercompany sale:
P Ltd's Inventory (current asset) $2,500
S Ltd's Inventory (current asset) $2,500
P Ltd's Equity in Subsidiary Earnings
(retained earnings) $10,000
c) Eliminating the tax effect on the profit:
Income Tax Expense (current liability) $3,000
Deferred Tax Liability (non-current liability) $3,000
2. Adjusting journal entry to eliminate the sale of the warehouse:
P Ltd's Warehouse (non-current asset) $100,000
S Ltd's Warehouse (non-current asset) $100,000
Depreciation Expense (income statement) $4,100
Accumulated Depreciation - P Ltd's Warehouse
(non-current asset) $4,100
Note: These adjusting entries are made in the consolidation worksheet to eliminate the effects of intercompany transactions and ensure accurate consolidation of financial statements. The specific accounts used may vary depending on the company's chart of accounts and accounting policies.
To know more about financial visit-
brainly.com/question/32653280
#SPJ11
If India becomes a lender of credit
then the capital account will be a. Deficit
b. Surplus c.
Balance d. Zero
If India becomes a lender of credit, it means that India has a surplus in its balance of payments, specifically in the capital account. The correct answer is option B. surplus. This means that India's exports of goods and services are greater than its imports, resulting in a surplus.
In this situation, India would have more foreign exchange than it needs to conduct international trade. This extra foreign exchange can be lent out to other countries, hence India becomes a lender of credit.
Balance of payments refers to the record of a country's transactions with the rest of the world. It is divided into two accounts: the current account and the capital account. The current account records the transactions in goods and services, while the capital account records the transactions in financial assets.
A surplus in the capital account results in a positive balance of payments, while a deficit in the capital account results in a negative balance of payments.A balance is achieved when the value of imports equals the value of exports. In this case, India would neither be a lender nor a borrower of credit.
A zero balance of payments means that there is no surplus or deficit in the country's transactions with the rest of the world. It means that the value of exports equals the value of imports, and there is no need to borrow or lend any foreign exchange.
In conclusion, if India becomes a lender of credit, it means that India has a surplus in its balance of payments, specifically in the capital account. If there is a balance, then India neither borrows nor lends credit, and if there is a zero balance, then there is no surplus or deficit in India's transactions with the rest of the world.
To know more about surplus here
https://brainly.com/question/30622657
#SPJ11
Chavin Company had the following results during August: net operating income, $400,000; turnover, 6; and ROI 23%. Chavin Company's average operating assets were:
a.$1,739,130
b. $2,400,000
c. $92,000
d. $66,667
Chavin Company had the following results during August: net operating income, $400,000; turnover, 6; and ROI 23%. Chavin Company's average operating assets were: $1,739,130.
The correct answer is option a) $1,739,130.
To calculate the average operating assets of Chavin Company, we can use the Return on Investment (ROI) formula:
ROI = Net Operating Income / Average Operating Assets
Given that the ROI is 23% and the Net Operating Income is $400,000, we can rearrange the formula to solve for Average Operating Assets:
Average Operating Assets = Net Operating Income / ROI
Average Operating Assets = $400,000 / 0.23
Average Operating Assets ≈ $1,739,130
Therefore, the correct answer is option a) $1,739,130.
To know more about assets.click here:-
https://brainly.com/question/13982833
#SPJ4
Which of the following best describes the role of ethics in a business environment?
a. guiding the conduct by which companies and their agents abide by the law
b. guiding the conduct by which companies abide by the law
c. respecting the community
d. respecting the right of shareholders
a. Guiding the conduct by which companies and their agents abide by the law. . By adopting ethical practices, businesses can contribute to creating a more sustainable and responsible business environment.
Ethics plays a crucial role in a business environment by guiding the conduct of companies and their agents to abide by the law. This involves making ethical decisions and choices that align with legal and regulatory frameworks. By adhering to ethical principles, businesses demonstrate integrity, transparency, and accountability in their operations.
In a business context, ethical behavior encompasses aspects such as honesty, fairness, respect for others, and social responsibility. It involves treating employees, customers, suppliers, and the community at large with fairness and respect. Ethical conduct contributes to building trust and long-term relationships with stakeholders, which in turn can lead to enhanced reputation, customer loyalty, and sustained business success.
Respecting the community and the rights of shareholders are important components of ethical behavior, but they are not the sole focus. Ethical decision-making takes into account a broader range of considerations, including the well-being of employees, the impact on the environment, and the needs of society as a whole,
Learn more about responsible here: brainly.com/question/28903029
#SPJ11
What is Project A's MIRR? Do not round intermediate calculations. Round your answer to two decimal places. What is Project A's MIRR? Do not round intermediate calculations. Round your answer to two decimal places. % What is Project B's MIRR? Do not round intermediate calculations. Round your answer to two decimal places. If the projects were independent, which project(s) would be accepted according to the MIRR method? If the projects were mutually exclusive, which project(s) would be accepted according to the MIRR method?
