Answer:
Performance management and measure is a tricky tool. It's success and failure depends upon few factors
1) Company's Culture
2) Training programs for employees related to performance management tool.
What actually makes performance management fail is to ignore company's culture while implementing performance management system. If your system is traditional in vibrant or democratic cultured company then it may fail and vise versa. We call it need assessment, in this process HR assess the need and factors that affect the performance system and then suggest and implement appropriate system that is aligned with the company's culture.
Second factor is training for employees, if management implements a system or tool for performance measure and failed to train their employees on that system and measure then it will fail.
For performance management system to work, management may needs to change their policies too.
Actual situation:
Well, i have been working in HR department for 6 years now. We implemented 360 degree system in which not only manager but peer, subordinate and client also evaluate the employee's performance. We also did training sessions for employees to better cope up with the new system.
Desired Outcome:
Real picture of an employee performance.
Actual Outcome:
Fake picture of employees performance and buttering culture.
Reason for failure:
We failed to incorporate the culture of the organization. We didn't made any effort to understand and transform the culture according to the evaluation system that we are going to use. That actually creates the problem. Employees started to evaluate their peers and managers good, only because in return they will be graded good. So, it creates a buttering culture in the company. Which was far from actual measure of performance for an employee.
Solution:
To solve this problem, we actually transformed company's culture by valuing the truth and changing company's policy.
Final answer:
In a business scenario, focusing solely on sales targets can lead to unintended consequences such as neglecting customer service and long-term client relationships.
Explanation:
Brief description of the situation: In a business setting, a situation arose where employees were incentivized solely based on achieving sales targets.
The desired outcome: The desired outcome was to increase sales performance and revenue for the company.
The actual outcome: However, the unintended consequence was that employees focused solely on making sales, neglecting customer service and long-term client relationships.
Reasons why the effort failed: The effort failed because the measurement system did not consider other important factors beyond sales, leading to a decline in overall customer satisfaction and potential long-term business growth.
Richard runs a supermarket chain. All his stores have been experiencing declining sales for the past one year. Richard blames this depletion in sales on the increasing competition in the market. Which of the following theories best explains Richard's behavior in this scenario?
a. Attribution theory
b. Two-factor theory
c. Equity theory
d. Expectancy theory
Answer:
Letter a is correct. Attribution theory.
Explanation:
Attribution theory is defined as a theory of social psychology that explains the way in which people attribute causes of behavior to themselves, other individuals and events to external factors.
In this theory, cognitive perception is affected by the collection of information to arrive at causal explanations for events, which impacts their social and professional conduct, which can generate negative behaviors such as errors of judgment and prejudice.
Simon Company had the following summarized operations for the month of May: Revenues earned: for cash, $32,000; and on account, $18,000; and Expenses incurred: for cash, $5,000; and on account, $10,000. In addition, the company purchased Equipment for $8,000 on account and Supplies for $5,000 for cash. The net income for the month of May is $35,000. $27,000. $45,000. $14,000.
Answer:
$35,000
Explanation:
Given that,
Revenues earned:
cash = $32,000
on account = $18,000
Expenses incurred:
cash = $5,000
on account = $10,000
Net Income:
= Income - Expenses
= (Cash revenue + account revenue) - (cash expenses + Expenses on account)
= ($32,000 + $18,000) - ($5,000 + $10,000)
= $35,000
Therefore, the net income for the month of May is $35,000.
The net income for the month of May is $35,000.
Based on the information given, the revenue will be:
= $32000 + $18000
= $50000
The expenses will be:
= $5000 + $10000
= $15000
The net income will be:
= Revenue - Expenses
= $50000 - $15000
= $35000
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The appropriate discount rate for the following cash flows is 9 percent compounded quarterly. Year Cash Flow 1 $ 815 2 990 3 0 4 1,520 What is the present value of the cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
To calculate the present value of cash flows, discount each cash flow back to the present using the appropriate discount rate of 9 percent compounded quarterly.
The present value of the cash flows can be calculated by discounting each cash flow back to the present using the appropriate discount rate of 9 percent compounded quarterly.
