On December 31, 2019, Kingbird Corporation signed a 5-year, non-cancelable lease for a machine. The terms of the lease called for Kingbird to make annual payments of $7,924 at the beginning of each year of the lease, starting December 31, 2019. The machine has an estimated useful life of 6 years and a $5,200 unguaranteed residual value. The machine reverts back to the lessor at the end of the lease term. Kingbird uses the straight-line method of depreciation for all of its plant assets. Kingbird’s incremental borrowing rate is 2%, and the lessor’s implicit rate is unknown.
Required:
What type of lease is this?
Answers
Answer:
The lease is operating lease.
Explanation:
There are two types of leases:
Operating lease and Finance lease.
For qualifying a lease as a finance lease certain conditions must be met,
1. The lessee will get the ownership of the asset
2. Lessee may have bargain purchase option at the end of lease term
3. Asset is leased for majority of its life.
In the given case the asset is leased for majority of the life of asset but the ownership of asset is not transferred at the end of the lease term. The conditions for qualifying lease as a finance lease are not met.
Related Questions
Periodic inventory using FIFO, LIFO, and weighted average cost methods
The units of an item available for sale during the year were as follows:
Date Line Item Description Units Cost per Unit Amount
Jan. 1 Inventory 20 units at $32 $640
Aug. 13 Purchase 5 units at $34 170
Nov. 30 Purchase 4 units at $36 144
Available for sale 29 units $954
There are 17 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar).
a. First-in, first-out (FIFO) method
b. Last-in, first-out (LIFO) method
c. Weighted average cost method
Answers
The cost of inventory using the first-in, first-out (FIFO) method, last-in, first-out (LIFO) method and weighted average cost method is $568, $602, $578 respectively.
What is FIFO?First in, first out (FIFO) is a method of asset management and valuation in which assets produced or acquired first are sold, used, or disposed of first.
Given Information,
Jan. 1: Inventory 20 units at $32
Aug. 13: Purchase 5 units at $34
Nov. 30: Purchase 4 units at $36
Units available for sale is 29 units.
Units in the physical inventory is 17 units.
1) Calculation of inventory cost using FIFO (first-in, first-out)
The cost of ending inventory is the cost of the last units bought.
Ending inventory= 4× $36 + 13× $34 = $568
2) Calculation of inventory cost using LIFO (last-in, first-out)
The cost of the ending inventory is the cost of the first units bought.
Ending inventory= 5× $32 + 12× $34 = $602
3) Calculation of inventory cost using Weighted-average:
Weighted average price= ($32+$34+$36)/3 = $34
Ending inventory= 17*$34 = $578
Therefore, the cost of the closing inventory using the FIFO method is $568, using LIFO it is $602, and $578 using the weighted average method.
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All entrepreneurs are businessmen. Some millionaires are entrepreneurs.
Conclusions: (1) All millionaires are businessmen. (2) Some businessmen are entrepreneurs.
2. Which of the following statements is correct?
Both (1) and (2) are correct
Only (1) is correct
Neither (1) or (2) is correct
Only (2) is correct
Answers
All entrepreneurs are businessmen. Some millionaires are entrepreneurs.Neither (1) or (2) is correct.
A person who starts a new firm and takes on the majority of the risks and benefits is referred to as an entrepreneur. Entrepreneurship describes the act of starting a firm. The entrepreneur is frequently viewed as a creator of novel concepts, products, services, businesses, or methods.
Every economy requires entrepreneurs because they have the knowledge and drive to foresee requirements and market viable new ideas. Profits, notoriety, and chances for future expansion are awarded to entrepreneurial success that results from taking on the risks of founding a firm. Losses and decreased market presence for individuals involved in failed entrepreneurship.
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What is the economic order quantity if annual demand is 100 units, the order placement cost is $25, and the holding cost per unit per year is $50
Answers
The economic order quantity if annual demand is 100 units is: 10 units.
Economic order quantityUsing this formula
Economic order quantity =√2×Annual demand× Order placement cost/ Holding cost
Let plug in the formula
Economic order quantity=√2×100×$25/$50
Economic order quantity=√5,000/50
Economic order quantity=√100
Economic order quantity=10 units
Inconclusion the economic order quantity if annual demand is 100 units is: 10 units.
