Answer: understand the position of their competitors.
Explanation:
For any company to strive in a particular environment, it is vital for an organization to always look out for its competitors and look for ways to have a competitive edge over them. This is vital in generation of revenue, maximization of profit and achieving organizational goals and objectives.
Therefore, with regards to the question, best positioning their service within this community, they must next understand the position of their competitors.
Melinda is excited about working on her financial plan. She has taken the time to look at all of her current resources, accounts, and investments. She also has identified some short- and long-term financial goals. What should Melinda do NEXT to continue her steps in the financial planning process?
Answer:
Melinda should save and invest for the short term as well as long term goal as she planned.
Explanation:
Financial planning is very important for a stable future in terms of finance and monetary matters. Financial planning may be defined as the process that will reduce the stress about the finances, helps to support the current needs. It also helps to build or save money for a long term goal. Financial planning is very important as it allows one to make the most use of one's assets, and also ensures one to meet their future goals.
In the context, Melinda is making a financial plan. She had looked over all her her current resources and investments and also made some long term and short term goal which will help her better plan for the future.
Once Melinda had identified her goal, she needs to act on it as soon as possible and contribute or save some money according to the plans. She should invest in the plans in order to support her long term goals.
Answer:
its A decide what her biggest financial risks are\
Explanation:
This information relates to Novak Real Estate Agency.
Oct. 1 Stockholders invest $33,600 in exchange for common stock of the corporation.
2 Hires an administrative assistant at an annual salary of $36,480.
3 Buys office furniture for $3,780, on account.
6 Sells a house and lot for E. C. Roads; commissions due from Roads, $12,290 (not paid by Roads at this time).
10 Receives cash of $145 as commission for acting as rental agent renting an apartment.
27 Pays $670 on account for the office furniture purchased on October 3.
30 Pays the administrative assistant $3,040 in salary for October.
Jounalize the transactions. ( no entry is required, select "No entry" for the account titles and enter 0 for the amounts amount is entered. Do not indent manually, Record journal entries in the order presented in the problem.
Answer:
She journal entry below
Explanation:
Oct 1. Cash. DR $33,600
To Common stock $33,600
(Being cash received in exchange of common stock that is recorded
Oct 2. No journal entry is required
Oct 3. Equipment Dr $3,780
To Accounts payable $3,780
(Being equipment that is recorded)
Oct 6. Accounts receivables $12,290
To Service revenue. $12,290
(Being service revenue that is recorded)
Oct 10. Cash Dr. $145
To service revenue $145
(Being cash that is recorded)
Oct 27. Accounts payable Dr $670
To cash. Cr $670
(Being accounts payable that is recorded)
Oct 30. Salaries and wages Dr $3,040
To Cash. $3,040
(Being salaries and wages that is recorded)
A team made up of employees from about the same hierarchical level, but different
functional areas of an organization is called a:
O A. cross-functional team
There are different kinds of team. A team made up of employees from about the same hierarchical level, but different functional areas of an organization is called a cross-functional team.
Cross-functional teams are known to be a kind of team that is made up of members who has different areas of expertise but they share a common goal.
This teams is composed of employees that arise from about the same hierarchical level but they have different work areas but they do come together to accomplish a task.
Example are; marketing, product, sales, customer success etc.
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Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31: Account Titles Debit Credit Cash $ 42,000 Accounts receivable 11,600 Supplies 900 Prepaid insurance 800 Service trucks 19,000 Accumulated depreciation $ 9,200 Other assets 8,300 Accounts payable 3,000 Wages payable Income taxes payable Note payable (3 years; 10% interest due each December 31) 17,000 Common stock (5,000 shares outstanding) 400 Additional paid-in capital 19,000 Retained earnings 6,000 Service revenue 61,360 Remaining expenses (not detailed; excludes income tax) 33,360 Income tax expense Totals $ 115,960 $ 115,960 Data not yet recorded at December 31 included: The supplies count on December 31 reflected $300 in remaining supplies on hand to be used in the next year. Insurance expired during the current year, $800. Depreciation expense for the current year, $3,700. Wages earned by employees not yet paid on December 3, $640. Income tax expense, $5,540.
Data not yet recorded at December 31 included:_____.
The supplies count on December 31 reflected $300 in remaining supplies on hand to be used in the next year.
Insurance expired during the current year, $800.
Depreciation expense for the current year, $3,700.
Wages earned by employees not yet paid on December 3, $640.
Income tax expense, $5,540.
Problem: Prepare an income statement and a classified balance sheet that include the effects of the preceding five transactions.