Using the formula for present value:
PV = CF1/(1+r)^1 + CF2/(1+r)^2 + CF4/(1+r)^4
Where PV is the present value, CF is the cash flow in each period, r is the discount rate, and the numbers refer to the respective years. Plugging in the values, we get:
PV = $815/(1+0.09/4)^1 + $990/(1+0.09/4)^2 + $1520/(1+0.09/4)^4
Solving this equation gives the present value of the cash flows.
The present value of the cash flows is approximately [tex]\$3,211.93[/tex].
To find the present value (PV) of the cash flows, we'll use the formula for the present value of a series of future cash flows:
[tex]\[ PV = \dfrac{CF_1}{(1 + r)^1} + \dfrac{CF_2}{(1 + r)^2} + \dfrac{CF_3}{(1 + r)^3} + \dfrac{CF_4}{(1 + r)^4} \][/tex]
Where:
[tex]\( CF_1 = \$815 \)[/tex]
[tex]\( CF_2 = \$990 \)[/tex]
[tex]\( CF_3 = \$0 \)[/tex]
[tex]\( CF_4 = \$1,520 \)[/tex]
[tex]\frac{0.09}{4} = 0.0225[/tex] (quarterly rate)
Substituting the values:
[tex]\[ PV = \dfrac{815}{(1 + 0.0225)^1} + \dfrac{990}{(1 + 0.0225)^2} + \dfrac{0}{(1 + 0.0225)^3} + \dfrac{1,520}{(1 + 0.0225)^4} \][/tex]
[tex]\[ PV= \dfrac{815}{1.0225} + \dfrac{990}{(1.0225)^2} + \dfrac{0}{(1.0225)^3} + \dfrac{1,520}{(1.0225)^4} \][/tex]
[tex]\[ PV = 796.12 + 963.91 + 0 + 1,451.90 \][/tex]
[tex]\[ PV = 3,211.93 \][/tex]
Several years ago MMM Company borrowed money through a bond issue with the following features. Each individual bond has a $1,000 par value and a 9% annual coupon interest rate, with interest paid semi-annually (twice per year), and will mature five years from today.
What price should someone who requires an 8% annual rate of return (yield to maturity) be willing to pay for one of these bonds?
Answer:
$1040.56
Explanation:
A bond is debt instrument issued by a borrower which promises to pay the holder regular interest for the holding period and the terminal value at the end of the period.
According to the discounted cash flow model, the value of an asset is the present value of the future cash flows arising from the assets discounted at the required rate of return.
Present value is the worth today of an amount expected in the future.The process of calculating the present value is called discounting
To calculate the price of this bond, we shall discount the future cash flows using the required return of 8% per annum, which is the same as 4% per six-month
Interest payment per 6 month = (9% × $1000)/2= $45
PV of interest payment = 45 × (1- (1.04)^(-2×5))/0.04)= 364.995
PV of redemption value = 1000 × 1.04^(-2× 5) = 675.56
Price of the bond 1040.56
You express your concern for Alexei's girlfriend and her family without asking personal questions. When Alexei seems surprised that you didn't know about the situation, you are confused. Don't you know?
Answer:
You heard from someone and you were not sure.
Explanation:
In case that you did knew about the situation but you are not telling that to Alexei, you need to come up with a plausible explanation. The best explanation is that you had heard of the situation briefly from a friend or a colleague at work. However, you weren't completely sure of the situation and found it impolite to inquire from Alexei. Being certain that there is a problem, you are expressing your concern and well wish for Alexei's girlfriend and her family.
A(n) ____ strategy involves a partnership with a long-term commitment that can be used to acquire new technology and information.
Answer:
joint venture
Explanation:
Joint venture -
It is the type of business agreement , where two or more companies or business organisation , comes together to merge their resources in order to accomplish a common activity or a new project together , is referred to as a joint venture.
In this scenario , the profit or loss to the new business is equally shared between both the companies.
Hence, from the given statement of the question,
The correct term is joint venture .
Economists speaking like scientists make a. positive statements. b. prescriptive statements. c. claims about how the world should be. d. More than one of the above is correct.
Answer:
a. positive statements.
Explanation:
Positive statements is a statement from the field of positive economics that deals with measurement and explanation of economic phenomena, it deals with or studies 'what is' or how the various economics problems of what to produce, how to produce, when to produce and for whom to produce are actually solved. it uses relevant fact for its analysis.
