The adjusting entry to accrue interest expense at May 31 for Quick Travel can be recorded as follows.
Interest Expense (income statement) $18 Interest Payable (balance sheet) $18Explanation:Adjusting entries are journal entries made at the end of an accounting period that alter the accounts' balances and are required to bring them up to date and ensure that they comply with the accrual accounting method.
One of these adjusting entries is accrued interest expense.As of May 31, Quick Travel owed $1,022 × 9% ÷ 12 = $7.65 in interest to its bank. This interest had been accumulated but not yet recorded in the accounts. The company must accrue this interest in May as an expense, so it will be included in the income statement for the period.The adjusting entry can be recorded as shown below.
Interest Expense $7.65Interest Payable $7.65Explanation:Interest expense is a nominal account that shows the expense of borrowing money for Quick Travel. Interest payable is a current liability account that records the amount of interest that the company owes but has yet to pay. Therefore, the adjusting entry is posted to these two accounts affected by the adjustment.
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People’s Bank and Trust is a full-service, privately owned community bank. The bank is divided into the following departments: Customer Service, Loans, Business Services, and Investment Services. The bank is presently upgrading its servers from Windows Server 2008 to Windows Server 2016. Also, it is gradually upgrading client computers from a mix of Windows 7 and 8 to Windows 10. The cash drawers at the tellers’ booths are connected to Windows 7 computers, which are networked into the servers. The bank uses Active Directory with one small domain and with OUs for each department. All of the servers at the bank are configured as DCs. Your boss has asked you to outline a plan to configure the Windows Firewall to support users’ network security. Address the following four questions in your response to him/her: What is the purpose of a firewall? What exceptions and advanced features would you configure? Why? How can you use Group Policy to configure the Windows Firewall? What other features of Windows Server can you use to enhance the bank's network security?
The purpose of a firewall is to filter out unwanted traffic and to keep hackers and other malicious entities from penetrating the network. In order to configure the Windows Firewall to support users' network security, a plan should be put in place.
The plan should include the following: Exceptions and advanced features should be configured for the Windows Firewall. This will help to keep the network secure and prevent unwanted traffic from coming through. Group Policy should be used to configure the Windows Firewall. This is an important step because it allows administrators to create policies that can be applied to all computers in the network. Other features of Windows Server can be used to enhance the bank's network security. These include the following: BitLocker Drive Encryption, which provides data protection for computers that are lost or stolen. Network Access Protection, which helps to prevent unauthorized computers from connecting to the network.
The purpose of a firewall is to filter out unwanted traffic and to keep hackers and other malicious entities from penetrating the network. It is important to configure the Windows Firewall in order to support users' network security. This can be done by configuring exceptions and advanced features for the Windows Firewall. By doing this, the network can be made more secure and prevent unwanted traffic from coming through. Group Policy should be used to configure the Windows Firewall. This is an important step because it allows administrators to create policies that can be applied to all computers in the network. By using Group Policy, it is possible to configure the Windows Firewall in a way that is specific to the needs of the network. Other features of Windows Server can be used to enhance the bank's network security. These include BitLocker Drive Encryption, which provides data protection for computers that are lost or stolen, and Network Access Protection, which helps to prevent unauthorized computers from connecting to the network. By taking advantage of these features, the network can be made more secure and provide a better level of protection for the bank's customers.
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Please explain the difference between information share model by
Hasbrouck (1995) and Gonzalo and Granger (1995) Permanent component
and Transitory component
In the study of finance, two theories, namely Hasbrouck's information share model and Gonzalo and Granger's permanent and transitory component model, are employed to help explain price movements in financial markets. This essay aims to discuss these two models and contrast them to show the significant differences between them.
The information share model developed by Hasbrouck is utilized to explain the relationship between information acquisition and trading behavior in financial markets. According to the model, the degree of information revealed to traders depends on the size of their trade, with large trades reflecting greater information. The model suggests that, on average, the number of informed traders increases as the number of small trades decreases while the number of uninformed traders increases as the number of small trades increases.
The Gonzalo and Granger model, on the other hand, explains the relationship between permanent and transitory shocks on financial markets. The model posits that the variation in the price of an asset over a long time is a result of its permanent component, while the short-term price fluctuation is caused by transitory shocks. The model implies that market participants should focus on permanent shocks, as opposed to transitory shocks, when analyzing long-term trends and their consequences.
In this model, price change is decomposed into two parts: permanent and transitory. In conclusion, while the information share model is concerned with the degree of information revealed to traders and its impact on trading behavior, Gonzalo and Granger's model explains how permanent and transitory shocks affect the price movement of an asset. The former provides insight into how traders behave, while the latter focuses on the long-term trend of an asset's price movement.
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the use of outside suppliers and manufacturers to produce goods and services is known as ______.
The use of outside suppliers and manufacturers to produce goods and services is known as outsourcing.
Outsourcing is a business strategy where a company contracts with external suppliers or manufacturers to perform certain tasks, produce goods, or provide services that were previously handled in-house. This allows the company to focus on its core competencies while leveraging the expertise, resources, and efficiencies of external entities. Outsourcing can involve various functions, such as manufacturing, customer support, IT services, logistics, or any other non-core activities that can be efficiently and cost-effectively handled by external partners.
Companies may choose to outsource for several reasons:
Cost savings: Outsourcing certain functions can often be more cost-effective than maintaining in-house operations. External suppliers may offer economies of scale, specialized expertise, and lower labor costs, resulting in potential cost savings for the company.
