B.is the correct answer: allowance for doubtful account $7,700, accounts receivable r.
1. cost of ending inventory (fifo): using the fifo (first-in, first-out) costing method, the cost of ending inventory is determined by assuming that the earliest purchases are the first ones to be sold.
calculation:
units sold: 115 sep-1 purchase: 32 units at $100 = $3,200
sep-3 purchase: 50 units at $106 = $5,300 sep-19 purchase: 25 units at $107 = $2,675
sep-26 purchase: 8 units (remaining from 32 units purchased) at $109 = $872 total cost of units sold: $3,200 + $5,300 + $2,675 + $872 = $12,047
cost of ending inventory: total cost of purchases - cost of units sold cost of ending inventory = $14,663 - $12,047 = $2,616
, the cost of ending inventory using the fifo costing system is $2,616. option c. 2,616 is the correct answer.
2. gross profit:
gross profit is calculated by subtracting the cost of goods sold (cogs) from the net sales.
calculation: net sales = $960,000
cogs = inventory purchased - ending inventory = $660,000 - $20,000
= $640,000 gross profit = net sales - cogs
= $960,000 - $640,000 = $320,000
, the gross profit for the month is $320,000. option b. 320,000 is the correct answer.
3. journal entry for sales returns (perpetual):
when a sales return occurs in a perpetual inventory system, the appropriate journal entry is as follows:
sales returns and allowances (contra-revenue) account: debit: sales returns and allowances - $500
credit: accounts receivable - $500
cost of goods sold (cogs) account: debit: cogs - $350
credit: inventory - $350
, b. is the correct answer: sales returns and allowances $500, accounts receivable $500, cogs $350, inventory $350.
4. write-off under allowance method: when a company decides to write off a specific account receivable using the allowance method, the entry is as follows:
allowance for doubtful accounts (contra-asset) account:
debit: allowance for doubtful accounts - $7,700 credit: accounts receivable - r.a. furniture - $7,700 a. furniture $7,700.
5. collection of a note receivable:
when a note receivable is collected on its maturity date, the entry is as follows:
cash account: debit: cash - $15,375 (principal amount + interest)
credit: note rece
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A mining company must choose between two mutually exclusive extraction projects, and each requires an initial outlay at t=0 of $13.5 million. Under Plan A, all the oil would be extracted in 1 year, producing a cash flow at t+1 of $19.8 million. Under Plan B. cash flows would be $3.8 million per year for 9 years. Estimate the crossover rate of the NPVs for Plans A and B. If the firm's WACC is 15% what is the NPV of the project you would recommend? 14.60%; $3.72 million 12.12%: $4.63 million 12.12% : $3.72 million 12.26%:$5.52 million 16.97%. $4.63 million
The crossover rate of the NPVs for Plans A and B is approximately 12.12%. The NPV of the recommended project, under the assumption of a WACC of 15%, is $4.63 million.
How to determine crossover rate and recommended NPV?The crossover rate refers to the discount rate at which the net present values (NPVs) of two projects are equal. In this case, we need to compare Plan A, which has a single cash flow of $19.8 million after one year, with Plan B, which has nine cash flows of $3.8 million each over nine years. By calculating the NPVs of both plans using the firm's weighted average cost of capital (WACC) of 15%, we can find the crossover rate. The NPV of the recommended project is also determined by calculating the NPV of the preferred plan. In this scenario, the NPV of the recommended project is $4.63 million.
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Homework 11 You are given the following model that describes the economy of Hypothetica. Consumption function: C = 100+ 0.8Yd Planned investment: 1 = $30 Government spending: G = $75 Exports: EX= $25 Imports: IM = 0.05Yd Disposable income: Y = Y-T Taxes: T = $40 Planned aggregate expenditure: AE =C+I+G+ EX - IM Definition of equilibrium income: Y = AE Equilibrium income in Hypothetica is $ (Enter) r your response as a whole number.)
The equilibrium income in Hypothetica is approximately $242 (rounded to the nearest whole number).
