Incoming callers' perceptions of unfairness are diminished and a clear expectation is set by communicating the length of their wait time in advance. This enhances the overall customer experience.
What are the abilities in customer service?Client retention and acquisition are highly dependent on customer service. Companies can increase sales by utilising good customer service. Being empathetic, communicating effectively, and addressing problems are essential components of providing exceptional customer service.
A call centre interview is what?For businesses, call centres serve clients who have queries, grievances, or suggestions on goods or services. A call centre interview is a chance for you to highlight your problem-solving abilities and show off your capacity to win over clients' trust.
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On January 1, year 1, Olinto created a $650,000 trust that provided his mother with a lifetime income interest starting on January 1, year 1, with the remainder interest to go to his son. Olinto expressly retained the power to revoke both the income interest and the remainder interest at any time. Who is taxed on the trust's year 1 income
Answer:
c. Olinto
Explanation:
Multiple choice "a. Olinto's mother, b. Olinto's son, c. Olinto, d. The trust"
As the income tax rules mandate the liability to pay tax on trustees, the tax can be levied and recovered from a representative assesse i.e., the trustee who is Olinto. Olinto is a grantor and thus as per section 676, he must be taxed on the income generated through revocable trust.
An assembly line with 15 tasks is to be balanced. The longest task is 2.9 minutes, and the total time for all tasks is 17 minutes. The line will operate for 450 minutes per day. a. What are the minimum and maximum cycle times
Answer:
Minimum ⇒ 2.9 minutesMaximum ⇒ 17 minutesExplanation:
Minimum cycle time ⇒ This is the time taken for the longest task to be completed. In this case that is 2.9 minutes.
Maximum cycle time ⇒ This is the time taken for all the tasks to be completed. In this case that is 17 minutes.
Suppose a firm in a competitive market earned $3,000 in total revenue and had a marginal revenue of $30 for the last unit produced and sold. What is the average revenue per unit, and how many units were sold
Answer:
100 units were sold at $30 per unit
Explanation:
theoretically, in a perfect competition market, the price of a good = marginal revenue = marginal cost. Also, the market sets the price, not the individual firm.
If total revenue = $3,000 and marginal revenue per unit = $30, then we can assume that the sales price of each unit was $30, therefore, they sold $3,000 / $30 = 100 units.
The average revenue per unit, and how many units were sold is $30 and 100 units.
Based on the information given the average revenue per units is the marginal revenue of the amount of $30.
The number of units sold is calculated as:
Number of units sold= Total revenue/Marginal revenue
Number of units sold= 3000/30
Number of units sold= 100 units
Inconclusion the average revenue per unit, and how many units were sold is $30 and 100 units.
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During January 2020, the company had the following transactions: Example: Made payments of $4,000 on outstanding accounts payable 1. Sold $2,000 of inventory to customers for $3,000 in cash. 2. Purchased $2,500 of new inventory for cash 3. Sold $3,500 of inventory to customers on account for $5,500. 4. During the month, received $3,500 from customers as payments on their accounts 5. Borrowed $20,000 from the bank and issued stock for $5,000 to purchase land for $25,000 for a future warehouse 6. Paid employees $2,000 for payroll Required: 1. Record the January 2020 transactions by adding and subtracting amounts in the rows of the following table in a way that the row totals represent the end of the month balances in the financial statements. (fill in the shaded area as needed) 2. Explain the main characteristics of the balance sheet and the income statement and the relationship between those two statements.
Answer:
Journal Entries:
Example:
Debit Accounts Payable $4,000
Credit Cash Account $4,000
To record the payment to suppliers.
1. Debit Cash Account $3,000
Credit Sales Revenue $3,000
To record the cash sales to customers.
Debit Cost of Goods Sold $2,000
Credit Inventory $2,000
To record the cost of goods sold.
2. Debit Inventory $2,500
Credit Cash Account $2,500
To record the purchase of inventory for cash.
3. Debit Accounts Receivable $5,500
Credit Sales Revenue $5,500
To record the sale of goods on account.