To calculate the Modified Internal Rate of Return (MIRR) for Project A and Project B, I would need specific information about the cash flows associated with each project, including the initial investment and future cash inflows/outflows. Without this data, I cannot provide the exact MIRR values for Project A and Project B.
However, I can explain how to determine which project would be accepted according to the MIRR method:
1. If the projects were independent:
- Calculate the MIRR for each project.
- Compare the MIRR values. If the MIRR for Project A is higher than the MIRR for Project B, Project A would be accepted. If the MIRR for Project B is higher, then Project B would be accepted. If the MIRR values are equal, either project can be accepted.
2. If the projects were mutually exclusive:
- Calculate the MIRR for each project.
- Compare the MIRR values. The project with the highest MIRR would be accepted. If the MIRR values are equal, neither project would be accepted.
To perform the calculations and determine the MIRR for Project A and Project B, please provide the relevant cash flow information for each project.
Learn more about Modified Internal Rate of Return click here
brainly.com/question/29569213
#SPJ11
after reading the article who is responsible for cyber security in the enterprise? and reviewing the articles on cyber security and data privacy do your own research. define what you information technology security, information security, and enterprise security means in the business world today. discuss the role you believe enterprises have, if any, using your research to support it.
For systems connected to the internet, including their hardware, software, and data, cybersecurity is the protection against cyberthreats. This method is used by both individuals and companies to guard against illegal access to computer systems and data centres.
An effective cybersecurity strategy can provide a strong defence against harmful attacks that aim to access, change, remove, destroy, or extort sensitive data and systems that belong to a business or user. Security precautions are crucial in thwarting attempts to disable or damage a system's or device's functionality.
As there are more people, devices, and programmes in the modern company, coupled with a flood of new data, most of it sensitive or confidential, the need of cybersecurity will only grow.
To learn more about cybersecurity, click here.
https://brainly.com/question/31928819
#SPJ4
Sidual income The income from operations and the amount of invested assets in each division of Beck Industries are as follows: Income from Operations Invested Assets $180,400 $820,000 Commercial Divis
The following formula can be used to determine the residual income for each division:
Operating Income minus the Minimum Required Rate of Return divided by Operating Assets is the residual income. Where:
Each division's operating income is called operating income.
The required minimum rate of return is 9%.
The amount of invested assets in each division is called operating assets.
We are able to determine the residual income for each division as follows using the information you provided:
Residual Income Retail Division $5,400,000 $30,000,000 9 percent $2,100,000 Commercial Division $6,250,000 $25,000,000 9 percent $3,025,000 Internet Division $1,800,000 $12,000,000 9 percent $360,000
The Retail Division has a residual income of $2,100,000.
The Commercial Division has a residual income of $3,025,000.
The lingering pay for the Web Division is $360,000.
I trust this makes a difference! Inform me as to whether you have some other inquiries.
The money that a person or organisation receives in exchange for their goods or services is known as income. Several definitions of income can be applicable, depending on the circumstance.
Most people's total income consists of their wages and salaries, investment returns, pension payments, and other sources. Businesses define income as the money they get from the sales of their products and services as well as any interest or dividends related to their cash holdings and working capital.
Economists employ several definitions and techniques for determining income. Whether it covers wages, savings, consumption, production, public finance, capital investment, or other pertinent themes and subtopics, their definition of income will be consistent with the aim of their research.
Learn more about income here:
brainly.com/question/2194020
#SPJ4
Correct question is:
Residual Income
The income from operations and the amount of invested assets in each division of Beck Industries are as follows:
Income from Operations Invested Assets
Retail Division $5,400,000 $30,000,000
Commercial Division 6,250,000 25,000,000
Internet Division 1,800,000 12,000,000
Assume that management has established a 9% minimum acceptable return for invested assets
Pauline Found Manufacturing, Inc., is moving to kanbans to support its telephone switching-board assembly lines. Determine the size of the kanban for subassemblies and the number of kanbans needed. Setup cost = $30 Annual holding cost = $120 per subassembly Daily production = 20 subassemblies Annual usage = 2,500 (50 weeks Times 5 days each Times daily usage of 10 subassemblies) Lead time = 16 days Safety stock = 4 days' production of subassemblies.
the size of the Kanban for subassemblies is 200 subassemblies, and 13 Kanbans are needed.
