a. To calculate earnings per share on common stock, we need to first subtract preferred dividends from net income and then divide by the number of shares of common stock outstanding:
Net income - Preferred dividends = $229,000 - $13,000 = $216,000
Earnings per share = $216,000 ÷ 20,000 = $10.80
Therefore, the earnings per share on common stock is $10.80.
b. To calculate the company's price-earnings ratio, we divide the market price per share of common stock by the earnings per share on common stock:
Price-earnings ratio = Market price per share ÷ Earnings per share
Price-earnings ratio = $59.40 ÷ $10.80 = 5.5 (rounded to one decimal place)
Therefore, the company's price-earnings ratio is 5.5.
a. The company's earnings per share on common stock can be calculated as follows:
Net income - Preferred dividends = Earnings available to common shareholders
$229,000 - $13,000 = $216,000
Earnings available to common shareholders / Shares of common stock outstanding = Earnings per share on common stock
$216,000 / 20,000 = $10.80
Therefore, the company's earnings per share on common stock is $10.80.
b. The company's price-earnings ratio can be calculated by dividing the market price per share of common stock by the earnings per share on common stock:
Market price per share of common stock / Earnings per share on common stock = Price-earnings ratio
$59.40 / $10.80 = 5.5
Therefore, the company's price-earnings ratio is 5.5.
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a salaried employee of the state of oregon dealing in real estate owned by a city, county, or state.
A salaried employee of the state of Oregon who deals in real estate owned by a city, county, or state is typically a real estate agent or broker who works for a government agency.
These professionals are responsible for managing the buying and selling of properties owned by the government.
They may work on behalf of a specific agency, such as the state's Department of Transportation or the county's Parks and Recreation department.
They must follow specific rules and regulations when dealing with government-owned real estate, which can vary depending on the agency and the type of property involved.
Their primary goal is to ensure that these properties are effectively managed and sold to the appropriate buyers in a timely and efficient manner.
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1.Direct Materials Variances
Venneman Company produces a product that requires 3.5 standard pounds per unit. The standard price is $5.10 per pound. If 14,000 units required 48,000 pounds, which were purchased at $5.40 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
a. Direct materials price variance $ Unfavorable
b. Direct materials quantity variance $ Favorable
c. Total direct materials cost variance $ Unfavorable
Direct material variation is the difference between actual costs incurred and the standard cost of materials from manufacturing operations.
A. $14,400 Unfavorable
B. $5,100 Favorable
C. $9,300 Unfavorable
The difference between the standard cost of materials generated from manufacturing operations and the expenses incurred is the direct material variation.
A. Direct Materials price variance
= (Actual quantity ×Actual price) - (Actual quantity × Standard price)
= (48,000 × $5.4) - (48,000 × $5.1)
= $14,400 Unfavorable
B. Direct Materials quantity variance
= (Actual quantity × Standard price) - (Standard Quantity × Standard price)
= (48,000 × $5.1) - (14,000 × 3.5 × $5.1)
= $5,100 Favorable
C. Total direct materials cost variance
= (Actual quantity × Actual price) - (Standard Quantity × Standard price)
= (48,000 × $5.4) - (14,000 × 3.5 × $5.1)
= $9,300 Unfavorable
Therefore,
A. Direct Materials price variance= $14,400 Unfavorable
B. Direct Materials quantity variance = $5,100 Favorable
C. Total direct materials cost variance = $9,300 Unfavorable
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The direct materials variances for the Venneman Company are: $14,400 Unfavorable for price variance, $1,800 Favorable for quantity variance, and $12,600 Unfavorable for total direct materials cost variance.
Explanation:To solve this problem we'll need to use the formulas for price variance, quantity variance, and total cost variance.
Price Variance is calculated by the formula: (Actual Quantity * Actual Price) - (Actual Quantity * Standard Price). So, we put the numbers in and do the math: 48,000 lbs. * $5.40 - 48,000 lbs. * $5.10 = $14,400 Unfavorable. The price is unfavorable because the actual amount spent on materials exceeded the budgeted amount.
Quantity Variance is calculated by the formula: (Actual Quantity - Standard Quantity) * Standard Price. The standard quantity would be the number of units produced times the standard amount of material anticipated per unit. So, we need to calculate: (48,000 lbs - 14,000 units * 3.5 lbs/unit) * $5.10 = $1,800 Favorable. The variance is favorable because the actual amount of material used was less than the budgeted amount.
Lastly, the Total Materials Cost Variance is simply the sum of the price variance and the quantity variance, so $14,400 (unfavorable) + (-$1,800 (favorable)) = $12,600 Unfavorable.
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June 1 The owner invested $150,000 cash into the business to start a new restaurant. The owner also invested in addition to the $150,000 cash some furniture worth $25,000, a cash register worth $5,000 and kitchen equipment worth $40,000.
June 2 The owner purchased some more kitchen equipment for $90,000. The owner paid a $26,000 cash deposit and paid for the remainder by going to the bank and getting a loan for the rest of the amount needed to buy the equipment.
June 4 The business paid $1,200 cash for rent for the month of June for the restaurant. The business will pay rent every month until he can find a building to purchase or rent long term.
June 8 Purchased food for $9,200 for cash. (Assume the food will all be sold by the end of June) and drinks for $6,500 on credit. (Assume all of the drinks will also be sold by the end of June).