Answer:
try your best and try hard don't matter what
Give account of the political argument against outsourcing practiced by US firms.
Answer:
The political argument against outsourcing practiced by U.S. firms can be summarized in three arguments:
Explanation:
The trade balance argument: this factor is both economic and political, and those who agree with it argue that outsourcing contributes to the decline of American exports while raising the amount of imports at the same time, since those goods and services produced abroad by outsourcing have to be imported to the U.S. if they are to be consumed by American consumeres.
The American worker argument: outsourcing creates a job loss in the U.S. that affects American workers, specially those without a tertiary education. Those who agree with this argument state that outsourcing increases economic inequality, urban decay, rates of mental disease and drug use, and so on.
The national security argument: this argument applies to specific industries like the weapon industry or pharmaceutical. Supporters of this argument say that there are several industries and economic sectors that should not be outsourced on the basis of national security.
Firms use economic analyses to better understand the overall outlook for the economy and how economic changes will impact the firm.
a. True
b. False
Answer:
True.
Explanation:
It is a true statement.
The firm economic result that is, financial performance depends upon various factors that includes external forces also.
Further, to remain in industry ( or for stable growth ), the firm have to synchronize their activities with the environment.
The question specifies economic environment that relatively impact the firm. So , this statement is true.
Affordable Lawn Care, Inc., provides lawn mowing services to both commercial and residential customers. The company performs adjusting entries on a monthly basis, whereas closing entries are prepared annually at December 31. An adjusted trial balance dated December, current year follows
Affordable Lawn Care, Inc.
Adjusted Trial Balance
December 31, current year
Debit Credits
Cash…………………………………………… $117,050
Accounts receivable……………………………. 9,600
Unexpired insurance…………………………. 16,000
Prepaid rent………………………………………. . 6,000
Supplies………………………………………….. 2,150
Trucks…………………………………………… 300,000
Accumulated depreciation: truck $240,000
Mowing equipment………………………. 40,000
Accumulated depreciation: mowing equipment 24,000
Accounts payables……………………………. 3,000
Notes payables………………………….................................................... 100,000
Salaries payables……............................................................................. 1,800
Interest payables…………………............................................................ 300
Income taxes payables........................................................................ 2,100
Unearned mowing revenue……........................................................ 1,800
Capital Stock............................................................................................. 40,000
Retained earnings…… ........................................................................... 60,000
Dividends……………………… 10,000
Mowing revenue earned………………..................................................... 340,000
Insurance expense………………. 4,800
Office rent expense………………….. 72,000
Supplies expense…………………….. 10,400
Salary expense………………………….. 120,000
Depreciation expense: truck……….. 60,000
Depreciation expense: mowing equipment 8,000
Repair and maintenance expense………. 6,000
Fuel expense………………………………… 3,000
Miscellaneous expense………………… 10,000
Interest expense……………………………. 6,000
Income taxes expense……………….. 12,000
$813,000 $813,000
1. Prepare an income statement and statement of retained earnings for the year ended December 31, current year. Also prepare the company’s balance sheet dated December 31, current year
2. Prepare the necessary year end closing entries
3. Prepare an after closing trial balance
4. Using the financial statement prepared in part a, briefly evaluate the company’s profitability and liquidity
Answer:
Affordable Lawn Care, Inc.
1. Income Statement for the year ended December 31,
Mowing revenue earned $340,000
Insurance expense $4,800
Office rent expense 72,000
Supplies expense 10,400
Salary expense 120,000
Depreciation expense: truck 60,000
Depreciation expense: mowing equipment 8,000
Repair and maintenance expense 6,000
Fuel expense 3,000
Miscellaneous expense 10,000
Total operating expenses $294,200
Operating income $45,800
Interest expense 6,000
Income before taxes $39,800
Income taxes expense 12,000
Income after taxes $27,800
Statement of Retained Earnings for the year ended December 31,
Retained earnings $60,000
Income after taxes 27,800
Dividends 10,000
Retained earnings, December 31 $77,800
Balance Sheet as of December 31
Assets
Current Assets:
Cash $117,050
Accounts receivable 9,600
Unexpired insurance 16,000
Prepaid rent 6,000
Supplies 2,150
Total current assets $150,800
Long-term assets:
Trucks 300,000
Accumulated depreciation: truck 240,000 60,000
Mowing equipment 40,000
Accumulated depreciation:mowing 24,000 16,000
Total long-term assets $76,000
Total assets $226,800
Liabilities + Equity
Liabilities:
Accounts payables $3,000
Notes payables 100,000
Salaries payables 1,800
Interest payables 300
Income taxes payables 2,100
Unearned mowing revenue 1,800
Total liabilities $109,000
Equity:
Capital Stock $40,000
Retained earnings 77,800
Total Equity 117,800 $117,800
Total liabilities and equity $226,800
2. Closing Journal Entries:
Debit Credits
Cash $117,050
Accounts receivable 9,600
Unexpired insurance 16,000
Prepaid rent 6,000
Supplies 2,150
Trucks 300,000
Accumulated depreciation: truck $240,000
Mowing equipment 40,000
Accumulated depreciation: mowing equipment 24,000
Accounts payables 3,000
Notes payables 100,000
Salaries payables 1,800
Interest payables 300
Income taxes payables 2,100
Unearned mowing revenue 1,800
Capital Stock 40,000
Retained earnings 77,800
To close the permanent accounts to the current financial period.
