Answer: C. Protect health and income, allow for paid time-off, provide accommodation and enhancement benefits.
Explanation: Benefits or privileges granted to employees or workers which reside outside the mandatory requirement cited by the law are classed as discretionary benefits. And for these reason, discretionary benefits offered to an employee or worker of a certain organization may not be enjoyed by those belonging to other organizations. Discretionary benefits include ; allowances such as health(sick leave) , accommodation, paid time-off for vacations or holidays and other enhancement benefits such as education or research assistance.
Fizzzle Inc. sold a piece of equipment during the period for $230,000 and recorded a gain of $45,000 on the sale. How should this gain be treated when preparing the operating activities section of the statement of cash flows using the indirect method?
Answer:
The gain is subtracted from net income in the operating activities section
Explanation:
Given that
Sale value of an equipment = $230,000
And, the gain on the sale = $45,000
So by considering the above information
We can say that the Sale value of an equipment is shown in the investing activities as a cash inflow while the gain on the sale is to be subtracted from the net income in the operating activities and if there is a loss than it would be added to the net income
Final answer:
When using the indirect method for the statement of cash flows, a gain from the sale of equipment, such as Fizzzle Inc.'s $45,000 gain, should be subtracted from net income to accurately reflect cash generated from operating activities.
Explanation:
When preparing the operating activities section of the statement of cash flows using the indirect method, any gain from the sale of equipment, such as the $45,000 gain reported by Fizzzle Inc., should be subtracted from net income. This adjustment is necessary because the gain is considered an investing activity, not an operating activity. When the indirect method is used, adjustments to net income are made to convert the net income from an accrual basis to a cash basis. Non-cash items, like depreciation and gains or losses on sales of assets, are adjusted because they do not affect cash flow directly. Therefore, the gain of $45,000 would be subtracted from the net income to eliminate its effects and accurately reflect the cash generated from operating activities.
What happens when someone loses a case and still wants to keep fighting?
When someone loses a case and wants to keep fighting, then, his case will be continued to be heard till he exhausted his appeal options.
In judiciary, appeal system is one which allows a defendant to continue to fight for the case he believed is wrong judged by the original court of law.
The appeal court assesses the case of the defendant and also give its judgment on the case.
Then, if the defendant loses in the appeal court, then, he have no choice than to serve the punishment serves by the appeal or original court.
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Even though many valuable, rare, and inimitable resources were generated at Xerox's Palo Alto Research Center (PARC), the management at Xerox's headquarters failed to gain a competitive advantage by exploiting the breakthroughs in computing software and hardware. What is the most likely implication of this example?
Answer:
A firm must be effectively organized to capture value. A firm has to ensure it has a properly ongoing work system where everything balances. Proper marketing and advert, viability in product quality, organized administrative and technical structuring, analysis on probable customer base etc., these and many more factors have to be critically looked into and worked on to gain competitive advantage. What is the competition doing right that we are missing? who are our competition? Why are they the peoples favorite? How can we become the peoples favorite? Questions of these sort if worked on and implemented, will facilitate effective organizational growth.
Answer:
A firm must be effectively organized to capture value.
Explanation:
This tool was originally developed by Barney, J. B. (1991) in his work. Firm Resources and Sustained Competitive Advantage , here some attributes were identified that firm’s resources must possess in order to become a source of sustained competitive advantage. According to him, the resources must be valuable, rare, imperfectly imitable and non substitutable. His original framework was called VRIN.
Stephen Muka owned U.S. Robotics. He hired his brother Chris to work in the company. His letter promised Chris $1 million worth of Robotics stock at the end of one year, "provided you work reasonably hard & smart at things in the next year." (We should all have such brothers.) Chris arrived at Robotics and worked the full year, but toward the end of the year, Stephen died. His estate refused to give Chris the stock, claiming their agreement was a personal satisfaction contract and only Stephen could decide whether Chris had earned the reward. Comment. write your answer in IRAC (Issue, Rule, Application of the rule, and, Conclusion) format.
Answer:
The contract between Stephen Muka and Chris is a person satisfaction contract which is binding
Explanation:
Contracts that are often refer to as personal satisfaction contract for which a promise is involved will make it a subjective personal evaluation of the performance of the one who made the promise.
In the given question,Stephen Muka hired the services of his brother Chris in the company. at the end of the year a letter was given to him with a promise of 1 million of stocks from the company, so long as he will be dedicated in his work, by working smart and hard at things in the coming year.
Chris worked very hard and was dedicated to his work, but unfortunately before the end of the year Stephen had died.