Access to expertise: Outsourcing allows companies to access specialized knowledge and skills that may not be available internally. External suppliers or manufacturers may have advanced technologies, industry-specific expertise, or extensive experience in a particular area, providing added value to the company.
Increased flexibility and scalability: By outsourcing, companies can scale their operations more flexibly to meet fluctuating demands. They can easily adjust the level of outsourcing based on their current needs, avoiding the need for significant investments in infrastructure or personnel.
Focus on core competencies: Outsourcing non-core functions enables companies to concentrate their resources and efforts on their core competencies. By delegating certain tasks to external suppliers, they can allocate more time, attention, and resources to activities that directly contribute to their competitive advantage and business growth.
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Direct Materials Variances Tip Top Corp. produces a product that requires 11 standard gallons per unit. The standard price is $8 per gallon. If 3,800 units required 42,600 gallons, which were purchased at $7.6 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
(a) The direct materials price variance is $9,520 (unfavorable).
(b) The direct materials quantity variance is $2,600 (favorable).
(c) The direct materials cost variance is $6,920 (unfavorable).
The direct materials price variance is calculated by multiplying the difference between the actual price ($7.6) and the standard price ($8) by the actual quantity purchased (42,600 gallons).
The direct materials quantity variance is determined by multiplying the difference between the actual quantity used (42,600 gallons) and the standard quantity (3,800 units × 11 gallons per unit) by the standard price ($8).
The direct materials cost variance is the sum of the price variance and the quantity variance.
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A firm practices the pure chase strategy. Production last quarter was 1600 . Demand over the next four quarters is estimated to be 1300,1100,1400, and 1000 . Hiring cost is $22 per unit, and firing cost is $10 per unit. Over the next year, the sum of hiring and layoff costs will be
A firm practicing the pure chase strategy with production of 1600 units last quarter and demand estimates of 1300, 1100, 1400, and 1000 units over the next four quarters. Hiring cost is $22 per unit, and firing cost is $10 per unit.
The pure chase strategy aims to align production closely with demand. In this case, the firm produced 1600 units last quarter. The estimated demand for the next four quarters is 1300, 1100, 1400, and 1000 units, respectively.
To meet the changing demand, the firm will need to hire or fire employees. Hiring cost is $22 per unit, and firing cost is $10 per unit.
Calculating the hiring and firing costs for each quarter:
Quarter 1: Hiring cost = (1300 - 1600) * $22 = -$6,600 (No hiring needed)
Quarter 2: Firing cost = (1600 - 1100) * $10 = $5,000
Quarter 3: Hiring cost = (1400 - 1100) * $22 = $6,600
Quarter 4: Firing cost = (1100 - 1000) * $10 = $1,000
Total hiring and firing costs over the next year:
Total = -$6,600 + $5,000 + $6,600 + $1,000 = $6,000
Therefore, the sum of hiring and firing costs over the next year is $6,000.
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Is a supply chain the same as a business process? (If you are
just going to copy and paste something from somewhere else online,
please don't reply)
No, a supply chain is not the same as a business process. A supply chain and a business process are two distinct concepts that refer to different aspects of business management. A business process is a set of activities or tasks that an organization carries out to achieve its objectives.
Business processes can be classified into several categories, including operational, management, and supporting processes. Operational processes are the core processes that generate revenue for the organization, while management processes are the processes that manage and control the organization's operations. Supporting processes are those that enable the operational and management processes to function effectively.
A supply chain, on the other hand, is a network of organizations, people, activities, information, and resources involved in the creation and delivery of a product or service. The supply chain starts with the raw materials needed to produce a product and ends with the delivery of the finished product to the end customer. The supply chain involves several processes, including sourcing, procurement, production, transportation, storage, and delivery.
Business processes and supply chains are related but different concepts. Business processes are the set of activities that enable a company to achieve its objectives, while a supply chain is the network of organizations, people, and activities involved in the creation and delivery of a product or service.
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A vendor at a soccer stadium notices that the warmer the weather, the more soft drinks he normally sells. In technical terms, the vendor has noticed that temperature and soft drink sales are
a) spurious.
b) correlated.
c) independent.
d) nominal.
correlated. When two variables show a consistent relationship or pattern in their values, they are considered correlated.
In this scenario, the vendor at the soccer stadium has observed that as the temperature increases, the sales of soft drinks also increase. This indicates a correlation between temperature and soft drink sales. Correlation means that there is a statistical association between the two variables, in this case, temperature and soft drink sales. It implies that there is some form of relationship or connection between the two factors. In this instance, the warmer weather seems to have a positive impact on soft drink sales. It's important to note that correlation does not necessarily imply causation. While the vendor has observed a relationship between temperature and soft drink sales, it does not prove that one variable directly causes the other. Other factors or variables may also be influencing the sales, and further analysis would be needed to establish a causal relationship.
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this would be an adjusting entry for interest expense, so what accounts will be involved? choose the most complete answer that is technically correct.
When recording an adjusting entry for interest expense, there are typically two accounts involved: Interest Expense and Interest Payable. Interest Expense: This account represents the cost of borrowing money or the interest incurred on a loan.
It is an expense account and is reported on the income statement. To record the interest expense, we would debit the Interest Expense account. Interest Payable: This account represents the amount of interest owed but not yet paid. It is a liability account and is reported on the balance sheet. To record the interest payable, we would credit the Interest Payable account. Let's consider an example to understand how these accounts are involved in an adjusting entry for interest expense: Suppose a company has a loan with an annual interest rate of 5%. At the end of the month, they need to record the interest expense for the month.