3. After Closing Trial Balance as of January 1:
Debit Credits
Cash $117,050
Accounts receivable 9,600
Unexpired insurance 16,000
Prepaid rent 6,000
Supplies 2,150
Trucks 300,000
Accumulated depreciation: truck $240,000
Mowing equipment 40,000
Accumulated depreciation: mowing equipment 24,000
Accounts payables 3,000
Notes payables 100,000
Salaries payables 1,800
Interest payables 300
Income taxes payables 2,100
Unearned mowing revenue 1,800
Capital Stock 40,000
Retained earnings 77,800
Totals $490,800 $490,800
4. Evaluation of company's profitability and liquidity:
Profitability:
Net Income Margin = 8.18%
Operating margin = 13.47%
These two ratios show that more than 5% of the company's revenue was spent on interest and taxes.
Liquidity:
Current Ratio = 1.38
Quick Ratio = 1.07
The company is liquid and can meet its current maturing liabilities with its current assets. The quick ratio is based on Cash only given the nature of the business.
Explanation:
a) Data and Calculations:
Affordable Lawn Care, Inc.
Adjusted Trial Balance
December 31, current year
Debit Credits
Cash $117,050
Accounts receivable 9,600
Unexpired insurance 16,000
Prepaid rent 6,000
Supplies 2,150
Trucks 300,000
Accumulated depreciation: truck $240,000
Mowing equipment 40,000
Accumulated depreciation: mowing equipment 24,000
Accounts payables 3,000
Notes payables 100,000
Salaries payables 1,800
Interest payables 300
Income taxes payables 2,100
Unearned mowing revenue 1,800
Capital Stock 40,000
Retained earnings 60,000
Dividends 10,000
Mowing revenue earned 340,000
Insurance expense 4,800
Office rent expense 72,000
Supplies expense 10,400
Salary expense 120,000
Depreciation expense: truck 60,000
Depreciation expense: mowing equipment 8,000
Repair and maintenance expense 6,000
Fuel expense 3,000
Miscellaneous expense 10,000
Interest expense 6,000
Income taxes expense 12,000
Totals $813,000 $813,000
b) Profitability and Liquidity Ratios:
Profitability:
Net Profit Margin = Net Income/Revenue * 100 = 27,800/340,000 * 100 = 8.18%
Operating Profit Margin = Operating Income/Revenue * 100 = 45,800/340,000 * 100 = 13.47%
Liquidity Ratios:
Current ratio = Current Assets/Current Liabilities = 150,800/109,000 = 1.38
Quick Ratio = Cash/Current Liabilities = 117,050/109,000 = 1.07
Affordable Lawn Care, Inc.
Answer 1:
Income Statement for the year ended December 31,
Dr. Cr.