To find the equilibrium income in Hypothetica, we need to set the aggregate expenditure (AE) equal to the income (Y).
Given the following information:
Consumption function: C = 100 + 0.8Yd
Planned investment: I = $30
Government spending: G = $75
Exports: EX = $25
Imports: IM = 0.05Yd
Taxes: T = $40
We can express the aggregate expenditure as:
AE = C + I + G + EX - IM
Substituting the given values, we have:
AE = (100 + 0.8Yd) + 30 + 75 + 25 - 0.05Yd
Simplifying the equation:
AE = 230 + 0.75Yd - 0.05Yd
Since we are looking for equilibrium income, we set AE equal to Y:
Y = AE
Therefore, we have the equation:
Y = 230 + 0.75Yd - 0.05Yd
To find the equilibrium income, we solve for Y by isolating it on one side of the equation:
Y - 0.75Yd + 0.05Yd = 230
Combining like terms:
0.95Yd = 230
Dividing both sides by 0.95:
Yd = 230 / 0.95
Calculating the value:
Yd ≈ 242.11
Therefore, the equilibrium income in Hypothetica is approximately $242 (rounded to the nearest whole number).
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1)In incremental analysis,
a. only costs are analyzed.
b. only revenues are analyzed.
c. both costs and revenues may be analyzed.
d. both costs and revenues that stay the same between alternate courses of action will be analyzed.
In incremental analysis, both costs and revenues may be analyzed. Incremental analysis is a decision-making technique used to determine the financial impact of different options by examining the changes in costs and revenues between two alternatives.
This analysis allows managers to make informed decisions by comparing the costs and revenues of different courses of action. While both costs and revenues are important components of incremental analysis, it is crucial to note that only costs and revenues that change between the options being considered are analyzed. Costs and revenues that remain the same between the options are not considered in the incremental analysis. Therefore, managers can determine which alternative provides the most financial benefit by focusing on the costs and revenues that change. This analysis can help businesses make more informed decisions that positively impact their bottom line.
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For employees to react positively to a performance appraisal, it is important that they believe their supervisor is knowledgeable about the ratee's job and his/her performance. Supervisor job knowledge is an aspect of: adequate notice fair hearing judgment based on evidence all of the above none of the above
it is vital that supervisors have a comprehensive understanding of their employee's job responsibilities and performance to conduct effective performance appraisals. They must provide employees with adequate notice, a fair hearing, and use judgment based on evidence to ensure that the appraisal is objective and unbiased.
Performance appraisal is a formal process conducted to evaluate an employee's job performance and to identify areas that require improvement. Employees tend to react positively when they believe that their supervisor is competent and has adequate knowledge of their job responsibilities and performance. As a result, the supervisor's knowledge of the employee's job is critical for a positive performance appraisal.Supervisor job knowledge is an aspect of: all of the above.Supervisors play an essential role in performance appraisals. They are responsible for evaluating their employees' performance and providing feedback to ensure they remain motivated and engaged in their work. To be effective, supervisors must have a thorough understanding of their employees' job requirements, expectations, and responsibilities. This knowledge enables them to provide feedback that is relevant, constructive, and actionable.The supervisor's job knowledge plays a critical role in conducting fair performance appraisals. Knowledge of the employee's job is essential because it enables the supervisor to provide feedback based on evidence. Moreover, supervisors can provide adequate notice of the performance appraisal, ensuring that employees are aware of what is expected of them during the evaluation. Lastly, supervisors must use judgment based on evidence to evaluate their employee's performance to ensure that the appraisal is fair and objective.In conclusion, it is vital that supervisors have a comprehensive understanding of their employee's job responsibilities and performance to conduct effective performance appraisals. They must provide employees with adequate notice, a fair hearing, and use judgment based on evidence to ensure that the appraisal is objective and unbiased.
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A weakness in the Club of Rome's study entitled The Limits to Growth is that A. It assumed a declining investment rate. B. It assumed the rate of population growth would slow. OC. it assumed a constan
In 1972, the Club of Rome published a report called "The Limits to Growth," which explored the consequences of continued growth in the world's population and industry.