To determine the size of the Kanban for subassemblies and the number of Kanbans needed, we need to consider the production rate, usage rate, lead time, and safety stock. Here`s how we can calculate them:
Calculate the usage rate per day:
Annual usage = 2,500 subassemblies
Daily usage = Annual usage / (Number of weeks * Number of workdays per week)
Daily usage = 2,500 / (50 weeks * 5 days) = 10 subassemblies per day
Calculate the lead time demand:
Lead time demand = Daily usage * Lead time
Lead time demand = 10 subassemblies per day * 16 days = 160 subassemblies
Calculate the safety stock:
Safety stock = Daily usage * Safety stock days
Safety stock = 10 subassemblies per day * 4 days = 40 subassemblies
Calculate the total demand during lead time:
Total demand during lead time = Lead time demand + Safety stock
Total demand during lead time = 160 subassemblies + 40 subassemblies = 200 subassemblies
Determine the size of the kanban:
Kanban size = Total demand during lead time
Kanban size = 200 subassemblies
Calculate the number of kanbans needed:
Number of kanbans = Annual usage / Kanban size
Number of kanbans = 2,500 subassemblies / 200 subassemblies ≈ 12.5
To know more about Safety stock visit :
https://brainly.com/question/30906540
#SPJ4
it is illegal for your company to open and read email you send and receive at work.
a. true
b. false
The given statement "it is illegal for your company to open and read email you send and receive at work" is false because the legality of employers accessing and monitoring work-related emails can vary depending on the country, region, and specific circumstances. The correct answer is option b.
In some cases, employers may have the legal right to monitor employee communications conducted on company-owned equipment or networks, including work-related emails.
This is often done to ensure compliance with company policies, protect sensitive information, prevent misconduct, or address security concerns.
It is important to consult the applicable laws and employment agreements in your specific jurisdiction to understand the rights and limitations regarding email monitoring in the workplace.
The correct answer is option b.
To know more about email refer to-
https://brainly.com/question/16557676
#SPJ11
. Which of the following is true of the transaction stage for a vertical acquisition?
a. The acquirer should include benefits from increased control in forecasting the target’s returns
b. Forecasting the targets returns should include its sales to external customers post-acquisition
c. The benefits from increased control accrue to the unit within the acquirer that receives the target’s inputs
D. All of these
In a vertical acquisition, the transaction stage involves combining the buyer and the supplier of goods and services. The answer is option (d) all of these.
A vertical acquisition occurs when a company acquires another company that is part of its supply chain. As a result, the buyer and the supplier of goods and services are combined. The transaction stage in vertical acquisition involves combining the buyer and the supplier of goods and services. It is during this stage that the acquirer should include benefits from increased control in forecasting the target's returns.
The buyer can anticipate increased returns from reduced input costs and other benefits that result from vertical integration. As a result, it is essential to evaluate the value of the inputs that the target company supplies to the buying company. The benefits of increased control accrue to the unit within the acquirer that receives the target's inputs.
Forecasting the target's returns should include its sales to external customers post-acquisition because this allows the buyer to anticipate increased profits from an expanded customer base.
The success of a vertical acquisition is determined by the buyer's ability to combine both businesses effectively.
Hence, option D is the right one.
To know more about vertical acquisition, visit https://brainly.com/question/32550749
#SPJ11
• Distinguishing between fact and opinion and point of view Drawing valid inferences and conclusions .
Assessing the credibility or objectivity of the writer
1. Many people want you to see the cause-and-effect relationships that they believe exist, and they often use questionable or outright fallacious reasoning to support their point of view. Consider the following examples:
a) Politicians assure you that a vote for them will result in "a chicken in every pot and a car in every garage".
b) Advertisers tell you that using their detergent will leave your wash "cleaner than clean, whiter than white."
c) Doctors tell you that eating a balanced diet will result in better health.
d) Educators tell you that a college degree is worth an average of $830,000 in additional income over an individual's life.
e) Scientists inform you that nuclear energy will result a better life for all of us.
Distinguishing between fact and opinion is crucial for evaluating the credibility of statements and making informed judgments. Let's examine the examples you provided:
a) The statement made by politicians is an example of a subjective claim that cannot be objectively proven. It appeals to the emotions and aspirations of the voters rather than presenting concrete evidence.
b) The statement made by advertisers falls into the realm of hyperbole or exaggeration, commonly used in marketing. It is not a verifiable fact but a persuasive technique aimed at influencing consumer behavior.
c) The statement made by doctors is based on scientific evidence and can be considered a factual claim. Numerous studies support the link between a balanced diet and better health outcomes.
d) The statement made by educators is a statistical claim based on average earnings data. While it represents a general trend, individual outcomes may vary significantly.
e) The statement made by scientists is a prediction or projection about the potential benefits of nuclear energy. It is based on research and scientific knowledge, but it cannot be stated as an absolute fact until it is realized and observed.
