Eastport Inc. was organized on June 5, 2018. It was authorized to issue 380,000 shares of $11 par common stock and 25,000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share.
The following stock transactions pertain to Eastport Inc.:
1. Issued 15,000 shares of common stock for $12 per share.
2. Issued 5,000 shares of the class A preferred stock for $51 per share.
3. Issued 60,000 shares of common stock for $15 per share.
Required:
a. Prepare general journal entries for these transactions.
b. Prepare the stockholders' equity section of the balance sheet immediately after these transactions.
Answers
Answer:
Dr cash $180,000
Cr common stock $165,000
Cr paid-in capital in excess of par value-common stock $15,000
Dr cash $255,000
Cr preferred stock $125,000
Cr paid-in capital in excess of par -preferred stock $130,000
Dr cash $900,000
Cr common stock $660,000
Cr paid-in capital in excess of par value-common stock $240,000
Stockholders' equity
Common stock $11 par,380,000 authorized,75,000 issued ($165,000+$660,000) $825,000
Preferred stock $25 par,25,000 authorized,5,000 issued $125,000
Total par value $950,000
paid-in capital in excess of par value-common stock
($15,000+$240,000) $255,000
paid-in capital in excess of par -preferred stock $130,000
Total stockholders' equity $ 1,210,000
Explanation:
The issue of 15,000 shares of common stock for $12 each means that cash proceeds of $180,000 (15,000*$12) which is debited to cash and common stock is credited with $165,000 (15,000*$11) while the remaining $15,000 is credited to paid-in capital in excess of par value-common stock
The issue of 5,000 shares of preferred stock for $51 each means that cash proceeds of $ 255,000 (5,000*$51) which is debited to cash and preferred stock is credited with $125,000 (5,000*$25) while the remaining $130,000 is credited to paid-in capital in excess of par value-preferred stock
The issue of 60,000 shares of common stock for $15 each means that cash proceeds of $900,000 (60,000*$15) which is debited to cash and common stock is credited with $660,000 (60,000*$11) while the remaining $ 240,000 is credited to paid-in capital in excess of par value-common stock
Related Questions
Most people are aware of someone at school or at work with whom they don’t really associate. Pick someone in your school that you may have classes with but don’t really know. Write down what you think you know about him or her. Then interview that person and write a response about what you have learned. Write an additional paragraph at the end discussing how taking the time to get to know someone can make a difference.
Answers
Answer: Taking your personal time to let someone know makes you know a lot about him, you will also come to know about some good relevant things along with things with which you are not comfortable, you just have to focus on the good portion.
Explanation: Here is a real-life experience of mine that I am sharing. In my school days, I have a friend let his name is x. I have bad thoughts about him because I don't know him personally, just sometimes we usually talk about academics. I have so many bad thoughts about him. But things changed when I personally came to know him. In fieldwork he is in my team, so we have to work as a team and have a good coordination with each other. I started to know him from deep inside, how he thinks about others, how he thinks about himself along with how he thinks about me. Things went too far we both became good friends, he shared many things to me. He said about his role in part-time job which he does after his school or his school breaks and said to me to also work with him. I also learned about making graphical designs in which he was an expert. He always motivated me to do good things. But as I said there will be also bad portions, I am not mentioning those bad portions, but trust me everyone has a bad portion just ignore that portion and don't judge him for that.
Knowing someone can make you build a strong character you came to know about many such things which you don't even know, but he or she does. You came to know about skills that you can also implement on yourself.
suon
Select the best answer for the question
7. The company's goal is to earn $5 profit for every sale that's made in its stores. Which key performance indicator can be used to measure the results of this goal?
OA. Number of sales per employee
OB. Profit made per sale
OC. Overall company growth
OD. Number of sales per day
Answers
You would see the profits by sale and try to increase it to $5 therefore option B is correct.
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All Board of Directors members have 3 fundamental duties a)duty of care, b)duty of loyalty, c) duty of obedience. If any 2 or more of these duties become in conflict which duty should take precedence over the other(s) and why?