The company's loan balance is $10,000, and the interest for the month is calculated as ($10,000 x 5% x 1/12) = $41.67. To record the adjusting entry, we would debit the Interest Expense account for $41.67 to recognize the expense for the month. At the same time, we would credit the Interest Payable account for $41.67 to reflect the amount of interest owed but not yet paid. By making this adjusting entry, the company accurately reports the interest expense incurred during the period and recognizes the liability for the unpaid interest. Remember, adjusting entries are made at the end of an accounting period to ensure that financial statements reflect accurate and up-to-date information.
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when the us dollar appreciates, us exports rise. us imports decline. aggregate demand shifts leftward. aggregate demand shifts rightward
When the US dollar appreciates, it has an impact on various economic indicators. Here is an analysis of the impact of the appreciation of the US dollar on exports, imports, and aggregate demand.Exports riseWhen the US dollar appreciates, the goods and services produced in the US become more expensive for foreign buyers.
This results in a decline in demand for US exports. However, this also means that the foreign currencies required to purchase these goods have become relatively cheaper. This leads to an increase in demand for US exports, making them more attractive to foreign buyers, thus causing an increase in US exports.Imports declineConversely, when the US dollar appreciates, imports become cheaper as foreign currencies become relatively more expensive. This makes imports relatively more expensive and less attractive to US buyers.
Therefore, the demand for imports decreases, causing a decline in US imports.Aggregate demand shifts leftwardWhen the US dollar appreciates, US exports become more expensive and less attractive, leading to a decline in demand for US exports. The decline in exports leads to a decline in production, incomes, and employment in export-oriented industries. These factors ultimately lead to a decrease in aggregate demand.
Thus, when the US dollar appreciates, aggregate demand shifts leftward.Aggregate demand shifts rightwardOn the other hand, when the US dollar depreciates, US exports become cheaper, and demand for exports increases, leading to an increase in production, incomes, and employment in export-oriented industries. These factors ultimately lead to an increase in aggregate demand. Thus, when the US dollar depreciates, aggregate demand shifts rightward.
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i need your help in explaining the following:
why do Top managers need information that is external and why operational managers internal
why do Top managers need information that is summarized and why operational managers Detailed
why do Top managers need information that is summarized and why operational managers Detailed
why do Top managers need information that is Future oriented and why operational managers past oriented
why do Top managers need information that is wide scope and why operational managers narrow scope
why do Top managers need information that is soft information and why operational managers hard information
Top managers are decision-makers who manage the overall activities of the organization. Operational managers are responsible for managing day-to-day operations.
The information needs of top managers are different from the information needs of operational managers. Here are the reasons for these differences:
Why do Top managers need information that is external and why operational managers internal?
Top managers need external information because it provides them with an understanding of the external environment. This information helps them to make decisions that affect the organization as a whole.
Operational managers, on the other hand, need internal information because it helps them to manage the day-to-day operations of the organization.
Why do Top managers need information that is summarized and why operational managers Detailed?Top managers need summarized information because they are responsible for making decisions that affect the organization as a whole.
Summarized information gives them an overview of the situation, allowing them to make decisions quickly. Operational managers need detailed information because they are responsible for managing day-to-day operations.
Detailed information gives them the specific information they need to manage these operations effectively.
Why do Top managers need information that is Future oriented and why operational managers past oriented?Top managers need future-oriented information because they are responsible for the long-term success of the organization. T
his information helps them to identify trends and anticipate changes in the market. Operational managers need past-oriented information because it helps them to evaluate performance and make decisions based on past performance.
Why do Top managers need information that is wide scope and why operational managers narrow scope?
Top managers need wide scope information because they are responsible for the overall performance of the organization.
This information helps them to understand how different parts of the organization are working together. Operational managers need narrow scope information because they are responsible for managing specific parts of the organization. This information helps them to manage these parts effectively.
Why do Top managers need information that is soft information and why operational managers hard information?
Top managers need soft information because it provides them with insights into the organization's culture, values, and attitudes. This information helps them to make decisions that are aligned with the organization's goals. Operational managers need hard information because it is objective and measurable.
This information helps them to manage day-to-day operations and make decisions based on data.
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Pena Company is considering an investment of $21,705 that provides net cash flows of $6,700 annually for four years. (a) If Pena Company requires a 7% return on its investments, what is the net present value of this investment? (PV of $1, FV of $1. PV of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your present value factor to 4 decimals.) (b) Based on net present value, should Pena Company make this investment? Complete this question by entering your answers in the tabs below. What is the net present value of this investment?
To calculate the net present value (NPV) of the investment, we need to discount the net cash flows using the required rate of return.
Given:
Initial investment: $21,705
Annual net cash flow: $6,700
Number of years: 4
Required rate of return: 7%
(a) Net Present Value (NPV) Calculation:
Step 1: Determine the discount factor using the appropriate present value of $1 table for a 7% interest rate and 4 years. The discount factor is the present value factor.
From the table, the present value factor for 7% and 4 years is 0.7130.
Step 2: Calculate the present value of each net cash flow.
Year 1: $6,700 * 0.7130 = $4,783.10
Year 2: $6,700 * 0.7130^2 = $3,409.96
Year 3: $6,700 * 0.7130^3 = $2,429.16
Year 4: $6,700 * 0.7130^4 = $1,730.86
Step 3: Calculate the net present value by subtracting the initial investment from the present value of the cash flows.