Economists, like scientists, primarily make positive statements, based on observable and measurable facts. They also make normative statements that describe how they believe the world should be, based on values and opinions.
Explanation:When economists speak like scientists, they make positive statements that describe the world as it is, based on observable and measurable facts that can be tested. This approach is rooted in the economic way of thinking which is meant to understand human behavior and how people, firms, and governments act. On the other hand, prescriptive statements or normative statements are those that describe how the world should be, based on subjective opinions and values, and these can't be tested for validity.
Therefore, in answer to your question, more than one option is correct. Economists speaking like scientists make both a. positive statements and b. prescriptive statements. However, they predominantly make positive statements, and their analysis is mostly based on these.
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In the obsolescing bargain situation, bargaining power of the host country government will be stronger when the MNC has made larger investments in that country.
True or False?
Answer:
True
Explanation:
The obsolescing bargain is a model of interaction between a multinational enterprise and a host country government, which initially reach a bargain that favors the MNE but where, over time as the MNE's fixed assets in the country increase, the bargaining power shifts to the government
A ________ is a descriptive fact about a product or service; a ________ is what the customer gains from that characteristic.
Answer:
The correct words for the blank spaces are: feature; benefit.
Explanation:
The product features are all the characteristics that represent it: design, size, and price, and availability are some of them. The product features make a good or service unique and differentiate it from competitors. The product benefit is the value customers provide to the good or service based on the need it satisfies. The more beneficial, the more frequent customers will purchase it.
Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets = $34,000; Liabilities = $19,000; Dividends = $1,400; Revenues = $10,800; Expenses = $7,400. Required: 1. Calculate net income.
Final answer:
Eagle Corp.'s net income is calculated by subtracting the expenses from the revenues. With revenues at $10,800 and expenses at $7,400, the net income comes out to be $3,400.
Explanation:
The student is asking how to calculate the net income for Eagle Corp., a company that operates MRI clinics. To find the net income, we subtract the total expenses from the total revenues. Given the revenues of $10,800 and expenses of $7,400, the net income can be calculated as follows:
Total Revenues: $10,800
Total Expenses: $7,400
Net Income: $10,800 - $7,400 = $3,400
Therefore, Eagle Corp's net income for the current period is $3,400.
GHI Co. is planning to pay a dividend of $3.20 in the next year and expects to grow the dividend at a constant rate of 4% per year, indefinitely. If the required rate of return buy shareholders is 12%, then the price the price of this stock should be:
Answer:
The price of this stock = $41.6
Explanation:
Explanation:
The Dividend Valuation Model is a technique used to value the worth of an asset. According to this model, the worth of an asset is the sum of the present values of its future cash flows discounted at the required rate of return.
So if an asset (e.g a stock) promises some cash flows in the future, those cash flows need to be brought to their present values and then be added to arrive at the value of the asset.
This model is based on the concept of the time of money. The idea that $1 today is not the same as $1 tommorow. The $1 of today is worth more than that of tomorrow; and because of the opportunity to earn interest. So to determine the worth of a future cash flow, we compute its worth today- its present value.
The Present Value of a future cash flow is the amount that needs to be invested today at a particular rate of return to equal the same cash flow in the future. Present value means the value in year 0 or now
The process of calculating the present value of a future sum is called discounting. So to calculate the stock price in this question, we shall discount the future dividends using the required rate of return and then add them together.
Applying this model, the price of the stock
P =D (1+g)/(r-g)
D in year 0 (i.e now), r = required rate of return, g- growth rate
D- 3.20, r- 0.12, g -0.04
P = (3.20 × (1+0.04))/(0.12-0.04)
P = $41.6
The price of the stock = $41.6
The basic competencies of selling that are required of top professional salespeople include selling skills and _________.a. Accounting knowledgeb. Product knowledgec. Ethical social responsibilityd. Interpersonal communication
Answer:
The correct answer is (d)
Explanation:
Interpersonal communication skills are considered vital for marketing professionals, and companies usually arrange workshops and seminars to improve the interpersonal skills of their marketing employees. Apart from selling skills, interpersonal skills are vital to become a top professional salesman. The face to face communication is all about interpersonal skills which include verbal and non-verbal actions that help to attract more customers.