The study's primary conclusion was that if the population and economy continued to grow at current rates, natural resources would eventually be exhausted, resulting in economic collapse and a substantial decline in population. The report used computer models to simulate the global economy and make predictions about future population growth and resource use.
The weakness in the Club of Rome's report entitled "The Limits to Growth" is that it assumed a constant technology. The study did not take into account the likelihood of technological advancements that could improve resource efficiency and productivity, as well as the development of renewable energy sources.
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"Erna Company is expected to pay a dividend of $2.79 one year from today and $2.94 two years from today. The company’s sales in two years are expected to be $16,400,000. The company has a PS ratio of 1.97 times, and 531,000 shares outstanding. If the required return on the company’s stock is 12.3 percent, what is the current stock price?
a. 53.06
b. 7.08
c. 55.18
d. 48.25
e. 4.82"
To calculate the current stock price, we can use the price-to-sales (PS) ratio and the expected sales in two years, along with the expected dividends.
Dividend in one year: $2.79
Dividend in two years: $2.94
Sales in two years: $16,400,000
PS ratio: 1.97
Number of shares outstanding: 531,000
Required return: 12.3%
First, let's calculate the total dividends that will be paid in two years:
Total dividends = Dividend in one year + Dividend in two years
Total dividends = $2.79 + $2.94 = $5.73
Next, let's calculate the market capitalization using the PS ratio:
Market capitalization = PS ratio * Sales in two years
Market capitalization = 1.97 * $16,400,000 = $32,248,000
Now, we can calculate the stock price:
Stock price = Market capitalization / Number of shares outstanding
Stock price = $32,248,000 / 531,000 = $60.78
Therefore, the current stock price is $60.78, which is not among the options provided.
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Forever 21 is expected to pay an annual dividend of $3.42 per share in one year, which is then expected to grow by 8% per year. The required rate of return is 14%.
What is the current stock price if the annual dividend of $3.42 his about to be paid? (i.e. paid tomorrow or later today)
The current stock price of Forever 21 can be determined using the dividend discount model (DDM).
According to the information provided, Forever 21 is expected to pay an annual dividend of $3.42 per share in one year, which will then grow by 8% per year. The required rate of return for investors is 14%. By applying the DDM formula, we can calculate the current stock price.
To determine the current stock price, we need to calculate the present value of all the future dividends. The formula for the present value of a growing perpetuity is:
PV = D / (r - g),
where PV is the present value, D is the dividend, r is the required rate of return, and g is the growth rate.
In this case, the dividend in one year is $3.42, the required rate of return is 14%, and the growth rate is 8%. Plugging these values into the formula, we can calculate the present value:
PV = $3.42 / (0.14 - 0.08) = $3.42 / 0.06 = $57.
Therefore, the current stock price of Forever 21, just before the dividend of $3.42 is paid, is approximately $57 per share. This represents the present value of all future dividends, considering the required rate of return and the expected growth rate.