June 9 The owner purchases kitchen supplies on credit for $900. The supplies will be enough to use for 6 months.
June 12 The business paid $300 cash for general expenses for the business.
June 15 Sales of food and drink for the first half of the month were $10,600 on credit and $11,200 for cash.
June 16 The business paid $8,900 cash for wages for the second half of the month.
June 18 The business paid $860 cash for electricity for the month of June.
June 19 The owner withdrew $450 cash from the business for personal use.
June 21 The business paid the amount owing for the supplies purchased on the 9th of June.
June 22 The business purchased more food on credit for $4,000 (assume the business will sell of the food by the end of June).
June 23 The business repaid $1,200 cash for the loan on the equipment purchased on the 2nd of June.
June 24 Received $1,000 cash from customers who owe money for sales of food on the 15th of June.
June 26 Paid the full amount owing for food purchased on the 8th of June.
The business is paying for the drinks purchased on credit on the 8th of June, not the food (which was purchased for cash)
June 27 The business paid the telephone expense for June for $280 cash.
June 28 Sales of food and drink for the second half of the month were $12,600 for cash and $9,400 on credit.
June 30 The business paid $8,900 cash for wages for the second half of the month.
June 30 Received $1,200 cash from customers who owe money for sales of food made on credit on the 28th of June.
June 30 The business repaid $1,600 cash for the food purchased on credit on the 22nd of June.
Required:
(a) Record the journal entries for the events above on pages 4 to 6 of this document (General Journal).
(20 Marks)
(b) Complete the ledger accounts which are on pages 5 to 7 of this document (ledger accounts).
(8 Marks)
(c) Complete the trial balance on page 8 of this document.
(3 Marks)
(d) Prepare an Income Statement and Balance Sheet for the period ending 30th June on pages 9 and 10 of the document.
The task involves recording journal entries, completing ledger accounts, preparing a trial balance, income statement, and balance sheet for a restaurant business for the month of June.
Various transactions such as investments, purchases, payments, and sales need to be recorded and processed.
(a) Journal entries:
June 1:
Cash 150,000
Furniture 25,000
Cash register 5,000
Kitchen equipment 40,000
Capital 220,000
June 2:
Kitchen equipment 90,000
Cash 26,000
Loan payable 64,000
June 4:
Rent expense 1,200
Cash 1,200
June 8:
Food expense 9,200
Cash 9,200
Drinks expense 6,500
Accounts payable 6,500
June 9:
Kitchen supplies expense 900
Accounts payable 900
June 12:
General expenses expense 300
Cash 300
June 15:
Accounts receivable 10,600
Cash 11,200
Sales revenue 21,800
June 16:
Wages expense 8,900
Cash 8,900
June 18:
Electricity expense 860
Cash 860
June 19:
Drawing 450
Cash 450
June 21:
Accounts payable 900
Cash 900
June 22:
Food expense 4,000
Accounts payable 4,000
June 23:
Loan payable 1,200
Cash 1,200
June 24:
Cash receivable 1,000
Cash 1,000
June 26:
Accounts payable 6,500
Cash 6,500
June 27:
Telephone expense 280
Cash 280
June 28:
Cash 12,600
Accounts receivable 9,400
Sales revenue 22,000
June 30:
Wages expense 8,900
Cash 8,900
Cash receivable 1,200
Cash 1,200
Accounts payable 4,000
Cash 4,000
(b) Ledger accounts:
Cash:
Date Description Debit Credit Balance
Jun 1 Owner's investment 150,000 150,000
Jun 1 Furniture and equipment 70,000 220,000
Jun 4 Rent expense 1,200 218,800
Jun 8 Food expense 9,200 209,600
Jun 15 Sales revenue 11,200 220,800
Jun 16 Wages expense 8,900 211,900
Jun 18 Electricity expense 860 211,040
Jun 19 Drawing 450 210,590
Jun 21 Payment for kitchen supplies 900 211,490
Jun 22 Food expense 4,000 207,490
Jun 23 Loan repayment 1,200 206,290
Jun 24 Cash received for sales 1,000
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The overall concern of manufacturing support is not how production occurs but rather what, when, and where __________will be manufacturedbarriersproductsprocurement
Answer:
las cañaverales son extenso y hay numerosos
The overall concern of manufacturing support is not how production occurs, but rather what, when, and where products will be manufactured.
This involves determining the types of products (what) to be produced based on market demand, customer preferences, and company capabilities.
The timeline (when) for manufacturing must be strategically planned to meet customer delivery expectations and to optimize production capacity. Lastly, the location (where) of manufacturing is crucial for logistics, access to raw materials, labor, and proximity to customers.
Manufacturing support focuses on these aspects by incorporating supply chain management, inventory control, production scheduling, and facility location planning.
These factors work together to ensure that the right products are produced at the right time and in the right place, ultimately leading to customer satisfaction, efficient resource utilization, and overall business success.
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Complete question:
The overall concern of manufacturing support is not how production occurs but rather what, when, and where __________will be manufactured
which of the following ad types are located within shopping results and promote individual products?a. Sponsored Productsb. Display adsc. Sponsored Brandsd. Sponsorships
The ad type that is located within shopping results and promotes individual products is the Sponsored Products. These ads are displayed within the search results on Amazon and promote a specific product with an image, title, and price.