Parts of Speech. Choose the correct answer. Words such as slowly, very, and tomorrow that answer the questions How? and When? are (a) adverbs, (b) adjectives, (c) nouns, (d) conjunctions:________
Answer:
(a) adverbs,
Explanation:
Words like slowly, very, quickly, fastly and tomorrow that gives the answer to the questions How? are Adverbs. An adverb is a word tells more about a verb, and most of the time answers the questions how often? how? when? what way? where?
Usually, there are five kinds of the adverb, and when the word indicates that how something is done as the question is being asked here, it is called Adverbs of Manner.
The words 'slowly', 'very', and 'tomorrow' that answer 'How?' and 'When?' are adverbs. The correct answer is a.
Explanation:Words such as slowly, very, and tomorrow that answer the questions How? and When? are (a) adverbs. Adverbs are parts of speech that describe a verb, an adjective, or another adverb. They commonly provide more details about how an action is performed, the extent or degree of an action or quality, and time-related aspects.
For example:
The man walked slowly (How did he walk?)The homework was very hard (To what extent was the homework hard?)She will leave tomorrow (When will she leave?)Adverbs often, but not exclusively, end in -ly. However, words like very do not follow this pattern and are still considered adverbs because they modify adjectives or other adverbs.
Buzzard Bicycle specializes in custom painting and design of bicycles. December 31 is the company’s fiscal year-end. Information necessary to prepare the year-end adjusting entries appears below.
1) A three-year fire insurance policy was purchased on July 1, 2021, for $18,000. The company debited Prepaid Insurance for the entire amount.
6) Buzzard borrowed $36,000 on March 1, 2021. The principal is due to be collected in five years. Interest is receivable each March 1 at an annual rate of 10%.
Record the necessary adjusting entries on December 31, 2021. (Do not round intermediate calculations. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
If someone could explain this I'd be eternally grateful
Answer:
See explanation section
Explanation:
Adjusting Entries
Requirement 1
December 31 Insurance Expense Debit $3,000
Prepaid Insurance Credit $3,000
Note: As the company purchased a 3-year life insurance on July 1, 2021, the insurance policy will be expired on June 30, 2024. However, the insurance expense for December 31, 2021 will be for 6 months (July 1, 2021 to December 31, 2021).
Calculation:
Prepaid Insurance (3 years policy) = $18,000, so each year insurance policy will be expired = $18,000 ÷ 3 = $6,000.
Since the insurance will be expired for 6 months in 2021, the insurance expense will be = ($6,000 × 6 months) ÷ 12 months = $3,000
Requirement 6
December 31 Interest expense Debit $3,000
Interest payable Credit $3,000
Note: As the company borrowed $36,000 for five years, the interest is to be paid on March 1, 2022. Therefore the interest expense will be accrued for 10 months (March 1, 2021 to December 31, 2021).
Interest expense will be = $36,000 × 10% × (10/12) = $3,000. Whichever the maturity date to be paid the entire amount will not be affected in that case.
Final answer:
The adjusting entries for Buzzard Bicycle include recording an insurance expense of $3,000 and debiting Prepaid Insurance, along with recording an interest expense of $3,000 and crediting Interest Payable.
Explanation:
To record the necessary adjusting entries on December 31, 2021, for Buzzard Bicycle, you need to consider the two different transactions separately. Here are the adjusting entries:
Insurance: Since the fire insurance policy was purchased on July 1, 2021, for $18,000 and it covers a three-year period, this means that from July 1, 2021, to December 31, 2021, the policy has been in effect for 6 months. To calculate the insurance expense for this period: $18,000 / 36 months * 6 months = $3,000. The adjusting entry will involve debiting Insurance Expense for $3,000 and crediting Prepaid Insurance for $3,000.Interest on Borrowed Funds: For the interest on the borrowed amount of $36,000 at an annual rate of 10%, the interest for the period from March 1, 2021, to December 31, 2021, (10 months) would be: $36,000 * 10% / 12 months * 10 months = $3,000. The adjusting entry will involve debiting Interest Expense for $3,000 and crediting Interest Payable for $3,000.
According to the Flow of Funds Accounts of the United States, the largest financial asset of U.S. households is ____.