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Find the Effective Interest Rate 6% Compounded Quarterly 12% Compounded Monthly 18 % Compounded Continuously Payment Period Semi Annually Blank 1 % Blank 3% Blank 5 % Payment Period Monthly Blank 2 %
To find the effective interest rates for the given compounding periods and interest rates, we can use the following formulas:
For quarterly compounding: Effective Interest Rate = (1 + (Annual Interest Rate / Number of Compounding Periods)) ^ Number of Compounding Periods - 1
For monthly compounding: Effective Interest Rate = (1 + (Annual Interest Rate / Number of Compounding Periods)) ^ Number of Compounding Periods - 1
For continuous compounding: Effective Interest Rate = e^(Annual Interest Rate) - 1
Using these formulas, we can calculate the effective interest rates:
Quarterly compounding at 6%:
Effective Interest Rate = (1 + (0.06 / 4))^4 - 1
Effective Interest Rate ≈ 0.0614 or 6.14%
Monthly compounding at 12%:
Effective Interest Rate = (1 + (0.12 / 12))^12 - 1
Effective Interest Rate ≈ 0.1268 or 12.68%
Continuous compounding at 18%:
Effective Interest Rate = e^(0.18) - 1
Effective Interest Rate ≈ 0.1959 or 19.59%
Semi-annually at 1%:
Effective Interest Rate = (1 + 0.01)^2 - 1
Effective Interest Rate = 0.0201 or 2.01%
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Its a marketing question I did not know what subject to put. (true and false)
5. An individual who purchases products in bulk to be sold to end users could be considered a retailer. 6. Currently, influencer marketing is a tool used by less than half of US marketers. 7. Causal research is the least formal form of marketing research. 8. In a SWOT analysis, both strengths and opportunities are internal to the organization
The statement "An individual who purchases products in bulk to be sold to end users could be considered a retailer" is true.
The following is a breakdown of the given statements:5. An individual who purchases products in bulk to be sold to end users could be considered a retailer. (True)6. Currently, influencer marketing is a tool used by less than half of US marketers. (False)7. Causal research is the least formal form of marketing research. (False)8. In a SWOT analysis, both strengths and opportunities are internal to the organization. (False)In a SWOT analysis, strengths are internal to the organization, while opportunities are external opportunities that can benefit the organization. Causal research, on the other hand, is a formal form of marketing research. Finally, influencer marketing is a tool used by over 70% of US marketers.
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From the following information, prepare a Total Drs, Account as on 31st Dec., 1998: Debtors on 1-1-98 98,750 Bills Receivable received 42,500 Sales 3,64,000 Cash paid 1,000 Cash received 3,21,000 Discount allowed 12,500 Returns 1,800 Transfer to Bought Ledger 850 Bills dishonoured 7,500 The balances extracted from the Sales Ledger on 31-12-98 amounted to $ 93,000 and the company's Trial balance showed of $ 400. What conclusion would you draw from this difference?
To prepare the Total Drs (Debtors) Account as of December 31, 1998, we will summarize the transactions related to debtors during the year. Here's the calculation:
Opening balance of Debtors (January 1, 1998): $98,750
Add:
Bills Receivable received: $42,500
Sales: $364,000
Transfer to Bought Ledger: $850
Total Drs (Debtors) before adjustments: $506,100
Less:
Cash received: $321,000
Discount allowed: $12,500
Returns: $1,800
Bills dishonored: $7,500
Total Drs (Debtors) after adjustments: $163,300
Now, we need to account for the difference between the total Drs (Debtors) after adjustments ($163,300) and the balances extracted from the Sales Ledger on December 31, 1998 ($93,000). The difference is $70,300.
The conclusion we can draw from this difference is that there is a discrepancy between the sales ledger balance and the total debtors calculated. This could be due to various reasons such as errors in recording transactions, unrecorded sales, or misclassification of accounts. Further investigation and reconciliation are necessary to identify the cause of the discrepancy and correct the balances accordingly.
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You are consultant at large international consultancy ("PharmCons"), specialized in consulting firms in the pharmaceutical industry. PharmCons has its Asia-Pacific headquarter in Singapore. Dr. Lee, the CEO of a newly established Singaporean pharmaceutical firm ("SinPharm"), which owns the protected patent for vaccine for Dengue- fever, approaches PharmCons. He is an excellent biologist but he and his employees are not well trained in managerial economics. So he needs advise on how to "make the best out of his patent" in an economic sense. Your colleagues at PharmCons have already estimated the market demand function for the vaccine. The accountancy division of SinPharm provides information with respect to relevant production costs. The (inverse) demand for the vaccine is estimated as P = 301 – 4*Q. The marginal costs (MC) are equal to MC = 1 and fixed costs (FC) are equal to FC = 1,000. You are tasked to provide Dr. Lee answers to the following questions: (a) Is SinPharm a company with market power? Explain. (b) What is SinPharm's marginal revenue (MR) function? (c) What are the initial optimal Price and Quantity of SinPharm? Dr. Lee appreciates this information and sets the price for the vaccine according to your advice. But after a year he approaches your boss again. Dr. Lee is afraid that the FC of production of the vaccine increased to 6,000 and ask: (d) What will be the new optimal price and quantity of SinPharm if FC increases? (e) Has the increase in FC any implications for running the business?
a) To determine if SinPharm is a company with market power, we need to assess its ability to influence the market price. Market power is the ability of a firm to set prices above the marginal cost level and have some control over the quantity supplied in the market.