NPV = Present value of cash inflows - Initial investment
NPV = ($4,783.10 + $3,409.96 + $2,429.16 + $1,730.86) - $21,705
NPV = $12,353.08 - $21,705
NPV = -$9,351.92
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Segmentation and targeting are two key marketing tactics that must always be on the forefront of a marketer’s mind when developing a marketing strategy. Consider your readings as you compile your initial post to the prompts below:
You have been promoted to Marketing Manager at Rossignol, one of the leading manufacturers of skiing and snowboarding equipment. Your first task is to come up with a new marketing campaign for the 2019-2020 winter season. Your objective is to increase overall sales of their Alpine (downhill) ski line. Before you go ahead and do that, you want to make sure that you have properly segmented the market and know who your target is going to be.
Determine how you would segment the market. Describe the demographic, geographic, psychographic, and behavioral attributes that you would assess when conducting segmentation.
Ultimately, based on your segmentation strategy, who would your target market be? Explain why.
Segmentation and targeting are two essential marketing tactics that must always be on the forefront of a marketer’s mind when developing a marketing strategy.
Segmentation is the process of dividing the market into smaller groups of potential customers that share common needs and characteristics,
while targeting involves selecting specific segments to serve based on their attractiveness and fit with the organization's objectives.
As a Marketing Manager at Rossignol, I would segment the market based on various factors,
including demographic, geographic, psychographic,
and behavioral attributes.
Demographic segmentation divides the market into groups based on age, gender, income, education, and other demographic factors.
Geographic segmentation divides the market based on geographic location, such as country, city, or region.
Psychographic segmentation divides the market based on consumers’ lifestyles,
personalities, values, interests, and attitudes,
while behavioral segmentation divides the market based on consumer behaviors, such as usage, loyalty, occasions, and benefits sought.
Considering the ski industry,
I would segment the market based on the following attributes:
Demographic attributes:
Age, Gender, Income, Education, and Occupation.
Geographic attributes:
Region, Climate, and Snowfall.
Psychographic attributes:
Lifestyle, Social Class, Personality, and Attitudes.
Behavioral attributes:
Occasions, Benefits Sought, Usage, and Loyalty.
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Crimson Inc. wants to issue 17 -year, zero coupon bonds that yield 6.5 percent, compounded semiannually. What price should it charge for these bonds if the face value is $1,000 ?
Given that Crimson Inc. wants to issue 17-year, zero coupon bonds that yield 6.5 percent, compounded semiannually.
What price should it charge for these bonds if the face value is $1,000?The face value of the bond is $1,000 and it matures in 17 years. So the number of semi-annual periods will be 2 * 17 = 34 periods .The semi-annual interest rate is 6.5% / 2 = 0.0325.
Using the formula for the price of a zero-coupon bond, we get:
P = FV / (1 + r)n where,P = the price of the bond
FV = the face value of the bond r = the semi-annual interest rate
n = the number of semi-annual periods
Plugging in the values, we get:
P = 1000 / (1 + 0.0325)34≈ $333.646823
Crimson Inc. should charge approximately
$333.646823
for these bonds if the face value is $1,000.
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On January 1, Boston Enterprises issues bonds that have a $1,450,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31 . The bonds are sold at par, 1. How much interest will the issuer pay (in cash) to the bondholders every six months? 2. Prepare journal entries to record (a) the issuance of bonds on January 1 , (b) the first interest payment on June 30 , and (c) the second interest payment on December 31 . 3. Prepare the journal entry for issuance assuming the bonds are issued at (a)95 and (b)105, Complete this question by entering your answers in the tabs below. How much interest will the issuef pay (in cash) to the bondholders every six months?
The given bond-related information are as follows;
Par value = $1,450,000
Maturity = 20 years
Interest rate = 9%
Interest payments = Semi-annual
The interest payment on the bond is calculated as;
Interest payment = Par value × (Interest rate/2)
Interest payment = $1,450,000 × (9%/2) = $1,450,000 × 0.045 = $65,250
the interest that the issuer will pay (in cash) to the bondholders every six months is $65,250.Journal entries to record (a) the issuance of bonds on January 1;
(a) Issuance of Bonds on January 1 Accounts Debit Credit Cash $1,450,000Bonds Payable $1,450,000
First interest payment on June 30;
(b) First Interest Payment on June 30Accounts Debit Credit Interest Expense $65,250Cash $65,250
Second interest payment on December 31;
(c) Second Interest Payment on December 31 Accounts Debit Credit Interest Expense $65,250Cash $65,250
Journal entry for issuance assuming the bonds are issued at (a) 95;
(a) Issuance of Bonds assuming the bonds are issued at 95 Accounts Debit Credit Cash $1,377,500Bonds Payable $1,377,500Calculation of the Bonds Payable is as follows;
Bonds Payable = Par value × Issue price
Bonds Payable = $1,450,000 × 95%
Bonds Payable = $1,377,500
Journal entry for issuance assuming the bonds are issued at (b) 105;
(b) Issuance of Bonds assuming the bonds are issued at 105Accounts Debit Credit Cash $1,522,500Bonds Payable $1,522,500
Bonds Payable = Par value × Issue price
Bonds Payable = $1,450,000 × 105%
Bonds Payable = $1,522,500
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2
Sandy Nguyen just graduated from college and has $40,000 in student loans. The loans bear interest at a rate of 6% and require quarterly payments. a. What amount should Sandy pay each quarter if she wishes to pay off her student loans in six years? Use Excel or a financial calculator for the computations. Round your answer to the nearest dollar. $ b. Sandy can only afford to pay \$1,500 per quarter. How long will it take Sandy to repay these loans? Use Excel or a financial calculator for the computations. Round the number of years to the nearest whole number. years
Sandy should pay approximately $110,312 each quarter to pay off her student loans in six years.
a. To calculate the quarterly payment amount needed to pay off Sandy's student loans in six years, we can use the formula for the payment on an amortizing loan. The formula is:
Payment = Loan Amount / Present Value Factor
Where: Loan Amount = $40,000
Present Value Factor = 1 - (1 + Interest Rate)^(-Number of Periods)
The interest rate is 6% per year, and since the loan requires quarterly payments, the number of periods is 6 years * 4 quarters per year = 24 quarters.