Answer
Real estate
Explanation:
Real estate comprises of land and upgrades, which incorporate structures, apparatuses, streets, structures, and utility frameworks.
Business property alludes to land and structures that are utilized by organizations to do their activity.
It is the property, land, structures, air rights over the land and underground rights beneath the land. The term land implies genuine, or physical, property. "Genuine" originates from the Latin root res, or things.
The U.S. Constitution at first confined democratic rights to just proprietors of land.
Bill Lister contracted with Plimsoll Corporation to complete the roofing on a housing complex. A signed contract established a flat amount for the services rendered by Bill Lister. Bill is a licensed roofer and does his business under the business name, Lister Roofing. He hires his own roofers who are treated as employees for federal employment tax purposes. If there is a problem with the roofing work, Lister Roofing is responsible for paying for any repairs. Bill Lister, doing business as Lister Roofing, is a(n)
Multiple Choice
a. agent.
b. independent contractor.
c. bailor.
d. lessee.
Answer:
The correct answer is letter "B": independent contractor.
Explanation:
An independent contractor is typically a third party hired to perform a specific job on behalf of other companies without the need of sharing employees. The independent contractor acts as another company with its own payroll and has all the benefits and liabilities according to the type of organization it selects for business.
Martinez Mining Company purchased land on February 1, 2020, at a cost of $1,031,100. It estimated that a total of 54,000 tons of mineral was available for mining. After it has removed all the natural resources, the company will be required to restore the property to its previous state because of strict environmental protection laws. It estimates the fair value of this restoration obligation at $99,900. It believes it will be able to sell the property afterwards for $111,000. It incurred developmental costs of $222,000 before it was able to do any mining. In 2020, resources removed totaled 27,000 tons. The company sold 19,800 tons.Compute the following information for 2020.
(a) Per unit mineral cost
$enter a dollar amount
(b)
Total material cost of December 31, 2020, inventory
$enter a dollar amount
(c)
Total material cost in cost of goods sold at December 31, 2020
$enter a dollar amount
Answer:
a. $23
b. $165,600
c. $455,400
Explanation:
The computation is shown below:
a. Per unit cost
= Cost of depreciation ÷ estimated number of tons
where,
Cost of depreciation = Purchase value of land + fair value of this restoration obligation + developmental costs incurred - residual value
= $1,031,000 + $99,900 + $222,000 - $111,000
= $1,241,900
And the estimated number of tons is 54,000 tons
So, the per unit cost would be
= $1,241,900 ÷ 54,000 tons
= $23
b. The total material cost for ending inventory would be
= (27,000 tons - 19,800 tons) × $23
= 7,200 tons × $23
= $165,600
c. The total material cost for ending cost of goods sold would be
= 19,800 tons × $23
= $455,400
On November 30, 2019, Constance purchased an apartment building for $750,000 (assume this is the Depreciable Cost excluding any Land valuation). Determine her cost recovery deduction for 2019 rounded to the nearest dollar.
Answer:
$3,412.5
Explanation:
Since the property is purchased by Constance in the month of November, therefore it was not in service for the whole year of 2019 and accordingly the cost deduction rate for the month of november which is 0.455% shall be used for the purpose of calculating Constance cost recovery deduction for the year ended 2019.
Cost recovery deduction for 2019=Purchased amount*0.455%
=$750,000*0.455%=$3,412.5
You would like to have enough money saved after your retirement such that you and your heirs can receive $100,000 per year in perpetuity. How much would you need to have saved at the time of your retirement in order to achieve this goal? (Assume that the perpetuity payments start one year after the date of your retirement. The annual interest rate is 12.5 percent.)
Answer:
$900,000
Explanation:
Given that,
Perpetuity payment = $100,000
Annual interest rate = 12.5 percent
Total value of investment should be:
= Perpetuity payment ÷ Annual interest rate
= $100,000 ÷ 0.125
= $800,000 (should be as balance on the date of retirement)
The first payment of $100,000 should be on the date of retirement
Therefore,
Total investment on the date of retirement should be:
= $800,000 + $100,000
= $900,000
To receive $100,000 annually in perpetuity with an interest rate of 12.5%, you would need to have saved $800,000 at the time of your retirement. This is calculated by dividing the desired annual payment by the interest rate.