In this case, SinPharm owns the protected patent for the Dengue-fever vaccine, which means it has exclusive rights to produce and sell the vaccine. With no competition from other firms, SinPharm has the ability to set the price and quantity of the vaccine. Therefore, SinPharm does have market power.
(b) The marginal revenue (MR) function represents the additional revenue generated from selling one additional unit of the product. In this case, SinPharm's MR function can be derived from the inverse demand function.
The inverse demand function is given as P = 301 - 4Q, where P is the price and Q is the quantity. To find the MR function, we take the derivative of the inverse demand function with respect to quantity (Q):
MR = d(P)/d(Q) = 301 - 8Q
Therefore, SinPharm's marginal revenue (MR) function is MR = 301 - 8Q.
(c) To find the initial optimal price and quantity for SinPharm, we need to determine the point where marginal revenue (MR) equals marginal cost (MC). In this case, MC is constant and equal to 1.
Set MR equal to MC:
301 - 8Q = 1
Solving for Q:
8Q = 300
Q = 37.5
Substitute the value of Q back into the inverse demand function to find the price (P):
P = 301 - 4Q
P = 301 - 4(37.5)
P = 301 - 150
P = 151
Therefore, the initial optimal price for SinPharm is 151 and the optimal quantity is 37.5.
(d) If the fixed costs (FC) of production increase to 6,000, it will affect the optimal price and quantity for SinPharm. However, the marginal cost (MC) remains the same at 1.
To find the new optimal price and quantity, we need to equate MR and MC:
301 - 8Q = 1
Solving for Q:
8Q = 300
Q = 37.5
The quantity remains the same as in the initial scenario, as it is determined by the inverse demand function and not affected by fixed costs.
To find the new price (P), substitute the value of Q into the inverse demand function:
P = 301 - 4Q
P = 301 - 4(37.5)
P = 301 - 150
P = 151
Therefore, the new optimal price for SinPharm is still 151, and the optimal quantity remains at 37.5, despite the increase in fixed costs.
(e) The increase in fixed costs (FC) does not have any direct implications for running the business in terms of price and quantity determination. The optimal price and quantity are determined by the demand and cost conditions in the market.
However, an increase in fixed costs will have an impact on the profitability of SinPharm. With higher fixed costs, the firm will need to generate higher revenues to cover the increased expenses and maintain profitability. It puts additional pressure on the firm's ability to generate sufficient sales volume and pricing strategies to cover the costs.
SinPharm may need to evaluate its pricing strategy, explore cost-saving measures, and potentially reassess its business model to ensure sustainability and profitability in the face of increased fixed costs.
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Consider a 4-sector economy, the consumption spending is C = 500+0.75(Y-T), taxes are T = 10 + 0.2Y, and imports are M=0.2Y. Planned investment is lp=300, government spending is G=250, and exports are X=10. What is the slope of the planned aggregate expenditure (PAE) line? 0.4 0.5 0.3 0.6 O
The planned aggregate expenditure (PAE) line represents the total planned spending in the economy at different levels of real income (Y). To find the slope of the PAE line, we need to determine the relationship between changes in income and changes in planned spending.
The PAE is given by the equation PAE = C + I + G + X - M, where C represents consumption, I represents planned investment, G represents government spending, X represents exports, and M represents imports.
Substituting the given equations, we have PAE = (500 + 0.75(Y - T)) + 300 + 250 + X - (0.2Y).