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Leslie was born on September 12, 2002. When will Leslie be able to purchase alcohol?
Answers
Leslie was born on September 12, 2002. When will Leslie be able to purchase alcohol? In most countries around the world, the legal drinking age is 18 years old or above. In the United States of America, it is 21 years old.
Leslie, born in 2002, is currently 19 years old. This implies that Leslie can purchase alcohol if she resides in a country where the legal drinking age is 18 years or above.
A few countries, such as Italy, allow 16-year-olds to drink beer or wine with a meal if they are accompanied by an adult.
However, these laws vary from one country to another, and the safest bet is to look up the drinking laws in your specific country or region to learn more about legal drinking ages.
Alcohol is harmful when consumed in excessive quantities, causing mental and physical problems.
Thus, it is critical to consume alcohol responsibly, regardless of the legal drinking age in one's region. If Leslie chooses to drink alcohol, she should only do so in moderation and not become addicted to it.
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Accounting question??
Answers
Answer:
Hend's ownership percentage after Fatima is admitted is 28%.
Explanation:
Since on Jan 1, Athari and Hend are partners with capital balances of 40,000 and 20,000 and they share profits and losses in the ratio of 3: 2 respectively, and on this date, Fatima invests 20,000 in cash for a 15 percent interest in the partnership, to determine Hend's ownership percentage after Fatima is admitted, the following calculation must be performed:
40,000 + 20,000 = 100%
100 - 15 = 85
60,000 = 85
20,000 = X
20,000 x 85 / 60,000 = X
28,333 = X
Therefore, Hend's ownership percentage after Fatima is admitted is 28%.
An IRB may suspend or terminate an ongoing clinical study if:
Answers
An IRB may suspend or terminate some or all research activities on a protocol if events are identified that represent serious or continuing noncompliance or unanticipated problems involving risk to subjects or others.
IRB Chair or his/her/their designee has the authority to suspend some or all research activities if exceptional participant safety issues are identified. This authority is only exercised if an action is required prior to a convened meeting and it is not feasible to assemble an emergency meeting.
IRB Chair or his/her/their designee has the authority to suspend some or all research activities if exceptional participant safety issues are identified. This authority is only exercised if an action is required prior to a convened meeting and it is not feasible to assemble an emergency meeting.
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What is the importance of having a right organizational design in a company?
Answers
Answer:
Increased efficiency. Faster and more effective decision making. Improved quality of goods and services.
A gymnasium is 50m long and 30 m broad. A running track 2.5m wide runs all around it on the inside. Find the area of the track.
Answers
Area of track = 1500-1306.25 = 193.75. the required area of track is 193.75 square meter.
Briefly explain how the demand curve for workers is determined.
Answers
Answer:
When the marginal revenue product of labor is graphed, it represents the firm's labor demand curve. The demand curve is downward sloping due to the law of diminishing returns; as more workers are hired, the marginal product of labor begins declining, causing the marginal revenue product of labor to fall as well.
Explanation:
You have just been hired as a financial analyst for Barrington Industries. Unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. So, your first job will be to recreate the firm's cash flow statement for the year just ended. The firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. It earned $5 million in net income during the year but paid $700,000 in dividends to common shareholders. Throughout the year, the firm purchased $5.4 million of machinery that was needed for a new project. You have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $460,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. Finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 7% interest rate. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.
What was the firm's end-of-year cash balance? Recreate the firm's cash flow statement to arrive at your answer. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dollar, if necessary.
Answers
The company's cash position at year's end was $460,000.
Why is EBIT preferable than net profit?Since EBIT displays a company's net income without the cost of interest on debt and tax charges, it is frequently used as an alternative to net income. Although a corporation may get interest income or other types of income that boost EBIT but not operational income, EBIT and operating income are not necessarily the same.