Answers
Duty of care should take precedence over the other, Section 174: According to prior case law, directors have a responsibility to use reasonable care, skill, and diligence.
What is the key responsibility of the board of directors?The board of directors of a public business are elected by the shareholders, and its main duty is to protect the interests of the shareholders. In fact, directors are obligated by law to prioritize the interests of shareholders before their own.
A nonprofit board member is required to uphold the organization's compliance with relevant laws and regulations, conduct itself in accordance with its own policies, and effectively carry out its mission as part of their duty of obedience.
Thus, Duty of care should take precedence over the other.
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A Notary Signing Agent with nearly 10 years experience has reviewed and is completely familiar with all the documents in a loan package. When meeting with the borrower, the Notary Signing Agent may now:
Answers
Ask the name and purpose of the Loan documents as A Notary Signing Agent with nearly 10 years experience has reviewed and is completely familiar with all the documents in a loan package.
What is a loan package?Loan package is the documentation and the business plan that provides loan or money on installation to the lender to review to analyze whether the loan has been approved or not. It takes a lot of rime in approving a loan as bank has to see the backgrounds and other information.
Thus, Ask the name and purpose of the Loan documents
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Company X sent Company Y a letter as an offer to sell 10 tons cotton for US$200,000.
After receiving the letter, Company Y immediately sent a telegram to Company X
purporting to accept the offer. However, the telegram company erroneously delivered
the telegram to Company Z. Five days later, the market price of cotton increased a lot.
Company X mailed a letter to company Y to revoke the original offer. The letter of
revocation was received by Company Y. Is there any contract between Company X and
Company Y?
Answers
There is no contract between Company X and Company Y. In order for a contract to be valid, there must be an offer, acceptance, and consideration, but in this case, there was no acceptance because the telegram did not reach the offeror and the offer was withdrawn before acceptance was communicated to the offeror.
According to the case study presented, there is no valid contract between Company X and Company Y. The reason is that acceptance must be communicated to the offeror and the acceptance must be received by the offeror. In this case, Company Y's purported acceptance was not received by Company X because it was erroneously delivered to Company Z.
Moreover, the general rule is that a revocation is effective upon receipt. Therefore, since Company Y received the revocation letter from Company X, it means that Company X has withdrawn the offer. Therefore, there is no contract between Company X and Company Y.
To conclude, in order for a contract to be valid, there must be an offer, acceptance, and consideration, but in this case, there was no acceptance because the telegram did not reach the offeror and the offer was withdrawn before acceptance was communicated to the offer.
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What is the accrual method of accounting?
Answers
Before payments are collected or given, revenues and expenses are recorded using the accounting approach known as accrual accounting.
What is the accrual method of accounting?A corporation can use accrual accounting, a financial accounting technique, to record revenue before receiving payment for goods or services sold and expense data as it is incurred.
In other words, regardless of when money changes hands, the revenue made and expenses incurred are recorded in the company's journal. Cash basis of accounting, which records revenue when the products and services are actually purchased, is sometimes contrasted with accrual accounting.
Some examples of accrual accounting are sales on credit, purchases on credit, rent paid, and so on
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reflect on the connection between knowledge concepts for courses they are enrolled for the current semester and how those have been, or could be, applied in the workplace
Answers
The connection between knowledge concepts for courses that are enrolled in the current semester and how they can be applied in the workplace are related to the humanistic worldview.
In humanistic teaching theory, the student is perceived as a being of holistic development, that is, different areas of teaching such as mathematics, social studies, science and languages, will contribute to their total development.
Therefore, some characteristics that can be developed through holistic teaching are critical thinking, technical knowledge, integration, cooperation, interpersonal relationships, ethics, responsibility, and other characteristics that can be applied in the workplace.
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ABC Insurance Company transfers part of their risk to XYZ Insurance Company. This situation is called
Answers
This situation is called Reinsurance.