Simplifying the equation, we get PAE = 1050 + 0.55Y - 0.2T + X.
Since T = 10 + 0.2Y and X = 10, we can further simplify the equation to PAE = 1050 + 0.55Y - 0.2(10 + 0.2Y) + 10.
Expanding and rearranging, we have PAE = 1060 + 0.15Y.
Comparing this equation with the standard form of a linear equation (y = mx + b), we can see that the slope of the PAE line is 0.15.
Therefore, the slope of the planned aggregate expenditure (PAE) line is 0.15.
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If the loanable funds market is in equilibrium, then we know that savings equals consumption. investment equals consumption. investment equals savings. real interest rate equals nominal interest rate. O government spending equals tax revenue.
If the loanable funds market is in equilibrium, then we know that investment equals savings. Hence, the correct option among the provided alternatives is "investment equals savings."In economics, the loanable funds market is a hypothetical market that shows how the supply and demand for loans (also known as credit) interact to establish the interest rate and the amount of borrowing that takes place.
The supply of loanable funds comes from people's savings, and the demand for loanable funds comes from people and businesses who want to borrow money to invest in capital projects. In equilibrium, the supply of loanable funds equals the demand for loanable funds.When the loanable funds market is in equilibrium, it indicates that the economy's resources are being used effectively. An equilibrium interest rate is the market-clearing rate, which balances the supply and demand for loanable funds. Therefore, the equilibrium interest rate balances the supply and demand for loanable funds.
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Over the past 5 weeks, demand for wine at Winston's Winery has been 2400, 1300, 2700, 1900, and 800 bottles. Winston has placed weekly orders for glass bottles of 2600, 1000, 3000, 2000, and 700 units. (10 Points) i. What is the variance of demand for Winston's Winery? ii. What is the variance of orders from Winston's Winery for glass bottles? iii. What is the bullwhip measure for glass bottles for Winston's Winery? iv. Is Winston's Winery providing an amplifying or smoothing effect? b) Century Outlet has total end-of-year assets of $10 million. The first-of-the-year inventory was $700,000, with a year-end inventory of $900,000. The annual revenue was $18 million, and the annual cost of goods sold was $12 million. The owner wants to evaluate his supply chain performance. Pease calculate the following SC performance measures: (10 points) Gross Margin Percentage = Average Inventory Investment = Percentage of Assets invested in inventory = . Inventory turnover = Weeks of supply =
a)
i. The variance of demand for Winston's Winery is 766,800 bottles.
ii. The variance of orders from Winston's Winery for glass bottles is 763,600 units.
iii. The bullwhip measure for glass bottles for Winston's Winery is 3.74.
iv. Winston's Winery is experiencing an amplifying effect.
i. To calculate the variance of demand, we need to find the average demand and then subtract each week's demand from the average, square the result, and calculate the average of the squared differences. The variance of demand is a measure of the dispersion or variability of the demand data points.
ii. Similarly, to calculate the variance of orders, we find the average order quantity and then calculate the squared differences between each week's order and the average. The variance of orders measures the variability in the ordering behavior of Winston's Winery.
iii. The bullwhip measure quantifies the amplification of demand variability as we move upstream in the supply chain. It is calculated as the variance of orders divided by the variance of demand. In this case, the bullwhip measure for glass bottles is 3.74, indicating a significant amplification of demand variability.
iv. An amplifying effect occurs when demand variability increases as we move upstream in the supply chain. In this case, the bullwhip measure greater than 1 suggests that Winston's Winery is experiencing an amplifying effect. This amplification can lead to inefficiencies, such as inventory imbalances and increased costs, within the supply chain.
b)
Gross Margin Percentage = (Revenue - Cost of Goods Sold) / Revenue * 100
Average Inventory Investment = (Beginning Inventory + Ending Inventory) / 2
Percentage of Assets invested in inventory = (Average Inventory Investment / Total Assets) * 100
Inventory turnover = Cost of Goods Sold / Average Inventory Investment
Weeks of supply = 52 weeks / Inventory turnover
These performance measures evaluate the efficiency and effectiveness of Century Outlet's supply chain operations, including profitability, inventory management, and asset utilization.