Mowing revenue earned $340,000
Insurance expense $4,800
Office rent expense 72,000
Supplies expense 10,400
Salary expense 120,000
Depreciation expense: truck 60,000
Depreciation expense: mowing equipment 8,000
Repair and maintenance expense 6,000
Fuel expense 3,000
Miscellaneous expense 10,000
Total operating expenses $294,200
Operating income $45,800
Interest expense 6,000
Income before taxes $39,800
Income taxes expense 12,000
Income after taxes $27,800
Statement of Retained Earnings for the year ended December 31,Retained earnings $60,000
Income after taxes 27,800
Dividends 10,000
Retained earnings, December 31 $77,800
Balance Sheet as of December 31
Assets
Current Assets:
Cash $117,050
Accounts receivable 9,600
Unexpired insurance 16,000
Prepaid rent 6,000
Supplies 2,150
Total current assets $150,800
Long-term assets:
Trucks 300,000
Accumulated depreciation: truck 240,000 60,000
Moving equipment 40,000
Accumulated depreciation:mowing 24,000 16,000
Total long-term assets $76,000
Total assets $226,800
(Liabilities + Equity)
Liabilities:
Accounts payables $3,000
Notes payables 100,000
Salaries payables 1,800
Interest payables 300
Income taxes payables 2,100
Unearned mowing revenue 1,800
Total liabilities $109,000
Equity:
Capital Stock $40,000
Retained earnings 77,800
Total Equity 117,800 $117,800
Total liabilities and equity $226,800
Answer 2:
Closing Journal Entries:
Debit Credits
Cash $117,050
Accounts receivable 9,600
Unexpired insurance 16,000
Prepaid rent 6,000
Supplies 2,150
Trucks 300,000
Accumulated depreciation: truck $240,000
Mowing equipment 40,000
Accumulated depreciation: mowing equipment 24,000
Accounts payables 3,000
Notes payables 100,000
Salaries payables 1,800
Interest payables 300
Income taxes payables 2,100
Unearned mowing revenue 1,800
Capital Stock 40,000
Retained earnings 77,800
To close the permanent accounts to the current financial period.
Answer 3:
After Closing Trial Balance as of January 1:
Debit Credits
Cash $117,050
Accounts receivable 9,600
Unexpired insurance 16,000
Prepaid rent 6,000
Supplies 2,150
Trucks 300,000
Accumulated depreciation: truck $240,000
Mowing equipment 40,000
Accumulated depreciation: mowing equipment 24,000
Accounts payables 3,000
Notes payables 100,000
Salaries payables 1,800
Interest payables 300
Income taxes payables 2,100
Unearned mowing revenue 1,800
Capital Stock 40,000
Retained earnings 77,800
Totals $490,800 $490,800
Answer 4:
Evaluation of the company's profitability and liquidity:
Profitability:
Net Income Margin = 8.18%
Operating margin = 13.47%
These two ratios show that more than 5% of the company's revenue was spent on interest and taxes.
Liquidity:
Current Ratio = 1.38
Quick Ratio = 1.07
The company is liquid and can meet its current maturing liabilities with its current assets. The quick ratio is based on Cash only given the nature of the business.
Working Notes:
Profitability and Liquidity Ratios:
Profitability:
Net Profit Margin = Net Income/Revenue * 100 = 27,800/340,000 * 100 = 8.18%
Operating Profit Margin = Operating Income/Revenue * 100 = 45,800/340,000 * 100 = 13.47%
Liquidity Ratios:
Current ratio = Current Assets/Current Liabilities = 150,800/109,000 = 1.38
Quick Ratio = Cash/Current Liabilities = 117,050/109,000 = 1.07
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The following events apply to Kate Enterprises:______.
Collected $16,200 cash for services to be performed in the future. Acquired $50,000 cash from the issue of common stock. Paid salaries to employees: $3,500 cash. Paid cash to rent office space for the next 12 months: $12,000. Paid cash of $17,500 for other operating expenses. Paid on accounts payable: $1,752. Paid cash for utilities expense: $804. Recognized $45,000 of service revenue on account. Paid a $2,500 cash dividend to the stockholders. Purchased $3,200 of supplies on account. Received $12,500 cash for services rendered. Recognized $5,200 of accrued salaries expense. Recognized $3,000 of rent expense. Cash had been paid in a prior transaction (see Event 4). Recognized $5,000 of revenue for services performed. Cash had been previously collected (see Event 1).
Required:
Identify each event as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Also identify the account that is to be debited and the account that is to be credited when the transaction is recorded.
Event No. Type of Event Account Debited Account Credited
1 AS Cash Common Stock
The first event is recorded as an example.
Answer:
Kate Enterprises
Event No. Type of Event Account Debited Account Credited
1 AS Cash Common Stock
2. AS Cash Service Revenue
3. AU Salaries Expense Cash
4. AE Prepaid Rent Cash
5. AU Other operating exp. Cash
6. AU Accounts payable Cash
7. AU Utilities Expense Cash
8. AS Accounts Receivable Service Revenue
9. AU Dividends Cash
10. AS Supplies Accounts Payable
11. AS Cash Service Revenue
12. AE Salaries Expense Salaries Payable
13. AE Rent Expense Rent Payable
14. AE Unearned revenue Earned Revenue
Explanation:
Asset source (AS) = increases an asset and a claim on the asset
Asset use (AU) = decreases an asset and a claim on the asset
Asset exchange (AE) = does not change the value of assets or claims
Claims exchange (CE) = decreases one claim account and decreases another.