Reinsurance is a situation where an insurer passes on its risk to another insurance company so that it does not have to pay to settle a huge insurance claim should such a situation arise.
Advantages of this include:
the insurance company suffers less risk exposure and, the insurance company can take on more risk in other areasIn conclusion, reinsurance allows an insurance company to pass on some risk to another insurance company.
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4) (Economies of Scale) Suppose a firm has chosen its quantity so that its marginal cost is equal to the market price, and is making positive profits because its revenues exceed its costs. Is this firm operating in a range where it production exhibits economies of scale or diseconomies of scale
Answers
Answer:
The firm is operating in a product range that exhibits diseconomies of scale. A further explanation is given below.
Explanation:
The company operates within a target area where there have been efficiency gains throughout production. Since the company makes benefits and opportunities, which means that the profitability outweighs the amount, the price could perhaps outweigh the estimated price at either the amount of development. As well as the valuation is equivalent to the cost, and marginal cost should therefore significantly increase the overall value.Researchers understand exactly this because when market forces are already in place, marginal cost is already below the estimated price, such that, marginal cost would be below the estimated price. After all, once government subsidies have been in place because when efficiency gains are in place, marginal cost should be above total value, which indicates that sometimes marginal cost exceeds average cost whenever economies of level have been in place.Which secondary effect of advertising refers to a change in the customer’s opinion of the product over a period of time?
Answers
impact of strategy evaluation and control in gaining competitive advantage
Answers
Answer:
Explanation: For the better part of a decade, strategy has been a business buzzword. Top executives ponder strategic objectives and missions. Managers down the line rough out product/market strategies. Functional chiefs lay out “strategies” for everything from R&D to raw-materials sourcing and distributor relations. Mere planning has lost its glamor; the planners have all turned into strategists.
A. Think of a product and describe the stages of production the product goes through.
Answers
Complete the following table:
Exhibit 15-1 Disposable income and consumption data Income (Y) Change in Disposable Income Consumption (C) 0 500 1,000 1,000 1,400 2,000 1,000 2,200 3,000 1,000 2,900 4,000 1,000 3,500 5,000 1,000 4,000 In Exhibit 15-1, when disposable income is increased from $2,000 to $3,000 to $4,000,
Answers
Answer: e. the marginal propensity to consume decreases from 0.7 to 0.6
Explanation:
Calculate the marginal propensity to consumer when the disposable income is increased from $2,000 to $3,000 to $4,000.
The Marginal propensity to consume is calculated by the formula:
= Change in consumption / Change in income
When disposable income increased from $2,000 to $3,000.
= (2,900 - 2,200) / (3,000 - 2,000)
= 0.7
When disposable income increased from $2,000 to $3,000.
= (3,500 - 2,900) / (4,000 - 3,000)
= 0.6
The marginal propensity to consume decreased from 0.7 to 0.6.
Ben owns a shoe store. He has a new line of limited-edition running shoes that he will be selling in his store soon. The cost of manufacturing the shoes was $18 per pair, and he wants to make a 20% profit on each pair he sells. What is Ben's selling price? Question 2 options: 22.50 11.80 26.05 44.00
Answers
Ben's selling price on the pair of shoes if he wants to make a profit of 20% is $21.60.
What is the selling price?Profit is earned when the difference between the cost price and the selling price of a good or service is positive.
Profit = selling price - cost price
Selling price = cost price + (100% + percentage profit)
$18 + (100% + 20%)
$18 + 120%
$18 x 1.20 = $21.60
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Answer:$21.60
Explanation:
Many big box stores offer “Same as Cash for 12 Months”. What is the implied interest rate here? What is the “catch”, if there is one? Do some research if needed.
