A company applies overhead at a rate of 190% of direct labor cost. Actual overhead cost for the current period is $1.220700, and direct labor cost is $633,000. 1. Compute the under-or overapplied overhead. 2. Prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold. Compute the under- or overapplied overhead. Factory Overhead Actual overhead Applied overhead Underapplied overhead Prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold. View transaction list Journal entry worksheet < A Record the entry to close over- or underapplied overhead. Note: Enter debits before credits. Transaction General Journal Debit Credit 1

Answers

Answer 1

The journal entry to close overapplied overhead to Cost of Goods Sold would be: Debit Cost of Goods Sold by $19,000Credit Factory Overhead by $19,000

To compute the under- or overapplied overhead:

1: Compute the applied overhead cost

Overhead rate is 190% of direct labor cost.

Direct labor cost is $633,000.Overhead cost = 190% × $633,000= 1.9 × $633,000= $1,201,700.

2: Compute underapplied or overapplied overhead

Actual overhead cost is $1,220,700.

Applied overhead cost is $1,201,700.

Underapplied or overapplied overhead = Actual overhead cost – Applied overhead cost= $1,220,700 – $1,201,700= $19,000 (overapplied overhead)

Therefore, the overapplied overhead is $19,000. It means that the company estimated more than the actual overhead expenses. Now we need to prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold.

The journal entry to close overapplied overhead to Cost of Goods Sold is as follows:Transaction General Journal Debit Credit Cost of Goods Sold 19,000 Factory Overhead 19,000 (To close overapplied overhead to Cost of Goods Sold)

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Related Questions

You are going to buy stock of Imedi Co.
Company's currently EPS (earning per share) is $14 $ and it is expected it will grow at 2%;
Firm’s industry average PE ratio equals = 8
It is expected company will pay 4 dollar dividend during the next 3 years.
What is the value of stock if you plan to sell stocks after three years from now and your REQUIRED RATE OF RETURN is 12%?

Answers

To calculate the value of the stock, we can use the dividend discount model (DDM) formula, which takes into account the expected dividends and the required rate of return.

First, let's calculate the future dividends. The company is expected to pay a $4 dividend for the next 3 years. We can assume a constant growth rate of 2% for these dividends, so the future dividends would be:

Year 1: $4

Year 2: $4 * (1 + 2%) = $4.08

Year 3: $4.08 * (1 + 2%) = $4.16

Next, we need to determine the terminal value of the stock after 3 years. We can use the constant growth dividend discount model to calculate this. Since the growth rate is given as 2%, we can assume that the stock will continue growing at this rate. The terminal value can be calculated as follows:

Terminal Value = Year 3 Dividend * (1 + Growth Rate) / (Required Rate of Return - Growth Rate)

Terminal Value = $4.16 * (1 + 2%) / (12% - 2%)

Now, let's calculate the present value of the future dividends and the terminal value using the required rate of return of 12%:

PV = Dividend / (1 + Required Rate of Return)^n

PV(Year 1) = $4 / (1 + 12%)^1

PV(Year 2) = $4.08 / (1 + 12%)^2

PV(Year 3) = $4.16 / (1 + 12%)^3

PV(Terminal Value) = Terminal Value / (1 + 12%)^3

Finally, we sum up the present values of the dividends and the terminal value to get the value of the stock:

Stock Value = PV(Year 1) + PV(Year 2) + PV(Year 3) + PV(Terminal Value)

Calculate each of the present values and sum them to find the value of the stock after 3 years.'

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Applying the Accounting Equation and Computing Financing Proportions Use the accounting equation to compute the missing financial amounts. Assets = Liabilities + Equity $113,331 $74,389 $ $19,110 $ ($

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Liabilities = $74,389

Equity = $19,110

What are the values of liabilities and equity?

The accounting equation, Assets = Liabilities + Equity, provides a framework for understanding the financial position of a company. By rearranging the equation, we can compute the missing financial amounts. Given the total assets of $113,331, we subtract the known value of liabilities ($74,389) to find the missing equity.

Therefore, the equity is $38,942 ($113,331 - $74,389). Additionally, we can determine the missing liabilities by subtracting the known equity ($19,110) from the total assets. Hence, the missing liabilities amount to $94,221 ($113,331 - $19,110).

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a. What is InsurTech? the major four technology enablers of InsurTech with their applications. b. Explain the list t the RegTech Ecosystem with brief description of role of each stakeholder in the RegTech Ecosystem.

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a. InsurTech is a portmanteau of insurance and technology. It refers to the use of technology, such as mobile apps, artificial intelligence, and big data, to disrupt and innovate traditional insurance practices. Four major technology enablers of InsurTech and their applications are Artificial intelligence (AI), Internet of Things (IoT), Blockchain, Big data analytics.

b. The RegTech ecosystem consists of several stakeholders, including: Regulators, Financial institutions, RegTech vendors, Investors.

a. InsurTech is a portmanteau of insurance and technology. It refers to the use of technology, such as mobile apps, artificial intelligence, and big data, to disrupt and innovate traditional insurance practices. It enables insurance companies to offer customized products, streamline their operations, and reduce costs. Four major technology enablers of InsurTech and their applications are:

1. Artificial intelligence (AI): AI helps in underwriting and risk management, customer engagement, and claims processing. It can automate repetitive tasks, identify fraud, and provide personalized recommendations.

2. Internet of Things (IoT): IoT devices, such as telematics, wearable sensors, and smart home devices, can provide real-time data on the insured item and the environment. It can help in risk assessment, loss prevention, and predictive modeling.

3. Blockchain: Blockchain provides secure, transparent, and decentralized record-keeping of transactions. It can enable faster settlements, reduce fraud, and increase trust between parties.

4. Big data analytics: Big data analytics can help in data mining, pattern recognition, and predictive modeling. It can provide insights into customer behavior, market trends, and risk factors.

b. RegTech (Regulatory Technology) is the use of technology to help financial institutions comply with regulatory requirements. The RegTech ecosystem consists of several stakeholders, including:

1. Regulators: Regulators are responsible for enforcing regulations and monitoring compliance. They can use RegTech solutions to streamline their supervision and reduce compliance costs.

2. Financial institutions: Financial institutions, such as banks, insurers, and investment firms, are subject to various regulations that govern their operations and transactions. They can use RegTech solutions to automate compliance processes, monitor risks, and reduce errors.

3. RegTech vendors: RegTech vendors provide software and services that help financial institutions comply with regulations. They can offer solutions for data management, reporting, monitoring, and analysis.

4. Investors: Investors can provide funding and support for RegTech startups and initiatives. They can benefit from the increased efficiency and transparency of financial markets that result from RegTech solutions.

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Q. what are the Latest Amendments of all Labour Law Acts ?
Write in your own words.
It should be neatly typed and written in around 500-600 words (Softcopy only)
Before submission, please check for plagiarism only in case of less than 10% similarity assignment will be accepted.
Course Outline:
Growth of Factory Legislation in India, Regulation of Factories under the Factories Act, 1948
Responsibility for payment of wages and delay and deduction of wages under the Payment of Wages Act, 1936; Recovery of wages under the Payment of Wages Act, 1936.
Salient features of "The Employees Provident Fund Act, 1952" and
"The Employee’s State Insurance Act, 1948" (8 Sessions)
Salient features of "The Workmen’s compensation Act, 1923" and
Contract Labour (Regulation and Abolition) Act, 1970 (8 Sessions)
Discipline and Grievances Procedure; the concepts and nature of discipline, Principles and Practices of Domestic Enquiry, Handling of grievances, Grievances procedure

Answers

There are several key labor law acts that govern employment and labor relations in many countries. While I cannot provide the latest amendments to these acts, I can provide you with a brief overview of some prominent labor law acts:

1. Fair Labor Standards Act (FLSA): This act establishes the federal minimum wage, overtime pay, child labor regulations, and record-keeping requirements for employers in the United States.

2. Occupational Safety and Health Act (OSHA): This act aims to ensure safe and healthy working conditions for employees in the United States by setting standards, providing training, and conducting inspections to enforce workplace safety regulations.

3. National Labor Relations Act (NLRA): Also known as the Wagner Act, this act governs labor relations in the United States. It protects the rights of employees to engage in collective bargaining, form labor unions, and engage in concerted activities for mutual aid and protection.

4. Equal Employment Opportunity Laws: These laws, including the Civil Rights Act of 1964, the Americans with Disabilities Act (ADA), and the Age Discrimination in Employment Act (ADEA), prohibit discrimination based on factors such as race, color, religion, sex, disability, and age in the workplace.

5. Employment Rights Acts: These acts, found in various countries, protect employees' rights in areas such as termination of employment, unfair dismissal, redundancy, and employment contracts.

6. Workers' Compensation Acts: These acts establish a system for providing compensation and benefits to employees who suffer work-related injuries or illnesses. They typically require employers to provide insurance coverage for such incidents.

7. Maternity and Parental Leave Acts: Many countries have legislation that grants employees the right to maternity or parental leave, allowing them to take time off work to care for a newborn or newly adopted child while retaining job security.

It is important to note that labor law acts vary from country to country, and each jurisdiction may have its own specific legislation. Additionally, labor laws are subject to amendments and updates over time, so it is crucial to consult official sources or legal professionals for the most current information on specific labor law acts in your jurisdiction.

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Your company originally only had one location, but recently opened a second office. They are finding out that personnel in the two offices have a difficult time communicating with each other and sharing information. How would a Collaboration tool, like Microsoft Teams, improve the situation? Provide details and examples.

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Implementing a collaboration tool like Microsoft Teams can significantly improve communication and information sharing between the two offices, addressing the challenges faced by personnel. Here's how:

1. Real-Time Communication: Microsoft Teams provides a platform for instant messaging, audio calls, and video conferences. Employees in both offices can easily communicate in real-time, fostering quick and efficient collaboration. They can ask questions, share updates, and seek clarifications, eliminating delays caused by traditional communication methods like email or phone calls.

2. Virtual Meetings and Webinars: Teams offers features for hosting virtual meetings and webinars, allowing teams from different locations to come together for discussions, presentations, and knowledge sharing. It enables face-to-face interactions, ensuring that important discussions and decision-making processes involve all relevant personnel, regardless of their physical location.

3. Document Collaboration: With Teams, employees can create, edit, and share documents in real-time using the integrated Microsoft Office applications. Multiple team members can collaborate on a single document simultaneously, eliminating the need for back-and-forth emails or version control issues. This ensures that everyone has access to the latest information and can contribute to shared projects seamlessly.

4. File Sharing and Storage: Teams provides a centralized location for storing and sharing files. Employees in both offices can access important documents, presentations, and other resources from a single platform. This promotes easy file sharing, version control, and ensures that all team members have access to the necessary information, regardless of their physical location.

5. Team Channels and Discussions: Teams offers the ability to create dedicated channels and discussion threads for specific projects, topics, or teams. This facilitates organized communication and keeps discussions focused. Employees can participate in relevant discussions, contribute ideas, ask questions, and stay updated on the progress of different initiatives.

6. Integration with Other Tools: Microsoft Teams integrates seamlessly with other productivity tools, such as SharePoint, OneNote, and Planner. This allows for efficient task management, project tracking, and easy access to related resources, further enhancing collaboration and information sharing across offices.

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The information below relates to the Cash account in the leger of Mausi Company Balance September 1-$25,700: Cash deposited-506,000 Balance September 30-$24,300, Checks written-107,400 Mausi Company received the September bank statement which showed a cash balance of $22.325 on September 30 Upene a) At September 30, deposits in transit were $4.925, and outstanding checks totaled $3,635 b) The bank charged $65 to Mausi Company for the rent of a safety deposit box c) Interest eamed on the checking account was $55. d) A customer's check for $675 marked NSF was returned by the bank INSTRUCTIONS: (1) Prepare the bank reconciliation at September 30, MAKE SURE YOU INDICATE IF YOU ARE SUBTRACTING BY PLACING THE NUMBER BETWEEN PARENTHESESOR BY PUTTING A NEGATIVE SIGN BEFORE THE NUMBER (-) (2) Prepare the necessary journal entries in good form. MAKE SURE TO LEAVE ONE SPACE BETWEEN ENTRIES

Answers

The bank reconciliation statement of Mausi Company at September 30 shows an adjusted balance of $23,615.

What is the Bank Reconciliation Statement?

Balance per Bank Statement:

September 30 Bank Statement Balance: $22,325

Deposits in Transit: +$4,925

Outstanding Checks: -$3,635

Adjusted Bank Balance     $23,615

Balance per Books:

September 30 Book Balance: $24,300

Bank Service Charge for Safety Deposit Box: -$65

Interest Earned: +$55

NSF Check: -$675

Adjusted Book Balance  $23,615.

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the differences between
competitive and cooperative negotiation styles. Both styles can be
effective. share some initial thoughts about which style you may
prefer and why?

Answers

Competitive negotiation style is one that emphasizes winning over any other goal. In contrast, a cooperative negotiation style is one that prioritizes the achievement of mutual gains over individual wins.

In competitive negotiation, the negotiators attempt to obtain the best possible outcome for themselves, regardless of the other parties' concerns or objectives. On the other hand, a cooperative negotiation style is one in which parties work together to develop mutually beneficial solutions. Co-operative negotiation techniques are particularly useful in long-term business relationships where both parties must profit to remain viable. Sharing a few initial thoughts on which negotiation style I may prefer and why, I would choose a cooperative negotiation style. I would prefer this style as it seeks mutual benefit, understanding, and cooperation between the parties involved.

It seeks to create a win-win scenario rather than just a win-lose scenario. In addition, a cooperative style is particularly useful when parties are negotiating a complex matter that requires input from many sources. Parties may bring a wealth of knowledge and experience to the table that, when combined, can lead to a more innovative and effective solution. Finally, in cooperative negotiations, parties aim to preserve a positive relationship throughout and after the negotiation process. This is because they believe that an ongoing relationship is valuable and would like to retain it despite the outcome of the negotiation.

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which of the following represents an aspect of the empathy dimension of servqual?

Answers

Assurance. By providing assurance, the company establishes trust, reliability, and confidence with its customers.

Empathy refers to the ability of service providers to recognize, understand, and take into account their customers' thoughts, feelings, and situations. Empathy is the fifth and final dimension of SERVQUAL.The Empathy dimension refers to the degree to which the company provides caring and individualized attention to its customers.

Following are the aspects of the empathy dimension of SERVQUAL: Understand the customer's needsGenuinely care about the customer Understand the customer's specific situation Empathize with the customer in regards to their problems. Assurance refers to the competency and trustworthiness of the firm and its employees.

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The right(option) to enter into a swap receiving a fixed rate is called 1 receiver swaption 2 payer swaption 3 forward rate agreements 4 zero-cost collar

Answers

The right to enter into a swap receiving a fixed rate is known as a payer swaption. The correct answer is option (2).

The right to enter into a swap receiving a fixed rate is called a 2) payer swaption. A swaption is an option on a swap, and a payer swaption gives the holder the right, but not the obligation, to enter into a swap where they would pay the fixed rate and receive the floating rate. It grants the holder the option to enter into a swap where they would pay the fixed rate and receive the floating rate. This provides flexibility to the holder in taking advantage of favorable interest rate movements. Hence option (2) is the correct answer.

It provides the holder with the flexibility to take advantage of favorable interest rate movements. If the market interest rates rise above the fixed rate, the holder can choose not to exercise the swaption and avoid entering into the swap. However, if the market interest rates fall below the fixed rate, the holder can exercise the swaption and lock in the lower fixed rate.

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If your company maintains a 70/30 Debt/Equity split, your after-tax cost of debt is 6%, and your cost of equity is 16%, what is your Weighted Average Cost of Capital? Assume a 25% tax rate. O 11.0% 8.6% 9.0% 8.0% O 17.6%

Answers

The Weighted Average Cost of Capital (WACC) is a calculation of a company's total expense of capital, which includes both equity and debt. To calculate WACC, we need to multiply the cost of equity and debt by their weights, then add up the results. The formula for calculating WACC is:

WACC = (E/V × Re) + (D/V × Rd) × (1 - Tc)
E = market value of the company's equity
D = market value of the company's debt
V = total capitalization (E + D)
Re = cost of equity
Rd = cost of debt
Tc = corporate tax rate

Given that the company maintains a 70/30 Debt/Equity split, we can assume that the weight of debt is 0.70, while the weight of equity is 0.30. We can also assume that the cost of debt is 6%, and the cost of equity is 16%. The corporate tax rate is 25%.

Using the formula above, we can calculate the WACC as follows:
WACC = (0.3 × 0.16) + (0.7 × 0.06) × (1 - 0.25)
WACC = 0.048 + 0.0375
WACC = 0.0855 or 8.55%

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If firms in a perfectly competitive market a currently experiencing profits then O market demand will decrease. O market demand will increase. O market supply will increase. O market supply will decrease.

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If firms in a perfectly competitive market a currently experiencing profits then market supply will decrease. 4th option is the correct one.

In a perfectly competitive market, there are many buyers and sellers who are price takers, meaning they have no control over the market price. The market is characterized by the following conditions:

Many buyers and sellers: There are numerous buyers and sellers in the market, none of whom have a significant market share or market power.Homogeneous products: The goods or services being sold in the market are identical or nearly identical, so consumers perceive them as perfect substitutes.Free entry and exit: Firms can freely enter or exit the market without barriers or restrictions, ensuring a large number of sellers in the long run.Perfect information: Buyers and sellers have access to complete and accurate information about prices, quality, and other relevant factors.Perfect factor mobility: Resources, such as labor and capital, can move freely between different firms and industries.

If firms in a perfectly competitive market are currently experiencing profits, it implies that the market price is above the average cost of production for the firms. In this case, the entry of new firms or the expansion of existing firms is likely to occur, leading to an increase in market supply. Therefore, the correct answer is: Market supply will increase.

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The Haliburton Construction Company has common and preferred stock outstanding. The preferred stock pays an annual dividend of $7.50 per share, and the required rate of return for similar preferred stocks is 11%. The common stock paid a dividend of $3.00 per share last year, but the company expected that earnings and dividends will grow by 25% for the next two years before dropping to a constant 9% growth rate afterward. The required rate of return on similar common stocks is 13%.
a)Calculate the expected market price of the share in one year.
b)Calculate the expected dividend yield and capital gains yield expected at the end of the
first year.

Answers

a) The expected market price of the common stock in one year can be calculated using the dividend discount model (DDM). Market Price = $3.75 / (0.13 - 0.09) ≈ $93.75

The DDM formula for the expected market price (P1) is P1 = D1 / (r - g), where D1 is the expected dividend in one year, r is the required rate of return, and g is the expected growth rate. In this case, D1 = $3.00 * (1 + 0.25) = $3.75, r = 13%, and g = 25%.

Plugging these values into the formula, we get P1 = $3.75 / (0.13 - 0.25) = -$46.88. However, this negative value suggests an error in the calculations or assumptions, as stock prices cannot be negative. Please review the input data and calculations to rectify this issue.

b) The dividend yield is the ratio of the dividend per share to the stock price. In this case, the dividend yield at the end of the first year can be calculated as Dividend Yield = D1 / P1. Given D1 = $3.75 (calculated in part a), we need to determine the expected market price of the share in one year (P1).

Unfortunately, due to the negative value obtained in part a, we cannot accurately calculate the dividend yield without correcting the issue. The capital gains yield, which represents the expected change in stock price, cannot be determined without a valid market price calculation.

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Quantity discounts are not a form of price discrimination because the firm saves on handling large orders. True or false? Explain.
(a) Why are first-and second-degree price discrimination less common than third-degree price discrimination? (b) Are lower airline fares at midweek an example of third-degree price discrimination? (c) Under what conditions would it not be useful to charge different prices in different markets (i.e., practice third-degree price discrimination) even if possible?

Answers

Quantity discounts can be considered a form of price discrimination, but not solely because of the firm's savings on handling large orders. While it is true that firms may save on handling costs with larger orders, quantity discounts primarily aim to incentivize customers to purchase larger quantities by offering lower prices per unit.

This pricing strategy allows the firm to capture additional revenue from customers who have a higher willingness to pay. Therefore, quantity discounts are a form of price discrimination as they involve charging different prices based on the quantity purchased. First- and second-degree price discrimination are less common than third-degree price discrimination due to various reasons. First-degree price discrimination, also known as perfect price discrimination, involves charging each customer their maximum willingness to pay. However, this type of price discrimination is challenging to implement as firms would require perfect information about each customer's willingness to pay, which is often impractical. Second-degree price discrimination involves charging different prices based on quantity or bundling strategies, which can be more complex to implement and may not be applicable to all industries.

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A firm that maintains an optimal capital structure
a. has minimized taxes.
b. has minimized debt issues.
c. is at its debt capacity.
d. has maximized its investment.
e. has maximized its value.

Answers

The correct answer is e. has maximized its value. The firm that maintains an optimal capital structure has maximized its value by finding the right balance between debt and equity financing to minimize the cost of capital and maximize shareholder value.

How does a firm achieve an optimal capital structure?

Maintaining an optimal capital structure means finding the right balance between debt and equity financing to maximize the overall value of the firm. It involves determining the appropriate mix of debt and equity that minimizes the firm's cost of capital and maximizes its value.

While minimizing taxes and debt issues can be important considerations in managing a firm's capital structure, they are not the primary focus. Minimizing taxes may be one objective, but it does not necessarily lead to an optimal capital structure. Similarly, minimizing debt issues is important to avoid excessive financial risk, but it does not guarantee an optimal capital structure.

Being at its debt capacity means that the firm has reached the maximum amount of debt it can take on based on its financial capacity and risk tolerance. However, this does not necessarily imply that the firm has achieved an optimal capital structure.

Maximizing investment is related to the firm's capital budgeting decisions and the allocation of funds to various investment projects. While capital structure can have an impact on investment decisions, it is not the sole determinant. Therefore, it is not directly associated with maintaining an optimal capital structure.

Ultimately, the primary goal of maintaining an optimal capital structure is to maximize the overall value of the firm, considering factors such as cost of capital, risk, and shareholder value.

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A series of value-added activities or tasks that are linked together to convert inputs to outputs (product or service) is known as a:

Internal Control

Business Process

Shared Service

Process Hierarchy

Answers

The correct answer is "Business Process."

A business process refers to a series of value-added activities or tasks that are linked together in a specific order to convert inputs into outputs, which can be either a product or a service. Business processes encompass all the activities and steps involved in producing goods or delivering services within an organization.

Business processes are designed to achieve specific goals and outcomes, and they typically involve multiple stakeholders, departments, and resources. They may include activities such as procurement, production, marketing, sales, customer service, and support. Each activity within a business process contributes to the overall value creation and delivery to customers or clients.

Business processes can be formalized through documented procedures, workflows, and standard operating practices to ensure consistency, efficiency, and effectiveness. They often involve the use of technology, information systems, and collaboration among different functional areas to streamline operations and achieve desired outcomes.

Understanding and optimizing business processes is crucial for organizations to enhance productivity, reduce costs, improve quality, and meet customer demands. By analyzing and improving business processes, organizations can identify bottlenecks, eliminate redundancies, and enhance overall performance and competitiveness in the market.

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1. What is the Present Value of a corporate bond with 30 years remaining to maturity, a PAR value of $10,000, a coupon rate of 9%, and a Yield To Maturity of 7.5%?

Answers

the present value of the corporate bond is approximately $13,170.15.

How to calculate the present value

The present value formula for a bond is:

PV = (C / (1 + r)^1) + (C / (1 + r)^2) + ... + (C / (1 + r)^n) + (F / (1 + r)^n)

Where:

PV = Present value

C = Coupon payment

r = Yield to maturity rate

n = Number of periods (years)

Given the following details:

Coupon rate (C) = 9%

Yield to maturity (r) = 7.5%

Number of periods (n) = 30 years

Par value (F) = $10,000

Let's calculate the present value:

PV = (900 / (1 + 0.075)^1) + (900 / (1 + 0.075)^2) + ... + (900 / (1 + 0.075)^30) + (10,000 / (1 + 0.075)^30)

PV ≈ $13,170.15

Therefore, the present value of the corporate bond is approximately $13,170.15.

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Sama company has the following unadjusted account balances at December 31, 2021, Total Sales of $720,000, Accounts Receivable of $205,000 and the allowance was estimated as 3.5% of the total Account Receivable. The Allowance for Doubtful Accounts had a credit balance of $2,400, before the estimate was made. 2 points SAVE ATTRAY Required:

Answers

The adjustment needed for the Allowance for Doubtful Accounts is $4,775. This adjustment will be made to increase the credit balance of the Allowance for Doubtful Accounts,  To calculate the required adjustment for the Allowance for Doubtful Accounts, we need to determine the estimated allowance amount based on the given information.

Accounts Receivable: $205,000

Estimated allowance rate: 3.5%

Estimated Allowance for Doubtful Accounts = Accounts Receivable * Estimated allowance rate

Estimated Allowance for Doubtful Accounts = $205,000 * 3.5% = $7,175

Next, we need to determine the adjustment needed to bring the credit balance of the Allowance for Doubtful Accounts to the estimated allowance amount.

Credit balance of the Allowance for Doubtful Accounts before estimate: $2,400

Estimated Allowance for Doubtful Accounts: $7,175

Adjustment = Estimated Allowance for Doubtful Accounts - Credit balance of Allowance for Doubtful Accounts before estimate

Adjustment = $7,175 - $2,400 = $4,775

The adjustment needed for the Allowance for Doubtful Accounts is $4,775. This adjustment will be made to increase the credit balance of the Allowance for Doubtful Accounts, reflecting the estimated allowance for potential bad debts related to the Accounts Receivable balance.

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Mr. Potts issued a 90-day, 7% note for $200,000, dated February 3 to Valley Co, on account. (Assume a 360-day year when calculating interest.) 4 Required: a. Determine the due date of the note b. Determine the interest c. Determine the maturity value of the note d. Journalize the entry to record the receipt of the note from Potts on Feb. 3.* e Journalize the entry to record the receipt of payment of the note at maturity by Valley Co "Refer to the Chart of Accounts for exact wording of account titles

Answers

a. The due date of the note is May 4.
To find out the due date, you need to add the number of days in the term of the note (90 days) to the date it was issued (February 3).

February has 28 days, so you need to add 62 days to that (90 - 28 = 62).

March has 31 days, so you need to subtract 31 from that (62 - 31 = 31).

That leaves you with 31 days in April, so the due date is May 4 (May 1 + 3 days grace period).

b. The interest on the note is $3,500.

To find out the interest, you need to multiply the principal amount of the note ($200,000) by the interest rate (7%) by the time (90/360).

$200,000 x 0.07 x 90/360 = $3,500.

c. The maturity value of the note is $203,500.

To find out the maturity value, you need to add the principal amount of the note ($200,000) to the interest ($3,500).

$200,000 + $3,500 = $203,500.

d. The journal entry to record the receipt of the note from Potts on Feb. 3 is:

Notes Receivable      200,000
Accounts Receivable - Valley Co      200,000

e. The journal entry to record the receipt of payment of the note at maturity by Valley Co is:

Cash      203,500
Notes Receivable      200,000
Interest Revenue      3,500

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Barrett Historical Society, a nonprofit organization, charges a $100 annual membership. Of this amount, $25 is designed to cover quarterly newsletters, and the remainder is considered to be a contribution. What standard(s) should Barret consider in recording membership revenue for these two components? OASU 2018-08 (nonexchange transactions) would be used to report both components $25 for newsletter and $75 contribution. - Topic 606 (exchange transactions) would be used to report both components $25 for newsletter and $75 contribution. ASU 2018-08 (nonexchange transactions) would be used to report $25 for newsletter and Topic 606 (exchange transactions) would be used to report $75 contribution. Topic 606 (exchange transactions) would be used to report $25 for newsletter and ASU 2018-08 (nonexchange transactions) would be used to report $75 contribution.

Answers

In this situation, the standards should Barret consider in recording participation income for these two parts ASU 2018-08 (non-exchange transactions) would be used to report $25 for the newsletter, and Theme 606 (trade exchanges) would be utilized to report a $75 commitment.

The option (C) is correct.

This standard is material on the grounds that the pamphlets are viewed as an advantage or corresponding exchange got by the individuals in return for their installment.

ASU 2018-08 gives direction on bookkeeping to commitments and explains that when a substance gets thought in a not-for-profit exchange, it ought to be perceived as income as per the trade exchange direction.

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This question is not complete, Here I am attaching the complete question:

Barrett Historical Society, a nonprofit organization, charges a $100 annual membership. Of this amount, $25 is designed to cover quarterly newsletters, and the remainder is considered to be a contribution. What standard(s) should Barret consider in recording membership revenue for these two components?

(A) ASU 2018-08 (nonexchange transactions) would be used to report both components $25 for newsletter and $75 contribution.

(B) Topic 606 (exchange transactions) would be used to report both components $25 for newsletter and $75 contribution.

(C) ASU 2018-08 (nonexchange transactions) would be used to report $25 for newsletter and Topic 606 (exchange transactions) would be used to report $75 contribution.

(D) Topic 606 (exchange transactions) would be used to report $25 for newsletter and ASU 2018-08 (nonexchange transactions) would be used to report $75 contribution.

A company racing to stake out a strong position in an industry of the future often utilizes strategic alliances and collaborative partnerships in order to

Answers

A company racing to stake out a strong position in an industry of the future often utilizes strategic alliances and collaborative partnerships in order to leverage resources, expertise, and market opportunities.

These alliances allow the company to access new technologies, capabilities, and knowledge that they may not possess internally. By forming strategic alliances, a company can combine its strengths with those of other organizations to create synergies and accelerate growth. They can pool resources, share risks, and collectively pursue market opportunities. Strategic alliances also enable companies to enter new markets, expand their customer base, and gain a competitive edge.

Strategic alliances and collaborative partnerships also offer the flexibility to respond to industry dynamics, mitigate competitive threats, and navigate regulatory complexities. They can help companies navigate market entry barriers, establish credibility, and build relationships with key stakeholders. Overall, these alliances enable companies to enhance their competitive position, increase market share, and shape the trajectory of the industry of the future by leveraging shared expertise, resources, and opportunities for mutual growth.

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Stipulate eight possible reasons that could necessitate the launch of a facility layout project. 3.2 There exists in literature numerous plant design and planning methodologies. Differentiate between Apple's Plant Layout Procedure and Reed's Plant Layout Procedure.

Answers

Launching a facility layout project may be necessitated by various reasons, including: 1) facility expansion or relocation, 2) introduction of new products or services, 3) optimization of workflow and production efficiency, 4) adoption of new technology or machinery, 5) improvement of safety and ergonomics, 6) cost reduction and waste elimination, 7) compliance with regulatory requirements, and 8) adaptation to changing market demands.

Regarding the differentiation between Apple's Plant Layout Procedure and Reed's Plant Layout Procedure, specific information about these methodologies is limited. However, based on the nature of Apple as a technology-driven company, its plant layout procedure may emphasize efficient space utilization, integration of advanced technologies, and fostering employee collaboration. Apple's approach might prioritize creating innovative workspaces and optimizing the flow of materials and information.

On the other hand, Reed's Plant Layout Procedure might focus on factors such as flexibility, scalability, and lean manufacturing principles. It may aim to design layouts that can adapt to changing production needs, accommodate future growth, and reduce waste in processes. The methodology may involve techniques like value stream mapping and continuous improvement to optimize plant layouts and enhance overall operational efficiency. To provide a more detailed differentiation, further analysis and specific guidelines from Apple and Reed would be required.

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Which of the following problems might cause the NPV and IRR methods to give conflicting results?

A. Scale problem

B. Imaginary results problem

C. Timing problem

D. Both A and C

E. None of the above

Answers

The problems that can cause NPV and IRR to give conflicting results are:Scale problem and Timing problem

So, the answer is D. Both A and C

Net Present Value (NPV) and Internal Rate of Return (IRR) are two of the most widely used methods for analyzing the viability of investment opportunities. Because they depend on different approaches to determining profitability, the NPV and IRR methods may occasionally conflict.

The Net Present Value method determines the present value of an investment's expected cash inflows and outflows using a discount rate. This method is used to measure the profitability of an investment.

The Internal Rate of Return method is a discount rate that makes the net present value of the project equal to zero. This method is used to determine the investment's rate of return that will equate the present value of all the cash inflows and outflows

Hence, the answer is D.

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Barb is 50 years old and has already accumulated a little less than $700,000 toward her retirement funding need. Unfortunately, her financial planner has told her that she needs an additional $1,810,242 to fully fund her retirement. Barb plans to retire when she is 65 and can earn a 7% annual return on her investments.
What is the level payment that Barb will need to make at the end of each year (for the next 15 years) to reach her goal? (Round your answer.)

Answers

Barb is 50 years old and has accumulated almost $700,000 toward her retirement funding need. The level of payment that Barb will need to make at the end of each year (for the next 15 years) to reach her goal is $54,191.93.

The calculation for this is given below:

PV = $700,000 (current savings)

FV = $1,810,242 (total needed)

N = 15 years

YR = 7%CPT

PMT = $54,191.93

Therefore, the level of payment that Barb will need to make at the end of each year (for the next 15 years) to reach her goal is $54,191.93.

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Consumer Decision Process
Identify a discussion forum of electric cars on non-commercial websites and analyze the discussion in relation to the five stages of the purchasing decision process.
Address the first 2 stages of the process (Need Recognition & Information Search) and relate relevant information from the discussion forum to these stages. Please give TWO specific examples from the forums for each stage you were assigned. Explain how they relate to these stages.

Answers

1. Need Recognition:

In the Need Recognition stage, consumers become

aware of a gap

between their current state and a desired state. They recognize a need or want that can be fulfilled by purchasing a product or service. In the context of electric cars, discussions in a forum may include the following:

Example 1:

Forum User A: "I'm tired of spending so much money on gas every month. I need a more cost-effective and

environmentally

friendly option for transportation."

Example 2:

Forum User B: "I want to reduce my carbon footprint and contribute to a cleaner environment. Switching to an electric car seems like a great way to achieve that."

These examples demonstrate how individuals in the forum recognize the need for an electric car based on factors such as cost savings and environmental concerns.

2. Information Search:

After recognizing the need, consumers engage in an information search to gather information about potential solutions and evaluate available options. In a discussion forum, users may share their

research findings

, ask questions, and provide opinions on various aspects of electric cars:

Example 1:

Forum User C: "I've been researching electric car models and found that the Tesla Model 3 has a longer range compared to other brands. Can anyone confirm this?"

Example 2:

Forum User D: "I'm concerned about the availability of charging stations in my area. Does anyone have experience with charging

infrastructure

in rural locations?"

These examples illustrate how users in the forum actively seek information to evaluate different electric car models based on features like range and charging infrastructure. They rely on the experiences and opinions of other forum members to make informed decisions.

Remember, the actual content and discussions in specific forums may vary. It's important to conduct real-time research and analysis in relevant forums to gather specific examples and insights related to the consumer decision process for electric cars.

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Olin Transmissions, Inc., has the following estimates for its new gear assembly project: price = $1,400 per unit; variable costs = $220 per unit; fixed costs = $3.9 million; quantity = 85,000 units. Suppose the company believes all of its estimates are accurate only to within

Answers

For the best-case scenario analysis, Olin Transmissions, Inc. should use a price of $1,610 per unit, variable costs of $187 per unit, fixed costs of $3.9 million, and a quantity of 97,750 units.

To perform a best-case scenario analysis, the company should consider the most favorable values for each variable. Here are the calculations:

1. Price:

Best-case scenario: The price should be at the upper end of the estimated range, which is 15% above the estimated price.

Best-case price = $1,400 + ($1,400 * 0.15)

= $1,400 + $210

= $1,610 per unit

2. Variable costs:

Best-case scenario: The variable costs should be at the lower end of the estimated range, which is 15% below the estimated variable costs.

Best-case variable costs = $220 - ($220 * 0.15)

= $220 - $33

= $187 per unit

3. Fixed costs:

Fixed costs are not subject to the ± 15% variation as they are a predetermined amount. Therefore, the company should use the estimated value of $3.9 million for the fixed costs in the best-case scenario analysis.

4. Quantity:

Best-case scenario: The quantity should be at the upper end of the estimated range, which is 15% above the estimated quantity.

Best-case quantity = 85,000 + (85,000 * 0.15)

= 85,000 + 12,750

= 97,750 units

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The complete question is:

Olin Transmissions, Inc., has the following estimates for its new gear assembly project: price = $1,400 per unit; variable costs = $220 per unit; fixed costs = $3.9 million; quantity = 85,000 units. Suppose the company believes all of its estimates are accurate only to within ± 15%. What values should the company use for the four variables given here when it performs its best-case scenario analysis?

Emmanuel exercised a nonstatutory stock option on March 14, 2021. He purchased 200 shares of his company's stock for $6,000. The fair market value of the stock at the time of purchase was $8,000. He included the $2,000 difference between the fair market value and the purchase price as compensation income when he filed his 2021 return. What is Emmanuel's basis in the underlying stock?
$0
$2,000
$6,000
$8,000

Answers

Emmanuel's basis in the underlying stock is $8,000. The correct option is d)

Emmanuel exercised a non statutory stock option on March 14, 2021. He purchased 200 shares of his company's stock for $6,000. The fair market value of the stock at the time of purchase was $8,000. He included the $2,000 difference between the fair market value and the purchase price as compensation income when he filed his 2021 return.

The basis of a nonstatutory stock option (NSO) is the purchase price plus any compensation that was included in the purchaser's gross income when the option was exercised. Since Emmanuel included the $2,000 difference between the fair market value and the purchase price as compensation income when he filed his 2021 return, his basis in the underlying stock is $8,000.

This is because Emmanuel would have used the option to buy shares that had a fair market value of $8,000. Thus, Emmanuel's basis in the stock would be the $6,000 purchase price of the shares, plus the $2,000 compensation income that he included when he filed his tax return.

The following is a breakdown of Emmanuel's basis in the underlying stock: $6,000 (Purchase price of the stock)$2,000 (Compensation income)$8,000 (Total Basis in the Underlying Stock)

Therefore, Emmanuel's basis in the underlying stock is $8,000.

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Sharp Co. bonds are selling in the market for $1,127.02. These bonds have 12 years remaining until maturity, and pay 7.5% coupon interest semi-annually on a $1,000 par value. What is the annual yield to maturity of the bonds? a. 8.0%
b. 7.5% c. 9.0% d. 3.0% d. 6.0%

Answers

The price of the bond is $1,127.02 with 12 years remaining till maturity, and a semi-annual coupon of 7.5% on a $1,000 par value. We must calculate the bond's annual yield to maturity. Let us begin by calculating the semi-annual payment that will be made on the bond. The correct option is b .

For a $1,000 par value bond and a semi-annual coupon rate of 7.5 percent, the coupon payment is:$1,000 * (7.5% / 2) = $37.50 per payment period.

Now we must calculate how many payments will be made over the remaining life of the bond. Since there are 12 years remaining until the bond matures, and payments are made semi-annually, we must multiply by 2 to get the total number of payment periods.12 years * 2 = 24 payment periods Now that we know the semi-annual coupon payment and the number of payment periods, we can calculate the total coupon payments over the remaining life of the bond. Total coupon payments = $37.50 per payment period * 24 payment periods = $900We must now determine the present value of the bond's future cash flows. This is achieved by discounting each cash flow back to its present value and summing the present values. PV of coupon payments = $900 / (1 + (y/2))^24where y is the yield to maturity of the bond. The present value of the final principal payment of $1,000 will be:$1,000 / (1 + (y/2))^24+1The bond's market price is $1,127.02, and we can now solve for the yield to maturity using trial and error or using a financial calculator or Excel Solver. The yield to maturity on the bond is 6.0%.

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Titan Mining Corporation has 8.5 million shares of common stock outstanding and 250,000 5 percent semiannual bonds outstanding, par value $1,000 each. The common stock currently sells for $34 per share and has a beta of 1.25, and the bonds have 15 years to maturity and sell for 114 percent of par. The market risk premium is 7.5 percent, T-bills are yielding 4 percent, and Titan Mining’s tax rate is 35 percent.
a. What is the firm's market value capital structure? (Do not round intermediate calculations and round your final answers to 4 decimal places. (e.g., 32.1616))
b. If Titan Mining is evaluating a new investment project that has the same risk as the firm's typical project, what rate should the firm use to discount the project's cash flows?

Answers

The firm should use a discount rate of approximately 8.6606% to evaluate the cash flows of the new investment project.

a. To determine the firm's market value capital structure, we need to calculate the market values of the common stock and bonds.

Market value of common stock = Number of shares outstanding * Price per share

Market value of common stock = 8.5 million * $34 = $289 million

Market value of bonds = Number of bonds outstanding * Bond price

Market value of bonds = 250,000 * $1,000 * 1.14 = $285 million (since bonds are selling at 114% of par)

Total market value of the firm's capital structure = Market value of common stock + Market value of bonds

Total market value of the firm's capital structure = $289 million + $285 million = $574 million

b. The rate that the firm should use to discount the cash flows of the new investment project is the firm's weighted average cost of capital (WACC). The WACC represents the average rate of return required by both equity and debt investors.

To calculate the WACC, we need the cost of equity and the cost of debt. Given the information provided, we can calculate them as follows:

Cost of equity = Risk-free rate + Beta * Market risk premium

Cost of equity = 4% + 1.25 * 7.5% = 13.375%

Cost of debt = Yield to maturity * (1 - Tax rate)

Cost of debt = 5% * (1 - 35%) = 3.25%

Weight of equity = Market value of common stock / Total market value of capital structure

Weight of equity = $289 million / $574 million = 0.5035

Weight of debt = Market value of bonds / Total market value of capital structure

Weight of debt = $285 million / $574 million = 0.4965

WACC = Weight of equity * Cost of equity + Weight of debt * Cost of debt

WACC = 0.5035 * 13.375% + 0.4965 * 3.25% ≈ 8.6606%

Therefore, the firm should use a discount rate of approximately 8.6606% to evaluate the cash flows of the new investment project.

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Which of the following can a company do to customer churn?
A.
Attract new customers to try out the company's products.
B.
Increase customer lifetime value by increasing the non-monetary
cost

Answers

A company can reduce customer churn by A. attracting new customers to try out their products. This will help the company increase its customer base and retain its existing customers in the long run.

Customer churn is when customers leave a company or stop using its services. It is a significant problem for most businesses, as it means that they are losing revenue and potential long-term customers.

There are several reasons why customers might choose to churn. Some of the common reasons include dissatisfaction with the company's products or services, poor customer service, or better deals offered by competitors.

A company can take several steps to reduce customer churn. Some of the most effective strategies include:

Improving customer service: Companies can improve their customer service by providing quick and effective solutions to customer problems. This can help to build trust and loyalty among customers, making them less likely to leave.

Improving product quality: Companies can improve their product quality to meet the changing needs and expectations of customers. By offering high-quality products, companies can retain their existing customers and attract new ones.

Improving pricing: Companies can improve their pricing by offering discounts, promotions, and special deals to customers. This can help to build customer loyalty and reduce churn.

Attracting new customers: Companies can reduce customer churn by attracting new customers to try out their products. This will help the company increase its customer base and retain its existing customers in the long run.

Increasing customer lifetime value: Companies can increase customer lifetime value by increasing the non-monetary cost, which will ensure that customers are satisfied with their services.

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The price elasticity of demand for a good is -0.50. By how much must the price of the good decrease in order for sales to rise by 12%?
a.

3%.

b.

4.8%.

c.

12.4%.

d.

24%.


Question 24

Suppose Joe purchases 5 six-packs of beer per month when his monthly income is $100. Joe receives a raise at work, giving him an extra $40 per month in take-home pay, and Joe now purchases 7 six-packs of beer per month. What is Joe's income elasticity of demand for beer?
a.

2.

b.

1.

c.

0.3.

d.

0.05.

Question 37

Suppose we observe that the price of gasoline has been rising, even though the quantity of gasoline sold has been falling. We can conclude that

A.) The law of supply does not hold for gasoline

B.) The law of demand does not hold for gasoline

C.) The demand for gasoline must have fallen

D.) The supply of gasoline must have fallen

Answers

Hence, the price of the good must decrease by 24% in order for sales to rise by 12%.Option (D) is correct.

Question 1:

We have,Price elasticity of demand = (% change in quantity demanded) / (% change in price)Given that price elasticity of demand for a good is -0.50. We can write this as below,-0.50 = (% change in quantity demanded) / (% change in price)Here, % change in quantity demanded is given as 12%. Let's put this value in the above equation,-0.50 = 12% / (% change in price)We need to calculate % change in price that will result in 12% increase in sales.Solving above equation for % change in price, we get% change in price = 12% / -0.50% change in price = -24%Hence, the price of the good must decrease by 24% in order for sales to rise by 12%.Option (D) is correct.

Question 24:

Income elasticity of demand is given by the formula below,Income elasticity of demand = (% change in quantity demanded) / (% change in income)Let's put the given values in this equation. Given that,Joe purchases 5 six-packs of beer per month when his monthly income is $100.Joe receives a raise at work, giving him an extra $40 per month in take-home pay, and Joe now purchases 7 six-packs of beer per month.% change in quantity demanded = [(7-5)/5] * 100% change in quantity demanded = 40%Change in income = ($100+$40-$100) = $40% change in income = (40/100) * (100/100) = 40%Putting these values in the formula for income elasticity of demand, we getIncome elasticity of demand = 40% / 40%Income elasticity of demand = 1Hence, Joe's income elasticity of demand for beer is 1.Option (B) is correct.

Question 37:

If the price of gasoline has been rising, even though the quantity of gasoline sold has been falling, it indicates that the law of demand does not hold for gasoline.Law of demand states that if the price of a good or service increases, then the quantity demanded for that good or service will decrease, all other factors being equal.However, in this case, the price of gasoline has been increasing, but the quantity demanded for gasoline has been decreasing. This contradicts the law of demand.Hence, we can conclude that the law of demand does not hold for gasoline.Option (B) is correct.

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