These are the agents of the
organization.
A. Board of Directors
B. Bondholders
C. Managers
D. Managers
Answer:
bondholder I think it is the correct one
Answer:
It is correct but remove the D. Managers
On January 1, 2017, Ahmed Inc. loaned $316,837 to Cyrus Co. A zero-interest-bearing note (face amount, $400,000) was exchanged solely for cash; no other rights or privileges were exchanged. The note is to be repaid on December 31, 2020. The prevailing rate of interest for a loan of this type is 6%. What amount of interest expense will Cyrus recognize over the four years?
Answer:
the amount of interest expense for the four years is $76,041
Explanation:
The computation of the amount of interest expense for the four years is shown below:
= Loan amount × rate of interest × number of years
= $316,837 × 6% × 4 years
= $76,041
Hence, the amount of interest expense for the four years is $76,041
As the video showed, there are many people who are so concerned about the viability of banks, and indeed the entire financial system, that they are buying gold and silver coins instead of trusting their money to banks. However, the government provides protection from having bank accounts wiped out as they were during the Great Depression. The _____________ is an independent agency of the U.S. government that insures bank deposits (up to $250,000).
Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3% of net credit sales will be uncollectible. On January 1, theAllowance for Doubtful Accounts had a credit balance of $2,400. During the year, Abbott wrote off accounts receivable totaling $1,800 and made credit sales of $100,000.There were no sales returns or sales discounts during the year. After the adjusting entry, the December 31, balance in the Bad Debt Expense will be:________.
a. $1,200
b. $3,000
c. $3,600
d. $7,200
Answer:
b. $3,000
Explanation:
According to the above information, the following data are given
Credit sales = $100,000
Uncollectible percentage = 3%
So, after the adjustment by using allowance method, Bad debt expense can be calculated as;
Bad debt expense = Credit sales × Uncollectible percentage
= $100,000 × 3%
= $3,000
The weekly time tickets indicate the following distribution of labor hours for three direct labor employees:
Hours
Job 301 Job 302 Job 303 Process Improvement
Tom Couro 10 15 13 2
David Clancy 12 12 14 2
Jose Cano 11 13 15 1
The direct labor rate earned per hour by the three employees is as follows:
Tom Couro $32
David Clancy 36
Jose Cano 28
The process improvement category includes training, quality improvement, and other indirect tasks.
a. Journalize the entry to record the factory labor costs for the week.
b. Assume that Jobs 301 and 302 were completed but not sold during the week and that Job 303 remained incomplete at the end of the week. How would the direct labor costs for all three jobs be reflected on the financial statements at the end of the week?
Answer:
A) attached below
B)
= $ 2336 will reflect as the direct cost at the end of the week
Explanation:
Attached below is a detailed solution
A) Journalize the entry to record the factory labor cost for the week
attached below
B) Assuming jobs 301 and 302 were completed but not sold during the week and Job 303 remained incomplete at the end of the week
productive hours worked on Jobs 301 and 302
Tom : 10 + 15 = 25 hours
David : 12 + 12 = 24 hours
Jose : 11 + 13 = 24 hours
productive hours worked on job 303 = uncomplete
Direct labor cost at the end of the week
= ( 25 * 32 ) + ( 24 *36 ) + ( 24 *28 )
= $ 2336 will reflect as the direct cost at the end of the week
define the term feasibility study
Answer: An evaluation of the practicality of a suggested project or framework is a feasibility study. A feasibility study attempts to discover the benefits and limitations of an ongoing study critically and rationally.
I hope this helped :)
Functions of money and barterConsider an economy in which money does not exist, so that agents rely on barter to carry out transactions. When the economy was small, barter seemed sufficient. However, the economy has now begun to grow.If people in this economy trade three goods, the price tag of each good must list ______________?prices, and the economy requires____________?prices for people to carry out transactions.Suppose that the number of goods people trade increases to 15. Then the price tag of each good must list _________?prices, and the number of prices that the economy requires increases to____________?Now suppose that our economy has a money. The government now issues a national currency and there is no longer any barter.In this economy, money and currency are not the same because:1. The fact that the government issues currency means that the currency will be accepted as money by all agents.2. The fact that the currency is backed by the government means that it will never lose value and will remain a perfect unit of account.3. Just because the government issues currency does not mean that the currency will be accepted as money, since it must be used as a medium of exchange, store of value and standard of value.4. Just because the government issues currency does not mean that the currency will be accepted as money, and buyers and sellers still need barter to ensure that money does not lose its value.Suppose now that our economy is suffering from rapid, ongoing increases in the cost of living. Which characteristic of money is directly negatively impacted in that economy?1. Medium of exchange2. Double coincidence of wants3. Store of value4. Unit of account
Answer:
Money and Barter System
a. 9 prices
b. 9 prices
c. 225 prices
d. 225
e. 2. The fact that the government issues currency means that the currency will be accepted as money by all agents.