Answers
Answer:
"Same as Cash for 12 Months" is a type of financing option offered by big box stores that allows customers to purchase goods and pay them off over a 12 month period without incurring any interest. The implied interest rate in this case is 0%. However, there is usually a "catch" with this type of financing option. The catch is that if the customer does not pay off the balance in full within the 12 month period, they will be charged retroactive interest on the entire balance at a high rate, usually above 20% annually. So it is important for the customer to pay off the balance on time or else they will end up paying much more than the original purchase price. Additionally, some stores may also require a down payment or have other terms and conditions that may not be favorable. It is recommended for customers to read the fine print and understand the terms and conditions before availing this offer.
1. Billy’s Hamburger Barn has a single drive-up window.
Currently, there is one attendant at the window who takes
the order (30–40 seconds), gathers up the food and bags
it (30–120 seconds), and then takes the customer’s money
(30–40 seconds) before handing the food to the customer.
a. (**) Map the current process. What is the minimum
cycle time? The longest cycle time?
b. (***) Suppose Billy’s Hamburger Barn redesigns the
process described in problem 11 so there are now two
attendants. The first attendant takes the order. Once
this step is finished, the first attendant then takes the
money, and the second one gathers up and bags the
food. If two of the process steps can now run in parallel (gathering the food and taking the money), what
is the new minimum cycle time? What is the longest
cycle time? What potential problems could arise by
splitting the process across two individuals?
Answers
Billy’s Hamburger Barn has a single drive-up window. Currently, there is one attendant at the window who takes
1 minute 40 seconds is the bare minimum cycle time.
2 minutes and 35 seconds is the longest cycle time.
1 minute and 15 seconds is the new minimum cycle.
2 minutes is the new longest cycle time.
The potential issue with separating the procedure is that once the consumer has finished paying, they will likely have to wait for the second attendant to finish packaging for between 30 and 55 seconds, which will result in a backlog.
Making sure that collecting payment and packaging take equal amounts of time could address the issue.
Cycle time minimum: 20 + 55 + 25 = 100
= 1 minute and 40 seconds
The longest cycle time was 2 minutes and 35 seconds, or 30 minutes, 90 minutes, 35 minutes, and 155 minutes.
The new minimum cycle time is 20+55=75 seconds, or one minute and 15 seconds.
In the first 35 seconds of the preceding 55 seconds, money from customers was also taken.
The new longest cycle time is 30 + 90 + 120 = 2 minutes.
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What should be the minimum amount of years you allow your retirement
investments to grow?
a. 10 years
b. 20 years
c. 30 years
d. 40 years
Answers
Answer:
a. 10 years
Explanation:
Investing for retirement is a long-term project. The earlier a person starts to invest, the better for them as they will enjoy the benefits of compounding.
Ideally, saving for retirement should start the moment one gets employed. This gives them ample time to save and accumulate money for use in retirement. There is no upper limit as to how many years one should save for retirement. However, one needs to save for at least ten years to have sufficient funds for retirement.
Hale’s TV Productions is considering producing a pilot for a comedy series in the hope of selling it to a major television network. The network may decide to reject the series, but it may also decide to purchase the rights to the series for either one or two years. At this point in time, Hale may either produce the pilot and wait for the network’s decision or transfer the rights for the pilot and series to a competitor for $100,000. Hale’s decision alternatives and profits (in thousands of dollars) are as follows:
State of Nature
Decision Alternative
Reject, s1
1 Year, s2
2 Years, s3
Produce pilot, d1
-100
50
150
Sell to competitor, d2
100
100
100
The probabilities for the states of nature are P(s1) = 0.20, P(s2) = 0.30, and P(s3) = 0.50. For a consulting fee of $5000, an agency will review the plans for the comedy series and indicate the overall chances of a favorable network reaction to the series. Assume that the agency review will result in a favorable (F) or an unfavorable (U) review and that the following probabilities are relevant:
P(F) = 0.69
P(s1 | F) = 0.09
P(s1 | U) = 0.45
P(U) = 0.31
P(s2 | F) = 0.26
P(s2 | U) = 0.39
P(s3 | F) = 0.65
P(s3 | U) = 0.16
Construct a decision tree for this problem.