However, the contract between them is a personal one or personal satisfaction contract, but the estate of the deceased comes into the shoes of the deceased after succeeding the company and they know it is binding to them (estate)of the deceased to give him the reward.
Final answer:
The legal issue involves whether the deceased's estate must honor a potentially personal satisfaction contract. The contractual language suggests an objective standard, implying that the estate should fulfill the promise of stock based on a reasonable person's judgement of Chris's work performance.
Explanation:
Issue:
The issue at hand is whether the estate of Stephen Muka is legally obliged to honor the commitment made by Stephen to his brother Chris, wherein Chris was promised $1 million worth of U.S. Robotics stock for working "reasonably hard & smart" over the course of a year, now that Stephen is deceased.
Rule:
In contract law, a personal satisfaction contract is a contract which requires not only the performance of a certain act but also that the performance meet the personal satisfaction of one of the parties to the contract. The question here is whether this contract is an objective (can be satisfied by the standard of a reasonable person) or subjective (dependent on the personal judgement of Stephen) satisfaction contract.
Application of the Rule:
To determine the nature of the contract, one must consider the language of the offer and the nature of the performance. The phrase "reasonably hard & smart" suggests an objective standard of performance that can be judged by a reasonable person's standards, not solely by Stephen's personal satisfaction. Additionally, if the nature of the contract were highly personal, such as judgement on the quality of art or a performance, then it might be considered subjective; however, work effort is generally measured by objective standards.
Conclusion:
Given the objective nature of the performance requested, it is likely that a court would find the contract not to be purely personal to Stephen and that the estate would be required to honor the terms of the contract and provide Chris with the promised stock.
Of the following internal controls, which ones are considered a detective control (as opposed to a preventative control)? Mark all that apply!! There are more than one. Question 21 options: Two people open mail and make a list of checks received. Customers are sent a statement of outstanding balances to confirm they agree (if an employee deposited a payment in their personal account, the customer would argue the outstanding balance). Inventory is kept in locked and secure location with limited access. Preparation of a bank reconciliation each month. Cameras are everywhere and monitors are in public sight so everyone knows they are on camera.
Answer:
1. Preventive
2. Detective
3. Detective / Preventive
4. Preventive / Detective
Explanation:
Two people open mail and make a list of checks received. Preventive
This will prevent any fraud from happening but it serves as checks and balances
Customers are sent a statement of outstanding balances to confirm they agree (if an employee deposited a payment in their personal account, the customer would argue the outstanding balance). Detective
If there has been any fraud of money collected from customers and taken by an employee,it will be revealed
Inventory is kept in locked and secure location with limited access. Preventive
Inventory being stored securely is to prevent theft
Preparation of a bank reconciliation each month. Detective / Preventive
Bank reconciliation will detect any fraud or error, in case employees have diverted deposits into personal accounts it will not reflect in the account. This also serves as a preventive measure because employees will be deterred from fraud if they know that they will be caught at the end of the month when a reconciliation is performed.
Cameras are everywhere and monitors are in public sight so everyone knows they are on camera. Preventive / Detective
Camera's serve as a preventive measure because employees will be deterred from fraud if they know that they will be caught at the end of the period when a CCTV review is performed.
It will also detect any theft in case employees have pilfered inventory or cash into personal belongings when no one was watching.
Answer:
Customers are sent a statement of outstanding balances to confirm they agree (if an employee deposited a payment in their personal account, the customer would argue the outstanding balance). DETECTIVE
Preparation of a bank reconciliation each month. DETECTIVE
Explanation:
The following three options are preventive control activities:
Two people open mail and make a list of checks received. PREVENTIVEInventory is kept in locked and secure location with limited access. PREVENTIVECameras are everywhere and monitors are in public sight so everyone knows they are on camera. PREVENTIVEDetective controls are designed to detect or discover errors, mistakes or fraud, all which have already happened. They are meant to deal with problems once they take place, they are not meant to prevent them. On the other hand, preventive controls are meant to prevents errors, mistakes or fraud from happening. E.g. audits are a type of detective control since they analyze past events, while segregation of duties is a type of preventive control.
A manufacturer of acrylic, latex, and nitrile gloves sells to medical laboratories, factories where employees handle chemicals, companies that manufacture micro-tech equipment, and cleaning services. The company is organized to better satisfy the specific needs of each of its four target markets, so it uses a ________ structure
Answer:
Market manager
Explanation:
Target market can be defined as a group of customers that are interested in purchasing a company products and services.