Sponsored Products are shown based on relevant search terms, and advertisers can target specific keywords to increase visibility. Unlike Display ads and Sponsored Brands, Sponsored Products are not displayed on the Amazon homepage or on specific product detail pages.
Sponsorships, on the other hand, are a custom advertising solution for brands looking to drive brand awareness and increase visibility. Overall, Sponsored Products are an effective way for individual product listings to stand out and drive sales on Amazon.
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after you write the rules using the connection tracking mechanism, think about how to do it without using the connection tracking mechanism (you do not need to actually implement them). based on these two sets of rules, compare these two different approaches, and explain the advantage and disadvantage of each approach
When using the connection tracking mechanism, rules are written based on the state of connections. This approach has several advantages and disadvantages:
Advantages:
1. Efficient packet filtering: Connection tracking allows the firewall to quickly identify and manage packets belonging to established connections, improving overall efficiency.
2. Enhanced security: By tracking connection states, firewalls can detect abnormal behavior and block suspicious traffic more effectively.
3. Simplified rule management: Connection tracking reduces the number of required rules, as rules are applied based on connection states rather than individual IP addresses or ports.
Disadvantages:
1. Increased resource usage: Connection tracking requires more system resources, such as memory and processing power, to maintain the state table.
2. Limited scalability: Connection tracking may not be suitable for high-traffic environments, as the state table can become overloaded.
When not using the connection tracking mechanism, rules are written based on static criteria, such as IP addresses, ports, and protocols. This approach also has its advantages and disadvantages:
Advantages:
1. Lower resource usage: Without connection tracking, the firewall consumes fewer system resources, which may be beneficial in resource-limited environments.
2. Greater scalability: Firewalls without connection tracking can handle higher traffic volumes without overloading.
Disadvantages:
1. Less efficient packet filtering: Rules must be written for each possible traffic type, resulting in more complex and less efficient packet filtering.
2. Reduced security: Without connection tracking, it is harder to detect abnormal behavior and block suspicious traffic effectively.
3. More complex rule management: Rule sets become more extensive and harder to manage without connection tracking, as rules must account for all potential traffic patterns.
In conclusion, connection tracking offers improved efficiency and security but requires more resources, while the alternative approach is more resource-friendly but less efficient and secure.
The choice between these two approaches depends on your specific network environment and requirements.
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dr j assigns you and a student you do not know a joint project. assume that you and your partner are both interested in maximizing your grade, but you are both very busy and get more happiness if you can get a good grade with less work. since you do not know the student, making a credible commitment to how much you are going to work is impossible.
A dominant strategy is: one that provides the highest payoff for a player regardless of the other player's choice.
(a) A dominant strategy is one that provides the highest payoff for a player regardless of the other player's choice. To determine your dominant strategy and your partner's, you would need to analyze the payoffs in the figure (which was not provided).
However, typically in such situations, the dominant strategy for both players would be to minimize their own work while maximizing their grade.
(b) The Nash equilibrium is a situation where no player has an incentive to change their strategy, given the other player's strategy. To find the Nash equilibrium, identify the strategy pairs where neither player can benefit from changing their choice, given the other player's choice.
This would be the equilibrium where both players are optimizing their payoffs, considering the other player's decision.
(c) If you and your partner are required to work together on multiple projects throughout the semester, this might change the outcome predicted in parts (a) and (b) as cooperation and trust between you two can improve.
In this case, you might both opt for strategies that ensure a fair distribution of work and better overall grades, as opposed to solely focusing on minimizing individual effort. This change could lead to higher payoffs for both players in the long run and potentially foster a better working relationship.
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Complete question:
You have to do a two-student project in a class. Assume that you and your partner are both interested in maximizing your grade, but you are both very busy and get more happi- ness if you can get a good grade with less work. The strategy choices for you and your partner and the resulting payoffs are described in the figure below.
(a) What is your dominant strategy? What is your partner’s dominant strategy? Explain.
(b) What is the Nash equilibrium in this situation? Explain.
(c) If you and your partner are required to work together on a number of projects throughout the semester, how might this change the outcome you predicted in parts (a) and (b)?
What is the expected rate of inflation assume the real interest rate is 7% and the nominal interest rate is 3%?
Based on this calculation, the expected rate of inflation is -4%. However, it is important to note that a negative expected rate of inflation is not realistic, as it implies deflation. It is possible that there was an error in the data used or in the calculation itself.
The expected rate of inflation can be calculated using the Fisher equation, which states that the nominal interest rate is equal to the sum of the real interest rate and the expected inflation rate.
Therefore, if the real interest rate is 7% and the nominal interest rate is 3%, we can use the Fisher equation to calculate the expected rate of inflation as follows:
Nominal interest rate = Real interest rate + Expected inflation rate
3% = 7% + Expected inflation rate
Expected inflation rate = 3% - 7%
Expected inflation rate = -4%
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Your trademark consists of what you say about the product on your packaging, not only identifying the product but providing information about the contents of the package.
False
True
False. A trademark is a symbol, word, or group of words used to identify and distinguish a company's products or services from those of others.
It is not based on the information provided on the packaging or the contents of the package, but rather on the unique identifier used to represent the company's brand. The purpose of a trademark is to prevent other companies from using a similar or confusingly similar mark that could lead to consumer confusion or dilute the brand's reputation.In order to be granted a trademark, the mark must meet certain criteria, such as being distinctive and not too similar to existing trademarks.