Let's calculate the quarterly payment:
Present Value Factor = 1 - (1 + 0.06)^(-24)
Present Value Factor ≈ 0.3624
Payment = $40,000 / 0.3624
Payment ≈ $110,312
Therefore, Sandy should pay approximately $110,312 each quarter to pay off her student loans in six years.
b. If Sandy can only afford to pay $1,500 per quarter, we can use the same formula to calculate the number of periods needed to repay the loan. Rearranging the formula, we have:
Number of Periods = -log(1 - (Payment / Loan Amount)) / log(1 + Interest Rate)
Let's calculate the number of periods:
Number of Periods = -log(1 - ($1,500 / $40,000)) / log(1 + 0.06)
Number of Periods ≈ 30.36
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Explain the market equilibrium using a diagram to illustrate the local telecommunication retail market before and after the entry of MVNOs. Explain the impact on the industry price and quantity in terms of the services provided. (with market equilibrium curve provided)
Market equilibrium is a state where the supply and demand are equal. This occurs when a market is at equilibrium. Market equilibrium can be explained using a diagram, which shows the relationship between supply and demand. The local telecommunication retail market is a perfect example of market equilibrium.
It is a market where various telecommunication companies sell their services to the customers. Before the entry of MVNOs, there were fewer players in the market, and the demand for telecommunication services was higher than the supply.
Therefore, the industry was in a state of disequilibrium as shown in the figure below: [tex]\begin{align} Q_{D} &= 150- 10P\\ Q_{S} &= 20 + 10P\\ \end{align}[/tex]The figure above shows the market equilibrium curve. At the price of $12, the quantity demanded is equal to the quantity supplied, i.e., QD=QS=70.
This is the equilibrium price, and the market is at equilibrium. However, in the local telecommunication retail market, the equilibrium price was $20 with a quantity of 50 units before the entry of MVNOs. This indicates that there was a shortage of telecommunication services in the market.
The arrival of MVNOs increased the supply of telecommunication services in the market. Therefore, the supply curve shifted to the right, as shown in the figure below:[tex]\begin{align} Q_{D} &= 150- 10P\\ Q_{S} &= 40 + 10P\\ \end{align}[/tex].
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On January 1, 2017, Elemeno Inc. had 6000 shares of common stock authorized, $500 shares of common stock issued, and 2,402 shares in treasury stock. On April 1, 2017, Elemeno sold 458 shares from treasury stock at $42 each. On October 1, 2017, Elemeno sold an additional 138 shares from treasury stock at $55 each. For the fiscal year ended December 31, 2017, net income available for common shareholders was $10,000.
Elemeno Inc. had 6000 authorized shares, 500 issued shares, 2402 treasury shares, sold some treasury shares, and earned $10,000 net income in 2017.
6000 shares of common stock were authorized for Elemeno Inc. in 2017, with 500 shares having been issued and 2402 being kept in treasury. They sold 458 shares of treasury stock at a price of $42 per share on April 1 and 138 shares at a price of $55 per share on October 1. The company made a net income of $10,000 for common shareholders for the fiscal year that ended on December 31, 2017. These transactions show that Elemeno Inc. used its treasury shares to raise money through sales while keeping some in treasury, according to the transactions. The net income shows the company's annual profitability, which could support future dividend payments or reinvestment plans for common shareholder.
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(3-6) When a party fails to perform her duties under a contract, we consider the contract to be breached. The law provides REMEDIES to compensate parties for their damages arising out of breach of contract. (Note: the types of damages available in a breach of contract case are different then the Special/General/Punitive damages we saw in actions based on tort law.) Match the following remedy terms (3−6) with their best descriptions (a−d) below: 3. Damages a. the court orders the parties to do what they promised to do 4. rescission and restitution b. the court reforms (corrects or edits) the contract to correct mistakes and remove unconscionable or unlawful provisions 5. specific performance c. court awards money or property. 6. reformation d. court cancels the contract and returns the parties to their pre-contract position
Previous question
The answer to the question above is:
DAMAGES (C) - Court awards money or property.
RESCISSION AND RESTITUTION (D) - Court cancels the contract and returns the parties to their pre-contract position. SPECIFIC PERFORMANCE (A) - The court orders the parties to do what they promised to do.
REFORMATION (B) - The court reforms (corrects or edits) the contract to correct mistakes and remove unconscionable or unlawful provisions. When a party fails to perform her duties under a contract, we consider the contract to be breached. The law provides remedies to compensate parties for their damages arising out of a breach of contract. The types of damages available in a breach of contract case are different than the Special/General/Punitive damages we saw in actions based on tort law.
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On November 1, 2021, New Morning Bakery signed a $199,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2022.
New Morning Bakery should record which of the following adjusting entries at December 31, 2021? (Do not round your intermediate calculations.)
Debit Interest Expense and credit Interest Payable, $5,970.
Debit Interest Expense and credit Interest Payable, $1,990.
Debit Interest Expense and credit Cash, $1,990.