Identifying the target market is a very important stage, it aids the organization in the development of a marketing plan, lack of this vital information could lead to loss of a large amount of money and time for the business.
Focusing marketing strategies at a particular groups of consumers enables the promotion, pricing, and distribution of products and services a lot more easier and cost effective.
The company described above uses a market manager structure to better satisfy the specific needs of each of its four target markets,
Golf-course designers have become concerned that old courses are becoming obsolete since new technology has given golfers the ability to hit the ball so far. designers, therefore, have proposed that new golf courses need to be built expecting that the average golfer can hit the ball more than 230 yards on average. suppose a random sample of 152 golfers be chosen so that their mean driving distance is 229.9 yards. the population standard deviation is 41.4. use a 5% significance level.
Complete Question:
Golf-course designers have become concerned that old courses are becoming obsolete since new technology has given golfers the ability to hit the ball so far. designers, therefore, have proposed that new golf courses need to be built expecting that the average golfer can hit the ball more than 230 yards on average. suppose a random sample of 152 golfers be chosen so that their mean driving distance is 229.9 yards. the population standard deviation is 41.4. use a 5% significance level.
Calculate the followings for a hypothesis test where H0:μ = 230 and H1:μ < 230 :
(a) The test statistic is _____
(b) The P-Value is _____
The final conclusion is:
Answer:
t - statistic = -0.02977977
p value = 0.488753
There is no sufficient evidence to warrant rejection of the claim that the mean driving distance is equal to 230
Explanation:
Number of samples(n) = 152
Significance level = 5%
sample standard deviation(s) = 41.4
sample Mean (x) = 229.9
H0:μ = 230 and H1:μ < 230
A.) The test statistic can be calculated using the formula;
t = (x - μ) ÷ (s/sqrt(n))
t = (229.9 - 230) ÷ (41.4/sqrt(152))
t = -0.1 ÷ 3.3579834174
t-statistic = -0.02977977
Using the p value calculator on the t-statistic value at a significance level of 0.05;
The p-value is 0.488753
With the p value sufficiently greater than 0.05, There is no sufficient evidence to warrant rejection of the claim that the mean driving distance is equal to 230
Vipsana's Gyros House sells gyros. The cost of ingredients (pita, meat, spices, etc.) to make a gyro is $2.00. Vipsana pays her employees $60 per day. She also incurs a fixed cost of $120 per day. What is Vipsana's total cost per day when she does not produce any gyros and does not hire any workers
Final answer:
Vipsana's Gyros House's total cost on a day with no production and no workers hired is only the fixed cost of $120, which is incurred regardless of the business operations.
Explanation:
Vipsana's Gyros House incurs certain costs every day, regardless of production levels. These costs are known as fixed costs. Without producing any gyros or hiring any workers, Vipsana's total cost per day would be the fixed cost alone, which is $120. Since there are no variable costs associated with production (cost of ingredients) or labor (wages for employees) on a day when no gyros are made and no workers are hired, the total cost remains at the fixed cost amount.
A very hot summer in Atlanta will cause a. the demand curve for lemonade to shift to the left. b. the demand for air conditioners to decrease. c. a movement downward and to the right along the demand curve for tank tops. d. the demand for jackets to decrease.
Answer:
d. the demand for jackets to decrease
Explanation: In the hot summer there is not a need for a jacket therefore less people will buying jackets. The demand goes down.
d. the demand for jackets to decrease.
Impact of WeatherWeather can have an impact on the supply of products and services.Almost every customer buying choice is influenced by the weather. Weather fluctuations can influence the food we consume, the clothes we wear, the automobile we drive, and even the type of house we buy.A very hot summer in Atlanta will cause d. the demand for jackets to decrease.Find out more information about demand here:
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Mattel Inc.’s 2013 financial statements show operating profit before tax of $1,168,103 thousand, net income of $903,944 thousand, provision for income taxes of $195,184 thousand and net nonoperating expense before tax of $68,975 thousand. Assume Mattel’s statutory tax rate for 2013 is 37%. Mattel’s 2013 tax shield is:
Answer:
$25,521 thousand
Explanation:
Mattel Inc.’s
Tax shield = Net nonoperating expense before tax × statutory tax rate
Therefore :
= $68,975 × 37% = $25,521 thousand
If we assumed that Mattel’s statutory tax rate for 2013 is 37% then Mattel’s 2013 tax shield will be $25,521 thousand.
Options:
A) $ 43,454 thousand
B) $ 25,521 thousand
C) $ 264,159 thousand
D) $ 238,638 thousand
E) None of the above
Answer:
B) $ 25,521 thousand
Explanation:
Tax shield refers to reductions in taxable income that a corporation can claim based on allowable deductions. Tax shields lower the amount of total taxes owed. This applies to both businesses and individuals.