Starting cash balance = $100,000
Net income = $5,000,000
Depreciation = $460,000
Cash from operating activities = $5,460,000
Investing activities:
Purchase of machinery = -$5,400,000
Cash from investing activities = -$5,400,000
Financing activities:
Dividends paid = -$700,000
Long-term debt issued = $1,000,000
Cash from financing activities = -$700,000 + $1,000,000
Cash from financing activities = $300,00
Net change in cash = $5,460,000 - $5,400,000 + $300,000
Net change in cash = $360,000
Ending cash balance = Starting cash balance + Net change in cash
Ending cash balance = $100,000 + $360,000
Ending cash balance = $460,000
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Q.No. 1 Assume yourself as a Marketing Specialist of a Company and Determine the New Product Development Process by manufacturing a New Product for your company. Max Marks 10
Max : 200words
Answers
Answer:
New products suffer through five development stages throughout the product lifecycle.
Explanation:
Manufacturing a new product isn't easy for any company. There is always uncertainty whether that product will run successfully as per customer needs.
Stage 1: Idea
Every product development starts with an idea you need to get an idea about the market and about the customer needs. you need to find out what market requires the most. As soon as you got the idea you can jump to the next step.
Stage 2: Research
In this step, the company conducts market surveys about the product idea. The company has to provide samples to market to check their product is working perfectly or whether it requires some changes and how customers are responding. The company has to collect reviews from customers.
Stage 3: Marketing
Once the company got the customer reviews and they are positive then its time to tell the world about the product but the company has to analyze the 4 Ps that are price, place, promotion, and product. The company has to consider these Ps in marketing stage.
Stage 4: Business Analysis
This is a very important step where a company finds out about the factors about the product such as the product's profitability. Whether the product is profitable enough to carry on marketing activities.
Step 5 Commercilisation
After performing every stage properly its time to launch the product. In this stage, the company produces the product in large quantity and supplies it to market to cover all the cost it took to launch and make the company more profitable
The second issue you chose to address with Kenisha is the complexity of the product. The marketing department conducted numerous focus groups to gauge their reaction to the prototype, and the feedback from these focus groups revealed that customers perceived the product to be too complicated and not sufficiently user-friendly. Which of the following statements would be the best explanation for the rejection based on the focus groups' feedback that the product was too complex?
a. The good news is that you've put a lot of great features in the Radio-DRM. The bad news is that focus group customers thought that it was about as complicated as programming the Starship Enterprise. They don't want to spend hours adjusting dials and knobs; all they want to do is plug it in and set a few controls.
b. The customers in the focus groups thought this product is just too complicated! You're building a cruise ship when a simple rowboat will do. You and your team need to stop over- engineering.
c. The marketing department conducted several focus groups for this prototype, and it looks like there are some problems with its complexity. You need to fix these problems as soon as possible.
d. As you know, the marketing department conducted several focus groups for the prototype. Although there were features customers liked, much of the feedback from customers was that the Radio-DRM needs to be made simpler and more user-friendly.
Answers
Answer:
ushdusbs
Explanation:
espero te si ha bro zorry
Which of the outcomes in are most appealing to you? Are you more attracted to extrinsic outcomes or intrinsic outcomes?
Answers
Extrinsic outcomes are external rewards such as money, status, or recognition that come from achieving a goal. These outcomes are appealing to some individuals because they provide tangible benefits and can be easily measured by others.
On the other hand, intrinsic outcomes are internal rewards such as personal satisfaction, a sense of accomplishment, or personal growth that come from achieving a goal. These outcomes are appealing to some individuals because they provide a deeper sense of fulfillment and can be more meaningful in the long-term.
Ultimately, whether someone is more attracted to extrinsic or intrinsic outcomes depends on their personal values and goals. Some people may prioritize external rewards and seek to maximize their income or social status, while others may prioritize personal growth and seek to achieve goals that align with their passions and values.
It is important to strike a balance between both types of outcomes and to find a sense of purpose and satisfaction in the goals that we pursue.
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what is the minimum wage for SA
Answers
the new National Minimum Wage for South Africa has been made public by the Department of Employment and Labour. Starting on March 1st, 2023, the current minimum wage of R23,19 per hour will increase to R25,42 per hour (an increase of around 9,6%).