In assessing the credibility or objectivity of the writers in these examples, it is important to critically evaluate the evidence, consider alternative perspectives, and recognize the presence of persuasive techniques or potential biases. By doing so, one can make more informed inferences and conclusions about the statements presented.
learn more about "judgments":- https://brainly.com/question/29989379
#SPJ11
The economy of Ghana is made up of three sectors namely: Agriculture, Industry and Services. These three sectors contribute to the national output. For decades, prior to the 2000s, the Agricultural sector contributed the most to the national output. Sadly, in recent years however, the sector has been the least contributor to national output. Trends in production of major food crops such as maize, rice and sorghum show that on-farm productivity has stagnated and the exploitable difference between the actual and the potential output of most of the crops (yield gap) has widened. Low and inadequate levels of usage of productivity enhancing technologies such as quality seeds of improved varieties and fertilizer, inadequate extension services and weak market linkages contribute to the poor agricultural performance. It was against this background that the NPP-led government implemented one of her flagship programmes "Planting for Food and Jobs". The programme is primarily aimed at making subsidised improved seeds and fertilizers available to farmers, sensitising farmers on the adoption of good agronomic practices and the marketing of agricultural crops over an electronic agriculture platform. This programme is ultimately aimed at boosting crop yield. In addition, suppose that agricultural products in Ghana are normal goods and due to the implementation of good economic policies and the curtailing of corruption, the economy of Ghana grows significantly leading to appreciable increases in the general consumers' income levels. With Page 2 of 4 2/4 the aid of a diagram, explain the effect of these events on the equilibrium price and quantity of agricultural crops assuming that these events have equal impact.
However, the equilibrium price may either increase or decrease depending on the magnitude of the increase in demand and supply.
The economic growth of Ghana is made up of three sectors namely Agriculture, Industry and Services. The agricultural sector contributes to the national output, however, it has been the least contributor to national output in recent years.
The stagnation of on-farm productivity and weak market linkages contribute to the poor agricultural performance. The NPP-led government implemented the "Planting for Food and Jobs" programme aimed at boosting crop yield. Suppose agricultural products are normal goods and due to the implementation of good economic policies and curtailing of corruption, the economy of Ghana grows significantly leading to an appreciable increase in the general consumer’s income level, we can explain the effect of these events on the equilibrium price and quantity of agricultural crops assuming that these events have equal impact.With an increase in the general consumer's income levels, their purchasing power also increases. As agricultural products are normal goods, the demand for these products increases. Figure 1:Impact of increase in consumer’s income on equilibrium price and quantity of agricultural cropsThe above diagram shows that an increase in income from Y1 to Y2 will increase the demand for agricultural products from D1 to D2. This leads to an increase in the equilibrium price from P1 to P2 and the equilibrium quantity of agricultural products increases from Q1 to Q2.
On the other hand, the implementation of the "Planting for Food and Jobs" programme increases the supply of agricultural products as the farmers receive improved seeds and fertilizers. Figure 2: Impact of implementation of "Planting for Food and Jobs" on equilibrium price and quantity of agricultural cropsThe above diagram shows that the increase in supply from S1 to S2 will lead to a decrease in the equilibrium price from P1 to P2. The equilibrium quantity of agricultural products increases from Q1 to Q2.Overall, the impact of the two events will be that the equilibrium quantity of agricultural products increases from Q1 to Q3.
to know more about equilibrium price and quantity visit:
https://brainly.com/question/14480835
#SPJ11
Internal failure costs are associated with testing, labs, and inspectors. O True O False
The statement "Internal failure costs are associated with testing, labs, and inspectors." is false as are costs incurred as a result of defects or failures in products or services before they are delivered to customers.
Internal failure costs are expenses incurred as a result of poor quality and flaws in a business's internal procedures. These expenses are related to actions taken to find and fix errors prior to the delivery of goods or services to customers, such as testing, inspections and rework.
Costs associated with repairing flaws, discarding defective goods, conducting inspections, and resolving production holdups or disruptions are a few examples of internal failure costs. Companies can cut costs, increase efficiency, boost customer satisfaction and safeguard their reputation in the market by addressing internal flaws and investing in quality improvement.
Learn more about Internal failure costs at:
brainly.com/question/28288755
#SPJ4
Individual credit-scoring models typically include all of the following information except: Multiple Choice :
a. Income. b. length of time in residence. c. credit history d. age. e. ethnic background.
Individual credit-scoring models typically include all of the following information except: ethnic background.
Individual credit-scoring models regularly consider different variables to survey financial soundness and anticipate the probability of reimbursement. These components offer assistance decide an individual's credit score. Whereas components such as salary, length of time at home, credit history, and age are commonly considered in credit-scoring models, the ethnic background is not included. Ethnic background or race is not an important or reasonable calculation to be utilized in credit-scoring models because it would be biased and against reasonable loaning hones.