Tax shield is calculated by multiplying the taxable expense by the company's current tax rate. In this case, the company's expense that reduces taxes is $68,975 thousand (non-operating expenses).
Tax shield = $68,975 x 37% = $25,520.75 ≈ $25,521 thousand*
*Mattel's financial statements are expressed in thousands of dollars, $25,520.75 would be equal to $25,520,750.
You're a partner at O'Leary, Ford, and Bradley Legal Services, and one of your responsibilities is to get new business for your law firm. You've heard from a friend that a mid-sized corporation in your city has terminated their agreement with their old law firm and is looking for a new one that's a better fit for their needs. What do you expect them to do next, and how should you respond
Answer:
do your ownwork aha
Explanation:
A mid-sized corporation looking for a new law firm is likely to evaluate potential firms based on their needs. As a partner at O'Leary, Ford, and Bradley Legal Services, you should reach out with a targeted proposal demonstrating your ability to meet their unique legal needs, using past examples and highlighting specific expertise.
Explanation:In this scenario, the mid-sized corporation is likely to start evaluating potential legal services according to their specific needs. The corporation might create a list of potential law firms, conduct initial research about their performance, reputation, and expertise in the relevant fields, and arrange initial consultations or meetings.
As a partner at O'Leary, Ford, and Bradley Legal Services, your role would be to reach out to the corporation proactively. You can do this by preparing a proposal that outlines what your firm specializes in and how you might address their unique legal needs. This proposal might include examples of past work with similar corporations, specific expertise your firm offers, or unique solutions you've provided to similar legal issues. It's essential to convey your firm's ability to bring value and offer legal support that aligns with the company's needs and goals.
Presentation and communication also play a critical role. Remember, the goal is to convince them that your firm is the better option and that you understand their business and can meet their expectations.
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When a government program is justified not on its merits but on the number of jobs it will create:___________. a. the program is an efficient use of taxpayer dollars. b. it should be approved only if the unemployment rate is low. c. taxes should be raised to fund the program. d. it is known as the "broken window fallacy."
Answer: it should be approved only if the unemployment rate is low
Explanation: Unemployment can be defined as the level of joblessness in an economy, often measured as a percentage of the workforce.
Unemployment has a lot of disadvantages both to an unemployed individual, and the Society at large. It leads to poverty. Another is that it leads to depression, low self-esteem, anxiety and other mental health issues, especially if an individual truly wants a job but can't find employment. These are just some of the few disadvantages of unemployment in a society. According to the doctrine of double effect, the outcome of this government can be justified because the outcome is good.
Define macro environment
Answer:
A macro environment is the condition that exists in the economy as a whole, rather than in a particular sector or region. In general, the macro environment includes trends in the gross domestic product (GDP), inflation rate , employment rate, spending, and monetary and fiscal policy. The macro-environment is linked to the general business cycle as opposed to the performance of an individual business sector in an economy.
Explanation:
The macro-environment refers to how the macroeconomic conditions in which a company or sector operates influences its performance. Macroeconomics deals with aggregate production, spending, and the price level in an economy as opposed to individual industries and markets.
The amount of the macro environment's influence depends on how much of a company's business is dependent on the health of the overall economy. Cyclical industries are heavily influenced by the macro environment, while basic staple industries are less influenced. Industries that are highly dependent on credit to finance purchases and business investments are strongly influenced by changes in interest rates and global financial markets.
The macro-environment can also directly affect consumers’ ability and willingness to spend. Luxury goods industries and big-ticket consumer goods can be highly impacted by fluctuations in consumer spending. Consumers’ reactions to the broad macro-environment are closely monitored by businesses and economists as a gauge for an economy’s health.
The macro environment refers to larger societal forces affecting an organization's operating environment, including political, economic, social, technological, legal, and environmental factors. This contrasts with a microenvironment, which refers to the immediate operational factors a business faces.
Explanation:The macro environment refers to the broad conditions or structures in society that impacts an organization's operating environment.
It includes factors beyond the business's control such as political, economic, social, technological, legal, and environmental aspects, often summarized as PESTLE analysis.
In contrast to a microenvironment that constitutes immediate operational factors like employees, customers, and competitors, the macro environment comprises influences that affect all organizations operating in an industry or economy.
For example, if you're studying economics or observing some natural setting like a lake, the 'macro' insights could entail understanding the overall economic condition or the food chain.