The minimal amount of compensation that an employer is compelled to pay wage earners for the job completed during a particular period, which cannot be reduced by a collective agreement or an individual contract, is referred to as the "minimum wage."The South African government may impose penalties on employers who fail to pay the minimum wage. If a defined weekly wage is used, the monthly wage is multiplied by 4.33. If an hourly rate is specified, it is computed as 4.33 times the weekly average.
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All of the following options represent primary goals of government spending EXCEPT... A. National Parks maintenance
B. Military
C. Public school education
D. Innovative consumer products
Answers
All of the following options represent primary goals of government spending except D. Innovative consumer products
What is the goals of government spending ?It should be noted that the Government Spends Money in order to provide services, such as defense, roads, and bridges, as well as merit-based amenities like hospitals and schools,,
However this can encompass welfare payments and benefits like unemployment and disability insurance.
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Write down the factors on which supply flexibility is based.
Answers
Now the supply chain flexibility is based make to order strategy, low volumes, low switching costs and low stocks.
The factors on which supply flexibility is based were the supply chain flexibility. It was based on the order strategy. The low volumes and the low switching cost is there in it.
What is strategy?An organization's long-term objectives and the plan it has to achieve them are referred to as its strategy. In other words, it demonstrates the strategy for achieving the stated goal. The specific steps taken to accomplish the objectives in accordance with the strategy are referred to as a tactic.
The term supply-chain flexibility refers to that, The ability that makes adjustable to the production levels, The raw materials, or the purchase or transport capacity for immense benefits. They were compared to traditional supply chain management.
Therefore, As a result, The supply chain management was rigid that was not allow for rapid changes.
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Production is an example of a marketing activity.
Question 1 options:
True
False
Answers
Helllo how can I calculate
Non-controlling interest (NCI) is determined using the partial goodwill method
Answers
Once you have determined the total value of the subsidiary, you can calculate the percentage of the company that is owned by the parent company. This is typically expressed as a percentage of total shares outstanding or as a percentage of total equity in the subsidiary.
Next, you will need to determine the fair value of the non-controlling interest. This is typically done by taking the total value of the subsidiary and subtracting the value of the parent company's share. The resulting amount represents the fair value of the non-controlling interest.
Finally, you will need to adjust the fair value of the non-controlling interest to reflect any goodwill that is not attributable to the parent company. This is typically done by subtracting the portion of goodwill that is attributable to the parent company from the total goodwill of the subsidiary. The resulting amount represents the partial goodwill that is attributable to the non-controlling interest.
The formula to calculate Non-Controlling Interest (NCI) using the partial goodwill method can be expressed as:
NCI = (Total value of subsidiary - Value of parent company's share) x (1 - Goodwill attributable to parent company / Total goodwill)
If cotton is used to produce towels, an increase in the price of cotton will result in which of the following changes in the towel market?
(A) A decrease in the demand for towels, which leads to a shortage of towels followed by an upward pressure on the price of towels
(B) A decrease in the demand for towels, which leads to a surplus of towels followed by a downward pressure on the price of towels
(C) a decrease in the supply of towels, which leads to a shortage of towels followed by upward pressure on the price of towels
(D) an increase in the supply of towels, which leads to a surplus of towels followed by downward pressure on the price of towels
(E) an increase in both the demand and supply of towels, which leads to a surplus of towels followed by upward pressure on the price of towels
Answers
The correct answer is (C) a decrease in the supply of towels, which leads to a shortage of towels followed by upward pressure on the price of towels.
What kind of fabric are towels?
The majority of towels are made of cotton, although they have also been fashioned from silk, synthetic materials, nettle, and wood. Cotton is a common fallback because, after processing, it is hydrophilic.
A reduction in towel supply causes a scarcity of towels and subsequent pressure on prices.
Therefore, Towels that are the nicest, smoothest, and most absorbent are made from premium Turkish and Egyptian cotton.
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The right response is (C) a reduction in towel supply that causes a shortage in towels and subsequent pricing pressure.
How does pressure work?Pressure is the term for the pressure exerted on the an unit of area of a surface. It operates opposite to the surface being applied pressure on. • Pressure is a force and the space it affects.