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A 9-year project is expected to generate annual sales of 8,300 units at a price of $70 per unit and a variable cost of $41 per unit. The equipment necessary for the project will cost $269,000 and will be depreciated on a straight-line basis over the life of the project. Fixed costs are $160,000 per year and the tax rate is 34 percent. How sensitive is the operating cash flow to a $1 change in the per unit sales price? O $4,930 O $3,010 $3,970 $5,478 O $3,490
The annual operating cash flow at the higher sales price is: $59,111 - $20,080 = $39,031
To calculate the sensitivity of the operating cash flow to a $1 change in the per unit sales price, we need to calculate the operating cash flow at the current sales price and at a sales price that is $1 lower and $1 higher.
At the current sales price of $70 per unit, the contribution margin per unit is $70 - $41 = $29. The annual contribution margin is therefore:
8,300 units x $29 = $240,700
The annual depreciation expense for the equipment is:
$269,000 ÷ 9 years = $29,889 per year
The annual earnings before interest and taxes (EBIT) are:
$240,700 - $160,000 - $29,889 = $50,811
The annual taxes are:
$50,811 x 0.34 = $17,282
Therefore, the annual operating cash flow at the current sales price is:
$50,811 - $17,282 = $33,529
If the sales price decreases by $1 to $69 per unit, the new contribution margin per unit is $69 - $41 = $28. The annual contribution margin is:
8,300 units x $28 = $232,400
The annual EBIT is:
$232,400 - $160,000 - $29,889 = $42,511
The annual taxes are:
$42,511 x 0.34 = $14,448
Therefore, the annual operating cash flow at the lower sales price is:
$42,511 - $14,448 = $28,063
If the sales price increases by $1 to $71 per unit, the new contribution margin per unit is $71 - $41 = $30. The annual contribution margin is:
8,300 units x $30 = $249,000
The annual EBIT is:
$249,000 - $160,000 - $29,889 = $59,111
The annual taxes are:
$59,111 x 0.34 = $20,080
Therefore, the annual operating cash flow at the higher sales price is:
$59,111 - $20,080 = $39,031
The sensitivity of the operating cash flow to a $1 change in the per unit sales price is the difference between the annual operating cash flow at the lower sales price and the current sales price, divided by $1. Therefore:
($28,063 - $33,529) ÷ $1 = -$5,466
The sensitivity of the operating cash flow to a $1 increase in the per unit sales price is the difference between the annual operating cash flow at the higher sales price and the current sales price, divided by $1. Therefore:
($39,031 - $33,529) ÷ $1 = $5,502
Rounding to the nearest dollar, the sensitivity of the operating cash flow to a $1 change in the per unit sales price is $5,502 - $5,466 = $36. Therefore, the answer is $36.
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A credit sale of $3400 is made on April 25, terms 1/10, n/30, on which a return of $300 is granted on April 28. What amount is received as payment in full on May 4?
O $3069 O $3366 O $3100 O $3400
Amount received as payment in full is $3,069.
To calculate the amount received as payment in full for a credit sale of $3,400 made on April 25 with terms 1/10, n/30, and a return of $300 granted on April 28, follow these steps:
1. Subtract the return amount from the credit sale amount: $3,400 - $300 = $3,100
2. Since the payment is made on May 4, which is within the 1/10 discount period (10 days from April 25), apply the 1% discount: $3,100 * 0.01 = $31
3. Subtract the discount from the adjusted credit sale amount: $3,100 - $31 = $3,069
So, the amount received as payment in full on May 4 is $3,069.
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on january 1, year 1, utta corp. (a calendar-year company) grants 10,000 stock options with a 3-year vesting period to employees. on the grant date, the market price of the $1 par value stock is equal to the exercise price of $20 per share. on the date of grant, the estimated value of the options is $6 per option. during year 4, when the market value of the stock is $30 per share, 9,000 stock options were exercised. utta corp. should recognize this event by debiting (select all that apply.)
On January 1, Year 1, Utta Corp. (a calendar-year company) grants 10,000 stock options with a 3-year vesting period to employees. On the grant date, the market price of the $1 par value stock is equal to the exercise price of $20 per share. On the date of grant, the estimated value of the options is $6 per option.
During Year 4, when the market value of the stock is $30 per share, 9,000 stock options were exercised. Utta Corp. should recognize this event by debiting (select all that apply):
1. Paid-in Capital - Stock Options: To remove the value of the exercised stock options from the Paid-in Capital account, debit the account by 9,000 options * $6 per option = $54,000.
2. Common Stock: To record the issuance of the common stock, debit the Common Stock account by 9,000 shares * $1 par value = $9,000.
3. Paid-in Capital in Excess of Par Value: To record the difference between the exercise price and the par value of the common stock, debit the account by 9,000 shares * ($20 exercise price - $1 par value) = $171,000.
So, the debits that should be recognized by Utta Corp. in this event are:
1. Paid-in Capital - Stock Options: $54,000
2. Common Stock: $9,000
3. Paid-in Capital in Excess of Par Value: $171,000
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You are entering a supplier invoice for a purchase order that has been delivered. What information can you use as a reference to post the invoice?
a. delivery not number
b. bill of lading number
c. PR number
d. PO number
e. Sales order number
The reference information that can be used to post the supplier invoice for a delivered purchase order includes the PO (purchase order) number, as it is the unique identifier of the purchase order that has been delivered.