Debit Interest Expense and credit Cash, $5,970.
The journal entry to record the accrued interest at December 31, 2021, would be:
Debit Interest Expense and credit Interest Payable, $1,990.
On November 1, 2021, New Morning Bakery signed a $199,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2022.
The adjusting entry for December 31, 2021, would involve recording an accrual for the interest incurred on the note payable since the last payment date (November 1, 2021, to December 31, 2021).
Thus, the debit side of the entry should be Interest Expense, while the credit should be Interest Payable. The Interest Payable account should be credited for the interest that has accrued since the last payment.
The Interest Expense account should be debited for the amount of interest that the firm has incurred until the end of December 2021. To calculate the interest expense, we multiply the principal amount by the interest rate for the period that the interest has been charged.
Journal entry to record accrued interest:
Debit Interest Expense ($199,000 * 6% * 2/12) = $1,990
Credit Interest Payable $1,990
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according to the us office of personnel management, a valid job analysis provides data that should be used for what other purposes?
A valid job analysis provides valuable data that can be used for recruitment and selection, performance management, training and development, job evaluation and compensation, as well as legal compliance purposes within an organization.
1. Recruitment and Selection: The information gathered from a job analysis helps in identifying the essential job requirements, such as skills, knowledge, and qualifications, needed for effective recruitment and selection of candidates. It ensures that the selection process aligns with the job's demands and facilitates finding the right fit for the position.
2. Performance Management: Job analysis data is crucial for setting performance expectations and goals. It provides a clear understanding of the key job responsibilities and performance criteria, enabling managers to establish appropriate performance standards and evaluate employee performance effectively.
3. Training and Development: Job analysis helps identify the skills and competencies required to perform a job effectively. This information is instrumental in designing training programs and development initiatives to address any skill gaps or developmental needs identified in the job analysis process.
4. Job Evaluation and Compensation: Job analysis provides insights into the complexity, responsibilities, and requirements of a job, which are essential for job evaluation and determining equitable compensation structures. It helps in establishing the relative worth of different jobs within an organization and ensures fair and consistent compensation practices.
5. Legal Compliance: Job analysis serves as a foundation for ensuring legal compliance in various areas, such as equal employment opportunity, workplace health and safety, and accommodation of disabilities. It provides objective and documented information about job requirements, essential functions, and qualifications, which can be used as evidence to demonstrate compliance with legal regulations.
In summary, a valid job analysis provides valuable data that can be used for recruitment and selection, performance management, training and development, job evaluation and compensation, as well as legal compliance purposes within an organization.
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sandra routinely uses currency to purchase her groceries. she is using money as a medium of exchange. True or false
True. Sandra is using money as a medium of exchange when she routinely purchases groceries with currency. Money serves as a widely accepted means of transaction, facilitating the exchange of goods and services.
Medium of exchange refers to the function of money as a widely accepted intermediary used to facilitate transactions. In the context of Sandra using currency to purchase groceries, money serves as a medium of exchange by allowing her to exchange the currency for goods.
It eliminates the need for bartering or direct trade, providing a convenient and universally accepted method for conducting transactions in the economy.
As a medium of exchange, money enables individuals to engage in economic activities and supports the smooth functioning of markets by promoting efficient and seamless exchange of goods and services.
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trey compares the prices offered by different vendors for the same goods and services. which part of the purchasing process is trey involved in?
Trey is involved in the price comparison stage of the purchasing process. This stage typically occurs after identifying the need for goods or services and before making the final purchasing decision. During this stage, Trey evaluates and compares the prices offered by different vendors for the same goods or services.
By comparing prices, Trey aims to find the best deal that meets his requirements in terms of price and quality. This process involves gathering price quotes or proposals from multiple vendors, considering any additional factors such as shipping costs or warranties, and analyzing the value offered by each vendor. Trey may also negotiate or seek discounts to secure a favorable price.
Price comparison is an essential step in the purchasing process as it helps individuals or organizations make informed decisions, optimize their budget, and obtain the best possible value for their money.
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Most people tend to follow society's expectations regarding how they should act and look (with some deviation here and there). Conformity is a change in beliefs or actions as a reaction to real or imagined group pressure. For societies to function, people develop norms or informal rules that govern behavior. For example, there is no law against cutting in line. But the informal rule that one should not cut in line would be an example of a norm. The stronger the norms of a society, the more pressure there is to conform. This pressure to conform conflicts with the motivation to be unique.
Choose a product that you have recently purchased and explain how conformity to societal norms affected your decision.
Review Chapter 11 and name three reasons why people might conform as you did for the product above.
Three decision making Dimensions that describe of purchasing strategies of an organizational buyer
The level of information he or she must gather prior to the decision.
The seriousness in which he or she Must consider all possible alternative.
Better grade to which he or she is familiar with the purchase.
And practice space three dimensions relate to how much conjunctive effort The buyer expands when he or she decides
Would there be any reason why you might not conform to social norms and not purchase the product?
Conformity to societal norms affects the decisions of individuals regarding which products to purchase. For example, the type of clothes, gadgets, or other items that people buy are usually influenced by social expectations.
Below is an explanation of how conformity to societal norms affected my decision to purchase a product. I recently bought a smartphone. My decision was influenced by conformity to societal norms. I was aware that most people nowadays use smartphones for communication, entertainment, and other purposes. Therefore, I had to conform to the norm of owning a smartphone by purchasing one. This pressure to conform conflicts with the motivation to be unique.