Describe a force?An object is going to be at rest or in motion as a result of forces. Think of a football lying still on the ground as an illustration. You must exert some force on the ball in order to move it in any direction
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Text that is slanted slightly to the right is said to be
O bolded
O Italic
O underlined
O superscripted
Answers
Answer:
O Italic.
Explanation:
A company sells its goods which it purchases #50 each. The containers are charged out to Customers at #60 each but the customers are credited with #40 each if the containers are returned within Three Months. All containers are #120 each for statement of financial position purposes 50% As at 1st January 2022, the opening inventories were: In the warehouse 2,000 containers With customers 4200 Containers During the year ended 31 December 2022, 3,000 containers were purchased 6,400 were sent to customers, 4,600 were returned 60 were destroyed in the warehouse and 100 were sold as scrap for #2,000. At 31 December 2022, there were 3,800 containers (All returnable) in the hands of customers You are required to: retained by Customers i) Determine the Quantity of Containers II) Determine the Quantity of containers in the warehouse at the end of the year.
Answers
The quantity of containers in the warehouse at the end of the year is 3,108, and the company has 3,800 containers retained by customers.
How did we get the values?To determine the quantity of containers, we need to keep track of the purchases, sales, returns, and losses during the year:
Starting inventory:
In the warehouse: 2,000 containers
With customers: 4,200 containers
Purchases during the year: 3,000 containers
Containers sent to customers: 6,400 containers
Charged at #60 each, revenue = 6,400 x #60 = #384,000
Containers returned by customers: 4,600 containers
Credited at #40 each, cost of sales = 4,600 x #50 = #230,000
Containers destroyed in the warehouse: 60 containers
Cost of sales = 60 x #50 = #3,000
Containers sold as scrap: 100 containers
Revenue = #2,000
Ending inventory:
With customers: 3,800 containers
In the warehouse:
To determine the quantity of containers in the warehouse at the end of the year, we need to use the cost of sales method. This assumes that the first units purchased are the first units sold or returned, and the last units purchased are the last units remaining in inventory. We can calculate the cost of sales as follows:
Cost of goods available for sale:
Starting inventory: 2,000 + 4,200 = 6,200 containers
Purchases during the year: 3,000 containers
Total: 9,200 containers
Cost: 9,200 x #50 = #460,000
Cost of goods sold:
Containers sent to customers: 6,400 containers
Containers returned by customers: -4,600 containers
Containers destroyed in the warehouse: -60 containers
Total: 1,740 containers
Cost: 1,740 x #50 = #87,000
Ending inventory:
Cost of goods available for sale: #460,000
Cost of goods sold: #87,000
Ending inventory: #373,000
Ending inventory per unit: #373,000 / 3,800 = #98.16 per container
Therefore, the quantity of containers in the warehouse at the end of the year is:
of containers = Cost of inventory / Cost per container
= #373,000 / #120
= 3,108.33
= 3,108 containers (rounded down to the nearest whole number)
To summarize, the quantity of containers for the company can be determined as follows:
Starting inventory:
In the warehouse: 2,000 containers
With customers: 4,200 containers
Purchases during the year: 3,000 containers
Containers sent to customers: 6,400 containers
Charged at #60 each, revenue = 6,400 x #60 = #384,000
Containers returned by customers: 4,600 containers
Credited at #40 each, cost of sales = 4,600 x #50 = #230,000
Containers destroyed in the warehouse: 60 containers
Cost of sales = 60 x #50 = #3,000
Containers sold as scrap: 100 containers
Revenue = #2,000
Ending inventory:
With customers: 3,800 containers
In the warehouse: 3,108 containers
To summarize the financial impact of these transactions:
Revenue from containers sent to customers: #384,000
Revenue from containers sold as scrap: #2,000
Cost of sales from containers returned and destroyed: #233,000
Gross profit: Revenue - Cost of sales = #153,000
The quantity of containers in the warehouse at the end of the year is 3,108, and the company has 3,800 containers retained by customers.
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As of January 1, Terrace Waters, Capital had a credit balance of $500,000. During the year, withdrawals totaled $10,000, and the business incurred a net loss of $320,000. Compute the balance of Terrace Waters, Capital as of the end of the year. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Explain.
Answers
If as of January 1, Terrace Waters, Capital had a credit balance of $500,000.
A. The balance of Terrace Waters, Capital as of the end of the year Iis $170,000.
b. Yes, Assuming that there have been no recording errors, the balance sheet prepared at December 31 balance will balance.
How to find the balance?a. Balance of Terrace Waters:
Using this formula to find the balance of Terrace Waters:
Balance of Terrace Waters = Capital - Withdrawals - Net loss
Balance of Terrace Waters = ($500,000 – $10,000 – $320,000)
Balance of Terrace Waters = $170,000
This positive balance means that the assets of Waters' business is higher than the liabilities.
b. Yes, assuming that there have been no recording errors, the balance sheet prepared at December 31 will balance with Terrace Waters, Capital, being reported in the owner’s equity section as the amount of $170,000.
Therefore the balance of Terrace Waters, Capital is the amount of $170,000 and the balance sheet will balance.
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Which one of the following taxes are NOT a mandatory, or
required deduction from your paycheck?
Federal Income Tax
O Retirement Savings
O State Income Tax
O FICA
Answers
State Income Tax can be deducted from paycheck.
State Income Tax are NOT a mandatory, or required deduction from your paycheck. Thus, its C.
What is State Income Tax?The majority of U.S. states also levy a state income tax in addition to the federal income tax that the nation as a whole collects. Several municipal governments also charge an income tax, frequently based on calculations made for the state income tax.
Individuals are subject to income taxes in 42 states and several localities in the US. A ninth state, New Hampshire, levies an income tax on individuals on dividend and investment income but not on other types of income.
Eight states have no state income tax. The income of companies is taxed by 47 states and numerous cities.
A fixed or graduated rate of state income tax is levied on the taxable income of individuals, businesses, and certain charities and trusts. Both the state and entity type tax rates are different.
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10. The directors of KOKO Limited issued 100,000 ordinary shares of no-par value for GH¢10 each payable as follows: on application GH¢3 and on allotment GH¢7. All issued shares were fully subscribed and monies were paid. How much was paid on application? GH 1,000,000 B. GH 300,000 C. GH 400,000 D. GH 700,000
Answers
The correct answer is B. GH¢300,000 was paid on application for the 100,000 ordinary shares issued by KOKO Limited.
The total amount raised from the issuance of 100,000 ordinary shares is calculated by multiplying the number of shares by the issue price per share. In this case, the issue price per share is GH¢10. Therefore, the total amount raised would be 100,000 shares multiplied by GH¢10, which equals GH¢1,000,000. According to the information provided, the amount paid on application iGH¢3 per share. To determine the total amount paid on application, we multiply the amount paid per share by the total number of shares. Therefore, GH¢3 multiplied by 100,000 shares equals GH¢300,000. Therefore, the correct answer is B. GH¢300,000 was paid on application for the 100,000 ordinary shares issued by KOKO Limited.
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Determine the total expenses based on the following data
assets 72,000
owner's equity 70,000
revenues 20,000
liabilities 16,000
Answers
From the given data, it appears that the expenses result in a negative value of $-14,000. This indicates a deficit, which suggests that the company's liabilities and owner's equity exceed its assets.
To determine the total expenses based on the given data, we need to use the accounting equation: Assets = Liabilities + Owner's Equity. In this case, we are given the values of assets, owner's equity, and liabilities.
Assets = $72,000
Owner's Equity = $70,000
Liabilities = $16,000
Using the accounting equation, we can calculate the total expenses by rearranging the equation:
Expenses = Assets - Liabilities - Owner's Equity
Expenses = $72,000 - $16,000 - $70,000
Expenses = $-14,000
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More loans can be made by lenders things to the availability of
Answers
Answer:
Secondary mortgage market
Explanation:
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Indentify four characterisitics of MNE give trade union cause for concern
Answers
Association of employees: A trade union is essentially an association of employees belonging to a particular class of employment, profession, trade or industry. For example, there are unions for teachers, doctors, film, artistes, weavers, mine workers and so on.
Voluntary Association: An employee joins the trade union out of his free will. A person cannot be compelled to join a union.
Permanent Body: A trade union is usually a permanent body. Members may come and go but the trade union remains.
Common Interest: The member of a trade union have certain matters of common interest-job security, better pay and working conditions and so on, which bring them together.
Collective Action: Even when an individual employee has any grievance over certain management decisions, the matter is sorted out by the intervention of the trade union Employees are able to initiate collective action to solve any problem concerning any particular employee or all the employees.
Rapport with the Management: The trade union seeks to improve relations between the employees and employers. The officials of the trade union hold talks with the members of the management concerning the problems of the employees in order to find an amicable solution. It is thus possible for the employees to have better rapport with the management.
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Apply the principals you learned about the 5 Cs to this situation. How did this improve McDonald's business. Is there a way for you to apply this in your own business or job?
Click on the link below:
McDonald's Gets It Right Links to an external site.
Main, K.(n.d.) A customer found a short note with their McDonald's delivery. It's a master class in marketing: The simple thing the fast-food giant got right that most get wrong. INC,
Answers
The 5 Cs in the business stand for Customers, Company, Collaborators, Competitors, and Context. The application of the 5 Cs is to offer a structure that can be employed to analyze the primary factors that impact an organization. In the context of McDonald's, the principles of the 5 Cs were applied to improve their business.
The first C is Customers: McDonald's gave the customers a reason to come back for more. McDonald's was the first restaurant to use the drive-thru service to save time, and this served to boost the company's revenues. The use of the drive-thru service provided consumers with a means to avoid queues and access fast food quicker, hence serving to attract more clients.
McDonald's also made efforts to enhance their services and provide healthier food options, which kept clients coming back for more
The second C is Company: McDonald's optimized its resources to boost the company's operations. The firm started using an IT system to manage its services, which provided an excellent platform to access information from different locations. This aided the company in implementing a consistent pricing strategy throughout all its branches and helped streamline its supply chain management processes.
Third C is Collaborators: McDonald's partnered with different organizations to enhance the quality of their products. McDonald's partnered with different firms such as Coca-Cola to supply the beverage products, which saved on cost and provided consumers with high-quality drinks.
The company also started partnering with different charitable organizations to engage in Corporate Social Responsibility (CSR) activities, which created a positive impact on society and helped promote the company's brand image.
Fourth C is Competitors: McDonald's conducted a competitive analysis to understand their market position. The company identified different competitors in the fast-food industry and came up with strategies to keep up with the competition.
For instance, McDonald's focused on enhancing their products and services, which kept clients coming back for more and also increased the company's revenues. Fifth C is Context: McDonald's also took into account the broader context in which the company operated.
The company considered the different laws and regulations that affected the fast-food industry and took steps to comply with them. The firm also took into account environmental factors such as climate change and came up with strategies to minimize its carbon footprint.
In conclusion, the application of the 5 Cs principles helped McDonald's improve its business by enhancing customer satisfaction, optimizing its resources, partnering with different firms, conducting a competitive analysis, and considering the broader context in which it operates.
This can be applied to other businesses or jobs to enhance their operations by considering the primary factors that impact their organization.
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In recent years, hours of market work have declined and leisure time increased. This trend
a. causes GDP to rise.
b. causes GDP to fall.
c. does not improve the well-being of people because they do not value leisure.
d. is not accounted for in GDP.
Answers
Explanation:
option B.........i guess
Which of the following statement is TRUE?
(1 Point)
Developmental programs improve conceptual skills of managers for the future job.
Training programs improve conceptual skills of nonmanagers for the future job.
Developmental programs improve technical skills of nonmanagers for the current job.
Training programs improve technical skills of mangers for the current job.
Answers
'Developmental programs improve conceptual skills of managers for the future job' is true. The right answer is a.
The goals and content of training and development are different from one another. While "development" refers to a long-term method through which managerial personnel understand conceptual and theoretical knowledge for broad reasons, "training" is a short-term process through which non-managerial personnel acquire technical knowledge and skills for a specific purpose.
Development covers the process through which managers and executives build capacity for both future managing roles as well as skills and competence for their current ones.
The correct answer is option a.
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