When entering a supplier invoice for a purchase order that has been delivered, you can use the following information as a reference to post the invoice: d. PO number (Purchase Order number)
This is the most relevant reference in this context, as it directly relates to the purchase order and ensures the correct alignment of the invoice with the respective order.
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Question 3 \ Assume you will start your business on the 1st of April 2022. Undertake market research and prepare a list of possible business transactions relevant to your business that will happen during April. Your transactions should be referenced properly to demonstrate where appropriate market research. You should provide at least 15 transactions related to the activities of your business.
Question 4 Use the information from question 3 and record the transactions in the general journal and post to the ledger accounts; include dates and narrations. Prepare the unadjusted Trial balance.
Question 5 Assuming it is the end of April, identify and post at least 5 adjusting entries. The adjustments must demonstrate your understanding and therefore should be from each type of adjustment that has been covered in your lectures. The amounts and items recorded should be from the information you provided in questions 3 and 4. Record the adjusting entries in the General Journal and post them to the ledger accounts, include dates and narrations. Prepare the adjusted Trial Balance.
Market research is conducted to identify possible business transactions for the month of April 2022. At least 15 transactions are identified and properly referenced to demonstrate market research.
In question 4, these transactions are recorded in the general journal and posted to the ledger accounts with dates and narrations, followed by the preparation of the unadjusted trial balance. Finally, in question 5, 5 adjusting entries are posted to the general journal and ledger accounts to demonstrate understanding of the different types of adjustments covered in lectures.
These adjustments are based on the transactions identified in questions 3 and 4, and include dates and narrations. The adjusted trial balance is then prepared to reflect the effect of these adjustments on the accounts.
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Higher portfolio turnover: I. Results in greater tax liability for investors II. Results in greater trading costs for the fund, which investors have to pay for III. Is a characteristic of asset allocation funds A. II only B. I, II, and III C. I only D. I and II only
Higher portfolio turnover results in greater tax liability for investors as well as greater trading costs for the fund, which investors have to pay for. The correct answer to the question is B.
Additionally, it is a characteristic of asset allocation funds. Portfolio turnover refers to how frequently a fund buys and sells securities within its portfolio. Higher portfolio turnover can result in greater trading costs, as the fund incurs fees for each trade it makes. These costs are ultimately passed on to investors in the form of higher expenses ratios.
Furthermore, higher portfolio turnover can lead to greater tax liability for investors, as it can trigger more capital gains distributions. This can be especially problematic for taxable accounts, as investors will have to pay taxes on these gains even if they don't sell any shares of the fund.
Lastly, higher portfolio turnover is a characteristic of asset allocation funds, which tend to shift their holdings more frequently as they adjust their exposure to various asset classes. Therefore, it's important for investors to consider the potential impact of portfolio turnover when evaluating mutual funds and ETFs. The correct answer to the question is B.
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Cash flow patterns and the modified internal rate of return calculation Trent Manufacturing Inc. is analyzing a project with the following projected cash flows: Year 0 1 Cash Flow -$1,324,800 300,000 450,000 546,000 360,000 2 3 4 This project exhibits cash flows. Trent's desired rate of return is 8.00%. Given the cash flows expected from the company's new project, compute the project's anticipated modified internal rate of return (MIRR). (Hint: Round all dollar amounts to the nearest whole dollar, and your final MIRR value to two decimal places.) A. 6.99% B. 7.87% C. 8.74% D. 10.49%
The project's anticipated modified internal rate of return (MIRR) is 8.74% (Option C). Therefore, correct option is C).
To calculate the project's anticipated modified internal rate of return (MIRR):To calculate the project's anticipated modified internal rate of return (MIRR) for Trent Manufacturing Inc. with the given cash flow patterns, follow these steps:
1. Identify the cash flows:
Year 0: -$1,324,800
Year 1: $300,000
Year 2: $450,000
Year 3: $546,000
Year 4: $360,000
2. Trent's desired rate of return is 8.00%.
3. Calculate the Future Value (FV) of positive cash flows at the desired rate of return (8%):
FV = (300,000 * (1.08)^3) + (450,000 * (1.08)^2) + (546,000 * (1.08)^1) + 360,000
FV = $1,896,998 (rounded to the nearest whole dollar)
4. Calculate the Present Value (PV) of the initial investment at the desired rate of return (8%):
PV = -1,324,800 / (1.08)^4
PV = -$972,120 (rounded to the nearest whole dollar)
5. Calculate the MIRR using the following formula:
MIRR = ((FV / -PV)^(1/n)) - 1
where n is the number of years.
MIRR = (($1,896,998 / $972,120)^(1/4)) - 1
MIRR = 0.0874 or 8.74%
The project's anticipated modified internal rate of return (MIRR) is 8.74% (Option C).
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QUESTION 2
Record Crane Company’s journal entries for the following events. Use the following account abbreviations: AR = accounts receivable; CASH = cash; REV = Sales revenue; ALL = allowance for doubtful accounts; RET = returns; DISC = sales discount.
Note: in part c, two accounts are debited. Enter these in alphabetical order, for example, ALL before CASH.
On July 1, Crane Company sold merchandise on account to Stacey Inc. for $25,200, terms 4/10, n/30.
Debit:
Credit:
On July 8, Stacey Inc. returned merchandise to Crane Company for a credit refund of $2,500.
Debit:
Credit:
On July 11, Stacey Inc. paid for the merchandise.
Debit:
Debit:
Credit:
a) Debit: AR $25,200 b) Debit: REV $2,500 c) Debit: ALL $900, CASH $23,310
Credit: REV $25,200 Credit: AR $2,500 Credit: AR $24,210
1. On July 1, Crane Company sold merchandise on account to Stacey Inc. for $25,200, terms 4/10, n/30.
Debit: AR = $25,200
Credit: REV = $25,200
2. On July 8, Stacey Inc. returned merchandise to Crane Company for a credit refund of $2,500.
Debit: RET = $2,500
Credit: AR = $2,500
3. On July 11, Stacey Inc. paid for the merchandise.
Debit: CASH = $21,772 (Amount after applying discount: $25,200 - $2,500 = $22,700; Discount: $22,700 * 4% = $908; Final amount: $22,700 - $908 = $21,772)
Debit: DISC = $908
Credit: AR = $22,700
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A supplier delivers material to your warehouse; however, you are only obliged to pay the supplier once you have withdrawn the stock.
Which procurement process would you implement for this purpose?
a. standard
b. stock transfer
c. consignment
d. third party
In this scenario, the procurement process that would be most appropriate is the consignment process. Consignment is a procurement process where a supplier delivers goods to a buyer's warehouse or facility, but the supplier retains ownership of the goods until they are withdrawn by the buyer.
This means that the buyer is not obligated to pay for the goods until they have actually used or sold them. Consignment is a beneficial procurement process because it helps to minimize risk for the buyer. In this scenario, the buyer does not have to pay for the materials until they are actually withdrawn from the warehouse and put to use. This allows the buyer to avoid tying up their cash flow in inventory that may not be immediately necessary. Additionally, if the materials are not used or sold, the buyer is not obligated to pay for them at all.
In summary, the consignment procurement process is the most appropriate approach for this scenario because it allows the buyer to minimize risk and avoid tying up their cash flow in inventory that may not be immediately necessary.
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the cost of energy consumed in producing good units in the steaming department of apple processing company was $9,100 and $8,030 for june and july, respectively. the number of equivalent units produced in june and july was 65,000 and 73,000 liters, respectively. what is the cost of energy for the two months (rounded to the nearest cent)?
The cost of energy for the two months (rounded to the nearest cent) is $17,130.
To calculate the cost of energy for the two months, we need to find the average cost per liter of energy consumed and then multiply it by the total number of equivalent units produced in June and July.
Average cost per liter of energy consumed:
June: $9,100 / 65,000 liters = $0.14 per literJuly: $8,030 / 73,000 liters = $0.11 per literTotal cost of energy for June: $0.14 per liter * 65,000 liters = $9,100Total cost of energy for July: $0.11 per liter * 73,000 liters = $8,030The cost of energy for the two months (rounded to the nearest cent) is $9,100 + $8,030 = $17,130.
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If the Fed uses a stimulative monetary policy, it may be very concerned about causing inflation if the dollar's value is expected to:
a. remain stable
b. strengthen
c. weaken
d. none of the above will have an impact on inflation.
If the Fed uses a stimulative monetary policy, it means they are attempting to increase economic growth by increasing the money supply and lowering interest rates.
However, this can lead to inflation if the economy becomes overheated, and there is too much money chasing too few goods and services.
This is why the Fed may be very concerned about causing inflation, and they will closely monitor the dollar's value.
If the dollar's value is expected to remain stable, it may be less likely to cause inflation since the prices of goods and services will remain constant.
However, if the dollar is expected to strengthen, it can lead to a decrease in the prices of imported goods and services, which can lead to deflationary pressures.
On the other hand, if the dollar is expected to weaken, it can lead to an increase in the prices of imported goods and services, which can contribute to inflation.
Therefore, if the Fed uses a stimulative monetary policy, they will be more concerned about causing inflation if the dollar is expected to strengthen or weaken.
They will need to carefully balance their policy to ensure that economic growth is stimulated without causing undue inflationary pressures.
Ultimately, the goal is to achieve a stable and sustainable economy with low inflation and steady economic growth.
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The amount of expenditures eligible for the child and dependent care credit is the least of three amounts. Which of the following is not one of those amounts?
A. The total amount of child and dependent care expenditures for the year
B. $3,000 for one qualifying person or $6,000 for two or more qualifying persons
C. The dependent's earned income for the year
D. The taxpayer's earned income for the year
The child and dependent care credit, specifically which of the following is not one of the three amounts considered when determining the amount of eligible expenditures. The taxpayer's earned income for the year. The answer is D.
To determine the amount of eligible expenditures for the child and dependent care credit, you need to consider the following three amounts: 1. The total amount of qualified expenses incurred during the year, subject to a maximum of $3,000 for one qualifying individual and $6,000 for two or more qualifying individuals.
2. The taxpayer's adjusted gross income (AGI) multiplied by a percentage, which ranges from 20% to 35% depending on the taxpayer's income level 3. The spouse's earned income if married and filing jointly, or the taxpayer's earned income if single, head of household, or qualifying widow(er).
The taxpayer's earned income for the year is not one of the three amounts considered. Instead, it is part of the third amount mentioned above, which considers the taxpayer's or spouse's earned income to calculate the credit.
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There is a limitation of $25 per donee on the deduction of gifts to employees for length of service.
A. True
B. False"
The answer is A. True. According to the IRS guidelines, there is a limitation of $25 per donee on the deduction of gifts to employees for length of service.
This means that if an employer gives a gift to an employee as a reward for their long-term service, they can only deduct up to $25 of that gift as a business expense. This limitation is put in place to prevent employers from using gifts as a way to avoid paying taxes on employee compensation.It is important to note that this limitation only applies to gifts given to employees for their length of service. Other types of gifts, such as holiday gifts or bonuses, may have different limitations or be fully deductible. Employers should consult with a tax professional to ensure they are following all IRS guidelines when giving gifts to employees.In conclusion, while there is a limitation on the deduction of gifts to employees for length of service, this does not mean that employers cannot recognize their employees' contributions with a thoughtful gift or reward. It simply means that they must be mindful of the tax implications and limitations when doing so.
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Determine which statements below are correct regarding merchandise available for sale during a period.(Check all that apply.)
Beginning inventory + Net purchases = Merchandise available for sale
Ending inventory + Cost of goods sold = Merchandise available for sale
The following statements are correct regarding merchandise available for sale during a period: Ending inventory represents the value of unsold goods at the end of the accounting period, whereas cost of goods sold represents the cost of the goods that were sold during the same period.
Merchandise available for sale is the sum of ending inventory and cost of goods sold. This represents the total value of the goods that were available for sale during the period, whether they were sold or not.
The calculation of merchandise available for sale is important for businesses to determine their gross profit, which is calculated as sales revenue minus cost of goods sold.
Therefore, ending inventory and cost of goods sold are crucial components in determining the merchandise available for sale during a period, which is used to calculate gross profit.
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using variable costing and the contribution approach for internal decision making blank . multiple select question. is required as part of gaap financial statements supports decision making enables cvp analysis
Using variable costing and the contribution approach for internal decision-making enables CVP (Cost-Volume-Profit) analysis. It supports decision-making by providing information about the contribution margin of each product or service, which is the amount left over after variable costs have been subtracted from sales revenue.
This information can be used to determine the breakeven point, the level of sales required to cover all fixed costs and to assess the profitability of different products or services. While using these methods is not required as part of GAAP financial statements, they are valuable tools for internal decision-making.
These methods are not required as part of GAAP (Generally Accepted Accounting Principles) financial statements. GAAP requires that companies use absorption costing, which includes fixed manufacturing overhead as part of the cost of goods sold.
Variable costing and the contribution approach focus on separating fixed and variable costs, which is useful for decision-making and CVP analysis. However, these methods may not provide the same level of accuracy for financial reporting purposes as absorption costing, which reflects all costs incurred in the production of goods.
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Assume the company is using the Perpetual Inventory System: Record the following transactions from Mar 01 to Mar 10 and calculate the ending balance for Merchandise Inventory account, Merchandise Inventory Balance as of Mar 12:
01-Mar Purchased merchandise from Depo warehouse for $25,000 on credit with term 2/10 N/30.
02-Mar Gap purchased the above Inventory on FOB Shipping point, and paid the Freight of $1,500.
03-Mar Gap Purchases additional merchandises from local store at 3,000 and paid by cash.
05-Mar Gap returned the merchandise worth $2,000 to Depo warehouse which was purchased on credit on Mar 01.
10-Mar Gap paid for the merchandise purchased on Mar 01 after applying the 2% discount. Gap owes $23,000 to Depo warehouse as of Mar 10.
The company is using the Perpetual Inventory System:Record the following transactions from Mar 01 to Mar 10 and calculate the ending balance an organization's possession of commodities and materials for production.
01-Mar. Purchased merchandise from Depo Resale is referred to as inventory in accounting. It is a crucial part of the supply chain and might comprise unfinished products, components, and raw materials that are kept at retail outlets, warehouses
02-Mar. Gap purchand distribution centres. Inventory is also used to keep track of expenditures related to the products, such as production costs or supplier acquisition prices. The cost of the inventory would be $680,000 in total.
03-Mar. Gap Purchases additional merchandises from local store at 3,000 and paid by cash. $750,000 was spent on account-based inventory.
Returns on purchases: - 55,000
Vendor allowances: - 12,000
05-Mar. Gap returned the merchandise worth $2,000 Inventory bought at a net cost of $683,000The closing merchandise inventory as of December 31, 2018 would be shown as $16,520 on the balance sheet.
10-Mar. Gap paid for the merchandise purchased on The calculation is as follows:
Initial Stock of Goods: 200 units at $81 each equals $16,200 plus 400 units at $83 each equals 33,200 plus Returns for purchases: 0
400 items sold equals 24,300.
Ending Inventory of Goods = $16,520.
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Answer the following questions about options written on a dividend paying stock. Suppose that S = 50, K = 45, R = 1.03, u = 1.2, d = .8, and that the stock pays dividends at a rate & such that $\theta=e^{\delta h}=1.06$. i. What is the value of a European call two periods from expiration? ii. What is the value of a European put two periods from expiration? iii. What is the value of an American call two periods from expiration? iv. What is the value of an American put two periods from expiration?
The present value is 17.49; American call value is 17.49; European put, which is 2.68.
Using the given information, S=50, K=45, R=1.03, u=1.2, d=0.8, and the dividend rate θ=1.06, we can calculate the option values as follows:
i. For a European call two periods from expiration, we first calculate the risk-neutral probabilities (p) using p = (R - d) / (u - d) = (1.03 - 0.8) / (1.2 - 0.8) = 0.575. Next, we find the call values at the end of the second period and then use backward induction to determine the present value: C = max(0, (S * θ * u^2 - K) / R^2) = 17.49.
ii. Similarly, for a European put two periods from expiration, we use backward induction to calculate the present value: P = max(0, (K - S * θ * d^2) / R^2) = 2.68.
iii. The value of an American call two periods from expiration is the same as the European call since early exercise is not advantageous when dealing with a dividend-paying stock. Hence, the American call value is 17.49.
iv. For an American put, we need to consider the possibility of early exercise. However, in this case, the optimal decision is not to exercise early, and the value remains the same as the European put, which is 2.68.
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which of these is not part of the social media marketing planning cycle? setting goalstuninge-commerceimplementingmonitoring
E-commerce is not part of the social media marketing planning cycle.
The social media marketing planning cycle typically includes four stages: setting goals, tuning, implementing, and monitoring. Each stage of the cycle is critical for developing an effective social media marketing strategy.
Setting goals involves identifying what the business hopes to achieve through social media marketing. This may include increasing brand awareness, driving website traffic, or generating leads.
Tuning involves conducting research and analyzing data to understand the target audience and develop a content strategy that resonates with them. This may include developing a content calendar, creating social media posts, and engaging with followers.
Implementing involves putting the social media marketing plan into action. This may include creating social media accounts, developing content, and posting updates to social media platforms.
Monitoring involves tracking and analyzing social media metrics to measure the effectiveness of the social media marketing strategy. This may include tracking engagement rates, website traffic, and sales.
E-commerce, on the other hand, is not part of the social media marketing planning cycle.
E-commerce refers to the buying and selling of goods or services online, and while social media can be a valuable tool for promoting e-commerce businesses, it is not considered a stage of the social media marketing planning cycle.
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one of the core objectives of procurement is to ensure that a continuous supply of materials, parts, and components are always available for certain manufacturing functions
Procurement helps to maintain a steady flow of materials, parts, and components to support the manufacturing functions, which is crucial for a company's success.
One of the core objectives of procurement is to ensure that a continuous supply of materials, parts, and components are always available for certain manufacturing functions.
To achieve this objective, procurement involves several key steps:
1. Identifying the materials, parts, and components needed for the manufacturing process.
2. Evaluating and selecting the most suitable suppliers based on factors such as quality, price, and reliability.
3. Negotiating contracts and terms with the chosen suppliers to secure the best possible prices and delivery conditions.
4. Placing orders with the suppliers and ensuring timely delivery of the materials, parts, and components.
5. Monitoring the performance of suppliers and maintaining relationships to ensure consistent quality and continuous supply.
By following these steps, procurement helps to maintain a steady flow of materials, parts, and components to support the manufacturing functions, which is crucial for a company's success.
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Cullumber Company sells its product for $25 per unit. During 2022, it produced 24000 units and sold 15000 units (there was no beginning inventory). Costs per unit are direct materials 55, direct labour $4, and variable overhead $3. Fixed costs are: $288000 manufacturing overhead and $48000 selling and administrative expenses. Under absorption costing what amount of fived overhead is deferred to a future period? O $288000 O S180000 $108000 $99000
Under absorption costing, the amount of fixed overhead deferred to a future period for Cullumber Company is $108,000.
In order to determine the amount of fixed overhead deferred to a future period under absorption costing, we need to follow these steps:
1. Calculate the fixed overhead cost per unit by dividing the total fixed manufacturing overhead costs by the number of units produced.
2. Determine the number of units in ending inventory.
3. Multiply the fixed overhead cost per unit by the number of units in the ending inventory.
Let's go through these steps:
1. Fixed overhead cost per unit: $288,000 (total fixed manufacturing overhead) / 24,000 units (units produced) = $12 per unit
2. Units in ending inventory: 24,000 units (produced) - 15,000 units (sold) = 9,000 units
3. Deferred fixed overhead: $12 (fixed overhead cost per unit) * 9,000 units (ending inventory) = $108,000
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__________ price fixing occurs when competitors collude to control prices, and __________ price fixing occurs within a marketing channel to control prices passed on to consumers.
Horizontal price fixing occurs when competitors collude to control prices, and vertical price fixing occurs within a marketing channel to control prices passed on to consumers.
Here the discussion is about two types of price fixing: horizontal price fixing and vertical price fixing.
Horizontal price fixing occurs when competitors collude to control prices, and vertical price fixing occurs within a marketing channel to control prices passed on to consumers. In horizontal price fixing, companies within the same industry work together to set prices, which can limit competition and harm consumers. On the other hand, vertical price fixing involves different levels of the marketing channel, such as manufacturers and retailers, collaborating to set prices, which can also negatively impact consumers by raising prices or reducing the availability of certain products.know more about price fixing here : https://brainly.com/question/24238269
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