What is the recommended decision if the agency opinion is not used? What is the expected value?
Answers
Answer:
To construct the decision tree, we can follow these steps:
1. Start with the initial decision nodes representing the two decision alternatives: "Produce pilot" (d1) and "Sell to competitor" (d2).
2. Assign the payoffs for each decision alternative under each state of nature.
3. Add chance nodes for each state of nature and connect them to the corresponding decision alternatives.
4. Assign the probabilities of each state of nature at the chance nodes.
5. Calculate the expected payoffs at each chance node by multiplying the payoffs with their respective probabilities and summing them up.
6. Determine the optimal decision by comparing the expected payoffs at the initial decision nodes.
Here is the decision tree for this problem:
| Produce pilot (d1)
| -100
|____________
/|\
/ | \
/ | \
/ | \
P(F) = 0.69 / | \ P(U) = 0.31
/ | \
/ | \
/ | \
/ | \
s1 / | \ s2
/ | \
/ | \
/ | \
/ | \
/ | \
50 | F U F | 100
| |
| |
| |
| s3 | s3
| |
150| F | 100
|_______________________________|
If the agency opinion is not used, the recommended decision would be to produce the pilot (d1) since it has a higher expected value compared to selling to the competitor (d2).
To calculate the expected value:
Expected value (d1) = (-100 * P(s1 | F) * P(F)) + (50 * P(s2 | F) * P(F)) + (150 * P(s3 | F) * P(F))
= (-100 * 0.09 * 0.69) + (50 * 0.26 * 0.69) + (150 * 0.65 * 0.69)
= -6.93 + 8.97 + 66.88
= 68.92
Expected value (d2) = (100 * P(s1 | U) * P(U)) + (100 * P(s2 | U) * P(U)) + (100 * P(s3 | U) * P(U))
= (100 * 0.45 * 0.31) + (100 * 0.39 * 0.31) + (100 * 0.16 * 0.31)
= 13.95 + 12.09 + 4.96
= 30
Comparing the expected values, the recommended decision is to produce the pilot (d1) with an expected value of 68.92.
Midwest Life Insurance sells a life insurance policy to Thiago. Under the terms of the contract between Thiago and Midwest Life, Thiago will pay $75 per month for the policy, and, upon Thiago’s death, Midwest Life will pay $100,000 to Laurelei. Four years later, Thiago dies, and Midwest refuses to pay under the terms of the policy. The party entitled to sue Midwest for its failure to honor the terms of the contract is:
Answers
The party which is entitled to sue Midwest for its failure to honor the terms of the contract is Laurelei because she is the contract beneficiary.
Basically, the life assurance policy is a policy which promises to pay the beneficiary of the life assured a certain sum after the death of the life assured.
Here, the contract of assurance is valid because Thiago ensures continuous payment of his premium.
Thus, Laurelei who is a beneficiary to Thiago life assurance is entitled to the sum assured because she is included in the contract terms as a beneficiary since the inception of the contract.
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What is market environment
Answers
Answer:
The market environment is the combination of external and internal factors that affect a company's ability to establish a relationship with and serve its consumers.
Explanation:
The internal factors relate to the company itself, such as owners, workers, materials, components, etc.
The external factors are divided into macro and micro components. The macro component is the broad environment which includes societal forces that affect society as a whole. The micro component is task-related, which includes factors that influence the production, manufacturing and distribution of a product or service.
