[This is a variation of E 5-19 focusing on the revenue recognition upon project completion.] On February 1, 2018, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,000,000. During 2018, costs of $2,000,000 were incurred, with estimated costs of $4,000,000 yet to be incurred. Billings of $2,500,000 were sent, and cash collected was $2,250,000. In 2019, costs incurred were $2,500,000 with remaining costs estimated to be $3,600,000. 2019 billings were $2,750,000, and $2,475,000 cash was collected. The project was completed in 2020 after additional costs of $3,800,000 were incurred. The company's fiscal year-end is December 31. This project does not qualify for reve- nue recognition over time. Required: 1. Calculate the amount of gross profit or loss to be recognized in each of the three years. 2. Prepare journal entries for 2018 and 2019 to record the transactions described (credit "various accounts" for construction costs incurred). 3. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2018 and 2019. Indicate whether any of the amounts shown are contract assets or contract liabilities.
Answers
1. Gross Profit or Loss for Each of the Three Years The given contract doesn't qualify for revenue recognition over time. Hence, the percentage of completion method will be used for revenue recognition. Gross profit or loss = Total Revenue − Total Expenses Year 1:Gross Profit = Total revenue – Total expenses Gross Profit = 2,500,000 − 2,000,000Gross Profit = $500,000Year 2:Total revenue = Billings Year 2 = $2,750,000Total expenses = Cost incurred Year 1 + .
Estimated cost to complete Year 2Total expenses = 2,000,000 + 4,000,000Total expenses = $6,000,000Gross Loss = Total revenue – Total expenses Gross Loss = 2,750,000 − 6,000,000Gross Loss = $(3,250,000)Year 3:Total revenue = Billings Year 3 = Contract price − Billings Year 1 − Billings Year 2Total revenue = $8,000,000 − 2,500,000 − 2,750,000Total revenue = $2,750,000Total expenses = Cost incurred Year 1 + Cost incurred Year 2 + Cost incurred Year 3Total expenses = 2,000,000 + 2,500,000 + 3,800,000Total expenses = $8,300,000Gross Loss = Total revenue – Total expenses Gross Loss = 2,750,000 − 8,300,000Gross Loss = $(5,550,000)2. Journal Entries for 2018 and 2019Year 1:Construction in Progress (Various accounts) = $2,000,000Accounts Payable (Various accounts) = $2,000,000To record cost incurred for construction Year 2:Construction in Progress (Various accounts) = $2,500,000Accounts Payable (Various accounts) = $2,500,000To record cost incurred for construction3. Presentation of Project and Contract Assets/Liabilities as of December 31, 2018 and 2019December 31, 2018December 31, 2019Note:Contract Asset = Costs and profit in excess of billings.Contract Liability = Billings in excess of costs and profit
For such more question on revenue
https://brainly.com/question/16232387
#SPJ11
Related Questions
Which of the following changes would tend to increase the premium on a disability policy?
Choose matching definition
A shorter elimination period
Is increasing
A shorter waiting period
A longer benefit period
Answers
A shorter elimination period would tend to increase the premium on a disability policy. So, the correct answer is shorter elimination period.
The elimination period is the amount of time between when a disability occurs and when benefits begin to be paid out. A shorter elimination period means that benefits will be paid out sooner, which increases the risk and cost for the insurer. As a result, the premium for the policy would be higher to account for this increased risk.
On the other hand, increasing the waiting period would tend to decrease the premium on a disability policy. The waiting period is the amount of time between when a disability occurs and when the elimination period begins.
A longer waiting period means that benefits will not be paid out as soon, which decreases the risk and cost for the insurer. As a result, the premium for the policy would be lower to account for this decreased risk.
A longer benefit period would also tend to increase the premium on a disability policy, as it means that benefits will be paid out for a longer period of time, which increases the risk and cost for the insurer.
To know more about disability policy refer here:
https://brainly.com/question/29416497#
#SPJ11
The production era marked a time when companies were able to increase their profits because they were able to decrease their production costs.
True
False
Answers
Answer:
true
Explanation:
it was the time of the production line making it easy to make expensive things with people that are lower skilled and cheaper overall
Answer:
True
Explanation:
have a good day
Which one of the following is not an accurate attribute of an organization's strategic vision?
A) Providing a panoramic view of "where we are going"
B) Outlining how the company intends to implement and execute its business model
C) Pointing an organization in a particular direction and charting a strategic path for it to follow
D) Helping mold an organization's character and identity
E) Describing the company's future product-market-customer-technology focus
Answers
The option that is not an accurate attribute of an organization's strategic vision is B) Outlining how the company intends to implement and execute its business model.
While an organization's strategic vision may include aspects of how the company intends to achieve its goals, the strategic vision primarily focuses on the direction, path, and overall picture of where the organization wants to go. It typically outlines the desired future state, provides guidance, and sets a broad framework for decision-making and resource allocation.
The implementation and execution of the business model, on the other hand, are part of the strategic planning and operational processes that translate the strategic vision into action plans, initiatives, and specific steps to achieve the desired outcomes.
Therefore option B. is correct.
To learn more about business model, Visit:
https://brainly.com/question/30323133
#SPJ11
Park Corporation is planning to issue bonds with a face value of $670,000 and a coupon rate of 7.5 percent. The bonds mature in 6 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Park uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8.5 percent. (EV of $1. PV of $. EVA of $1, and PVA of \$1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.) Required: 1. Prepare the journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the interest payment on June 30 using effective-interest amortization. Note: Enter debits before credits. 3. What bond payable amount will Park report on Its June 30 balance sheet?
Answers
The issue price of bonds = $422,314 + $250,831 = $673,145, rounded to the nearest dollar, equals $595,145 in cash and $74,855 in the discount on bonds payable. The bond payable amount on Park's June 30 balance sheet is $672,370.
On January 1 of this year, Park Corporation issued bonds with a face value of $670,000, a coupon rate of 7.5%, and maturity of 6 years, with interest payments due every June 30 and December 31.
On this day, the entry to record the issuance of the bonds is:
Debit Credit Cash $595,145
Discount on bonds payable $ 74,855
Bonds payable $670,000
Calculation: To calculate the issue price of the bonds, we need to calculate the present value of the principal and interest payments using the market rate of interest of 8.5%.
The present value of the principal is calculated as: PV of $1 for 6 periods at 8.5% = 0.6302
Present value of the principal = $670,000 × 0.6302 = $422,314.
The present value of interest payments is calculated as follows: Semiannual interest payment = $670,000 × 7.5% ÷ 2 = $25,125
PV of annuity due of $1 for 12 periods at 4.25% = 9.9643
Present value of interest payments = $25,125 × 9.9643 = $250,831
The issue price of bonds = $422,314 + $250,831 = $673,145, rounded to the nearest dollar, equals $595,145 in cash and $74,855 in the discount on bonds payable.
On June 30, the entry to record the interest payment is: Debit Credit Interest expense $25,225
Discount on bonds payable $2,370
Cash $22,855
The discount on bonds payable increases by $2,370, computed as $25,225 interest expense minus the $22,855 cash paid for the interest.
The book value of the bonds decreases by $2,370, computed as $25,225 interest expense minus the $22,855 cash paid for the interest.
The bond payable amount on Park's June 30 balance sheet: The bond payable amount reported on Park's June 30 balance sheet is: Bond payable amount = Book value of bonds on January 1 – Principal repaid + Discount amortization = $670,000 – 0 + $2,370 = $672,370.
Learn more about bonds here :
https://brainly.com/question/31756424
#SPJ11
During World War II, many American companies focused on manufacturing materials for military use;
following the war and a return to a peacetime economy there was a resurgence in marketing research.
From the list below, identify which research strategy was introduced following World War II.
O very short surveys
O motivational research
customer rewards
O opinion polling
O focus groups
O experimental testing of products by consumers
Answers
American businesses specializing in producing supplies for the government have used customer incentives, motivational studies, and very brief surveys.
What is motivational research?The phrase "motivation research" is used to describe a variety of qualitative research techniques that were created to delve into consumers' minds and elucidate the hidden or subliminal motivations and objectives driving everyday consumption and purchasing habits. Marketing professionals benefit in a variety of ways from motivation research. They are able to adjust their marketing by better understanding why customers may or may not purchase their goods. The target market for various goods and services can also be determined with its assistance. Any letter of motivation should start out simply, mentioning the program you're applying for. Describe your future project's clear career purpose in the first place, as well as your selection of this specific PhD program.To learn more about motivational research refer to:
https://brainly.com/question/15002361
#SPJ1
If the number of infections continues to grow exponentially, what will the number of infections be in week 6?
Answers
If the number of infections continues to grow exponentially, the estimated number of infections in week 6 would be approximately 119.
To determine the number of infections in week 6, we can use exponential growth and the given growth rate of 20%.
First, let's establish the growth formula:
Growth Factor = 1 + Growth Rate
In this case, the growth factor would be:
Growth Factor = 1 + 0.20 = 1.20
Now, we can calculate the number of infections in week 6 by multiplying the initial number of infections (week 0) by the growth factor raised to the power of the number of weeks:
Number of Infections in Week 6 = Initial Infections × Growth Factor\(^{Number of Weeks\)
Using the given data, where the number of infections in week 0 is 40 and the number of weeks is 6:
Number of Infections in Week 6 = 40 × 1.20⁶
Calculating this expression:
Number of Infections in Week 6 ≈ 40 × 2.9859 ≈ 119.436
To learn more about exponentially click on,
https://brainly.com/question/29275549
#SPJ4
Complete question is:
George monitors the number of influenza infections reported in a certain neighborhood in a given week. The recent numbers are shown in this table:
Week Number of People
0 40
1 48
2 58
3 69
According to his reports, the reported infections are growing at a rate of 20%.
If the number of infections continues to grow exponentially, what will the number of infections be in week 6?
What should a company consider when choosing a celebrity to endorse its products? Explain.
Answers
Answer:
Explanation:
Celebrity endorsement on a product is vital in increasing brand recognition and having more customers and improvement in sales. Some of the things that should be considered when choosing a celebrity for endorsement of a product include:
1. Identification of their interest: It's vital for the celebrity to have thesame interest with the product to be endorsed. The brand should share the celebrities passion.
2. Their audience engagement should also be considered. It is vital to have celebrities that have a strong followership and large fanbase. This will help in driving ones sales.
3. Celebrities that are controversial and have negative history should be avoided. This can have a negative impact on ones product. For example, using a celebrity that is known to be a drug addict or have a vile lifestyle.
T/F: the deeply ingrained principles that guide all of a company's actions and decisions are the firm's
Answers
The given statement "The deeply ingrained principles that guide all of a company's actions and decisions are commonly referred to as the firm's "core values." is true because these core values define the company's culture and serve as the foundation for its business strategy.
They can include a wide range of beliefs and principles, such as integrity, accountability, teamwork, innovation, customer focus, and social responsibility. Core values are essential for a company to achieve its long-term goals and sustain success. They provide a clear sense of direction and purpose, help to attract and retain employees who share the same values, and create a sense of identity and unity within the organization.
Moreover, when core values are fully integrated into a company's operations, they can inspire trust and loyalty among customers, suppliers, and other stakeholders. Overall, core values are a critical component of any company's culture and strategy, and they should be regularly evaluated and updated to ensure they remain relevant and meaningful.
For more about company's culture:
https://brainly.com/question/27778728
#SPJ11
When Jose compares his input/output ratio with that of his co-workers, he is satisfied that he is being treated fairly. What is Jose most likely to do as a result
Answers
Discuss the lessons you learned while completing this case research &
analysis assignment. (5 pts)
Answers
Answer: As an AI language model, I do not have personal experience in completing case research and analysis assignments. However, based on my interactions with students and professionals who have completed such assignments, I can suggest some potential lessons that one may learn from this type of task:
1. Research skills: Case research and analysis assignments require extensive research to identify relevant information and data to support your analysis. Completing this assignment can help you develop research skills and learn how to use various resources to find reliable and relevant information.
2. Critical thinking: Analyzing a case requires you to think critically and objectively about the facts presented. This assignment can help you develop critical thinking skills, which can be useful in other areas of life, including problem-solving, decision-making, and evaluating arguments.
3. Communication skills: In order to effectively communicate your findings and recommendations, you need to develop strong communication skills, including writing, presenting, and organizing your thoughts. Completing this assignment can help you develop these skills, which can be useful in a wide range of contexts.
4. Time management: Case research and analysis assignments can be time-consuming, requiring significant effort to collect and analyze data. By completing this assignment, you can learn how to manage your time effectively and prioritize tasks, which can be useful in other areas of life.
5. Real-world applications: Case research and analysis assignments often involve real-world scenarios, which can help you understand how concepts and theories apply to practical situations. Completing this assignment can help you develop a deeper understanding of a particular subject and see how it is relevant in real-life situations.
Overall, completing a case research and analysis assignment can help you develop a range of skills and gain valuable experience that can be useful in many aspects of life.
Learn more about case research and analysis assignment, click here :
brainly.com/question/31861264
#SPJ11
post-implementation review is not an important part of project closure.
Answers
A post-implementation review is indeed an important part of project closure. It serves as a crucial step in evaluating the success and effectiveness of a project after its completion.
This process involves examining the project's objectives, outcomes, and overall performance to ensure that the goals have been met and to identify areas for improvement in future projects. One significant benefit of a post-implementation review is that it helps organizations learn from their experiences. By analyzing the project's strengths and weaknesses, teams can refine their strategies and methodologies, leading to increased efficiency and effectiveness in future projects.
Moreover, a post-implementation review aids in knowledge sharing across the organization. Lessons learned from one project can be applied to others, fostering a culture of continuous improvement and reducing the risk of repeating mistakes.
Lastly, the review process helps establish accountability within the project team. By assessing the project's performance against the initial plan and objectives, team members can be held accountable for their work and contributions.
In summary, a post-implementation review is an essential part of project closure as it enables organizations to learn from their experiences, promotes knowledge sharing, and encourages accountability among team members, all of which contribute to the continuous improvement of project management practices.
To know more about post-implementation click here:
https://brainly.com/question/7773156
#SPJ11
What is the marginal revenue and marginal cost for this diagram?
What type of market is this? Explain your answer
Answers
Marginal revenue :
2060120200300420560Marginal cost :
108210192640It is a Monopolistic market structure because marginal revenue is greater than the marginal cost.
Marginal Revenue is the increase in the revenue by selling one extra product in the market. It is calculated by the Change in revenue divided by the change in output.
Marginal cost is the change in cost by producing one extra unit of output. It is calculated by a change in cost divided by the change in units.
Monopolistic market structure is where there are multiple companies producing similar products in the market.Example for monopolistic structure can be a grocery store.
For more about Marginal revenue refer to the link:https://brainly.com/question/12231343
Which style of decision making will consumers who develop brand loyalty use?
A.extensive decision making
B.limited decision making
C.routine decision making
D.opportunity based decision making
Answers
27. Many organizations do not have a formal trouble reporting system. Why do you think this is the case?
Answers
Many organizations may not have a formal trouble reporting system for several reasons. One primary factor could be a lack of awareness regarding the benefits of such a system. Organizations might underestimate the importance of tracking and resolving issues in a systematic manner, which could lead to inefficiencies and dissatisfaction among employees and stakeholders.
Another reason could be the perceived complexity and cost associated with implementing a formal trouble reporting system. Organizations might assume that setting up such a system requires significant resources, both in terms of time and financial investment. This perception might discourage them from establishing a systematic approach to handling issues. Additionally, some organizations may rely on informal methods of reporting trouble, such as personal communication or ad hoc meetings, believing that these are sufficient for addressing problems. In reality, these methods may not be as effective as a formal system in terms of providing transparency, accountability, and traceability. Lastly, organizational culture and resistance to change could also play a role. Employees and management might be accustomed to existing processes and resistant to adopting new systems, especially if they believe that current methods are working well.
Learn more about formal trouble reporting system here:
https://brainly.com/question/31580525
#SPJ11
PLS NEED HELP IM BEHIND BAD
Answers
Answer:
The first answer
Explanation:
Just took it
If a $1000 face value coupon bond has a coupon rate of 3. 75 percent, then the coupon payment every year is.
Answers
A $1000 face value coupon bond has a coupon rate of 3.75 percent. The coupon payment every year is $37.50Explanation:We can calculate the annual coupon payment of the bond by using the formula:
Coupon Payment = Face Value x Coupon Rate/100Here,Face Value of bond = $1000Coupon Rate = 3.75% = 3.75/100 = 0.0375By substituting these values in the formula, we get:
Coupon Payment = $1000 x 0.0375= $37.50Hence, the coupon payment every year for the $1000 face value coupon bond with a coupon rate of 3.75 percent is $37.50.
To know more about coupon visit:
https://brainly.com/question/32114615
#SPJ11
Question 5 of 10 The tax rate. percentage paid on income taxes is called the marginal O A fixed O B. incremental O C. total O D. average SUBMIT
Answers
Answer:
Its not D
Explanation:
I got it wrong :((
Selection committees are concerned with what?
A. Succession planning, workforce planning, and popularity
B. Budget planning, workforce planning, and leadership development
C. Succession planning, workforce planning, and leadership
development
D. Succession planning, workforce planning, and unskilled workers
Answers
C. Succession planning, workforce planning, and leadership development.
Why it is?
Selection committees are typically involved in identifying and selecting candidates for important positions within an organization.
To make informed decisions, selection committees often focus on a range of factors, including succession planning (i.e., identifying potential future leaders), workforce planning (i.e., ensuring the right mix of skills and experience), and leadership development (i.e., supporting the growth and development of current and future leaders). Budget planning and unskilled workers are typically not areas of focus for selection committees.
To know more about Workforce Planning related question visit;
https://brainly.com/question/30482805
#SPJ1
under michigan law, which of the following would not be considered an illegal inducement? sharing commissions with insured paying premiums for the insured a promotional item with the producer's name and address valued at $5.00 $100 gift to the insured
Answers
The correct option is b. Under michigan law, paying premiums for the insured would not be considered an illegal inducement
Let us discuss each option provided in the question to understand which one is an illegal inducement and which one is not: Sharing commissions with insured: Sharing commissions with the insured is an illegal inducement.
It is prohibited by law because it incentivizes the policyholder to get the insurance policy with a particular agent or insurance company.
Paying premiums for the insured: Paying premiums for the insured is not considered an illegal inducement.
It does not provide any incentives to the policyholder to select any particular agent or insurance company.
Instead, it provides financial help to the insured, which is permitted by law.
A promotional item with the producer's name and address valued at $5.00: Providing a promotional item with the producer's name and address valued at $5.00 is considered an illegal inducement.
This promotional item can be any item that has the producer's name and address.
These types of items are typically given as incentives to the policyholders to select a particular agent or insurance company.
Therefore, it is prohibited by law to provide such incentives.
$100 gift to the insured: Providing a $100 gift to the insured is considered an illegal inducement.
It is an incentive that can encourage policyholders to select any particular agent or insurance company.
It provides an unfair advantage to the agent or insurance company who provides such incentives.
Therefore, paying premiums for the insured is the only option that is not considered an illegal inducement under Michigan law.
For more questions on Paying premiums
https://brainly.com/question/7979157
#SPJ8
Why is money management important? How would you rate your own money management?
Answers
Answer:
because it has money
Explanation:
Answer:
Money management is important because you should have a balance of bills to pay, and money you keep for fun. If you don't have this then you might have to pay to much money for bills, and you not having enough to pay them off.
Explanation:
Question 2 (1 point)
Who benefits from a low interest rate? (Select the best answer.)
♡
The investor
The borrower
The lender
The credit card company
Answers
Answer: The borrower
Explanation:
Answer: The borrower
Explanation:
Typically, what percentage of the home cost should you have available for a down payment?
Responses
5%
25%
30%
50%
Answers
You can put down up to 50% of the total cost of the property if you have the necessary funds and your financial situation permits it.
Further more you can also.
Even 80% of the property's value is acceptable if you so choose. Everything depends on you and the amount of financial responsibility you are willing to take on. The greater the down payment you make, the less debt you are required to pay.
Now, speaking generally, the bank or an NBFC, depending on which one you choose to apply to for a home loan, will only lend up to 80% of the actual worth of the property. In exceptional circumstances, the lender might provide 85% finance, but not acent extra on top of that.
Therefore, it is abundantly evident from the calculations that you must put down at least 15-20% of the property's value.
In light of the actual worth of the property, you should correspondingly determine the down payment. I'm assuming that your property is worth somewhere between 35 and 37 lakhs based on the loan statistics you provided. That means your down payment will need to be at least 7-8 lakh.
Learn More About Down payment here - https://brainly.com/question/16885290
#SPJ1
1. Consider the production function Q = (0.5K1/3 + 0.5L1/3)3 . Suppose the firms want to minimize the cost of producing 8 units of output. It pays a wage rate W of $40 and capital cost R of $10. How many units of labor and capital should the firm use?
Answers
Answer:
The answer is "k= 16 units and L=0 units"
Explanation:
Given:
\(Q = (0.5K^{\frac{1}{3}} + 0.5L^{\frac{1}{3}})^3\)
Since K and L are ideal replacements, their company should select its cheapest of two for production. Its business chooses only money.
\(\to Q(K,L)=(0.5 K^{\frac{1}{3}})^3 \\\\\to 8= 0.5K^{(\frac{1}{3})}^3\\\\\to 2= 0.125 \ K \\\\\to K=16\)
\(K=16 \ units \\\\ L=0 \ units\)
Country Q has experienced a rapid increase in its unemployment rate and a sharp decline in its GDP. What might policymakers do in the face of these economic indicators? encourage a decrease in purchasing until employment figures increase try to trade with other nations to increase production and create new jobs increase taxes so the government has more money to spend implement controls on wages, forcing employers to pay higher wages.
Answers
Based on the situation facing Country Q, they might respond by trying to trade with other nations to increase production and create new jobs
Trading with other nations:
Allows for an economy to develop as it would produce more to export Increases employment as people would work in the new companies created to produce exportIt would therefore be in Country Q's best interest to trade as this would increase their employment figures and GDP on account of higher production.
In conclusion, Country Q should trade more.
Find out more benefits of trade at https://brainly.com/question/11317503
Answer:
B) Try to trade with other nations to increase production and create jobs
Explanation:
what must managers be able to do if they want employees to understand the business’s goals and be productive?
Answers
Conceptual skills to understand the business’s goals and be productive.
Who needs conceptual skills?
The ability to see an organization's big picture is referred to as having conceptual talents. For instance, you can consider why you are undertaking a project before getting started, how it ties to the organization as a whole, and how it affects the surrounds.Conceptual abilities enable you to anticipate problems, come up with ideas for solutions, and comprehend the strategic large picture that drives a company's day-to-day operations. Although they are useful in any career, conceptual skills are particularly crucial for those in managerial positions.To know more about Conceptual skills here
https://brainly.com/question/28030134
#SPJ4
companies with an online presence sometimes send direct mail to customers to advertise sales. the direct marketing association has a website where consumers can state their preferences for what types of mail they do and do not wish to receive. this is an example of ___.
Answers
companies, and even countries supporting their home countries, have been accused of violating this world trade organization provision by selling products for a price less than the cost of production in order to capture market share and force competitors out of the market. this is known as .
Answers
restricts or replaces another country's exports to third countries; considerably lowers the price of a "like product" (a product that is identical to or comparable to one produced by another country); or expands the subsidizing country's global market share for a specific main good or commodity.
The WTO's six main goals are to: countries
(1) establish and uphold international trade regulations;
(2) offer a forum for negotiating and monitoring further trade liberalization;
(3) settle trade disputes;
(4) improve decision-making process transparency; and countries
(5) work with other significant international economic institutions. the primary variations. Ad hoc and provisional, GATT. There were no provisions for the formation of an organization in the General Agreement, which was never confirmed in the parliaments of the members. The WTO and the agreements it has made are eternal. The WTO's overarching goal is to support its members in using trade as a tool to enhance people's lives, raise living standards, and generate jobs commodity.
The WTO manages the world trade system and aids poorer nations in increasing their trade capability. In the exporter market, an export subsidy reduces consumer excess and increases producer surplus. A producer surplus is increased in the export market and decreased in the import country market as a result of an export subsidy. When a major country applies an export subsidy, national welfare is reduced commodity.
Learn more about commodity hear :
https://brainly.com/question/15291800
#SPJ4
The Big Hotel Brand has instituted a coaching program. What are the likely results?
The expenses for coaching will be higher than that of other types of training, but it is worth it.
Managers will find coaching too time consuming in the long run.
Productivity will be diminished because employees work less.
The hotel will develop a deep bench of talent.
Answers
Answer:
The expenses for coaching will be higher than that of other types of training, but it is worth it.The hotel will develop a deep bench of talent.Explanation:
The essence of coaching is to develop and support individuals to maximize their potential. In coaching, an more competent and experienced person, the coach, offers instructions and guidance that helps the learner unlock their abilities.
Coaching empowers individuals by developing their soft and interpersonal skills. It prepares them for bigger responsibilities in an organization. Coaching is costly in terms of budgets and the time-off that employees and managers require for the activities. However, the benefits of more competent and efficient employees outweigh the costs. Coaching ensures a company has a readily available pool of talents to take up higher positions or fill any vacancies should they emerge.
Specialty Products Company has a high turnover rate among its employees, especially those
who are young parents. Solution to this problem
Answers
The company has to first investigate the reason why young parents are leaving the company. This is the first step towards resolving the issues of high turnover.
If it is because of the inability to care for their kids while at work, then the company can solve this problem by:
Turnover in human resources refers to the act of replacing one employee with a new employee. Termination, retirement, death, interagency transfers, and resignations are examples of separations between organizations and personnel.
Turnover in human resources refers to the act of replacing one employee with a new employee. Termination, retirement, death, interagency transfers, and resignations are examples of separations between organizations and personnel.
Learn more about high turnover:
https://brainly.com/question/2309682
#SPJ1
Grouper Corporation reported income taxes of $364,977,000 on its 2022 income statement. Its balance sheet reported income taxes
payable of $277,983,000 at December 31, 2021, and $521,655,000 at December 31, 2022.
What amount of cash payments were made for income taxes during 2022?
Answers
Grouper Corporation made cash payments of $608,649,000 for income taxes during 2022. Income taxes refer to the taxes imposed on the taxable income of individuals, businesses, and other entities by the government.
To determine the amount of cash payments made for income taxes during 2022, we need to calculate the change in income taxes payable from December 31, 2021, to December 31, 2022.
Change in income taxes payable = Income taxes payable at December 31, 2022 - Income taxes payable at December 31, 2021
Change in income taxes payable = $521,655,000 - $277,983,000 = $243,672,000
The change in income taxes payable represents the increase in the amount owed for income taxes during the year. To find the cash payments made for income taxes, we need to adjust for the income taxes reported on the income statement.
Cash payments for income taxes = Change in income taxes payable + Income taxes reported on the income statement
Cash payments for income taxes = $243,672,000 + $364,977,000 = $608,649,000
Therefore, Grouper Corporation made cash payments of $608,649,000 for income taxes during 2022.
To know more about income taxes, click here, https://brainly.com/question/17075354
#SPJ11