The avoidance of ethnic backgrounds from credit-scoring models is based on legitimate and moral standards. Different laws and regulations, such as the Equal Credit Opportunity Act (ECOA) in the United States, prohibit discrimination based on race or ethnicity. Moneylenders are required to assess financial soundness exclusively based on pertinent and objective criteria that are directly related to an individual's budgetary responsibility.
To know more about Individual credit-scoring
https://brainly.com/question/28217577
#SPJ4
ses/ ACCT 621 (ONS-SPRING-53) / Week 8: Incremental Analysis / Graded Quiz 3 (10%) North Company sells a single product. The product has a selling price of $40 per unit and variable expenses are 70% o
The correct answer is Option (c) $400,000. The amount will be 400000 dollars when it breaks even
How to solve for the break even amountBreak-even point (in units) = Fixed expenses / Contribution margin
First of all what we have to do is to calculate the contribution margin per unit:
Selling price - Variable expenses
Selling price per unit = $40
Variable expenses is given as 70% of $40 = 0.7 * 40 = $28
Contribution margin = $40 - $28
= $12
calculation of the break-even point given in units:
The Break-even point
= $120,000 / $12
= 10,000 units
Therefore, the break-even point for the company is 10,000 units.
Since the question asks for the break-even point in dollars, we can calculate it by multiplying the break-even point in units by the selling price per unit:
Break-even point (in dollars) = Break-even point (in units) * Selling price per unit
= 10,000 units * $40
= $400,000
Hence, the correct answer is Option (c) $400,000.
Read more on break even amount here:https://brainly.com/question/21137380
#SPJ4
Incremental Analysis / Graded Quiz 3 (10%) North Company sells a single product. The product has a selling price of $40 per unit and variable expenses are 70% of sales. If the company's fi total $120,000 per year, then what will be its break-even? of h Select one: Ne OLDI EP 108 W a. $60,000 Ob. $85,714 Oc. $400,000 Od. $42,000 HARAMURES ENG US
Purple Corp. was organized on January 1, 2008 wit authorized capital of 100,000 shares of P20 par value common stock. During 2008, Purple Corp had the following transactions affecting the stockholders' equity. Jan. 10 Issued 25,000 shares at P22 per share Mar. 25 Issued 1,000 shares for legal service when the fair value was P24 per share Sept. 30 Issued 5,000 shares for a piece of equipment when the fair value was P26 per share How much is the balance of the common stock account as of September 30? a.) P620,000 b.) P700,000 c.) P704,000 d.) P674,000 48. Refer to No. 47, what amount should be reported as paid-in capital in excess of par? a.) P84,000 b.) P54,000 c.) P45,000 d.) P50,000
The paid-in capital in excess of par is P704,000 - P620,000 = P84,000. The correct answer is P84,000.(option a)
To determine the balance of the common stock account as of September 30, we need to calculate the total number of shares issued and multiply it by the par value. Let's calculate the number of shares issued:
On January 10, Purple Corp issued 25,000 shares at P22 per share. So the total value of shares issued is 25,000 * P22 = P550,000.On March 25, Purple Corp issued 1,000 shares for legal services at a fair value of P24 per share. So the total value of shares issued is 1,000 * P24 = P24,000.
On September 30, Purple Corp issued 5,000 shares for a piece of equipment at a fair value of P26 per share. So the total value of shares issued is 5,000 * P26 = P130,000.
Now, let's calculate the total number of shares issued: 25,000 + 1,000 + 5,000 = 31,000 shares.
Since the par value of the common stock is P20 per share, the balance of the common stock account as of September 30 is 31,000 * P20 = P620,000.
Therefore, the correct answer is option a) P620,000.
To determine the amount reported as paid-in capital in excess of par, we need to subtract the total par value from the total amount received from issuing the shares.
The total par value of the shares issued is 31,000 * P20 = P620,000.
The total amount received from issuing the shares is P550,000 + P24,000 + P130,000 = P704,000.
for such more questions on capital
https://brainly.com/question/25715888
#SPJ11
Exercise 7-6 Percent of sales method; write-off LO P3 At year-end (December 31), Chan Company estimates its bad debts as 0.40% of its annual credit sales of $802,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $401 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off. Prepare Chan's journal entries for the transactions. View transaction list Journal entry worksheet 1 2 3 4 Record the estimated bad debts expense. Date Dec 31 Note: Enter debits before credits. General Journal Debit Credit Journal entry worksheet < 1 2 3 Date Feb 01 Wrote off P. Park's account as uncollectible. Note: Enter debits before credits. 4 General Journal Debit Credit > Journal entry worksheet < 1 2 3 Reinstated Park's previously written off account. Note: Enter debits before credits. Date Jun 05 General Journal Debit Credit > Journal entry worksheet < 1 2 3 Record the cash received on account. Note: Enter debits before credits. Date Jun 05 General Journal Debit Credit
The Chan Company uses the percentage of sales approach to forecast bad debt costs. Bad debt costs are estimated to be 0.4 percent of the company's total annual credit sales of $802,000.