ABC company manufactures two products in one process. Joint processing costs up to the split-off point total $33,600 a year. The company allocates these costs to the joint products on the basis of their total sales values at the split-off point. Each product may be sold at the split-off point or processed further. Data concerning these products appear below:
Product X Product Y Total
Allocated joint processing costs $16,800 $16,800 $33,600
Sales value at split-off point $24,000 $24,000 $48,000
Costs of further processing $15,000 $18,700 $33,700
Sales value after further processing $35,500 $45,100 $80,600
What is the financial advantage (disadvantage) for the company of processing Product X beyond the split-off point?
a. ($3,500)
b. $27,700
c. $20,500
d. $3,700
Answers
Answer:
a. ($3,500)
Explanation:
Particulars for Product X Amount
Sales value after further processing $35,500
Less: Sales value at split-off point $24,000
Total incremental revenue $11,500
Less: Total incremental processing costs $15,000
Financial (disadvantage) of further processing ($3,500)
So, the financial disadvantage for the company of processing Product X beyond the split-off point is $3,500.
Target Co is a wholly owned subsidiary of MegaCorp Inc. MegaCorp supplies a number of services to Target. Target sells some of its products to other MegaCorp subsidiaries. Target also buys products from other MegaCorp subsidiaries that are used as inputs in producing Target's products. Which of the following adjustments should the acquirer make to Target's financial statements before valuing the firm?
A. Deduct the actual cost of services required by Target that are being supplied by the parent without charge from target’s cost of sales.
B. Deduct the difference between the cost of products purchased from other MegaCorp subsidiaries at below market prices and the actual market prices for such products from Target’s cost of sales.
C. Deduct the difference between the cost of products purchased from other MegaCorp subsidiaries at above market prices and the actual cost of such products if purchased from other sources from Target’s cost of sales
D. A and B only.
E. None of the above.
Answers
Answer:
A
Explanation:
Answer:
Explanation:
Target is a wholly owned subsidiary of MegaCorp Inc. MegaCorp supplies a number of services to target.
Target sells some of its products to other MegaCorp subsidiaries. Target also buys products from other MegaCorp subsidiaries that are used as inputs in producing Target’s products. Which of the following adjustments should the acquirer make to Target’s financial statements before valuing the firm?
Deduct the actual cost of services required by Target that are being supplied by the parent without
charge from target’s cost of sales.
Deduct the difference between the cost of products purchased from other MegaCorp subsidiaries at below market prices and the actual market prices for such products from Target’s cost of sales.
Deduct the difference between the cost of products purchased from other MegaCorp subsidiaries at above market prices and the actual cost of such products if purchased from other sources from Target’s cost of sales
A and B only.
None of the above.
Product Development Plan
If you can remember back to Marketing 1a, in Unit 7 you created a mind map for a fictitious product or service that you might like to one day turn into a reality…well, this activity is somewhat inspired by that activity! You’ll be creating a detailed flow chart (or something similar) that lays out your step-by-step plan for coming up with, developing, creating, and releasing a new product or service!
You are welcome to go back to the work that you did in Marketing 1a for Unit 7 and use that same product or service, or you can come up with a new product/service just for this activity. Either way, make sure that you save the work you do in this activity in a safe place for use in later units throughout this course.
After you have decided on a fictitious product/service to use for this activity, use a combination of information from the unit, online research, and your own creativity and innovation to create a flow chart of sorts that maps out a step-by-step plan for the development of this product/service.
Before we get into the formatting details of this visual plan, let’s go over all of the information that you will need to include:
Describe your product/service.
What is the unique value of this product/service?
What will your market information management strategy be? Who is your target market?
Evaluate the types of product/service management and assess the needs of product/service management as they relate to your project choice. What is the nature and scope of the product/service management function?
How will you address quality assurance?
Why is it important to understand and prioritize the quality of your product/service?
What, if any, are the grades and industry standards that you will need to consider with your product?
What will be included in your product mix? What is the importance of a product mix? Address as many of the following items as possible at this point in the development process of your product/service:
Product: the product or service sold by the company
Price: how much it will cost the customer
Place: where the business will sell its product or service and how the customer will receive it
Promotion: the communication techniques the company will use to tell the public about their business
People: the staff required to create a competitive advantage
Process: the systems used to deliver the final product or service
Physical Evidence: the packaging and presentation of the finished product or service
What is your positioning statement?