Normative influence is the desire to fit in and avoid rejection by the group. Informational influence is the desire to be correct and the belief that others have more information. Social identity theory is the desire to maintain a positive self-concept and identity.
The level of information he or she must gather prior to the decision, the seriousness in which he or she must consider all possible alternatives, and the better grade to which he or she is familiar with the purchase are the three decision-making dimensions that describe the purchasing strategies of an organizational buyer.
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Students will find a recently published newspaper article related to economics and analyze it using frameworks developed in this course. A report guideline is available on D2L. Students must submit a short-written article (not more than two pages) on the news piece they have analyzed. This submission
can be made before the due date (August 5
In this task, students are asked to analyze a recently published newspaper article that's related to economics using the frameworks developed in their economics course. The report guidelines are readily available on D2L. Upon analyzing the news piece, students should write a short article that summarizes their findings and recommendations. This submission should not exceed two pages.
The submission can be made before the due date, which is August 5.The objective of this task is to evaluate the students' ability to apply the economic concepts and frameworks they have learned to analyze real-world economic issues.
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A financial institution has agreed to pay 8% per annum and receive three-month
SOFR in return on a notional principal of $150 million with payments being
exchanged every three months. The swap has a remaining life of 13 months. The
average of the bid and offer fixed rates currently being swapped for three-month
SOFR is 9% per annum for all maturities with continuous compounding. The three-
month SOFR rate two months ago was 7.5% per annum. What is the value of the
swap?
A financial institution has agreed to pay 8% per annum and receive three-month SOFR in return on a notional principal of $150 million with payments being exchanged every three months. The swap has a remaining life of 13 months.
The average of the bid and offer fixed rates currently being swapped for three-month SOFR is 9% per annum for all maturities with continuous compounding. The three-month SOFR rate two months ago was 7.5% per annum. The value of the swap can be calculated using the following formula:$$\text{Value of swap}=\sum_[tex]{i=1}^N \frac{CF_i}{(1+R_{i,\text{eff}}/m)^{tm_i}}$$[/tex] Where, N = number of cash flows $CF_i$ = cash flow at time t $m$ = number of compoundings per year $R_{i,\text{eff}}$ = effective rate at time t $t$ = time in years to cash flow $i$.
We have, notional principal = $150$ million $m$ = $4$ compoundings per year Average fixed rate[tex], $R_f$ = $9\%$[/tex] per annum Three-month SOFR rate two months ago = $7.5\%$ per annum Three-month SOFR rate, $R_s$, for the current quarter can be calculated as[tex]:$$R_s=\frac{1}{4}\ln\left(\frac{1+0.075\times\frac{3}{12}}{1+R_f\times\frac{3}{12}}\right)\times 100\%= 7.849\%$$[/tex] Cash flows from the swap can be calculated as follows:| Time (months) | 1 | 4 | 7 | 10 | 13 || --- | --- | --- | --- | --- | --- ||[tex]Fixed-rate | 9% | 9% | 9% | 9% | 9% || SOFR rate | 7.849% | 7.849% | 7.849% | 7.849% | 7.849% || Cash flow | -$3$ million | $2.97$ million | $2.94$ million | $2.91$ million | $152.65$ million |.[/tex]
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You are currently employed by a company whose accounts receivable turnover is 65 days with terms of net 30 . What are two things that you could recommend to your boss about how to improve that ratio.
The accounts receivable turnover ratio is a significant measure of how efficiently a company uses its resources to sell its products or services on credit. It is essential to keep this ratio low to ensure that the business has enough funds to maintain its operations. Here are two things that you could recommend to your boss about how to improve the accounts receivable turnover ratio:
1. Tighten Credit Standards
One way to improve the accounts receivable turnover ratio is by tightening credit standards. You can ensure that your company only offers credit to customers who have a good track record of paying their debts on time.
This way, the risk of bad debt is minimized. Moreover, you should also conduct a credit check on new customers to ensure that they have a good credit score.
2. Encourage Early Payment
Another way to improve the accounts receivable turnover ratio is by encouraging early payment. You can offer your customers a discount if they pay their bills before the due date.
For example, if the terms of payment are net 30, you can offer a discount of 2% if the customer pays within 10 days.
This way, your customers will be encouraged to pay early, and your accounts receivable turnover ratio will improve.
Two things that you could recommend to your boss about how to improve the accounts receivable turnover ratio are to tighten credit standards and to encourage early payment.
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Suppose that currency in circulation is $800 billion, the amount of checkable deposits is $1000 billion, excess reserves are $50 billion, and the required reserve ratio is 8%. a. (5pts) Calculate the money supply, the currency deposit ratio, the excess reserve ratio, and the money multiplier. b. (5pts) Suppose the central bank conducts an open market sale of bonds of $30 billion due to the high inflation in the economy. Assuming the ratios you calculated in part (a) remain the same, predict the effect on the money supply. c. (5pts) Suppose the central bank conducts the same open market sale as in part (b), and banks choose to buy the bonds using their excess reserve. If currency and deposits remain the same, what happens to the excess reserve ratio, the money supply, and the money multiplier?
a. Calculation of money supply, currency deposit ratio, excess reserve ratio, and money multiplier: Currency deposit ratio: The currency deposit ratio is the proportion of currency held by the public compared to the bank deposits it generates.
Currency deposit ratio = Currency in circulation/Checkable deposits= 800/1000=0.8.
Excess reserve ratio: The excess reserve ratio is the proportion of the bank's excess reserves to its total deposits.
Excess reserve ratio = Excess reserves / Total deposits = 50/1000 = 0.05.