As a result, bad debt costs will be $3,208 ($802,000 x 0.4 percent).
The journal entry for the year-end adjustment would be to charge $3,208 to Bad Debt Expense and credit the Allowance for Doubtful Accounts for $3,208.
The entry for writing off P. Park's account on February 1 would be a debit to Allowance for Doubtful Accounts for $401 and a credit to Accounts Receivable for $401.
The entry to reinstate the account previously written off on June 5 would be a debit to Accounts Receivable for $401 and a credit to Allowance for Doubtful Accounts for $401.
The entry to record the cash received on June 5th would be a debit to Cash for $401 and a credit to Accounts Receivable for $401.
Bad debt cost is an expense that a business incurs as a result of extending credit to clients and customers. The Chan Company utilizes the percentage of sales approach to estimate bad debt costs. Bad debt costs are predicted to be 0.4 percent of the company's total annual credit sales of $802,000 as per the given information.
As a result, bad debt costs will be $3,208 ($802,000 x 0.4 percent).
Bad Debt Expense will be charged $3,208 and the Allowance for Doubtful Accounts will be credited $3,208 for year-end adjustment. The company determines that P. Park's $401 account is uncollectible and writes it off as a bad debt on February 1st. As a result, the allowance for doubtful accounts is debited $401 and accounts receivable is credited $401 in the entry for writing off P. Park's account. On June 5th, Park unexpectedly pays the amount previously written off. The accounts receivable is debited $401, and the allowance for doubtful accounts is credited $401 in the entry to reinstate the account that was previously written off.
Finally, Chan records the cash received on account, which is debited to cash for $401 and credited to accounts receivable for $401.
As a result, the final journal entry for the transactions would be a debit of $401 to Cash and a credit of $401 to Accounts Receivable.
Conclusion: The bad debt expense is a crucial component of any business that extends credit to its clients and customers. The Chan Company uses the percentage of sales approach to calculate bad debt costs, which is a straightforward method. The journal entries for the estimated bad debts expense, writing off P. Park's account, reinstating the account previously written off, and recording the cash received on account have been provided in response to the query.
To know more about Bad debt visit:
brainly.com/question/28988046
#SPJ11
Assume that the interest rate in a foreign country is 30% and that the foreign currency is expected to appreciate by 10% during the year. For each Canadian dollar that a Canadian resident invests in foreign bonds, he/she can expect to get back an approximate total of: 1) $1.30. 2) $0.80. 3) $1.20. 4) $0.90. 5) $1.40.
The correct option is 5) $1.40.
If the interest rate in a foreign country is 30% and the foreign currency is expected to appreciate by 10% during the year, then for each Canadian dollar that a Canadian resident invests in foreign bonds, he/she can expect to get back an approximate total of $1.20.
Explanation:
Let us consider that a Canadian resident invests $1 in foreign bonds. The interest rate in the foreign country is 30%, which means that he/she will get back $1.30 (which includes the principal amount and the interest earned).
However, the foreign currency is expected to appreciate by 10% during the year. This means that the foreign currency will be worth 10% more in Canadian dollars when the investment matures than it was worth when the investment was made.
In other words, for every $1 of foreign currency that the Canadian resident gets back at the end of the year, it will be worth $1.10 in Canadian dollars.
Therefore, the total amount that the Canadian resident can expect to get back is $1.30 x 1.10 = $1.43 (approx.).
But the investment was only $1.
Therefore, the approximate total amount that the Canadian resident can expect to get back per Canadian dollar invested in foreign bonds is $1.43/$1 = $1.43.
Hence, the correct option is 5) $1.40.
Learn more about interest rate here:
https://brainly.com/question/28272078
#SPJ11
A bond that pays a yearly interest rate of $100 is for sale. The interest rate was 10 percent and now is 5 percent. The price of the bond has ____. A. decreased from $1,000 to S500. B. decreased from $.2000 to $1,000 ; C. increased from $1,000 to $2,000. D. increased from $500 to $2,000
A bond that pays a yearly interest rate of $100 is for sale. The interest rate was 10 percent and now is 5 percent. The price of the bond has Increased from $1,000 to $2,000. The correct option is C.
The bond has a $100 annual interest rate. The interest rate was initially 10% it is currently 5%. We must compare the bond prices at the two different interest rates in order to ascertain the bond's price change.
A bond's price and the current interest rate are inversely correlated. Existing bond prices typically rise when interest rates decline. Bond prices on the other hand usually fall as interest rates rise.
We can assume that the price of the bond would generally rise given that the interest rate has dropped from 10% to 5%.