Debit Cost of Goods Sold $3,500
Credit Inventory $3,500
To record the cost of goods sold.
4. Debit Cash Account $3,500
Credit Accounts Receivable $3,500
To record the cash receipt from customers.
5. Debit Land $25,000
Credit Bank Loan Payable $20,000
Credit Common Stock $5,000
To record the purchase of land.
6. Debit Salaries and Wages $2,000
Credit Cash Account $2,000
To record the payment of payroll.
2. The main characteristics of the balance sheet and the income statement and the relationship between the two statements:
The balance sheet is a financial statement that records the outstanding balances of assets, liabilities, and equity at the end of a period. It states the closing balances that are permanent and transferrable to the next accounting period. The income statement is a financial statement that records the revenue, expenses, and income for the period. The temporary closing balances are taken to this statement in order to determine the net income.
The relationship between the two statements is that the net income or loss that is extracted from the income statement is taken to the balance sheet. The two statements are end-of-period financial statements that determine the financial profitability and the financial position (assets, liabilities, and equity) of the business.
Explanation:
In this instance, the template for adding and subtracting amounts in the rows is not available. So the transactions have been recorded using the journal. Most importantly, note that, each transaction increases or reduces the assets, the liabilities, and the equity, as the case may be.
The median price of existing homes: ___________
a. has increased over the past 30 years, thereby acting as a hedge against inflation.
b. has risen less than the Consumer Price Index.
c. always increases in value.
d. tends to be countercyclical, thereby acting as a hedge against the business cycle.
e. remains constant over time.
Answer:
C
Explanation:
The median price of existing homes always increases in value. This is so because as the year goes on, there is an ever increasing need for shelter. Because of the fact that people procreate and more people are living, there is the certain need, or say, demand for shelter. And as a result of this, there doesn't seem to be a decline in the demand, and most likely wouldn't be anytime soon either.
The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted accounts receivable balance on May 31 would be:
Answer:
$242,000
Explanation:
Calculation for what The budgeted accounts receivable balance on May 31 would be
Accounts Receivable
Debit side
April 320,000
May 300,000
Total $620,000
Credit side
April 96,000 (30% x 320,000)
April 192,000 (60% x 320,000)
May 90,000 (30% x 300,000)
Total=$378,000
The budgeted accounts receivable balance=$620,000-$378,000
The budgeted accounts receivable balance=$242,000
Therefore The budgeted accounts receivable balance on May 31 would be $242,000
What are some ways that businesses can implement internal accounting controls
Answer:
Segregation of Duties in the Cash Receipts Cycle.
Systems Access and Security.
Safeguarding Assets.
Approval Process.
Review Process.
Explanation:
A new sports car sells for $40,000. The value of the car decreases by 12% annually. After how many years will it be worth half of its selling price
Answer:
n= 6.11 years
Explanation:
Giving the following information:
Present value= $40,000
Future value= $20,000
Decrease rate= 0.12
To calculate the number of years for the car to reach a value of $20,000; we need to use the following formula:
n= ln(FV/PV) / ln(1+i)
n= ln(20,000/40,000) / ln(1.12)
n= 6.11 years
Forest Gump drinks Dr. Pepper. He can buy as many cans of Dr. Pepper as he wishes at a price of $0.50 per can. On a particular day, he is willing to pay $1.00 for the first can, $0.75 for the second can, $0.60 for the third can, and $0.40 for the fourth can. Assume Forest Gump is rational in deciding how many cans to buy. His consumer surplus is
Answer:
0.85
Explanation:
1-0.50 = 0.50
0.75-0.50 = 0.25
0.60-0.50 = 0.10
0.50+0.25+0.10
= 0.85
Depreciation--Jerry Company purchased machinery for $315,000 on May 1,2020 . It is estimated that it will have an useful life of 5 years, and a salvage value of $15,000. the machine is expected to last 100,000 hours. The machine was used for 25,000 hours the first year. What is the depreciation for the first year assuming working hours method (activity method) is expected to be used
Answer:
The depreciation for the first year is $75,000
Explanation:
In working hours method the depreciation on a fixed asset is charged using the ratio of numbers of hours utilized by the asset in a period and lifetime working capacity in hours.