Money multiplier: The money multiplier is the amount by which the money supply changes due to a change in the monetary base.
Money multiplier = 1 / Reserve ratio = 1 / 0.08 = 12.5.
Money supply: The amount of money supply is calculated as follows:
Money supply = Currency + Checkable deposits = 800 + 1000 = $1,800 billion.
b. Predict the effect of an open market sale of bonds worth $30 billion on the money supply, assuming the ratios calculated in part (a) remain the same. The effect of open market operations can be estimated using the following formula: Change in Money supply = Change in Monetary base × Money multiplier. Change in Monetary base = -30 (- sign shows the sale of bonds).Change in money supply = -30 x 12.5 = -375.
The change in the money supply is -375 billion dollars. As a result, the money supply falls from $1,800 billion to $1425 billion. c. Determine the excess reserve ratio, money supply, and money multiplier when the same open market sale is conducted by the central bank, and banks use their excess reserves to buy bonds.
As a result, the following calculations are made: Excess reserve ratio = Excess reserves / Total deposits = 20/1000 = 0.02.Money multiplier = 1 / Reserve ratio = 1 / 0.08 = 12.5.Money supply = Currency + Checkable deposits = 800 + 970 = $1,770 billion.
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A big temple trust wants to develop a big hospital management system for their hospital management system. This problem highlights the importance of the 4+1 Views Model and the answers should emphasize this theory A. A Systems Engineer would be interested in which view? B. Identify the top-level system processes and how they communicate. C. Draw the high-level UML diagram for the system. D. Briefly state how you would measure one of the dynamic elements in this system.
The 4+1 View Model is a software architecture description language used to illustrate the architecture of a software-intensive system and addresses the critical aspects of architecture by providing five viewpoints to capture the system's architecture: the logical view, the physical view, the process view, the development view, and the scenario view.
The logical view illustrates the functionality that the system provides to end-users and how the system implements that functionality. The physical view shows the hardware on which the system is deployed, as well as how the components of the system are mapped to that hardware. The process view depicts the system from a concurrency or threading perspective. The development view indicates the system's development organization, such as which teams are responsible for which parts of the system. Finally, the scenario view illustrates how the system performs a few of its most crucial or common scenarios. Therefore, in order to implement a large hospital management system, the 4+1 views model is very significant.
A. The systems engineer would be interested in the Process View because it depicts the system from a concurrency or threading perspective. For instance, they would want to know the primary processes, thread mechanisms, and how data communication occurs.
B. The top-level system processes that must be identified and how they communicate are:• Access control• Patient scheduling• Pharmacy• Outpatient scheduling• Inpatient scheduling• Billing• Patient registration• Reports
C. A high-level UML diagram would include the following:• Use case diagrams: It identifies and defines all of the user's system interactions.• Class diagrams: It outlines the system's object-oriented structure, as well as how objects interact with one another.• Sequence diagrams: It depicts how objects communicate with one another to accomplish a specific task.• State machine diagrams: It shows how objects pass through several states before achieving a particular goal.• Activity diagrams: It depicts the flow of control through a system and the workflows necessary to accomplish a specific task.
D. One of the dynamic elements in this system can be measured by using Performance Metrics. Performance metrics assess how well the system performs in terms of time, memory usage, storage capacity, and other factors. They can measure how efficiently the system handles various types of operations, such as registering patients, prescribing medications, generating reports, and others. Therefore, performance metrics can be used to measure the dynamic elements of the hospital management system.
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6. Assume you are age 78. You plan on living to age 100. If you have $725,000 on which you can earn an APR of 6.25%, how much can you take out per month in order to completely exhaust your savings in 22 years assuming monthly compounding?
Can you please show how to do in excel
pv
fv
nper
pmt
rate
To solve the given problem, we need to calculate the monthly payment (PMT) required to withdraw from the savings in order to exhaust the entire savings in 22 years given the present value (PV), future value (FV), interest rate (rate) and the number of payments (nper) in Excel.
Let us define the given terms first.PV = $725,000 (present value)APR = 6.25%Rate = APR/12 = 0.0625/12 (monthly interest rate)Nper = 22 * 12 = 264 months (number of months in 22 years)FV = 0 (the savings will be exhausted)PMT = The amount to be calculated using Excel FormulaTo calculate the monthly payment using the PMT function in Excel, follow these steps:Select an empty cell in Excel where you want to display the monthly payment.Enter the formula "=PMT(rate,nper,pv,[fv],[type])".Enter the values for the variables in the formula. The values should be in the order given in the formula. For the given problem, the formula will be "=PMT(0.0625/12,264,725000,0,0)"Press enter. The calculated value of monthly payment will be displayed in the cell.
Therefore, the monthly payment required to withdraw from the savings in order to exhaust the entire savings in 22 years given the present value (PV), future value (FV), interest rate (rate) and the number of payments (nper) in Excel is $6,304.45 (approx).
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Which one of the following is probably the best suggestion for stretching your retirement income?
a) Skip leisure activities
b) Cut your food expenditures
c) Cancel your life and property insurance
d) Use your skills and time instead of your money
e) Get rid of your health insurance
The following is probably the best suggestion for stretching the retirement income: Use the skills and time instead of the money. The correct option is D.
Engaging in activities that rely on a person's skills and time rather than spending money on expensive leisure activities can help in saving money. For example, instead of going on expensive vacations, you could explore free or low-cost local attractions, pursue hobbies that don't require significant financial investment, or participate in community events. By using your skills, you may have opportunities to generate additional income during retirement.
Thus, the ideal selection is option D.
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