Make sure to address and assess as many of the four critical elements as you can at this point in your product/service development process.
Identify and explain any other market product considerations, as well.
Now, considering that you are at the beginning stages of this product/service development and will be working on it and adding to it in future units, it is important to keep in mind that much of this information will likely change or be tweaked along the way. In other words, you are not locked-in to whatever you decide in this product/service development chart. Do your best to answer and address all of the required information.
With regard to how this chart/visual plan should be formatted or organized, really the sky is the limit! The information should be laid out in a chronological manner, and it must include specific, detailed information about your product/service. Other than that, you can truly organize this however you feel works best. Make it as creative and innovative as the product/service you are developing!
Here are some examples for inspiration (you do NOT have to format your chart to look like these, or you can if you want to!):
Answers
Project managers, marketers, and creatives all use mind maps as powerful motivators for their teams. Mind maps organize "timelines, dependencies, and duties" in addition to inspiring employees' creativity.
What does a product mean exactly?An item or service that you offer to fulfill a customer's need or desire is referred to as a product. Both real and virtual ones are possible. Physical objects come in two varieties: nondurable products and durable things, such as computers, furniture, and automobiles (like food and beverages).
What qualities does the product possess?The qualities of a product that need to be regulated are its characteristics. Size, form, weight, color, quality, hardness, etc. are a few examples of product attributes. Your product and how its functional design criteria have been created will determine the list of product attributes.
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In 2020, a company receives advance payments from its customers. The company will deliver the products in 2021. At the end of 2020, the company will __________ related to this transaction (enter 1, 2, 3, or 4 that represents the correct answer).
1. record a deferred tax asset
2. record a deferred tax liability
3. have a permanent difference
4. report no difference between financial income and taxable income for 2020.
Answers
Answer:
In 2020, a company receives advance payments from its customers. The company will deliver the products in 2021. At the end of 2020, the company will ____1______ related to this transaction (enter 1, 2, 3, or 4 that represents the correct answer).
1. record a deferred tax asset
Explanation:
For having paid income tax in 2020 on the cash received for deferred revenue, the company will record a deferred tax asset. This deferred tax asset will then be offset in 2021 when the sales revenue will be recorded according to the financial income accounting. Deferred tax asset arises from the overpayment or advance payment of taxes. The opposite of a deferred tax asset is called a deferred tax liability, representing income tax owed, which will be settled in the coming years.
ystem anticipates that spending $300,000 on an advertising campaign will increase bed days by 650. The marketing department anticipates that each additional bed day will yield $2,100 in additional revenue and will increase costs by $1,700. The campaign Group of answer choices will reduce profits by $40,000. will increase profits by $40,000. will increase profits by $90,000. will increase profits by $210,000.
Answers
Answer:
Effect on income= -$40,000
Explanation:
First, we need to calculate the unitary contribution margin:
Unitary contribution margin= 2,100 - 1,700= $400
To calculate the effect on income, we need to use the following formula:
Effect on income= total contribution margin - increase in fixed costs
Effect on income= 650*400 - 300,000
Effect on income= -$40,000
HELP PLEASE!
Which of the following is NOT an example of
when people talk about taking out a loan?
A. Borrowing money from a bank to buy a car.
B. Getting a five year loan to purchase a car.
C. Any kind of bill that is paid in full each month.
D. Borrowing money and agreeing to pay back a little each month.
Answers
Answer: C.
Explanation: When you pay any bill, you don't borrow money, you give your own money to the company or whoever you are giving the money to.
In paragraph 1, using a scale of 1 to 10 (10 being the best), rate how proficient you feel with your technology skill right now. How do you envision developing your technology skill in your academic, professional, or home life?
In paragraph 2, list at least three goals you have to improve your technology skill throughout this course and beyond.