These macro insights help explain the environment in which individual businesses, plants, and animals must operate or adapt to.
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A company has a selling price of $1,550 each for its printers. each printer has a 2 year warranty that covers replacement of defective parts. it is estimated that 2% of all printers sold will be returned under the warranty at an average cost of $145 each. during november, the company sold 25,000 printers, and 350 printers were serviced under the warranty at a total cost of $50,000. the balance in the estimated warranty liability account at november 1 was $26,500. what is the company's warranty expense for the month of november?
Answer:
$72,500
Explanation:
The computation of warranty expense is shown below:-
Estimated Printers returned = Printers Sold × Estimation of the returned printer under the warranty
= 25,000 × 2%
= 500
Warranty Expenses = Estimated Printer to be returned × Average Warranty Cost
= 500 × $145
= $72,500
Therefore for computing the warranty expense we simply applied the above formula.
The ________ component of the consumer decision-making model draws on external influences as sources of information about a particular product that influence a consumer's product-related values, attitudes, and behavior.
Answer:
Input
Explanation:
The input component of the consumer decision-making model draws on external influences as sources of information about a particular product that influence a consumer's product-related values, attitudes, and behavior.
These input factors are known as the marketing mix activities of organizations that try to communicate the benefits of their products and services to potential consumers
The external component of the consumer decision-making model represents external influences that impact a consumer's product-related values, attitudes, and behavior.
Explanation:The external component of the consumer decision-making model draws on external influences as sources of information about a particular product that influence a consumer's product-related values, attitudes, and behavior.
These external influences can include various factors such as advertising, word-of-mouth, reviews, and social media. For example, a consumer may be influenced by a celebrity endorsement or positive online reviews when making a purchasing decision.
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Ryngaert Inc. recently issued noncallable bonds that mature in 15 years. They have a par value of $1,000 and an annual coupon of 5.7%. If the current market interest rate is 6.8%, at what price should the bonds sell?
$844.62
$979.40
$736.80
$1,006.36
$898.53
Answer:
$898.54
Explanation:
The Price of the Bonds is equal to the Present Value or Fair Value of the Bonds.
Using the Financial Calculator, Input elements will be as follows :
N = 15
pmt = $1,000 × 5.7% = $57
YTM / i = 6.8%
Fv = $1,000
Pv = ?
Pv = $898.54
The Coupon rate is lower than the market rate thus the Bonds will fetch a lower price.
On January 1, Year 1, Friedman Company purchased a truck that cost $29,000. The truck had an expected useful life of 200,000 miles over 8 years and an $7,000 salvage value. During Year 2, Friedman drove the truck 37,000 miles. The amount of depreciation expense recognized in Year 2 assuming that Friedman uses the units-of-production method is: (Do not round intermediate calculations.)
Answer:
The depreciation expense for the Year 2 amounts to $4,070
Explanation:
The method of unit of production is the depreciation method which computes the value of the asset over time.
The depreciation expense for the Year 2 is computed using the method of units of production as:
Depreciation expense = [(Truck cost - Salvage value) / Estimated miles] × Miles driven during year
where
Miles driven during year is 37,000
Truck cost is $29,000
Salvage value is $7,000
Estimated miles is 200,000 miles
So, putting the values above:
Depreciation expense = [($29,000 - $7,000) / 200,000] × 37,000
Depreciation expense = [$22,000 / 200,000] × 37,000
Depreciation expense = $0.11 × 37,000
Depreciation expense = $4,070
Final answer:
The depreciation expense for Friedman Company's truck in Year 2, calculated using the units-of-production method, is $4,070.
Explanation:
To calculate the amount of depreciation expense recognized in Year 2 using the units-of-production method for Friedman Company's truck, we will use the following information: the cost of the truck ($29,000), the expected useful life in miles (200,000 miles), and the salvage value ($7,000). First, we calculate the depreciation per mile by subtracting the salvage value from the cost and then dividing by the total expected miles:
Depreciation per mile = ($29,000 - $7,000) /200,000 miles = $0.11 per mile.
Next, we multiply the depreciation per mile by the total miles driven in Year 2:
Depreciation Expense for Year 2 = 37,000 miles × $0.11 per mile = $4,070.
Therefore, the depreciation expense for Year 2 is $4,070.