First, we need to calculate the Depreciable value
Depreciable value = Cost of Asset - Salvage value = $315,000 - $15,000 = $300,000
Depreciation = Depreciable value x Numbers of hours worked / Total working capacity of Asset = $300,000 x 25,000 / 100,000 = $75,000
If two identifiable markets differ with respect to their price elasticity of demand and resale is impossible, a firm with market power will Group of answer choices Set price equal to marginal cost in both markets. Set price so as to equate the elasticity of demand across markets. Set a higher price in the market that is more elastic. Set a lower price in the market that is more price elastic.
Answer: Set a lower price in the market that is more price elastic.
Explanation:
It would be in the best interest of the firm with market power to set a lower price if the market is more price elastic.
Price elasticity is the measure of how much quantity demanded changes in response to a change in price.
If the firm with market power sets a lower price in a market that is more price elastic, it can expect that the quantity demanded will increase more which can give a higher profit.
Jim drops his car off at ABC Garage to have his exhaust system repaired and takes the train to work. When he returns, he finds that his car has been vandalized. Jim has comprehensive coverage, but feels the garage is responsible for the damage since Jim entrusted the car to ABC Garage. Which coverage type under ABC's garagekeepers policy would split the cost of the loss with Jim's own insurer without placing blame on ABC Garage
Answer: Direct Excess Coverage
Explanation:
The coverage type under ABC's garagekeepers policy that would split the cost of the loss with Jim's own insurer without placing blame on ABC Garage is the direct excess coverage.
This coverage is identical to the direct primary coverage and it basically protects the vehicle of a client without taking into consideration the person that is responsible. The direct excess coverage will be paid in excess of the primary policy.
Consider the following information on returns and probabilities: Invest 1/2 of your money in Asset A and 1/2 in Asset B. State Probability A B Boom .25 12% 4% Bust .75 6% 18% What is the expected return for the portfolio
Answer: 11%
Explanation:
Find the expected return in both Booms and Busts;
0.5 of your money is in Asset A and Asset B each.
Boom;
= (0.50 * 12%) + (0.50 * 4%)
= 8%
Bust
= (0.50 * 6%) + (0.50 * 18%)
= 12%
Portfolio expected return = (0.25 * 8%) + (0.75 * 12%)
= 11%
Describe the technologies that contributed to the development and advancement of the newspaper from small, infrequent circulations of a few brief pages to the mass production of daily, extensive pages of news.
Answer: The industrial revolution came with the advent of the stream powered printing press, enabling newspapers to be produced in masses
Explanation:
The industrial revolution came with the advent of the stream powered printing press, enabling newspapers to be produced in masses. Improvement also took place in the inking process to aid speed up production also introduction of wood pulp helping drive production cost. One of the major advantage for this widespread growth was the relevance the newspaper gained globally as worthy news ready to be reported were available.
During 2020, Sandeep had the following transactions: Salary $ 80,000 Interest income on City of Baltimore bonds 1,000 Damages for personal injury (car accident) 100,000 Punitive damages (same car accident) 200,000 Cash dividends from Chevron Corporation stock 7,000 Sandeep's AGI is: a.$387,000. b.$285,000. c.$287,000. d.$187,000.
Answer: c.$287,000.
Explanation:
City of Baltimore bonds are Municipal so their interest are tax exempt and so are Damages for personal injury.