Answers
Answer with Explanation:
I give myself 5 marks for the techno-skills that I have right now because I am not much familiar with any accounting or ERP software and also that I don't have knowledge of complex functions of Microsoft Excel, Word, Outlook, Powerpoint, Project, etc. Though I have better knowledge related to how to operate mobile applications. My aim in near future is to learn Microsoft Excel and Word complex functions like vlookup, hlookup, Pivot tables and Macros within 3 months period. Furthermore, I would like to learn Quickbooks, SAAP and Oracle at weekends. This accounting software and ERP systems will help me get greater interview listings for jobs in the future. The demand for such software knowledge is continuously growing.
My future goals include:
1. Cloud technology Functioning: The demand in the market for cloud technology users so I am committed to access this skillset in the future for better job opportunities.
2. Learning Artificial Intelligence management and writing associated startup ideas: This will me develop creativity and critical thinking in every aspect of life which includes my academic, professional and home life. According to the World Economic Forum, Creativity and Critical thinkings are ranked among the first four skills that the top companies are looking for in the job market. Artificial Intelligence applications inclusion in business operations: develops a sense of Strong brand. I am getting after it in near future.
3. Studying some basic Coding: Learning basic coding includes having some knowledge of HTML and CSS coding for business website management. This is just like managing a social media account but it is more different. It helps us to generate better viewership, sales promotion and brand recognition.
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A firm sells 1000 units per week. It charges $15 per unit, the average variable costs are $10, and the average costs are $25. In the short-run, the firm should:
a. Shut-down as the firm is making a loss of $10,000 per week
b. Shut-down as price is lower than average cost
c. Continue operating as the firm is covering all the variable costs and some of the fixed costs
d. Shut-down because it is cost effective to pay off the remaining fixed costs
Answers
In the short run, the firm should continue operating as the firm is covering all the variable costs and some of the fixed costs.
According to the concept of the short run, certain input would be fixed while others will be variable within a particular period of time in the future. It conveys the idea that an industry responds to sensory stimulation significantly based on the amount of time it has to perform so. The term "short run" does not refer to a precise amount of time but rather to the business, sector, or macroeconomic component undergoing investigation.
In the short run, enterprises encounter both variable and fixed costs, which implies that output, salaries, and pricing do not have complete freedom to find a new equilibrium. This is a basic assumption guiding the concept of the short run and long - run.
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Find the amount of cash discount Farwell Paints would get if the invoice price of $1,025.40 were paid within the 2% discount period.
Also find the cash price of the invoice Farwell would pay after taking the discount.
Answers
1. The amount of the cash discount that Farwell Paints would get for paying within the 2% discount period is $20.51.
2. The amount of the cash price that Farwell Paints would pay within the 2% discount period is $1,004.89.
What is a cash discount?A cash discount is a reduction in the price of a purchase when payment is received within the discount period.
Data and Calculations:Invoice price = $1,025.40
Discount rate = 2%
Cash discount = $20.51 ($1,025.40 x 2%)
Cash price paid = $1,004.89 ($1,025.40 - $20.51) or ($1,025.40 x 1 - 2%)
Thus, Farwell Paints would pay $1,004.89 instead of $1,025.40, with a cash discount of $20.51.
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Why did tech giants like SAP, Oracle, Microsoft, and IBM miss the opportunity to produce a SaaS CRM like Salesforce.com? What might keep large tech companies from identifying potential opportunities like Salesforce.com?
How do I answer this?
Answers
I believe it's best to stick with big tech firms like Salesforce.com for seeing possible business prospects because its software is getting simpler and easier to use all the time. 6.18.
Why is Salesforce so popular?Salesforce is particularly well-known for its capabilities in the areas of marketing campaign development and tracking, customer issue tracking based on escalation and resolution levels, graphic dashboards, and robust reporting functions.
How significant is Salesforce?Salesforce assists companies in tracking client contacts and sales information. It has the ability to manage leads, contacts, chances, and cases. Salesforce also provides a number of tools to assist companies in automating their sales and marketing procedures, including email marketing, lead generation, and lead scoring.
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