A business maintains subsidiary accounts for each of its customers. On May 15, the business provides services on account: $1,900 to customer J. Anthony; $4,900 to customer A. Martin; and $1,300 to customer S. Lee. Which journal entry is needed to record these transactions on May 15 (Choose the best answer)? A) May 15: debit Accounts Receivable $8,100; credit Service Revenue $8,100B) May 15: debit Accounts Receivable-J. Anthony $1,900, A. Martin $4,900, S. Lee $1,300; credit Service Revenue $8,100C) May 15: debit Service Revenue $8,100; credit Acct. Rec. $8,100D) May 15: debit Accts. Rec. Control $8,100; credit Sales Revenue $8,100May 15: debit Accts. Rec.-J. Anthony $1,900, A. Martin $4,900, S. Lee $1,300; credit Accts. Rec. Control $8,100
Answer:
B
Explanation:
The option B is correct because in individual subsidiary accounts, each customer entry will be separately made and total sales revenue will be recorded.
Answer:
B) May 15: debit Accounts Receivable-J. Anthony $1,900, A. Martin $4,900, S. Lee $1,300; credit Service Revenue $8,100
Explanation:
customer J. Anthony ⇒ $1,900 customer A. Martin ⇒ $4,900customer S. Lee ⇒ $1,300total sales reported during May 15 = $8,100
A subsidiary ledger account is an individual account set for a specific client that is part of a general ledger account. In this case, the individual ledger accounts are part of the accounts receivable account.
You can record each transaction individually or jointly:
May 15, services provided on account:
Dr Accounts receivable - J. Anthony 1,900
Cr Sales revenue 1,900
May 15, services provided on account:
Dr Accounts receivable - A. Martin 4,900
Cr Sales revenue 4,900
May 15, services provided on account:
Dr Accounts receivable - S. Lee 1,300
Cr Sales revenue 1,300
or
May 15, services provided on account:
Dr Accounts receivable - J. Anthony 1,900
Dr Accounts receivable - A. Martin 4,900
Dr Accounts receivable - S. Lee 1,300
Cr Sales revenue 8,100
Dapper Corporation had only one job in process on May 1. The job had been charged with $3,400 of direct materials, $4,640 of direct labor, and $9,200 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $23.00 per direct labor-hour. During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance $ 8,500 Purchased during the month $42,000 Used in production $48,500 Labor: Direct labor-hours worked during the month 2,200 Direct labor cost incurred $25,520 Actual manufacturing overhead costs incurred $52,800 Inventories: Raw materials, May 30 ? Work in process, May 30 $32,190 Work in process inventory on May 30 contains $7,540 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The balance in the raw materials inventory account on May 30 was:
Answer:
Inventories:May 30 Raw materials, $2000
Explanation:
Dapper Corporation
Beginning balance $ 8,500
Purchased during the month $42,000
Less Ending Inventory= $ 2000
Used in production $48,500
We add Beginning Bal Raw Material with the purchases and subtract the material used in production to get the Ending inventory of Raw Materials 30 May.
Ending Inventory= Beginning Balance + Purchases - Used Material
Ending Inventory = $ 8,500 + $ 42000- $ 48,500
Ending Inventory= $ 50,500 - 48,500
Inventories:May 30 Raw materials, $2000
During the year, Swifty Corporation made an entry to write off a $33900 uncollectible account. Before this entry was made, the balance in accounts receivable was $423000 and the balance in the allowance account was $32500. The accounts receivable amount expected to be collected after the write-off entry was
Answer:
The accounts receivable amount expected to be collected after the write-off entry was $390,500.
Explanation:
Account Receivable Balance = $423,000
Less: Allowance Account Balance = $32,500
New Account Receivable Balance = $390,500
Since the write off entry was not made and there is an account for allowance of uncollectible account so at that the entry was made as follows:
Debit: Account Receivable $32,500
Credit: Uncollectible account expense $32,500
To record uncollectible expense.
Since we are certain that $32,500 will not received and recorded as bad debt so we simply deduct this amount from account receivable balance to derive new balance as shown above.
Suppose that Walgreens (a major drug store chain) wants to introduce its own brand of cough medicine that is similar in contents and packaging to a national brand, but at a lower cost. What kind of brand would Walgreens be introducing
Answer:
Private label brands
Explanation:
Private label brands are products that are manufactured by a company and sold to another company. They tend to be cheaper and gives retailer a higher profit margin. Ot is a situation whereby an individual makes a contract with a manufacturer to produce a product that meets the individual specifications. Private brand helps in expanding product line, allows control over marketing and allows retailers tailor a product to local needs and taste.
Answer: Walgreen will be introducing a 'perfect substitute' cough brand of the national brand.
Explanation: good or services brand that offer the same services and satisfy the same want with a pre-exiating brand is a perfect substitute for the existing brand.