f. The characteristic or quality of money that is directly negatively impacted in that economy by the rapid, ongoing increases in the cost of living is the:
3. Store of value.
Explanation:
Before the governments started to mint money or currency, the barter system was the system of exchanging goods and services between two people. The barter system relied on the exchange of goods and services that were required by one person if she could find another person who possessed the goods or services and was willing to accept or actually needed the goods or services that the first person had. The exchange system was complicated, involving the location of the other party in the barter transaction.
Azus is an international food products company with subsidiaries in many countries. It employs host-country nationals extensively in each of its foreign locations. The corporate human resources (HR) function in Azus focuses primarily on coordinating relevant activities with their counterparts in each foreign location. Each subsidiary has its own fully functioning HR department that is responsible for managing all local HR issues for lower- and upper-level employees. In the given scenario, which of the following staffing models does Azus employ?
A) Regiocentric staffing model
B) Polycentric staffing model
C) Ethnocentric staffing model
D) Geocentric staffing model
Answer: Polycentric staffing model
Explanation:
The staffing model employed by Azus is the polycentric staffing model. This is an approach whereby the nationals of a particular country are employed in the central offices while foreigners are employed into their subsidiaries overseas. The foreigner are locals in their countey.
The advantages are that hiring locals are less costly and can improve employee morale and increase in productivity.
1. XYZ Co. incurred the following costs related to the office building used in operating its sports supply company: a. Replaced a broken window. b. Replaced the roof that had been on the building 23 years. c. Serviced all the air conditioners before summer started. d. Replaced the air conditioners with refrigerated air conditioners in the customer service areas. e. Added a warehouse to the back of the building. f. Repaint the interior walls. g. Installed window shutters on all windows. Classify each of the costs as a capital expenditure or a revenue expenditure. For those costs identified as capital expenditures, classify each as an additional or replacement component.
Answer:
2,4,5,7
Explanation:
Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided not to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the
Answer:
combined target market approach
Explanation:
When a company engages in a combined target market approach, it segregates potential markets into pairs or small groups which share similarities and then offers their products or services to them. The marketing mix will be similar for all the small segments that are within the larger group.
An organization expresses its reason for being, what it aspires to be, and the values it wants to emphasize in its mission, vision, and values statements, respectively. This activity is important because these three statements are the necessary foundation for a successful organizational planning process. Read the descriptions and select whether the description pertains to a mission, vision, or value statement.
a. Describes the image the organization wants to project
b. Inspires enthusiasm and encourages commitment
c. Illuminates the organization’s attitude toward its employees
d. Is intended to guide all of the actions in the organization
Answer:
Explanation:
Each one of these are aspects of a company that each demonstrate something different of the company. A compan's mission is basically its ethics, cultures, and values. A company's vision is where they see themselves in the future in terms of the company they want to become. A company's value statement is it's core beliefs and priorities. That being said the following statements would be classified as follows...
a. Describes the image the organization wants to project - Vision
b. Inspires enthusiasm and encourages commitment - Vision
c. Illuminates the organization’s attitude toward its employees - Mission
d. Is intended to guide all of the actions in the organization - Value Statement
What does zero economic profit mean in a perfectly competitive market in the long run?
Required information SB Exercise 6-14 through Exercise 6-15 (Static) Skip to question [The following information applies to the questions displayed below.] Chuck Wagon Grills, Inc., makes a single product—a handmade specialty barbecue grill that it sells for $210. Data for last year’s operations follow: Units in beginning inventory 0 Units produced 20,000 Units sold 19,000 Units in ending inventory 1,000 Variable costs per unit: Direct materials $ 50 Direct labor 80 Variable manufacturing overhead 20 Variable selling and administrative 10 Total variable cost per unit $ 160 Fixed costs: Fixed manufacturing overhead $ 700,000 Fixed selling and administrative 285,000 Total fixed costs $ 985,000 Exercise 6-15 (Static) Absorption Costing Unit Product Cost and Income Statement [LO6–1, LO6–2]
Required:
1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
2. Assume that the company uses absorption costing. Prepare an income statement for last year.
Answer:
Results are below.
