What types of planning do you do in your personal life? Describe these
plans in terms of being (a) strategic or operational, (b) short term or long
term, and (c) specific or directional.

Answer:

Every day we perform series of activities in which few are very important while other may not be. But to perform every activity, we need to design the things systematically. We prioritize our activities as per their importance and then we take the action to make it fruitful. As per their value and importance we may develop following types of plan in our daily life;

Strategic or operational plan: Strategic or Operational Plan means an arsenal plan which tells how we can achieve the ultimate goal of our given task by creating clear and defined steps. As an operational plan, if we have an important task in our hand then we have to create step by step action which is oriented towards achievement of overall objective. Eg: If Periodical exams are due for...

B. Federal Reserve Chair Jerome Powell has hinted that a long run inflation rate target of 2% is the guide he uses for monetary policy in the long run Appealing to the Quantity Theory of Money, Rep. Doro Green advises Chair Powell to therefore set a money growth rate target of 2% to achieve this long run inflation goal. i.) If the Chair takes the Representative's advice, he_________achieve his long run inflation goal because__________ A. Will not; economic growth is positive in the long run. B. Will not; velocity growth is positive in the long run. C. will real economic growth is positive in the long run. D. Wil; velocity growth is positive in the long run.Why might we have reason to believe that Representative Green received the backing of those in the banking industry in the latest election? Explain with reference to your conclusion above about the results of Chair Powell's taking Representative Green's advice. ii) If Chair Powell takes Representative Green's advice, inflation in the long run will bethan expected, transferring wealth from :________.A. Lower; creditors to debtors B. Higher; debtors to creditors C. Higher; creditors to debtors D. Lower; debtors to creditors

Rustafson Corporation is a diversified manufacturer of consumer goods. The company's activity-based costing system has the following seven activity cost pools: Activity Cost Pool Estimated Overhead Cost Expected Activity Labor-related $ 26,800 5,000 direct labor-hours Machine-related $ 4,500 9,000 machine-hours Machine setups $ 41,800 1,100 setups Production orders $ 17,000 500 orders Product testing $ 15,500 500 tests Packaging $ 51,000 3,400 packages General factory $ 52,400 5,000 direct labor-hours Exercise 4-2 Part 1 Required: 1. Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.)

Roca Company originally issued 30,000 shares of $5 par common stock for $240,000 on January 3, 2020. Roca purchased 1,500 shares of treasury stock for $15,000 on November 2, 2020. On December 6, 2020, 600 shares of the treasury stock are sold for $7,200. Prepare journal entries to record these stock transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2021, the company transferred $800,000 of accounts receivable to Milpitas. The transfer was made without recourse. Milpitas remits 90% of the factored amount and retains 10%. When Milpitas collects the receivables, it remits to Samson the retained amount less a 4% fee (4% of the total factored amount). Samson estimates the fair value of the last 10% of its receivables to be $60,000.
Required:
Prepare the journal entry for Samson Wholesale Beverage for the transfer of accounts receivable on April 30, assuming the sale criteria are met.

According to Investment Digest, the arithmetic mean of the anual return for common stocks over an 85-year period was 9.5%, but the value of the variance was not mentioned. We do know that 20% of the annual returns were below 8%. Assume that this distribution is nomal. 70% of the annual returns will be higher than what value?

Sheridan Company includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Sheridan $3 each. Sheridan estimates that 60 percent of the coupons will be redeemed. Data for 2020 and 2021 are as follows:
2020 2021
Bags of dog food sold 510000 600000
Leashes purchased 19000 24000
Coupons redeemed 130000 150000
The premium liability at December 31, 2015 is:_____.
a. $22,500.
b. $39,375.
c. $45,000.
d. $84,375.

Luker Corporation uses a process costing system. The company had $160,500 of beginning Finished Goods Inventory on October 1. It transferred in $837,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $158,200. The entry to account for the cost of goods manufactured during October is

Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs.
Variable Costs per Unit
Direct materials $7.50
Direct labor $3.45
Variable manufacturing overhead $5.80
Variable selling and administrative expenses $3.90
Fixed Costs per Year
Fixed manufacturing overhead $225,000
Fixed selling and administrative expenses $210,100
A. Assuming the company uses variable costing, calculate Siren’s manufacturing cost per unit for 2017.
B. Prepare a variable costing income statement for 2017.
C. Assuming the company uses absorption costing, calculate Siren’s manufacturing cost per unit for 2017.
D. Prepare an absorption costing income statement for 2017.

n the hybrid method is used to record the withdrawal of a partner, the partnershipMultiple Choicerevalues assets and liabilities and records goodwill to the continuing partner but not to the withdrawing partner.revalues liabilities but not assets, and no goodwill is recorded.can recognize goodwill but does not revalue assets and liabilities.revalues assets but not liabilities, and records goodwill to the continuing partner but not to the withdrawing partner.revalues assets and liabilities but does not record good

The four types of consumer products differ in terms of the (1) effort the consumer spends on the decision, (2) attributes used in making the purchase decision, and (3) frequency of purchase. Convenience items are items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort. Shopping products are items for which the consumer compares several alternatives on criteria such as price, quality, or style. Specialty products are items that the consumer makes a special effort to search out and buy. Unsought products are items that the consumer either does not know about or knows about but does not initially want.Two broad categories of products widely used in marketing relate to the type of user. Consumer products are products purchased by the ultimate consumer, whereas business products (also called B2B products or industrial products) are products organizations buy that assist in providing other products for resale. In this exercise, we will study the four different types of consumer products.Write the product examples to the correct consumer product type Royce Poplar coffin Patek Philippe watch Sony Blu-ray Disc™ player Maytag® dishwasher Doritos Hermès Birkin bag Zest bar soap Goodyear Ultra Grip tires Type of Consumer Product Convenience Product Shopping Product Specialty Product Unsought Product

Towne Snow Removal's cost formula for its vehicle operating cost is $1,470 per month plus $399 per snow-day. For the month of November, the company planned for activity of 13 snow-days, but the actual level of activity was 9 snow-days. The actual vehicle operating cost for the month was $5,230. The vehicle operating cost in the flexible budget for November would be closest to:

You are in charge of purchases at the student-run used-book supply program at your college, and you must decide how many introductory calculus, history, and marketing texts should be purchased from students for resale. Due to budget limitations, you cannot purchase more than 1050 of these textbooks each semester. There are also shelf-space limitations: Calculus texts occupy 2 units of shelf space each, history books 1 unit each, and marketing texts 5 units each, and you can spare at most 1,800 units of shelf space for the texts. If the used book program makes a profit of $10 on each calculus text, $4 on each history text, and $8 on each marketing text, how many of each type of text should you purchase to maximize profit

Loanstar had 150 units in beginning inventory before starting 950 units and completing 900 units. The beginning work in process inventory consisted of $2,000 in materials and $4,000 in conversion costs before $7,900 of materials and $13,280 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 30% complete with regard to conversion costs. Use the above information to complete a production cost report. Enter all amount as positive values.

If a company's free cash flows are expected to grow at a constant rate of 5% a year, which of the following statements is CORRECT? The stock is in equilibrium. a. The company's WACC must be equal to or less than 5%. b. The company's stock's dividend yield is 5%. c. The expected return on the company's stock is 5% a year. d. The value of operations is expected to decline in the future. e. The company's value of operations one year from now is expected to be 5% above the current price.

Creative Images Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances were taken from the ledger of Creative Images Co.:

Violet Lozano, Capital $880,000
Violet Lozano, Drawing 12,000
Fees Earned 702,400
Wages Expense 480,000
Rent Expense 69,000
Supplies Expense 11,000
Miscellaneous Expense 14,600

Required:
Journalize the two entries required to close the accounts.

commercial bank definition in your own words.​

Bond A pays $8,000 in 20 years. Bond B pays $8,000 in 40 years. (To keep things simple, assume these are zero-coupon bonds, which means the $8,000 is the only payment the bondholder receives.)

Required:
a. If the interest rate is 3.5 percent, what is the value of each bond today? Which bond is worth more? Why? (Hint: You can use a calculator, but the rule of 70 should make the calculation easy.)
b. If the interest rate increases to 7 percent, what is the value of each bond? Which bond has a larger percentage change in value?

Quantity of Flower A Total Utility Marginal Utility Quantity of Flower B Total Utility Marginal Utility 1 16 16 1 30 30 2 30 14 2 46 16 3 42 12 3 61 15 4 52 10 4 75 14 5 60 8 5 88 13 6 66 6 6 100 12 7 70 4 7 111 11 Your mother needs help deciding how many of two kinds of flowers to purchase for a bouquet she is making. She wants to purchase two kinds of flowers: Flower A and Flower B. If the price of Flower A is $2 and the price of Flower B is $3, how many of Flower A should your mother purchase for her bouquet to maximize her utility if she can spend at most $17 on flowers

At December 31, 2020, Grand Company reported the following as plant assets.

Land $4,000,000
Buildings $28,500,000
Less: Accumulated depreciation-buildings 12,100,000 16,400,000
Equipment 48,000,000
Less: Accumulated depreciation-equipment 5,000,000 43,000,000
Total plant assets $63,400,000

During 2023, the following selected cash transactions occurred.

Apr. 1 Purchased land for $3,841,200.
May 1 Sold equipment that cost $1,047,600 when purchased on January 1, 2016. The equipment was sold for $296,820.
June 1 Sold land for $2,793,600. The land cost $1,746,000.
July 1 Purchased equipment for $1,920,600.
Dec. 31 Retired equipment that cost $1,222,200 when purchased on December 31, 2013. No salvage value was received.

The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year life and no salvage value. The equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement.

Required:
Record journal entries in the order presented in the problem. (If no entry is required, enter "No Entry" for the account titles and enter 0 for the amounts.)

Warrants exercisable at $20 each to obtain 94000 shares of common stock were outstanding during a period when the average market price of the common stock was $25. Application of the treasury stock method for the assumed exercise of these warrants in computing diluted earnings per share will increase the weighted average number of outstanding shares by:__________

a. 18800.
b. 75200.
c. 94000.
d. 23500.

Select the statement that best describes the recommended approach for developing team goals. The highest performing team member develops goals for the team, which the team leader then approves. Individual team members should contribute to and have input over the common team goals. The team leader should determine all goals independently for efficiency, and then share the goals with the team for approval. Long term team goals should be developed by members of the highest level of organizational leadership, while short term goals are usually developed by lower level leaders.

If most cartel members keep their agreement to cut back production: a. it's not profitable in the short run for another member to increase production. b. it's profitable in the short run for another member to increase production. c. cheating by another member won't be detected. d. the losses associated with cheating are internalized by the cheater.

5 Make versus buy, activity-based costing. The Svenson Corporation manufactures cellular modems. It manufactures its own cellular modem circuit boards (CMCB), an important part of the cellular modem. It reports the following cost information about the costs of making CMCBs in 2017 and the expected costs in 2018: Current Costs in 2017 Expected Costs in 2018 Variable manufacturing costs Direct material cost per CMCB $ 180 $ 170 Direct manufacturing labor cost per CMCB 50 45 Variable manufacturing cost per batch for setups, materials handling, and quality control 1,600 1,500 Fixed manufacturing cost Fixed manufacturing overhead costs that can be avoided if CMCBs are not made 320,000 320,000 Fixed manufacturing overhead costs of plant depreciation, insurance, and administration that cannot be avoided even if CMCBs are not made 800,000 800,000 Svenson manufactured 8,000 CMCBs in 2017 in 40 batches of 200 each. In 2018, Svenson anticipates needing 10,000 CMCBs. The CMCBs would be produced in 80 batches of 125 each. The Minton Corporation has approached Svenson about supplying CMCBs to Svenson in 2018 at $300 per CMCB on whatever delivery schedule Svenson wants. 1. Calculate the total expected manufacturing cost per unit of making CMCBs in 2018. 2. Suppose the capacity currently used to make CMCBs will become idle if Svenson purchases CMCBs from Minton. On the basis of financial considerations alone, should Svenson make CMCBs or buy them from Minton

The rationale behind PPP is that: ________

1. Inflation and interest rate have positive relation.
2. Interest rate increases make local currency stronger in the future
3. Interest rate increases make local currency weaker in the future
4. Interest rate increases make local currency weaker in forward market
5. Interest rate increases make local currency stronger in forward market
6. Higher inflation makes local currency weaker in the future
7. Higher inflation makes local currency stronger in the future
8. Higher inflation makes local currency weaker in forward market
9. Inflation makes local currency stronger in forward market

The following information pertains to Cullumber Company.

1. Cash balance per bank, July 31, $11,310.
2. July bank service charge not recorded by the depositor $65.
3. Cash balance per books, July 31, $11,440.
4. Deposits in transit, July 31, $4,615.
5. $2,600 collected for Cullumber Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Cullumber Company.
6. Outstanding checks, July 31, $1,950.

Required:
Journalize the adjusting entries at July 31 on the books of Cullumber Company.

Changes from the Cash Flow Statement (Indirect Method) A recent statement of cash flows for Colgate-Palmolive reporting the following information (dollars in millions): Operating Activities Net income $1,957.20 Depreciation 347.6 Cash effect of changes in Receivables 69.8 Inventories 134.7 Other current assets 31 Payables 125.2 Other 43.8 Net cash provided by operations $2,238.30 Based on the information reported on the statement of cash flows for Colgate-Palmolive, determine whether the following accounts increased or decreased during the period: Receivables, Inventories, Other Current Assets and Payables.

The manager of the main laboratory facility at Center is interested in being able to predict the overhead costs each month for the lab. The manager believes that total overhead varies with the number of lab tests performed but that some costs remain the same each month regardless of the number of lab tests performed. The lab manager collected the following data for the first seven months of the year. Number of Lab Total Laboratory Tests Performed Overhead CostsMonth January 2,700 $22,900February 2,500 $23,500March 3,500 $29,800 April 4,000 $32,500May 4,600 $31,100 June 2,250 $22,000 July 2,000 $19,100 1. Use the high-low method to determine the laboratory's cost equation for total laboratory overhead. Use your results to predict total laboratory overhead if 3,200 lab tests are performed next month.2. Use the high-low method to determine UrbanFit's operating cost equation.

XYZ Corporation uses the FIFO method in its process costing system. The Assembly Department started the month with 1,000 units in its beginning work in process inventory that were 80% complete with respect to conversion costs. An additional 65,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 10,000 units in the ending work in process inventory of the Assembly Department that were 60% complete with respect to conversion costs.

Required:
What were the equivalent units for conversion costs in the Assembly Department for the month?

Manson Industries incurs unit costs of $7 ($5 variable and $2 fixed) in making an assembly part for its finished product. A supplier offers to make 14,700 of the assembly part at $6 per unit. If the offer is accepted, Manson will save all variable costs but no fixed costs. Prepare an analysis showing the total cost saving, if any, Manson will realize by buying t

Hemingway Corporation has 100,000 shares of common stock issued and outstanding. At the meeting of the board of directors on December 1, the board voted to declare a cash dividend of $5 per share to be paid on December 31, to shareholders of record as of December 16.

Required:
Write the necessary journal entry on the date of declaration by selecting the account names.