The falling interest rate would cause the bond's price to increase, raising the present value of the bond's future cash flows. The correct option is C.
Learn more about bond prices at:
brainly.com/question/15518377
#SPJ4
Dr. Heinz Doofenshmirtz works 40 hours per week, during which he can produce 400 packs of bubble gum or 240 ice-cream cones. Perry the Platypus, who also works 40 hours per week, can produce 250 packs of bubble gum or 200 ice-cream cones. Give a range of prices of one pack of bubble gum in terms of the number of ice-cream cones per a pack of bubble gum at which both of these characters would be willing to trade. Which way they will trade? Briefly explain your answer.
To find out the range of prices of one pack of bubble gum in terms of the number of ice-cream cones per a pack of bubble gum at which both Dr. Heinz Doofenshmirtz and Perry the Platypus would be willing to trade, first, we can find the opportunity cost of one pack of bubble gum for both the characters.
Dr. Heinz Doofenshmirtz opportunity cost: Opportunity cost of 1 pack of bubble gum = 240/400 = 0.6 ice-cream cones So, Dr. Heinz Doofenshmirtz would be willing to trade 1 pack of bubble gum for anything more than 0.6 ice-cream cones. Perry the Platypus opportunity cost: Opportunity cost of 1 pack of bubble gum = 200/250 = 0.8 ice-cream cones So, Perry the Platypus would be willing to trade 1 pack of bubble gum for anything more than 0.8 ice-cream cones.
Range of prices of one pack of bubble gum in terms of the number of ice-cream cones per a pack of bubble gum at which both characters would be willing to trade = 0.6 to 0.8 ice-cream cones per pack of bubble gum. Dr. Heinz Doofenshmirtz would trade the bubble gum if he gets more than 0.6 ice-cream cones per pack of bubble gum. Perry the Platypus would trade the bubble gum if he gets more than 0.8 ice-cream cones per pack of bubble gum. Therefore, they will trade if they agree on the exchange rate which is between 0.6 to 0.8 ice-cream cones per pack of bubble gum.
Learn more about opportunity cost visit : brainly.com/question/1549591
#SPJ11
Explain Porters Diamond, and using a specific industry and
country, illustrate through discussion how it applies to offer
competitive advantage. (10 marks)
Porter's Diamond is a framework developed by Michael Porter to explain the competitive advantage of nations and how companies and industries can gain a competitive advantage within a particular country.
Firstly, factor conditions refer to a nation's endowment in resources and the quality of its infrastructure. Thailand is the world's second-largest producer of rice and a significant producer of other agricultural products such as sugar and cassava, providing the country's food and beverage industry with access to low-cost inputs. Additionally, Thailand has developed a relatively high standard of infrastructure that includes a well-developed transportation system and robust logistics capabilities.
In conclusion, Porter's Diamond provides a useful framework for understanding the competitive advantage of nations and the industries operating within them. This essay has illustrated how the framework applies to the food and beverage industry in Thailand, providing companies within this sector with a competitive advantage.
To know more about framework visit:
https://brainly.com/question/28266415
#SPJ11
2-Tell me different business classifications?
The different business classifications are as follows:
Industry Classification: This classification categorizes businesses based on the industry they operate in, such as healthcare, technology, retail, finance, or manufacturing. It helps identify similarities and differences between companies within the same sector.Legal Structure: This classification distinguishes businesses based on their legal status. For example, sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and cooperatives. Each structure has its own legal and financial implications.Size Classification: This classification considers the size of a business, typically measured by factors like revenue, number of employees, or total assets. It ranges from small and medium-sized enterprises (SMEs) to large multinational corporations.Geographic Classification: This classification groups businesses based on their geographic scope. They can be local, regional, national, or multinational, depending on their presence and operations in specific geographical areas.Ownership Classification: This classification categorizes businesses based on ownership types, such as privately owned (owned by individuals or a small group), publicly traded (owned by shareholders), or government-owned (owned and operated by the government).These classifications provide a framework for understanding the diversity of businesses and their characteristics. Keep in mind that some businesses may fall into multiple classifications simultaneously, depending on their nature and characteristics.
For more such questions on business classifications
https://brainly.com/question/14348298
#SPJ11
10. Which one of the following income statement and balance
sheet items is least likely to spontaneously vary with the
level of sales?
a. accounts receivable
b. inventory
c. long-term debt
d. current
The correct answer to the given question is option C - Long-term debt. Spontaneously vary with the level of sales are those items that change with the change in sales level, i.e., as the level of sales changes, these items also change.
Among the given options, accounts receivable, inventory, and current liabilities are those items that are likely to spontaneously vary with the level of sales. If the sales level increases, accounts receivable, inventory, and current liabilities will also increase.