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
First, we need to calculate the unitary cost under absorption costing:
Unitary varaible production cost= 50 + 80 + 20= $150
Unitary fixed cost= 700,000/20,000= $35
Total unitary cost= $185
Now, we the income statement:
Sales= 19,000*210= 3,990,000
COGS= (19,000*185)= (3,515,000)
Gross profit= 475,000
Total selling and administrative= (285,000 + 10*19,000)= (475,000)
Net operating income= 0
Scenario:
B. Paul and his wife are investigating the possibility of starting a new restaurant in Beaufort, a small town in the South Carolina low country. It has been Paul's lifelong dream. Paul has won a lottery and is trying to decide if this is what he wants to do with the prize money. He decides to do an analysis of the competitive environment. After his analysis, he discovers several important issues. First, it will cost most of Paul's lottery winnings to finance a restaurant in Beaufort. Second, it will be difficult to attract new customers because they have so many eating choices available to them in Beaufort and the surrounding towns. Finally, the competition in the restaurant industry is considered fierce by industry analysts and this is frightening to someone like Paul, who has never worked in that industry. Which of the following factors would Paul have considered while analyzing the competitive environment?
a. technology
b. substitutes
c. legal factors
d. economic factors
e. demographics The information that Paul has collected in his competitive analysis can be referred to as:______.
a. corporate espionage.
b. competitive intelligence.
c. domain selection.
d. strategic vision
e. mission statement
Answer:
b. substitutes
b. competitive intelligence.
Explanation:
In the context, Paul and his wife wishes to open up a new restaurant in Beaufort and did much of analysis and research before taking any decision and studying the restaurant industry market.
The factor that Paul have considered in analyzing the competitive environment is the substitutes. The competitive environment as described by Michael Porter includes customers, substitutes, suppliers, new entrants, compliments and other rival firms.
The information Paul has collected in the competition analysis can be referred to -- competitive intelligence.
Competitive intelligence may be defined as the information that is necessary in deciding how best to manage in the competitive environment that the managers have identified.
The most recent financial statements for Alexander Co. are shown here: Income Statement Balance Sheet Sales $ 43,700 Current assets $ 17,980 Long-term debt $ 37,320 Costs 35,800 Fixed assets 68,600 Equity 49,260 Taxable income $ 7,900 Total $ 86,580 Total $ 86,580 Taxes (21%) 1,659 Net income $ 6,241 Assets and costs are proportional to sales. The company maintains a constant 45 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum dollar increase in sales that can be sustained assuming no new equity is issued
A motorcycle worth Rs.29500 was sold at a loss of 40% after an accident.Find the loss and selling price.
Answer:
the selling price and the loss is Rs 73,750 and Rs 29,500 respectively
Explanation:
The computation of the loss and selling price is shown below:
The selling price is
= Rs 29,500 × 1 ÷ 0.40
= Rs 73,750
And, the loss is
= Rs 73,750 × 40%
= Rs 29,500
Hence, the selling price and the loss is Rs 73,750 and Rs 29,500 respectively
discuss three types of elasticity of demand with various exa
mples
Answer:
Perfectly Elastic Demand
Perfectly Inelastic Demand
Relatively Elastic Demand
Relatively Inelastic Demand
Explanation:
the liability created when supplies are bought on account is called an account payable ,true or false
Answer:
True.
Explanation:
In Financial accounting, liability can be defined as the amount of money being owed by an individual or organization to another.
Simply stated, liability is a debt being owed and as such it usually has "payable" in its account title on the balance sheet.
Generally, liabilities are recorded on the right side of the balance sheet and it comprises of financial informations such as warranties, bonds, loans, deferred revenues, mortgages, account payable etc.
Current liability in financial accounting can be defined as the short-term financial obligation such as debt (account payable) that is due to be paid in cash within one (fiscal) year or one operating cycle of a company, whichever is longer.
A company's current liability comprises of the following; dividends payable, short-term debts, account payable, notes payable, interest payable, wages payable, deferred revenues, income tax payable, etc.
Basically, companies usually settles their current liabilities with current assets such as account receivables or cash, that are used up within a fiscal year.
Hence, the liability created when supplies are bought on account is called an account payable.