Sandeep's AGI is therefore;
= Salary + Punitive damages + Cash dividends from Chevron
= 80,000 + 200,000 + 7,000
= $287,000
Novak Corp.'s trial balance reported the following balances at the end of its first year: Cash $17080 Prepaid insurance 850 Accounts receivable 4270 Accounts payable 3420 Notes payable 5120 Common stock 6590 Dividends 850 Revenues 35380 Expenses 21350 What amount did Novak Corp.'s trial balance show as total credits
Answer:
Explanation:
Novak Corp.'s
Trail Balance
Debit ($) Credit ($)
Cash $17,080
Prepaid insurance $850
Accounts receivable $4,270
Accounts payable $3,420
Notes payable $5,120
Common stock $6,590
Dividends $850
Revenues $35,380
Expenses $21,350
Credit Total $50,510
When an organization defines itself and its niche in an environment by the choice of what sector or field of the environment it will use its technology, products, and services to compete in and serve, it is describing its ______.
Answer:
Domain
Explanation:
It should be noted that When an organization defines itself and its niche in an environment by the choice of what sector or field of the environment it will use its technology, products, and services to compete in and serve, it is describing its Domain. Domain can be regarded as the chosen field of action for an organization/company, it encompass the part of the environment chosen by the organization which is vital to the organization, it involves the chosen niche of the organization in the environment.
______ occurs when an employee or an applicant is treated unfairly at work or in the job hiring process due to an identity group, condition, or personal characteristic.
Answer:
Workplace discrimination.
Explanation:
Workplace discrimination is an extremely negative situation that occurs due to certain characteristics of an individual. It may occur because the individual belongs to different ethnic groups, depending on nationality, color, religion, etc.
This situation is harmful to the organization as a whole, the discriminated individual is the one who suffers the most for having their equality rights violated and for feeling coerced and disrespected in a work environment that should be supported by criteria of equality, ethics and collaboration .
It is necessary for companies to be aware of possible loopholes in their policies that may corroborate with such illegal acts, revising them whenever necessary and strengthening the values of respect for personal individualities and equality among employees.
5 poin
What do we call an interest-bearing account at a bank that pays a higher
interest rate than a regular savings account? *
Checking Account
Stocks
Money market
None of the above
PLEASEEE
Answer:
Money market account
Explanation:
Money market deposit account MMDA are high earning saving accounts offered by banks and credit unions. Financial institutions require a minimum amount to open an MMDA account. Customers are also required to maintain a specified balance in their accounts at all times. Withdrawals from money market deposit accounts are restricted.
Money market account pays a higher interest because financial institutions use the deposit from these accounts to invest in short-term money market securities. Examples of Money market securities include commercial papers, certificates of deposits, and treasury bills. They often offer high returns. The interest rates offered on MMDA is influenced by the interest earned on the money market securities.
On Monday PBC (Peanut Butter & Chocolate) Candy Company’s entire balance sheet comprised real assets of $500 million and cash of $50 million. It had no debt (nor preferred shares). On Tuesday PBS established a line of credit for $100 million with BBB (Big Bad Bank). On Wednesday morning PBC drew down $20 million from its credit line and kept it in cash for later use. Which of the following is correct regarding PBC Wednesday afternoon? a) Debt of $100 million and assets of $550 million b) Debt of $100 million and assets of $650 million c) Debt of $20 million and assets of $570 million d) Debt of $20 million and assets of $650 million e) Debt of $20 million and assets of $630 million
Answer:
c) Debt of $20 million and assets of $570 million
Explanation:
Line of credit increases liability in a company's Balance sheet only when it is used. Thus, PBC (Peanut Butter & Chocolate) Company will have debt of $20 Million and Assets of $570 Million
Mcniff Corporation makes a range of products. The company's predetermined overhead rate is $19 per direct labor-hour, which was calculated using the following budgeted data: Variable manufacturing overhead $ 32,000 Fixed manufacturing overhead $ 272,000 Direct labor-hours 16,000 Management is considering a special order for 730 units of product O96S at $67 each. The normal selling price of product O96S is $78 and the unit product cost is determined as follows: Direct materials $ 40.00 Direct labor 15.00 Manufacturing overhead applied 19.00 Unit product cost $ 74.00 If the special order were accepted, normal sales of this and other products would not be affected. The company has ample excess capacity to produce the additional units. Assume that direct labor is a variable cost, variable manufacturing overhead is really driven by direct labor-hours, and total fixed manufacturing overhead would not be affected by the special order. Required: The financial advantage (disadvantage) for the company as a result of accepting this special order would be:
n the theory of perfect competition, the assumptions of many buyers and sellers, the production of a homogeneous product, and the possession of all relevant information by buyers and sellers imply that the perfectly competitive firm a. has a demand curve that is perfectly inelastic. b. has a demand curve that is perfectly elastic. c. sets the price it wishes. d. has a demand curve that is downward sloping
Answer:
b. has a demand curve that is perfectly elastic. c. sets the price it wishes
Explanation:
Elasticity of demand is a measure of the degree of change in quantity demanded to changes in price.