Reda is looking for a home equity loan. What factors should she look at when deciding which loan is best for her/11984163/ea85bca1?utm_source=registration
Answer:
1. Interest rate
2. she has to check what kind of home equity loan she wants. Fixed rate loan or home equity line of credit.
3. Reda has to check if the loan is serviceable.
Explanation:
1 First of all Reda has to take a good look at the interest rates. The loan with the lowest interest rate is the best to go for. The loan she can pay over in a short period of time.
2 Reda should also know the kind of home equity loan she is applying for.
Fixed rate loan:
This gives her a single payment amount. It has to be repaid at an agreed period of time at an agreed interest rate. The payment and loan are the same throughout the period of the loan.
Home equity line of credit:
This works like a credit card and may come with one in some cases. Reda would be pre-approved for a particular spending limit and she can make withdrawal whenever she needs money through the credit card. Monthly payment differs on borrowed money and the current interest rate.
3. She has to consider her ability to service the loan. She has to make sure her income monthly is able to meet the loan obligation. Otherwise the home would be at risk.
4. She has to compare the rates of the loan institutions that are offering her a loan.
When the tasks and authority associated with various positions in the organization are clearly specified, it creates a scenario where: a) employees can be held strictly accountable for their actions. b) managers face difficulty in tracking the assigned tasks. c) order and discipline are undermined. d) confused employees create havoc within the formal hierarchy of authority. e) employees are not sure of what is expected of them.
Answer:
A) employees are held strictly accountable for their actions.
Explanation:
When tasks are given specifically as well as authority to various positions, persons holding those positions will be held accountable for inquiries or issues that may arise from those specific positions. For example, a bread factory has a unit headed my John who is in charge of creative the bread tag, if the tag is done wrongly, or is being delayed, the management instantly knows who to question.
Answer:
employees are held strictly accountable for their actions.
Explanation:
A Michigan State University student spends his summer months in his hometown, where he works for a local microbrewery during the evening hours. In the late morning, he attends the local community college, where he takes summer courses that he knows will transfer back to MSU. Although he finds the courses just as challenging as at his regular university, he does not worry about his summer grades affecting his 3.2 (out of 4.0) grade point average, because MSU accepts only the transfer credits. As long as he receives C grades or better, he maintains his current grade point average. Which of the following theories suggests that the student will work only as hard as necessary to earn a C grade
Answer:
Expectancy Theory
Explanation:
Expectancy Theory is a motivation theory that explains that people could act in a particular way not because they want to but because of what they are expecting. Hence, they are not driven by the means but by the end result.
In summary, behavior is being motivated by reward expected.
In the scenario, it is stated that ''As long as he receives C grades or better, he maintains his current grade point average.'' The student will therefore strive to be put in average efforts that will at least earn him a C so that he can transfer back to MSU to avoid a drop in his grade point average otherwise he will unwilling to even attend the local community college.
Options:
Expectancy Theory
Objective-setting Theory
Equity Theory
Maslow’s Theory
Answer:
Expectancy Theory
Explanation:
I guess that this is a great example regarding Vroom's Expectancy Theory, since the student is trying to maximize his benefits while minimizing his efforts (or pains if you want).
Actually if Vroom would have been born a couple of centuries earlier, he would probably be considered one of the fathers of classical economics. One of the pillars of economics is that individuals are rational and they will all seek to maximize their benefits while reducing their costs.
Instead of economics, Vroom's theory focuses on employee motivation and how a company is basically the sum of each individual employee's performance. That is why it is so important to motivate employees and make them want to perform better.
In this case, the student knows he can get some extra credit by taking classes in a local community college that isn't as demanding as MSU. Since MSU only requires the transfer credits, the student knows that he doesn't need to worry about his grades. He is actually a fairly good student (3.2 average) and smart enough to know that a little extra effort during summer vacations can help him graduate earlier.
The ad for the Disney Institute at Walt Disney World describes vacations during which an individual can immerse him or herself in the joys of gardening for a week and take classes with horticulturists. This is an example of _____ segmentation.
Answer:
Psychographic
Explanation:
Psychographic segmentation is the method which is used for the group prospective, previous or present customers through their shared traits of the personality, lifestyles, beliefs, attitudes, values and other factors.
Under the marketing aspect, this segmentation is a form which divides the consumers into sub- groups grounded on the shared characteristics involving conscious beliefs, priorities and motivations to define as well as predict the behavior of consumer.
So, in this case, the Disney institute explained or stated the example of the psychographic segmentation or method.