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A $25,000 bank loan is to be repaid in equal yearly payments of $2745 over 15 yr at an effective annual interest rate of 7%. The borrower uses the loan money to earn an annual effective return of 10% in the stock market. All money earned is kept in the stock fund. What is most nearly the present-day value of the earnings over 15 yr as a result of this loan and investment venture
Answer:
The present-day value of the earnings over 15 years as a result of this loan and investment venture is:
= $24,998.51.
Explanation:
a) Bank loan = $25,000
Annuity Payment = $2,745 yearly
Period of loan = 15 years
Effective annual interest rate = 7%
Effective annual return = 10%
Future value of $25,000 at 10% for 15 years = $25,000 * 4.1777
= $104,425
The present-day value of $104,425 over 15 years at 10% effective annual return, using an online financial calculator =
N (# of periods) = 15 years
I/Y (Interest per year) = 10 years
PMT (Periodic Payment) = 0
FV (Future Value) = $104,425
Results
PV = $24,998.51
Total Interest $79,426.49
The Steamboat Company began the month with 2,000 units in work in process which were 25% complete with respect to conversion costs. During the month, 10,000 units were started into production and the ending work in process consisted of 1,000 units which were 40% complete with respect to conversion costs. What was the number of equivalent units of production for conversion costs
Answer:
The number of equivalent units of production for conversion costs was 6,000 units
Explanation:
The 2,000 units at the beginning of the period is completed during the period and 10,000 units are started in the period.
Equivalent units of production = Completed Units + Portion of WIP completion at the end of the period )
Equivalent units of production = Completed Units + ( Numbers of units started in the period x Percentage of completed at the end of the period )
Where
Completed units = 2,000 units
Numbers of units started in the period = 10,000 units
Percentage of completed at the end of the period = 40%
Placing values in the formula
Equivalent units of production = 2,000 units + ( 10,000 units x 40% ) = 2,000 units + 4,000 units = 6,000 units
Brief summary of New York Yankees Revenue Plan
For Sports Management class.
Answer:
The Yankees were the lead investors in a group that included Amazon and Sinclair Broadcast Group that bought 80% of the YES Network from Walt Disney in August 2019. The enterprise value of the deal was $3.47 billion. Prior to the deal, the Yankees owned 20% of the regional sports network. Last summer, Disney agreed to sell off 21st Century Fox’s 22 regional sports networks to secure Justice Department approval of its acquisition of major 21st Century Fox assets. The Yankees launched YES, the most-watched regional sports network in the country, in 2002, and the original investors were the team, Goldman Sachs, Quadrangle Group, the owners of the New Jersey (now Brooklyn) Nets, and others. A minority stake in YES was sold to Fox in 2012, and Fox increased its stake to 80% in 2014. The valuation of the sale to Fox was over $4 billion (including $1.7 billion of debt), with the Yankees share valued at $4.2 billion and the remaining portion valued at $3.9 billion.
Explanation:
The 2014 balance sheet of Jordan’s Golf Shop, Inc., showed long-term debt of $6.2 million, and the 2015 balance sheet showed long-term debt of $6.45 million. The 2015 income statement showed an interest expense of $215,000. The 2014 balance sheet showed $610,000 in the common stock account and $2.5 million in the additional paid-in surplus account. The 2015 balance sheet showed $650,000 and $3 million in the same two accounts, respectively. The company paid out $610,000 in cash dividends during 2015. Suppose you also know that the firm’s net capital spending for 2015 was $1,470,000, and that the firm reduced its net working capital investment by $89,000. What was the firm’s 2015 operating cash flow, or OCF? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)
Answer:
$1,416,000
Explanation:
The computation of the operating cash flow is shown below:
But before that following calculations need to be done
Cash flow to creditors is
= Interest paid - Net new borrowing
= $215,000 - (LTD at end - LTD at beg)
= $215,000 - ($6,450,000 - 6,200,000)
= $215,000 - 250,000
–$35,000
Cash flow to stockholders = Dividends paid - Net new equity
Cash flow to stockholders = $610,000 – [(Common end + APIS end) - (Common beg + APIS beg)]
= $610,000 - [($650,000 + 3,000,000) - ($610,000 + 2,500,000)]
= $610,000 - ($3,650,000 - 3,110,000)
= $70,000
Here APIS denotes the additional paid-in surplus.
Cash flow from assets = Cash flow to creditors + Cash flow to stockholders
= -$35,000 + 70,000
= $35,000
Cash flow from assets = OCF - Change in NWC - Net capital spending
$35,000 = OCF - (-$89,000) - 1,470,000
= $35,000 - 89,000 + 1,470,000
= $1,416,000