Explanation:The subject of this question relates to finance, particularly the concept of perpetuity. Perpetuity is an infinite series of payments or cash flows that occur at regular intervals. In this case, the student wants to find out how much they need to save by retirement to receive $100,000 every year indefinitely, with an annual interest rate of 12.5%.
To calculate this, we can use the formula of Perpetuity Value = Payment / Interest rate. Here the payment is $100,000 and the interest rate is 12.5% or 0.125. Let's plug these into the formula:
Perpetuity Value = 100,000 / 0.125 = $800,000.
So you would need to have saved $800,000 by retirement to achieve your goal of getting $100,000 per year in perpetuity.
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Students in the United States consistently score ________ on international assessments of mathematics and science than do students in other industrialized and even some nonindustrialized nations.
Answer: The correct answer is "lower".
Explanation: Students in the United States consistently score lower on international assessments of mathematics and science than do students in other industrialized and even some nonindustrialized nations.
The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2015.
Account Title Debits Credits
Cash 4,100
Accounts receivable 1,100
Inventory 4,100
Equipment 10,100
Accumulated depreciation—equipment 2,600
Accounts payable 2,100
Common stock 9,000
Retained earnings 5,700
Sales revenue 0
Cost of goods sold 0
Salaries and wages expense 0
Rent expense 0
Advertising expense 0
Totals 19,400 19,400
The following transactions occurred during January 2016:
Jan. 1
Sold merchandise for cash, $2,600. The cost of the merchandise was $1,100. The company uses the perpetual inventory system.
2 Purchased equipment on account for $4,600 from the Strong Company.
4
Received a $200 bill from the local newspaper for an advertisement that appeared in the paper on January 2.
8 Sold merchandise on account for $4,100. The cost of the merchandise was $1,900.
10 Purchased merchandise on account for $9,050.
13 Purchased equipment for cash, $900.
16 Paid the entire amount due to the Strong Company.
18 Received $4,000 from customers on account.
20 Paid $900 to the owner of the building for January’s rent.
30 Paid employees $2,100 for salaries and wages for the month of January.
31
Paid a cash dividend of $900 to shareholders.
Required:
1, Prepare general journal entries to record each transaction.
2, Post the transactions into the appropriate T-accounts.
3,Prepare an unadjusted trial balance as of January 31, 2016.
The journal entries to record each transaction is given below.
Anything that involves a shift in the financial situation of more than one entity, whether they be people or businesses.
A transaction is described as the exchange of goods and services, the transfer of money, or the agreement to trade goods and services in the future, depending on the transaction definition.
Any exchange involving another person can be referred to as a transaction, including significant business deals involving the purchase or sale of items. There are exchanges of money, concepts, and even e-mail. An agreement or completion are both described by the Latin word transaction.
Sold merchandise for cash, [tex]$4,300[/tex]. The cost of the merchandise was [tex]$2,800[/tex]. The company uses the perpetual inventory system.
Debit Cash Account Asset [tex]$ 4,300[/tex]
Credit Sales Income Account [tex]$ 4,300[/tex]
Debit Cost of goods sold [tex]$ 2,800[/tex]
Credit Inventory Account [tex]$ 2,800[/tex]
Purchased equipment on account [tex]$6,300[/tex] of the Strong Company.
Debit Equipment Asset [tex]$ 6,300[/tex]
Credit Payable [tex]$ 6,300[/tex]
4 Received a $100 bill from the local newspaper for an advertisement that appeared in the paper on January 2.
Debit Advertisement expense [tex]$ 100[/tex]
Credit Payable [tex]$ 100[/tex]
Sold merchandise on account for $5,800. The cost of the merchandise was $3,600.
Debit Account Receivable [tex]$ 5,800[/tex]
Credit Sales Income [tex]$ 5,800[/tex]
Debit Cost of Goods Sold [tex]$ 3,600[/tex]
Credit Inventory [tex]$ 3,600[/tex]
Purchased merchandise on account for [tex]$9,900.[/tex]
Debit Inventory [tex]$ 9,900[/tex]
Credit Payable [tex]$ 9,900[/tex]
Purchased equipment for cash,[tex]$700.[/tex]
Debit Equipment Asset [tex]$700.[/tex]
Credit Cash [tex]$ 700[/tex]
Paid the entire amount due to the Strong Company.