Answer:
Psychographic
Explanation:
A company has $100,000 in "outstanding accounts receivable" and it uses the allowance method to account for uncollectible accounts. Experience suggests that 4% of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful accounts is a(n) $900 debit. The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for:
A. None of these is correct.
B. $4,000
C. $3,100
D. $4,900
E. $900
Answer:
D. $4,900
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales.
Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt.
Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Amount of uncollectible debt estimated
= 4% * $100,000
= $4,000
This represents what the balance in the allowance for doubtful debt account should be at the end of the period. Since the account has a debit of $900, the amount to be posted will be a credit of
= $4,000 + $900
= $4,900
The corresponding debit entry will be posted to bad debts expense.
Suppose the marginal cost of the 1st hour of talking on the phone is $50, the marginal cost of the 2nd hour is $75, and the marginal cost of the 3rd hour is $105. In this case, the total cost of talking on the phone for 3 hours is:
Answer:
$230
Explanation:
Data given in the question
Marginal cost of the first hour = $50
Marginal cost of the second hour = $75
Marginal cost of the third hour = $105
So by considering the above information, the total cost is
= Marginal cost of the first hour + Marginal cost of the second hour + Marginal cost of the third hour
= $50 + $75 + $105
= $230
We simply added the marginal cost of all three hours in order to determine the total cost
Matthew's baseball coach is helping him improve his hitting. During practice the coach has the pitcher throw fast balls, curve balls, and sliders so that Matthew experiences a variety of pitches, and will be more likely to hit the ball successfully during a game. Which strategy for promoting generalization is the coach using?
Answer:
The strategy is to Incorporate a variety of relevant stimulus situations in training.
Explanation:
The strategy Mathew's baseball coach is using is to Incorporate a variety of relevant stimulus situations in training.
With this training, Mathew's stimuli response during a game is going to be according to stimuli situations he received in training. The coach is using a strategy for promoting generalization training using sufficient stimulus exemplars. If Mathew is trained to respond correctly to a range of relevant stimulus situations (stimulus exemplars) it would be more likely for him to generalize to all relevant stimulus situations during a game
Matthew's coach is using a strategy known as stimulus generalization. Using a variety of pitches helps Matthew generalize his hitting behavior to different pitch types, improving his success in games.
Explanation:In the situation described, Matthew's baseball coach is using a strategy known as stimulus generalization to help him improve his hitting. Stimulus generalization is when a behavior learned in response to a specific stimulus becomes associated with other similar stimuli, leading to the same behavior being triggered by these similar stimuli. In this case, by practicing with a variety of pitches (fast balls, curve balls, sliders), Matthew's coach is helping him to generalize his hitting behavior to any kind of pitch he might face in a game, increasing his likelihood of successful hits.
Learn more about Stimulus Generalization here:https://brainly.com/question/31558116
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Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that when the firm hires 4 workers, the firm produces 50 units of output. If the fixed cost of production is $4, the variable cost per unit of labor is $20, and the marginal product of labor for the fifth unit of labor is 2, what is the average total cost of production when the firm hires 5 workers
Answer:
$2
Explanation:
Average total cost is the total cost of production, both variable and fixed cost divided by the no of units produced.
When hired worker = 4 ,
Production = 50 units.
Fixed cost of production = $4
Variable cost of production = $20 ( note that the only variable input is labor)
Marginal product for the 5th labor =2 ( total unit becomes 52)
Average total cost =
(5 *20) + 4 /52 =2
Answer:
average total cost = $2 per unit
Explanation:
number of workers total output total variable costs
4 50 $80
5 52 $100
fixed costs = $4
average total cost when firm hires 5 workers = total costs / total output = ($100 + $4) / 52 = $104 / 52 = $2 per unit
Marginal product of labor is the extra output generated by employing one additional unit of labor.
Replay Sports Stores and SportsPower Products, Inc., enter into a contract for a sale of trampolines. SportsPower Products is a merchant who deals in goods of the kind sold. Under the UCC, an implied warranty of merchantability arises _________.
A) automaticallyB) only if the buyer asks for such a warranty.C) only if the seller expresses such a warranty.D) only in conjunction with lease contracts, not sales contracts.
Answer:
A) automatically
Explanation:
Under the regulation created by the Uniform Commercial code, all merchants are expected to provide their goods with reasonable level of quality.
Even if those merchant do not directly stated that they will provide warranty, they're required to exchange the goods if the customers can proof that the goods are below reasonable level of quality. This is the reason why it's called 'implied' warranty.
Answer:
The correct answer should be A) automatically
Explanation: