The following trial balance and the other information relates to Happy Fashion Center at the end of the company’s fiscal year.
Happy Fashion Center TRIAL BALANCE December 31, 2018
Cash
Accounts Receivable
Inventory
Accounts Payable
Supplies
Equipment
Accumulated Depreciation – Equipment Notes Payable
Unearned Rent Revenue
Capital
Retained Earnings
Rent Revenue
Sales Revenue
Sales Returns and Allowances
Cost of Goods Sold
Rent Expense
Salaries and Wages Expense
Debit
$45,250 33,700 45,000
5,500 133,000
46,700 495,400 24,000 140,000 968,550
Credit
$48,500
24,000 51,000 5,000 90,000 8,000 1,550 740,500
968,550
Adjustments:
1. Supplies on hand totaled $1,500.
2. Equipment is being depreciated at 10% per year.
3. Interest of $11,000 is accrued on notes payable at December 31.
4. Accrued Salaries Payable $4,000.
5. Rent related to unearned rent revenue of $3,550 was earned.
Required:
a) Prepare the adjusting entries as of December 31, 2018. (Omit explanations)
b) Prepare an adjusted trial balance
c) Prepare the Income Statement for December 31, 2018
(5 marks) (10 marks) (10 marks)
Answers
a. The preparation of the adjusting entries, without the explanations, is as follows:
Adjusting Journal Entries:
1. Debit Supplies Expenses $4,000
Credit Supplies $4,000
2. Debit Depreciation Expense $13,300
Credit Accumulated Depreciation $13,300
3. Debit Interest Expense $11,000
Credit Interest Payable $11,000
4. Debit Salaries Expense $4,000
Credit Salaries Payable $4,000
5. Debit Unearned rent revenue $3,550
Credit Rent Revenue $3,550
b) The Adjusted Trial Balance is prepared as follows:
Happy Fashion Center
TRIAL BALANCE
As of December 31, 2018
Debit Credit
Cash $45,250
Accounts Receivable 33,700
Inventory 45,000
Accounts Payable $48,500
Interest Payable 11,000
Salaries Payable 4,000
Supplies 1,500
Equipment 133,000
Accumulated Depreciation 37,300
Notes Payable 51,000
Unearned Rent Revenue 1,450
Capital 90,000
Retained Earnings 8,000
Rent Revenue 5,100
Sales Revenue 740,500
Sales Returns and
Allowances 46,700
Cost of Goods Sold 495,400
Rent Expense 24,000
Salaries & Wages 144,000
Supplies expense 4,000
Depreciation Expense 13,300
Interest Expense 11,000
Total $996,850 $996,850
c) The Income Statement is prepared as follows:
Happy Fashion Center
Income Statement
for the year ended December 31, 2018
Sales Revenue 740,500
Sales Returns and
Allowances 46,700 $693,800
Total
Cost of Goods Sold 495,400
Gross profit $198,400
Rent Revenue $5,100
Total income $203,500
Rent Expense 24,000
Salaries & Wages 144,000
Supplies expense 4,000
Depreciation Expense 13,300
Interest Expense 11,000 196,300
Net income $7,200
Data and Calculations:
Happy Fashion Center TRIAL BALANCE December 31, 2018
Debit Credit
Cash $45,250
Accounts Receivable 33,700
Inventory 45,000
Accounts Payable $48,500
Supplies 5,500
Equipment 133,000
Accumulated Depreciation 24,000
Notes Payable 51,000
Unearned Rent Revenue 5,000
Capital 90,000
Retained Earnings 8,000
Rent Revenue 1,550
Sales Revenue 740,500
Sales Returns and Allowances 46,700
Cost of Goods Sold 495,400
Rent Expense 24,000
Salaries & Wages 140,000
Total 968,550 968,550
Adjustments:
1. Supplies Expenses $4,000 Supplies $4,000 Supplies balance = $1,500
2. Depreciation Expense $13,300 Accumulated Depreciation $13,300
3. Interest Expense $11,000 Interest Payable $11,000
4. Salaries Expense $4,000 Salaries Payable $4,000
5. Unearned rent revenue $3,550 Rent Revenue $3,550
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The unethical practices being perpetrated of calling an executive of another business are
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If you purchased a $5000 bond that matures in 2 years and pays a 10% annual coupon, what’s the amount of the check the company will send you at the end of 2 years?
For the same bond mentioned above, what’s the total amount of interest you would have earned after the bond matures?
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Answer:
Ha. I have no idea.
Explanation:
Seriously I don't know. This could help but probably not.
In Year 1, the investor acquired 10% ownership of investee and applied fair value method to account for the investment. In Year 2, the investor acquired another 30% ownership and applied equity method to account for the investment (40% ownership). In Year 3, the investor sold 35% ownership of the investee and started using fair value method again to account for the investment (5% ownership). Should the investor apply retrospective adjustment in Year 2 and Year 3
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b
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Discuss how a government might influence private producers.
Answers
Answer:
A government can influence through taxation, subsidies, regulations, building use, prohibitions, import quotas etc.
Explanation:
Answer:
Legislation and Regulation Another way in which the government can influence the private producers is, through rules and regulations. The economies usually operate with a huge and growing amount of regulations.
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TRUE OR FALSE one of the important factors to consider in the selection of contract type is the degree of risk for the seller and the buyer that each type of contract presents.
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The given statement ''one of the important factors to consider in the selection of contract type is the degree of risk for the seller and the buyer that each type of contract presents'' is true.
What is contract selection?The choice of a contract is made based on the scope's ambiguity, the distribution of risk, the requirement for predictable costs, and the significance of achieving deadlines. When the scope is well specified, the whole fixed cost is one price.Fixed-price and cost-reimbursement contracts with the federal government are the two primary categories that are most frequently used. Incentives, time-and-materials, labor-hour, indefinite delivery, and letter contracts are examples of other contract forms.Fixed-price agreements. When someone is certain of the scope of the task, this sort of contract is the best. This contract, sometimes referred to as a lump sum agreement, is the most effective technique to keep expenses down when you can foresee the scope.Learn more about contract refer to :
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Problem :
The following Adjusted Trial Balance relates to Beauty Spa Inc. for the year September 30, 2022. Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation: Equipment Accounts Payable Notes Payable (Due 2005) Unearned Revenue Share Capital Retained Earnings Dividends Service Revenue Rent Expense Depreciation Expense: Equipment Miscellaneous Expense Advertising Expeme Insurance Expense Salaries Expere Debit $ 169,500 30,600 2,160 12,800 108,000 80,300 39,750 42,400 31,290 35,200 239,000 775,000 Credit $ 54,000 18,550 90,000 36,000 775,000
Required: c) Prepare the Classified Statement of Financial Position as at September 30, 2022
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Describe the ethical issues confronting supply chain
managers
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There are a lot of ethics. The ethical issues in supply chain management are;
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MyDog food Ltd. has just installed a new filling machine for its 40-found dry dog food bags. They want to construct 3-sigma and R charts to monitor the weight of the bags. The collected 3 subgroups (samples) of 4 observations each. The data is shown below.
1) What are the control limits for the 3-sigmachart?
2) What are the control limits for the R chart?
3) What would be the numerical value of the second point graphed on the chart?
4) What would be the numerical value of the second point graphed on the R chart?
Answers
The second point graphed on the R chart would be the range of the second subgroup, which is 0.26.
How to calculate the control limits?1) The control limits for the 3-sigma chart can be calculated using the formula:
Upper Control Limit (UCL) = X + 3 * σ
Lower Control Limit (LCL) = X - 3 * σ
Where X is the average weight of the bags and σ is the standard deviation of the weights. For the given data, the average weight of the bags is 40.16 and the standard deviation is 0.16.
Therefore, the control limits for the 3-sigma chart would be:
UCL = 40.64; LCL = 39.68
The control limits for the R chart can be calculated using the formula: Upper Control Limit (UCL) = D4 * R
Lower Control Limit (LCL) = D3 * R
Where D3 and D4 are constants based on the subgroup size (n=4) and R is the average range of the subgroups.
For the given data, the average range of the subgroups is 0.22. Therefore, the control limits for the R chart would be: UCL = 0.88 ,LCL = 0
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Describe how sales and consumer-related legislation and regulations affect the delivery of customer service
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Health and safety legislation affects customer service delivery as it requires staff in an organization to ensure the safety of themselves and others, and act responsibly.
There are many perspectives like Changes to tax regulations and rates can have a significant impact on a business. For example, a fall in the rate of corporation tax reduces the amount of tax that corporations have to pay on their profits.
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a. According to the above study and in reference to lecturers relate organizational culture determines three functions of organizational culture (4mks)
b. Different quality management gurus have taken different approach towards quality, compare Deming and Feigenbaum approach (5mks)
C. Explain why quality is free according to the above study (4mks) d. Explain business process Re-engineering relevant to the above hospital (5mks)
quality management (4mks)
e. Describe how Dr Provonost carried out a benchmark of the hospital |(4mks)
f. Explain four barriers that Dr. Provonost may face in implementing total
g. Identify four Characteristics of quality customer service in the above hospital (4mks)
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The functions of organizational culture include facilitating collective environment and giving members a sense of identity.
What is organizational culture?It should be noted that organizational culture simply means the collection of values and expectations that guides the actions of employees.
The functions of organizational culture include:
Facilitating collective environment.
Giving members a sense of identity.
Promotion of relationship.
According to Feigenbaum approach, the steps to improve quality include quality technology, quality leadership, and organizational commitment.
It is stated that quality is free because the road to perfect goods and services is simply through prevention.
Business process re-engineering is relevant to the above hospital to achieve improvement in productivity.
Dr Provonost carried out a benchmark of the hospital by comparing the processes and the sharing of the best practices in clinical care.
The barriers that Dr. Provonost may face in implementing total quality include job apathy, poor existing quality measures, lack of accountability, and lack of good communication with employees.
The characteristics of quality customer service in the above hospital include:
A positive attitude.
Patience.
Empathy.
Delivering respect to patients.
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Which of the following can be the USP of an airline company? can be the USP of an airline company?
A.
we care the most
B.
on time performance, lowest fares
C.
we love our customers
D.
we understand your needs
Answers
Answer:
B
Explanation:
airplanes have a time of arrival and time hey take off so they care the most about arriving on time
Answer:
B
Explanation:
I took the test!
4) An investor has $60,000 to invest in a $280,000 property. She can obtain either a $220,000 loan at 9.5 percent for 20 years or a $180,000 loan at 9 percent for 20 years and a second mortgage for $40,000 at 13 percent for 20 years. All loans require monthly payments and are fully amortizing. a. Which alternative should the borrower choose, assuming she will own the property for the full loan term
Answers
Answer:
A. Alternative 1
B. No
C. No
Explanation:
a) Calculation to determine Which alternative should the borrower choose
First step is to calculate the EMI of Alternative 1 and Alternative 1 using this formula
EMI=[P∗R∗(1+R)^N]/[(1+R)N^−1]
Where:
P represent principal = $180,000
R represent interest rate per month = 9%/12 = 0.0075
N represent number of months = 240
Let Plug in the formula
EMI=[180000∗0.0075∗(1+0.0075)^240]/[(1+0.0075)^240^−1]....(1)
EMI=$1,619.51
EMI of the second mortgage in Alternative 2 = $468.63
Second step is to calculate the Total EMI
Total EMI=$1,619.51+$468.63
Total EMI=$2,088.14
Third step is to assume that the average cost of debt in Alternative (2) = R
$2,088.14=[220000∗R/12∗(1+R/12)^240]/[(1+R/12)^240−1]...(2)
Now let solve for the value of R in (2)
R=9.76%
Based on the above calculation we can that Alternative 2 which is 9.76% is greater that Alternative 1 which is 9.5% which means that the borrower should choose ALTERNATIVE 1 $220,000 loan at 9.5 percent for 20 years
b) Calculation to determine if your answer would change if the borrower plans to own the property for only five years
First step is to calculate the loan balance in Alternative 2 after 5 years
Ending balance Loan 1 in Alternative 2 = $159,672.69
Add Ending balance Loan 2 in Alternative 2= $37,038.78
Total balance $196,711.47
Now let assume that the cost of debt in Alternative 2 = R
Hence,
$220,000=$2,088.14∗PVIFA (60payments,R/12)+$196,711.47/(1+R/12)^60....(3)
Let solve for R in the equation (3)
R=9.74%
NO. Based on the above calculation my answer would NOT change if the borrower plans to own the property for only five years reason been that the cost of debt is greater in Alternative 2 which means that Alternative 1 will be preferable.
c) Calculation to determine if your answers to (a) and (b) would change if the second mortgage had a 10-year term
First step is to calculate EMI in the case of 10 year term in Alternative 2
First mortgage EMI $2,280.16
Add Second mortgage EMI $597.24
Total EMI $2,877.40
($2280.16+ $597.24)
Second step is to consider that R is the cost of debt
Hence,
$2,877.40=[220000∗R/12∗(1+R/12)^120]/[(1+R/12)^120−1]...(4)
R = 9.75%
Based on the above calculation Alternative I is preferable because of the lower cost of debt.
Let calculate the ending balance after 5 years in Alternative 2
Ending balance Loan 1 in Alternative 2 109,843.19
Add Ending balance Loan 2 inAlternative 2 26,248.89
Total balance $136,092.08
Now let assume that the cost of debt in Alternative 2= R
Hence,
$22,000=$2,877.40∗PVIFA(60 payments,R/12)+$136,092.08/(1+R/12)^60....(4)
Let solve for R in equation (3)
R=9.74%
NO. Based on the above calculation my answers to (a) and (b) would NOT change if the second mortgage had a 10-year term reason been that the cost of debt is greater in Alternative 2 which means that Alternative 2 will be preferable.
A downside of social media is that:
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Answer:
People tend to talk to other people they don't know, which could cause serious problems
Explanation:
Answer:
That there are big hacker that can steal your info and also that people can know everything about you in just one video or on picture. It just pure scary
Explanation:
Your Welcome (; (:
you are the manager of a firm that receives revenues of $60,000 per year from product X and $100,000 per year from product Y. The own price elasticity of demand for product X is −2, and the cross-price elasticity of demand between product Y and X is 1.5. How much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 2 percent?
Answers
Firm's total revenues will change to $600 if you increase the price of good X by 2 percent
Price elasticity of demand = percentage change in quantity demanded / percentage change in price −2 = percentage change in quantity demanded / 2% percentage change in quantity demanded = --2 x 2% = -4% The quantity demanded of good X would fall by 4% Revenue would change by -0.04 x $60,000= -$2400 Cross price elasticity of demand measures the responsiveness of quantity demanded of good Y to changes in price of good X. 1.5 = percentage change in quantity demanded of good Y / 2% percentage change in quantity demanded of good Y = 1.5 x 2% = 3.0% The quantity demanded of good Y would increase by 3.0% Revenue would change by 0.030 x $100,000= $3000 Total change = -$2400+ $3000=$600
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A client messaged you saying that there might be something wrong with the bank feed of their checking account. What would be the first thing to do to see if the bank feed will refresh?
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To refresh your feed:
In the Accounting menu, pick out Bank accounts.
On the account you desire to refresh the financial institution feed for, click on Manage Account, then choose Refresh Bank Feed.
How lengthy does it take to refresh financial institution feed in Xero?Transactions will show up in your bank account in Xero each 12 hours, or you can manually refresh your feed to import the ultra-modern transactions.
Why is Sage bank feeds not working?This may be due to the fact your bank has made an error in supplying transactions to us, or some thing has long gone wrong with the bank feed.
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https://brainly.com/question/26181559#SPJ4The graphs illustrate an initial equilibrium for the economy. Suppose that the stock market broadly increases.
Use the graphs to show the new positions of aggregate demand (AD), short-run aggregate supply (SRAS), and long-run
aggregate supply (LRAS) in both the short run and the long run, as well as the short-run and long-run equilibriums resulting
from this change. Then, indicate what happens to the price level and real GDP (or aggregate output) in the short run and in the
long run.
Answers
Since the stock market increases broadly, this has the effect of expanding the aggregate demand thus, shifting it rightwards. This consequently leads to an increase in price level and real GDP. See the Short Run Effect Graph.
In the Long Run, given that demand shifted to the right, this created an imbalance between demand and expected price levels.
All things being, equal the laws of demand and supply as it affects price trigger an upward adjustment in price hence creating a new equilibrium point. See the Long Run Effect Graph.
What is aggregate demand?Aggregate demand, also known as domestic final demand in macroeconomics, is the entire demand for final products and services in an economy at any particular time.
It is frequently referred to as effective demand, albeit this phrase is differentiated at times. This is a country's demand for its gross domestic output.
Aggregate demand is estimated by combining consumer expenditure, government and business investment spending, and net imports and exports. AD = C + I + G + Nx is the equation that represents it.
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jones manufacturing has current assets of $26,900, net working capital of 8,200 long-term debt of 21, 500 and total equity of 57,800 what is the equity multiplier?
Answers
Answer:
1.7
Explanation:
The computation of the equity multiplier is shown below:
As we know that
Net working capital = current assets - current liabilities
So,
current liabilities is
= $26,900 - $8,200
= $18,700
And,
Total liabilities = current liabilities + long term debt
= $18,700 + $21,500
= $40,200
Now
Total assets = Total liabilities + Total equity
= $40,200 + $57,800
= $98,000
Now
Equity multiplier is
= Total assets ÷ equity
= $98,000 ÷ 57800
= 1.7
Embree corp., purchased a four
Answers
Answer:
Embree Corp. purchased a four-year insurance policy on May 1, Year 2, for $12,000, effective immediately. The company expensed the full cost of the policy in Year 2. The correct journal entry for Year 2 (ending December 31) will include a:
Explanation:
Debit to prepaid insurance of $10,000.
Share your ideas from the role of a key stakeholder who wants to settle the issue. Submit your ideas as a blog, a news report or other format of your choice.
Answers
Title: Bridging Divides: A Key Stakeholder's Path to Issue Resolution
Blog Post:
In today's increasingly interconnected world, conflicts and disputes have become a common occurrence. As a key stakeholder, it is essential to play a proactive role in settling such issues and fostering harmony. By promoting open dialogue, understanding, and collaboration, we can pave the way for sustainable resolutions that benefit all parties involved.
Firstly, it is crucial to establish a platform for communication and negotiation. This platform should encourage all stakeholders to express their concerns and perspectives openly, creating an environment of trust and respect. By actively listening to each other's viewpoints, we can gain valuable insights into the underlying causes of the issue and identify potential areas of compromise.
Secondly, building bridges requires empathy and a willingness to see beyond our own interests. By considering the needs and aspirations of all stakeholders, we can work towards finding mutually beneficial solutions. This involves exploring creative alternatives and seeking common ground that addresses the core concerns of each party.
Thirdly, fostering collaboration among stakeholders is key to overcoming barriers and finding lasting resolutions. By encouraging joint problem-solving efforts and facilitating partnerships, we can tap into the collective wisdom and resources of diverse groups. Collaboration also enhances ownership of the solutions, increasing the likelihood of successful implementation.
Lastly, it is important to promote ongoing dialogue and learning. Conflict resolution is a dynamic process, and it is essential to continuously assess the effectiveness of implemented solutions. By creating mechanisms for feedback and evaluation, we can refine our approaches and adapt to changing circumstances, ensuring the sustainability of the settlements achieved.
Resolving issues requires a long-term commitment from all stakeholders involved. As a key participant, we have a responsibility to foster an environment of understanding, collaboration, and empathy. By embracing these principles, we can bridge divides and forge a path towards harmonious coexistence and mutual prosperity.
News Report:
Headline: Stakeholder Engagement Drives Successful Resolution of Long-standing Conflict
Date: May 18, 2023
In an inspiring display of diplomacy and cooperation, key stakeholders have come together to settle a long-standing dispute that has plagued our community for years. Their unwavering commitment to dialogue and collaboration has paved the way for a sustainable resolution that promises to benefit all parties involved.
The conflict, which had deep-rooted historical and cultural undertones, threatened to undermine social cohesion and impede progress. However, through the proactive efforts of key stakeholders, a platform for open communication and negotiation was established, providing a safe space for all voices to be heard.
Emphasizing the importance of empathy and understanding, stakeholders actively listened to one another's concerns and perspectives. This empathetic approach enabled them to uncover the underlying causes of the issue and identify potential areas of compromise. By seeking common ground and exploring creative alternatives, they forged a path towards mutually beneficial solutions.
Central to this successful resolution was the fostering of collaboration among stakeholders. Recognizing the power of collective wisdom and resources, they engaged in joint problem-solving efforts and formed partnerships. This collaborative approach not only facilitated the identification of innovative solutions but also fostered a sense of ownership and commitment among all parties.
However, the settlement process did not end with the signing of agreements. The stakeholders have shown a steadfast commitment to ongoing dialogue and learning. They have implemented mechanisms for feedback and evaluation, allowing for continuous refinement and adaptation of the agreed-upon solutions.
As the community celebrates this milestone, it serves as a shining example of what can be achieved when key stakeholders embrace the principles of understanding, collaboration, and empathy. By bridging divides and forging a path towards harmonious coexistence, they have laid the foundation for a brighter, more prosperous future.
In conclusion, resolving complex issues requires the collective effort of key stakeholders who are willing to transcend differences and work towards a common goal. It is through their commitment to open
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You are reading product reviews posted online by consumers. Which external information source are you using?
A. company website
B.industry website
industry website
C. social media
D. print media
E consumer report
Answers
Option (e), Reading customer reviews of products that have been put online. The external information source you're employing is called Consumer Report.
What does it mean when something is a "internal source" or a "external source"?Internal data refers to information regarding the business's activities, maintenance, personnel, and finances. Market information that comes from customers and competitors is external. It comprises data like statistics from surveys, polls, research studies, and customer feedback.
Consumer reviews are what kind of information?Customer review data is the sum of consumer ratings and reviews of products, services, and businesses. Customer feedback data looks at how consumers engage with and use a brand's products and services. what consumers think about a business.
Why are consumer product reviews important?Product reviews help businesses choose which products to stock in addition to helping consumers make informed decisions. According to Invsep, 90% of customers check internet reviews before visiting a business, and 88% of them think that these reviews are just as trustworthy as personal recommendations.
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Which of the following is true of a good benefits plan?
a. It is generally inexpensive to buy and administer.
b. It will stimulate higher performance levels.
c. It will encourage people to join an organization.
d. It will include redundancies in coverage.
e. It allows for smaller pay increases.
Answers
Answer:
C
Explanation:
The following is true of a good benefits plan it will encourage people to join an organization. The correct option is c.
What are the benefits of motivated employees?There are several benefits to having a motivated workforce, including lower absenteeism rates, employee retention rates, low staff turnover rates, improved management-worker relationships, higher worker performance, improved quality, and enhanced customer service.
A good benefits plan is an essential part of an organization's compensation strategy. It can be used to attract and retain talented employees and can be a competitive advantage in the job market. A well-designed benefits plan can also help to improve employee morale, motivation, and job satisfaction. While it may require a significant investment, a good benefits plan can provide a good return on investment for the organization.
Thus, the ideal selection is option c.
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Let MAC1 = 100 – 10E and MAC2 = 50 – 10E. Graph each function and compute the aggregate MAC curve. Let MD = 30E, compute the socially efficient equilibrium. For the equations given above, suppose the government sets the pollution level at four units. What are the net social costs of this policy?
Suppose a technological change occurs that reduces the marginal costs of abatement for polluter 1 in the above equation to that of polluter 2. How does this affect the socially efficient level of pollution? Solve numerically and graphically.
Answers
If the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not impact the socially efficient level of pollution. The level is still determined by equating Marginal Damage with the Aggregate MAC.
To graph each function, we can plot MAC1 and MAC2 on a graph with the quantity of emissions (E) on the x-axis and the marginal abatement cost (MAC) on the y-axis.
For MAC1: MAC1 = 100 - 10E
For MAC2: MAC2 = 50 - 10E
To compute the aggregate MAC curve, we add the individual MAC curves together. So, Aggregate MAC = MAC1 + MAC2.
Aggregate MAC = (100 - 10E) + (50 - 10E) = 150 - 20E
Now, let's calculate the socially efficient equilibrium by setting the Marginal Damage (MD) equal to the Aggregate MAC.
MD = Aggregate MAC
30E = 150 - 20E
Simplifying the equation, we get:
50E = 150
E = 3
Therefore, the socially efficient equilibrium occurs when the quantity of emissions (E) is 3.
Now, let's calculate the net social costs of the policy when the government sets the pollution level at four units.
Net social costs = Aggregate MAC - MD
Net social costs = (150 - 20(4)) - (30(4))
Net social costs = 110 - 120
Net social costs = -10
The net social costs of this policy would be -10, indicating a net benefit to society.
If a technological change occurs that reduces the marginal costs of abatement for polluter 1 to that of polluter 2, it means that MAC1 will become equal to MAC2.
Setting MAC1 equal to MAC2:
100 - 10E = 50 - 10E
Simplifying the equation, we find that E can have any value, as both sides are equal.
Graphically, this change would mean that MAC1 and MAC2 become parallel lines on the graph, with the same slope and intercept. The socially efficient level of pollution would still be determined by equating MD with the aggregate MAC.
In conclusion, if the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not affect the socially efficient level of pollution. The socially efficient level is still determined by equating the Marginal Damage with the Aggregate MAC, regardless of the marginal costs of individual polluters.
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If you co-sign for a friend's credit card, what is the danger to you if your friend fails to pay?
A.
You might get secured credit.
B.
You might have to pay extra money in taxes.
C.
Your credit score might go down.
D.
Your credit score might go up.
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer:
C
Explanation:
Action research is an effective strategy to address teams who may not be functioning well. What might this
involve?
Select an answer:
Leadership meets to select model sites, collect information on successful learning plans, and write and implement a
plan from these model sites.
A consultant meets with managers to determine the main areas of concern, then jointly develops and reviews
improvement plans over time.
A management team consisting of the leaders of each key organizational group meets to develop and implement a
detailed learning plan for each group.
All employees within the organization are formed into new groups, each meet to develop a learning plan for a different
topic.
↓
Answers
Action research is an effective strategy to address teams who may not be functioning well because it involves a collaborative, reflective, and problem-solving approach that aims to improve team performance and dynamics. In this process, a consultant typically meets with managers to determine the main areas of concern, and then jointly develops and reviews improvement plans over time (Option B).
During the action research process, the consultant and managers work together to identify specific issues affecting the team's performance, such as communication barriers, lack of clear roles and responsibilities, or interpersonal conflicts. Based on these identified areas, they develop an action plan with specific goals and strategies to address the issues.
The action plan might include strategies such as training sessions, team-building activities, or the implementation of new processes to improve communication and collaboration within the team. Throughout the implementation of the action plan, the consultant and managers continually assess the progress and effectiveness of the strategies, making adjustments as needed to ensure that the desired outcomes are achieved.
In summary, action research is an effective strategy for addressing poorly functioning teams as it involves a collaborative, reflective, and problem-solving approach to improve team performance. The process typically involves a consultant working with managers to identify areas of concern, develop an action plan, and review and adjust the plan over time to achieve the desired outcomes. So, the correct option is B.
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A Liquidation of a partnership LO P5 Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio (in ratio form: Kendra, 3/6; Cogley, 2/6; and Mei, 1/6). The partners have decided to liquidate their partnership. On the day of liquidation, their balance sheet appears as follows.
KENDRA, COGLEY, AND MEI Balance Sheet May 31
Assets Liabilities and Equity
Cash $103,900 Accounts payable $258,000
Inventory 537,600 Kendra, Capital 76,700
Cogley, Capital 172,575
Mei, Capital 134,225
Total assets $641,500 Total liabilities and equity $641,500
Required:
For each of the following scenarios, complete the schedule allocating the gain or loss on the sale of inventory. Prepare journal entries to record the below transactions.
a. Inventory is sold for $608,400.
b. Inventory is sold for $469,200.
c. Inventory is sold for $358,800 and any partners with capital deficits pay in the amount of their deficits.
d. Inventory is sold for $298,800 and the partners have no assets other than those invested in the partnership.
Answers
Answer:
a. Inventory is sold for $608,400.
gain on sale of inventory = $608,400 - $537,600 = $70,800
allocation of gain:
Kendra 1/2 x $70,800 = $35,400
Cogley 1/3 x $70,800 = $23,600
Mei 1/6 x $70,800 = $11,800
Dr Cash 608,400
Cr Inventory 537,600
Cr Gain on sale of inventory 70,800
Dr Gain on sale of inventory 70,800
Cr Kendra, capital 35,400
Cr Cogley, capital 23,600
Cr Mei, capital 11,800
Dr Accounts payable 258,000
Cr Cash 258,000
Dr Kendra, capital 112,100
Dr Cogley, capital 196,175
Dr Mei, capital 146,025
Cr Cash 454,300
b. Inventory is sold for $469,200.
loss on sale of inventory = $469,200 - $537,600 = -$69,400
allocation of loss:
Kendra 1/2 x $68,400 = $34,200
Cogley 1/3 x $68,400 = $22,800
Mei 1/6 x $68,400 = $11,400
Dr Cash 469,200
Dr Loss on sale of inventory 68,400
Cr Inventory 537,600
Dr Kendra, capital 34,300
Dr Cogley, capital 22,800
Dr Mei, capital 11,400
Dr Loss on sale of inventory 68,400
Dr Accounts payable 258,000
Cr Cash 258,000
Dr Kendra, capital 42,400
Dr Cogley, capital 149,775
Dr Mei, capital 122,825
Dr Cash 315,100
c) c. Inventory is sold for $358,800 and any partners with capital deficits pay in the amount of their deficits.
loss on sale of inventory = $358,800 - $537,600 = -$178,800
allocation of loss:
Kendra 1/2 x $178,800 = $89,400
Cogley 1/3 x $178,800 = $59,600
Mei 1/6 x $178,800 = $29,800
Dr Cash 358,800
Dr Loss on sale of inventory 178,800
Cr Inventory 537,600
Dr Kendra, capital 89,400
Dr Cogley, capital 59,600
Dr Mei, capital 29,800
Dr Loss on sale of inventory 178,800
Dr Cash 12,700
Cr Kendra, capital 12,700
Dr Accounts payable 258,000
Cr Cash 258,000
Dr Cogley, capital 112,975
Dr Mei, capital 104,425
Dr Cash 217,400
d. Inventory is sold for $298,800 and the partners have no assets other than those invested in the partnership.
loss on sale of inventory = $298,800 - $537,600 = -$238,800
allocation of loss:
Kendra 1/2 x $238,800 = $119,400
Cogley 1/3 x $238,800 = $79,600
Mei 1/6 x $238,800 = $39,800
Dr Cash 298,800
Dr Loss on sale of inventory 238,800
Cr Inventory 537,600
Dr Kendra, capital 119,400
Dr Cogley, capital 79,600
Dr Mei, capital 39,800
Dr Loss on sale of inventory 238,800
Dr Cogley, capital 28,467
Dr Mei, capital 14,233
Cr Kendra, capital 42,700
Dr Accounts payable 258,000
Cr Cash 258,000
Dr Cogley, capital 64,508
Dr Mei, capital 80,192
Dr Cash 144,700
Inventory is sold for \($608,400.\)
sale of inventory(a). When gain on sale of inventory = $608,400 - $537,600 = $70,800
allocation of gain:
Kendra \(1/2 x $70,800 = $35,400\)
Cogley \(1/3 x $70,800 = $23,600\)
Mei\(1/6 x $70,800 = $11,800\)
Dr Cash 608,400 Cr Inventory 537,600
Cr Gain on sale of inventory 70,800
Dr Gain on sale of inventory 70,800
Cr Kendra, capital 35,400
Cr Cogley, capital 23,600
Cr Mei, capital 11,800
Dr Accounts payable 258,000
Cr Cash 258,000
Dr Kendra, capital 112,100
Dr Cogley, capital 196,175
Dr Mei, capital 146,025
Cr Cash 454,300
b. Inventory is sold for \($469,200.\)
loss on sale of inventory = $469,200 - $537,600 = -$69,400
allocation of loss:
Kendra \(1/2 x $68,400 = $34,200\)
Cogley \(1/3 x $68,400 = $22,800\)
Mei \(1/6 x $68,400 = $11,400\)
Dr Cash 469,200
Dr Loss on sale of inventory 68,400
Cr Inventory 537,600
Dr Kendra, capital 34,300
Dr Cogley, capital 22,800
Dr Mei, capital 11,400
Dr Loss on sale of inventory 68,400
Dr Accounts payable 258,000
Cr Cash 258,000
Dr Kendra, capital 42,400
Dr Cogley, capital 149,775
Dr Mei, capital 122,825
Dr Cash 315,100
c) c. Inventory is sold for $358,800 and any partners with capital deficits pay in the amount of their deficits.
loss on sale of inventory = $358,800 - $537,600 = -$178,800
allocation of loss:
Kendra \(1/2 x $178,800 = $89,400\)
Cogley \(1/3 x $178,800 = $59,600\)
Mei \(1/6 x $178,800 = $29,800\)
Dr Cash 358,800
Dr Loss on sale of inventory 178,800
Cr Inventory 537,600
Dr Kendra, capital 89,400
Dr Cogley, capital 59,600
Dr Mei, capital 29,800
Dr Loss on sale of inventory 178,800
Dr Cash 12,700
Cr Kendra, capital 12,700
Dr Accounts payable 258,000
Cr Cash 258,000
Dr Cogley, capital 112,975
Dr Mei, capital 104,425
Dr Cash 217,400
d. Inventory is sold for $298,800 and also the partners have no assets other than those invested in the partnership.
loss on sale of inventory = $298,800 - $537,600 = -$238,800
allocation of loss:
Kendra \(1/2 x $238,800 = $119,400\)
Cogley \(1/3 x $238,800 = $79,600\)
Mei \(1/6 x $238,800 = $39,800\)
Dr Cash 298,800
Dr Loss on sale of inventory 238,800
Cr Inventory 537,600
Dr Kendra, capital 119,400
Dr Cogley, capital 79,600
Dr Mei, capital 39,800
Dr Loss on sale of inventory 238,800
Dr Cogley, capital 28,467
Dr Mei, capital 14,233
Cr Kendra, capital 42,700
Dr Accounts payable 258,000
Cr Cash 258,000
Dr Cogley, capital 64,508
Dr Mei, capital 80,192
Dr Cash 144,700
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Exercise 11-1 Payback period computation; uneven cash flows LO P1 Beyer Company is considering the purchase of an asset for $180,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Year 1 Year 2 Year 3 Year 4 Year 5 Total Net cash flows $ 60,000 $ 40,000 $ 70,000 $ 125,000 $ 35,000 $ 330,000 Compute the payback period for this investment. (Cumulative net cash outflows must be entered with a minus sign. Round your Payback Period answer to 2 decimal place.)
Answers
Answer:
The Payback period for this investment is 3.08 years
Explanation:
In order to calculate the payback period for this investment we would have to calculate first the cumulative cash inflow as follows:
Year cash inflow cumulative cash inflow calculation
1 $ 60,000 $ 60,000 $ 60,000
2 $ 40,000 $100,000 $ 40,000+$ 60,000
3 $ 70,000 $ 170,000 $ 70,000+$100,000
4 $ 125,000 $295,000 $ 125,000+$ 170,000
5 $ 35,000 $330,000 $35,000+$295,000
The total cash inflow from the project is $330,000
Therefore, Calculation of payback period=3 years+((180,000-170,000)%$125,000)
=3 years+($10,000%$125,000)
=3 years+0.08
=3.08 years
Payback period for this investment is 3.08 years
An analyst evaluating securities has obtained the following information. The real rate of interest is 2.8% and is expected to remain constant for the next 5 years. Inflation is expected to be 2.6% next year, 3.6% the following year, 4.6% the third year, and 5.6% every year thereafter. The maturity risk premium is estimated to be 0.1 × (t – 1)%, where t = number of years to maturity. The liquidity premium on relevant 5-year securities is 0.5% and the default risk premium on relevant 5-year securities is 1%.
a. What is the yield on a 1-year T-bill? Round your answer to one decimal place.
b. What is the yield on a 5-year T-bond? Round your answer to one decimal place.
c. What is the yield on a 5-year corporate bond? Round your answer to one decimal place.
Answers
An analyst evaluating securities has obtained the following information, which is mathematically given as
Y1= 4.30%Y5= 6.50%Y5'= 8%What are the yield on a 1-year T-bill, the yield on a 1-year T-bill, and the yield on a 5-year corporate bond?Generally, the equation for Yield on Corporate Bond is mathematically given as
Y= r* + IP + MRP + DRP + LP
Hence
a) For the yield on a 1-year T-bill
Y1== 2.2% + 2.1%
Y1= 4.30%
b) For the yield on a 5-year T-bond
Where
IP= (2.1% + 3.1% + 4.1% + 5.1% + 5.1%)/5 = 3.90%
And
MRP = 0.1*(5-1)
MRP= 0.4%
Y5= 2.2% + 3.90% + 0.4%
Y5= 6.50%
c) For the yield on a 5-year corporate bond
IP = (2.1% + 3.1% + 4.1% + 5.1% + 5.1%)/5
IP= 3.90%
MRP = 0.4%
DRP = 1%
LP = 0.5%
Therefore
Y5= 2.2% + 3.90% + .4% + 1% + .5%
Y5'= 8%
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What is the term for the illegal practice of using special
knowledge about a firm for profit or gain?
Answers
Answer:
Insider trading.Explanation:
Illegal practice of using special knowledge about a firm for profit or gain is called insider trading