For a perfectly elastic demand it means that an infinite quantity of a product will be required by consumers at a particular price. The perfectly elastic demand curve is usually horizontal.
In perfectly competitive markets elasticity of demand is perfectly elastic because there are many buyers and sellers, production of a homogeneous product, and the possession of all relevant information by buyers and sellers.
So prices between products tend to be the same
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its dividends will grow by 20 percent next year, 12 percent annually for the two years after that, and then at 6 percent annually thereafter. Based on this information, how much should Jia's Fashions common stock sell for today if her required return is 10.5%?
Answer:
years late but here ya go (answer $59.16)
Explanation:
P0 = 2 * (1+0.2) / (1+0.105) + 2 * (1+0.2) * (1+0.12) / (1+0.105)^2 +
2*(1+0.2)*(1+0.12)^2 / (1+0.105)^3 +
[(2 * (1+0.2) * (1+0.12)^2 * (1+0.06) / (0.105-0.06)) / (1+0.105)^3 ]
P0 = $59.16
The standard price and quantity of direct materials are separated because a.direct materials prices are controlled by the purchasing department and quantity used is controlled by the production department b.standard prices are more difficult to estimate than standard quantities c.standard quantities change more frequently than standard prices d.GAAP and IFRS reporting requires separation
Answer:
a.direct materials prices are controlled by the purchasing department and quantity used is controlled by the production department
Explanation:
In the case when the standard price and the quantity with respect to the direct material are distinct as the price of the direct material would be controlled by the purchasing department while on the other hand, the quantity would be controlled by the production department
Therefore as per the given situation, the correct option is a.
On June 1, 2021, Emmet Property Management entered into a 2-year contract to oversee leasing and maintenance for an apartment building. The contract starts on July 1, 2021. Under the terms of the contract, Emmet will be paid a fixed fee of $54,000 per year and will receive an additional 10% of the fixed fee at the end of each year provided that building occupancy exceeds 80%. Emmet estimates a 20% chance it will exceed the occupancy threshold, and concludes the revenue recognition over time is appropriate for this contract. Assume Emmet estimates variable consideration as the most likely amount. How much revenue should Emmet recognize on this contract in 2021? Multiple Choice $27,540 $54,000 $30,750 $27,000
Answer:
$27,540
Explanation:
Expected amount = Possible amount into probability
Expected amount = ($54,000*80%) + ($54,000+10%)*20%
Expected amount = $43,200 + ($54,000+$5,400)*20%
Expected amount = $43,200 + $59,400*20%
Expected amount = $43,200 + $11,880
Expected amount = $55,080
Revenue to be recognized on this contract in 2021 = $55,080 * 6/12 = $27,540.
If you purchase 100 shares of XYZ Corporation for $50 per share, receive a dividend check for $200, and then sell the stock for $62 per share, what will your return on the stock be
Answer:
Your return on the stock will be 28%.
Explanation:
Po = Initial price per share = $50
P1 = New price per share = $62
S = Number shares purchased = 100
D = Dividend per share = Dividend received / Number shares purchased = $200 / 100 = $2
Therefore, we have:
Stock return = ((P1 - Po) + D) / Po = (($62 - $50) + $2) / $50 = ($12 + $2) / $50 = $14 / $50 = 0.28, or 28%
Therefore, your return on the stock will be 28%.
Miller Fruit wants to expand its citrus grove operations. The firm estimates that it needs $8.6 million to buy land and establish its operations. Currently, the firm has 540,000 shares of stock outstanding at a market price per share of $47.50. If the firm decides to raise the needed capital through a rights offering, one right will be issued for each share of stock. The subscription price will be set at $40 a share. How many rights will a shareholder need to purchase one new share of stock in this offering
Answer: 2.51
Explanation:
First, we calculate the number of shares that will be issued in order to raise $8.6 million at $40 a share. This will be:
= $8.6 million / $40
= 215,000
Since the firm currently has 540,000 shares of stock outstanding, the number of rights that a shareholder will need to purchase one new share of stock in this offering will be:
= 540,000 / 215,000
= 2.51
Computer equipment was acquired at the beginning of the year at a cost of $65,000 that has an estimated residual value of $3,800 and an estimated useful life of 8 years. (1)Determine the (a) depreciable cost for straight rate, (b) straight-line rate, and (c) annual depreciation for the straight line rate (d) double declining balance depreciation amount for 1st year (2) Journalize the sale of the equipment at the end of the 4th year for $20,000 cash, if using the straight line rate.
Answer:
a) Depreciable cost = $61,200
b) Straight-line rate = 12.5%
c) Annual depreciation for the straight-line rate is:
$7,650.
d) The double-declining balance depreciation amount for the 1st year is:
$15,300.
e) Journal Entry of sale of equipment at the end of the 4th year for $20,000, using the straight-line rate:
Debit Sale of Equipment $65,000
Credit Equipment $65,000
To record the transfer of the equipment account.
Debit Accumulated Depreciation $30,600
Credit Sale of Equipment $30,600
To record the transfer of accumulated depreciation to the account.
Debit Cash Account $20,000
Credit Sale of Equipment $20,000
To record the cash received from the sale.
Debit Profit and Loss Account $14,400
Credit Sales of Equipment $14,400
To record the loss on sale of equipment.
Explanation:
a) Data and Calculations:
Cost of computer equipment = $65,000
Estimated residual value = 3,800
Depreciable value = $61,200
Estimated useful life = 8 years
Annual depreciation expense = $7,650 ($61,200/8) or $61,200 * 12.5%
Depreciable cost = $61,200 ($65,000 - $3,800)
Straight-line rate = 12.5% (100%/8)
Double-declining rate = 12.5% x 2 = 25%
Depreciation amount for the 1st year = $15,300 ($61,200 * 25%)
Book value of asset at the end of the 4th year, straight-line method:
Cost of equipment = $65,000
Accumulated Depreciation = $30,600 ($7,650 * 4)
Book value = $34,400
Sales proceed = $20,000
Loss on sale of asset = $14,400 ($34,400 - $20,000)
Maxim Corp. has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 255 $ 151 6/5 Purchase 455 $ 171 11/10 Purchase 155 $ 211 During the year, Maxim sold 510 units. What is cost of goods sold using the average cost method
Answer:
$87,858.55
Explanation:
Date Transaction Number of Units Cost per Unit
1/1 Beg. 255 $151
6/5 Purchase 455 $171
11/10 Purchase 155 $211
total 865
total purchases + beginning inventory = (255 x $151) + (455 x $171) + (155 x $211) = $149,015
average cost per unit = $149,015 / 865 units = $172.27
COGS = $172.27 x 510 units = $87,858.55
In the Month of March, Digby received orders of 182 units at a price of $15.00 for their product Deal, and in April receives an order for 46 units of their product Deal at $15.00. Digby uses the accrual method of accounting and offers 30 day credit terms. Digby delivers 0 units in March, 182 units in April and 46 units in May. They received payment for 182 units in April, and payment for 46 units in May. How much revenue is recognized on the March income statement from this order
Answer: 0
Explanation:
Accrual accounting method simply means when revenue or expenses are written down and recorded at the time that the transaction took place and not when payment was gotten.
The revenue that is recognized on the March income statement will be 0. This is because the delivery was in April and none took place in March.