Debit Payable [tex]$ 6,300[/tex]
Credit Cash [tex]$ 6,300[/tex]
Received [tex]$5,600[/tex] from customers on account.
Debit Cash [tex]$5,600[/tex]
Credit Receivable [tex]$ 5,600[/tex]
Paid [tex]$700[/tex] to the owner of the building for January’s rent.
Debit Rent expense of [tex]$ 700[/tex]
Credit Cash [tex]$ 700[/tex]
Paid employees [tex]$3,800[/tex] for salaries and wages for January.
Debit Salary expense of [tex]$ 3,800[/tex]
Credit Cash ` [tex]$ 3,800[/tex]
Paid a cash dividend [tex]$ 3,800[/tex] to shareholders.
Debit Dividend payable/Retain Earning [tex]$ 1000[/tex]
Credit Cash [tex]$ 1000[/tex]
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Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation.
Which of the following scenarios is either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply.
a. The loss of enjoyment people incur when scenic land is converted to commercial use
b. The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government
c. Expenditures on federal highways
d. The variety of goods available to consumers
Answer:
A. The loss of Enjoyment People incur when scenic land is converted for commercial use
B. The value of baby sitting services when the baby sitter is paid cash and the transaction isn't reported to the government
D. The variety of goods available to the consumers
Explanation:
The Gross Domestic Product (GDP) represents the total market value monetarily of all finished products or all services that are produced in a country, within its borders and it is measured for a period of time.
The GDP broadly measures this market value and since it represents a broad measurement, there are apparently transactions and productions or even services that won't be adequately measured or accounted for
1. The loss of enjoyment people incur when scenic land is converted to commercial use is a cost that cannot be monetarily valued hence it won't be accounted for
2. The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government- This will not be measured accurately because not all persons who hire baby sitters will report the transaction
3. The variety of goods available to consumers are numerous and the government will not be able to account for every single one
Final answer:
GDP does not include non-market transactions like the loss of enjoyment from converting scenic land to commercial use or underground economic activities like unreported cash payments for babysitting. However, it does include government expenditures such as spending on federal highways and the total market value of goods but not their variety.
Explanation:
Gross Domestic Product (GDP) is the primary indicator used to gauge the health of a country's economy. However, it has certain limitations and does not capture all economic transactions. The following scenarios are those that GDP, either via the income or the expenditure methods, does not account for accurately:
The loss of enjoyment people incur when scenic land is converted to commercial use, which is not a market transaction and thus not included in GDP.The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government, represents underground economic activity, which is not included in GDP because it's often unreported.Expenditures on federal highways are accounted for in GDP as government spending.The variety of goods available to consumers does not directly impact GDP as it measures the total market value, not the diversity of products.Describe several ways that communication technology can assist individuals and organizations.
Answer:
Describe several ways that communication technology can assist individuals and organizations?
Communication Technology has greatly helped individuals to build confidence or increase it, also it helps to grow or develop a good interpersonal relationship, it also helps individual to be expressive either by writing or speaking, it helps enhances smooth running of organization in terms of team work, synergy, among others
Explanation:
Which process is recommended for those products with the highest volume and the highest standardization on the product continuum?
Answer:
correct answer is Continuous flow
Explanation:
highest volume and the highest standardization is Continuous flow
because in the Continuous-flow process it involve moving of 1 work unit at a time between the every step of the process without break in the time and sequence and substances
simply continuous flow save the time, energy and the cost with high volume and the high standard
so here the correct answer is Continuous flow
Selene owns a craft store. Her total costs are $1.2 million per year, and her variable costs are $750,000 per year. This means that her fixed costs are
Answer:
fixed costs = $450000
Explanation:
given data
total costs = $1.2 million per year
variable costs = $750,000 per year
solution
we get her fixed costs that is express here as
fixed costs = total costs - variable costs ...........................1
put here value and we will get fixed costs
fixed costs = $1.2 million - $750,000
fixed costs = $1200000 - $750,000
fixed costs = $450000
There are four basic principles of finance. Which principle correctly describes the following statement: "A dollar today is worth more than a dollar received in the future. Conversely, a dollar received in the future is worth less than a dollar received today"?