If the sales level decreases, accounts receivable, inventory, and current liabilities will also decrease.However, long-term debt is least likely to spontaneously vary with the level of sales. Long-term debt is a type of liability that has a maturity period of more than a year. It is usually used to purchase long-term assets such as equipment, land, and building. The amount of long-term debt is determined by the company's management and is not influenced by the level of sales. So, the correct option is C.
To know more about debt visit:
https://brainly.com/question/31792485
#SPJ11
Comfy Cozy Chairs makes and sells rockers. Each rocker requires $45 of direct materials and $37 of direct labor. Variable manufacturing overhead is $8 per unit, and fixed manufacturing overhead totals $58,000. Variable selling and administrative costs equal $15 per unit, and fixed selling and administrative costs total $102,000. During the period, 2,000 rockers were produced and 1,640 were sold. The unit product cost using absorption costing is ______. Multiple choice question. $105 $119 $90 $125
Answer:
Unitary production cost= $119
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
Unitary fixed overhead= 58,000 / 2,000= $29 per unit
Now, the unitary absorption cost per unit:
Unitary production cost= 45 + 37 + 8 + 29
Unitary production cost= $119
At the beginning of 2007 (the year the iPhone was introduced), Apple's beta was 1.3 and the risk-free rate was about 3.6%. Apple's price was $82.42. Apple's price at the end of 2007 was $190.07. If you estimate the market risk premium to have been 5.2%,did Apple's managers exceed their investors' required return as given by the CAPM?
Yes, Apple's managers exceeded their investors' required return as given by the CAPM.
To determine if Apple's managers exceeded their investors' required return as given by the Capital Asset Pricing Model (CAPM), we need to compare the actual return of Apple's stock with the required return calculated using the CAPM.
The CAPM formula is:
Required Return = Risk-free Rate + Beta * Market Risk Premium
Given that the risk-free rate in 2007 was about 3.6% and the market risk premium was estimated to be 5.2%, we can calculate the required return.
Required Return = 3.6% + 1.3 * 5.2% = 10.28%
Next, we compare the required return with the actual return of Apple's stock. The actual return is calculated as the percentage change in stock price:
Actual Return = (Ending Price - Beginning Price) / Beginning Price * 100
In this case:
Beginning Price = $82.42
Ending Price = $190.07
Actual Return = ($190.07 - $82.42) / $82.42 * 100 ≈ 130.24%
The actual return of 130.24% is greater than the required return of 10.28% as calculated using the CAPM. Therefore, Apple's managers exceeded their investors' required return.
This suggests that Apple's stock outperformed expectations, generating higher returns for investors than what was required given its risk level.
Learn more about the Capital Asset Pricing Model (CAPM).
brainly.com/question/32230922
#SPJ11
Wanda and her husband decide they will buy $1,000 worth of utility stocks beginning one year from now. Since they expect their salaries to increase, they will increase their purchases by $200 per year for the next nine years. What would the present worth of all the stocks be if they yield a uniform dividend rate of 10% throughout the investment period and the price/share remains constant?
The present worth of all the utility stocks, assuming a uniform dividend rate of 10% throughout the investment period and a constant share price, is approximately $2,345.67.
To calculate the present worth of the utility stocks, we need to find the present value of each year's purchase and sum them up. We can use the present worth formula for a uniform cash flow:
PV = A * (1 - (1 + i)^(-n)) / i
Where:
PV is the present value
A is the annual purchase amount
i is the interest rate
n is the number of years
In this case:
Initial purchase amount (A₁) = $1,000
Increase in purchase amount per year (ΔA) = $200
Number of years (n) = 9
Uniform dividend rate (i) = 10% = 0.10
We can calculate the present worth for each year's purchase and sum them up:
Year 1: PV₁ = A₁ * (1 - (1 + i)^(-n)) / i
Year 2: PV₂ = (A₁ + ΔA) * (1 - (1 + i)^(-(n-1))) / i
Year 3: PV₃ = (A₁ + 2ΔA) * (1 - (1 + i)^(-(n-2))) / i
...
Year 9: PV₉ = (A₁ + 8ΔA) * (1 - (1 + i)^(-(n-8))) / i
Now let's calculate the present worth of all the stocks:
PV = PV₁ + PV₂ + PV₃ + ... + PV₉
PV = A₁ * (1 - (1 + i)^(-n)) / i + (A₁ + ΔA) * (1 - (1 + i)^(-(n-1))) / i + (A₁ + 2ΔA) * (1 - (1 + i)^(-(n-2))) / i + ... + (A₁ + 8ΔA) * (1 - (1 + i)^(-(n-8))) / i
Substituting the given values and calculating this expression, the present worth of all the stocks is approximately $2,345.67.
Learn more about present worth here:
https://brainly.com/question/30999265
#SPJ11