Answer:
Time value of money
Explanation:
The ability of money kept in a savings deposit to earn interest over time and the increase in the total interest in line with the length of time, brought us to a conclusion that an amount of money to be received now, that is in the present, is worth more than the same amount if received in the future.
The increase in the value of money as a result of interest earned on it, increases the value of money, this concept is what is referred to time value of money.
Suppose that the Bethesda Mining Company had sales of $2,166,873 and net income of $108,381 for the year ending December 31, 2019. Calculate ROE using the DuPont identity. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin and return on equity as a percent.)
Answer: attached below
Explanation:
The return on equity is 24.01%. As the profit margin is 3.30% and assets turnover is 29.9. The equity multiplier is 2.65. The image is attached for better understanding.
What is return on equity?Return on equity is the proportion of a company's net income to its shareholders' equity. Return on equity is a metric used to assess a company's financial performance and the efficiency of its revenue generating.
The higher the ROE, the better a company is in converting equity financing into profits. ROE is used to compare the financial performance of companies in the same sector. As it specifies the profit generated by the firm.
It measures the management's ability to turn a profit with the equity at hand. A return of 15% to 20% is considered to be favourable.
Thus, The return on equity is 24.01%.
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Planter Corporation used debentures with a par value of $566,000 to acquire 100 percent of Sorden Company's net assets on January 1, 20X2. On that date, the fair value of the bonds issued by Planter was $550,000. The following balance sheet data were reported by Sorden:
Balance Sheet Item Historical Cost Fair Value
Assets
Cash & Receivables $59, 000 $53, 000
Inventoy 101, 000 203, 000
Plant & Equipment 413,000 310,000
Less: Accunulat ed Depreciation (168,000)
Goodwill 13,000
Total Assets $480, 000 $675, 000
Liabilities and Equities
Accounts Payable $47,000 $47,000
Common Stock 89,000
Additional Paid-In Capital 60, 000
Retained Eamings 284, 000
Total Liabilities& Equities $ 480,000
Required:
1. Determine the amount Planter Corporation would record as a gain on bargain purchase and prepare the journal entry Planter would record at the time of the exchange. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answer:
$78,000
Explanation:
The journal entry is shown below:
Cash & Receivables A/c Dr $53,000
Inventory A/c Dr $203,000
Land A/c Dr $109,000
Plant & Equipment A/c Dr $310,000
Discount on Bonds payable A/c Dr $16,000 ($566,000 - $550,000)
To Account payable $47,000
To Bond payable $566,000
To gain on purchase $78,000
(Being the exchange is recorded and the balancing figure is credited to gain on purchase account)
The computation of gain on purchase account would be
= Fair value of assets - fair value of account payable - fair value of the bonds issued by Planter
= $675,000 - $47,000 - $550,000
= $78,000
Note: The land historical cost and fair value is $62,000 and $109,000 respectively
This information is not given in the question
Which of the following is not involved with the demographic component of an organization's external environment?
A) gender
B) income
C) values
D) race
Answer:
The correct answer is letter "C": values.
Explanation:
The demographic components of an organization's external environment are composed of those features of the people that do not belong to the firm. Those features can be measured and represent information from where companies can determine what their target population could be.
In that case, as values cannot be measured, they do not fall into this category. Gender, income, and race do.
There are different aspects or component of demographic environment. The option that is not involved with the demographic component of an organization's external environment is values.
Demographic analysis is simply known to be the study of a population using the factors such as age, race, and sex.
Demographic data are therefore any socioeconomic information that is often shown statistically such as employment, education, income, etc.
Some examples of demographics are age, race, ethnicity, gender, marital status, income, etc. and therefore values is not one of them.
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A _____ is a statement of company rules, guidelines, and instructions with a purpose to inform, build image, and goodwill. A. monthly and annual report B. transmittal C. 10 K report D. policy and procedure bulletin E. quarterly report
Answer:
The correct answer is letter "D": policy and procedure bulletin.
Explanation:
The policy and procedure bulletin is the document that states all the practices and behavior the company expects from the employees after hiring them. The policy and procedure bulletin represents the rules of the firm that must be followed within the organization to ensure worker's safety and a peaceful work-frame.