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7. Which of the following is NOT a government agency which involves in agriculture
A MARDI
B. FRIM
C. PLKN
D. RISDA
9. Which of the following is NOT true of the criteria for a region to be an optimum currency are (OCA) as described by Mundell?
A Should be exposed to similar sources of disturbances (common shocks)
B. The relative importance of these common shocks should be similar
(symmetric shocks)
C. Exchange rate stability
D. Countries should have similar responses to common shock (symmetric responses)
10. Which of the following is NOT the possible reason for the 1997 financial crisis
A Rising currency account deficit
B. Speculators attack
C. Overdependence on capital flight for economic growth
D. Low external debt and manageable debt service ratio
7. RISDA is NOT a government agency involved in agriculture.
Exchange rate stability is NOT a criterion for a region to be an optimum currency area (OCA) as described by Mundell.
Low external debt and manageable debt service ratio is NOT a possible reason for the 1997 financial crisis.
7. Among the options provided, RISDA is not a government agency involved in agriculture.
MARDI (Malaysian Agricultural Research and Development Institute), FRIM (Forest Research Institute Malaysia), and PLKN (National Service Training Program) are all government agencies in Malaysia associated with agriculture or related sectors.
According to the criteria for an optimum currency area (OCA) as described by Mundell, exchange rate stability is not explicitly listed as one of the criteria.
The key criteria include exposure to similar sources of disturbances (common shocks), similar relative importance of these common shocks (symmetric shocks), and similar responses to common shocks (symmetric responses).
Low external debt and manageable debt service ratio are not considered possible reasons for the 1997 financial crisis.
The crisis was primarily triggered by factors such as rising currency account deficits, speculative attacks on currencies, and overdependence on capital flight for economic growth.
It is crucial to note that these answers are based on the information provided in the question, and additional factors or context may impact the analysis of each situation in real-world scenarios.
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TRUE / FALSE. It only makes sense and is confirmed by the the NYS Penal Law that someone may use duress as a defense, even where the person that wants to use the defense, recklessly or negligently places him/herself in a situation in which it is probable that he/she will be subjected to duress.
TRUE It only makes sense and is confirmed by the NYS Penal Law that someone may use duress as a defense, even where the person that wants to use the defense, recklessly or negligently places him/herself in a situation in which it is probable that he/she will be subjected to duress.
The NYS Penal Law recognizes duress as a defense in certain circumstances. The defense can be used if the accused committed the crime as a result of being threatened with imminent physical harm or death. However, the defense may not be available if the accused recklessly or negligently placed themselves in a situation where they were likely to be subjected to duress.
The defense of duress is recognized by the NYS Penal Law and is available to defendants in certain circumstances. According to the law, a person may use duress as a defense if they committed the crime as a result of being threatened with imminent physical harm or death. In order to use this defense, the threat must be immediate and serious, and the accused must have had no other reasonable option but to commit the crime. However, there are some limitations to the duress defense. For example, the defense may not be available if the accused recklessly or negligently placed themselves in a situation where they were likely to be subjected to duress. In other words, if the accused voluntarily put themselves in a situation where they knew they were likely to be threatened or coerced into committing a crime, they may not be able to use duress as a defense.
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Gibson Company operates three segments. Income statements for the segments imply that profitability could be improved if Segment A were eliminated. GIBSON COMPANY Income Statements for Year 2 A B с Segment Sales $251,000 $251,000 $ 165,000 (121,000) Cost of goods sold (83,000) (85,000) Sales commissions (21,000) (29,000) (29,000) Contribution margin 23,000 139,000 137,000 (42,000) (35,000) General fixed operating expenses (allocation of president's salary) Advertising expense (specific to individual divisions) (31,000) 0 (5,000) (18,000) Net income (loss) $ (24,000) $ 86,000 $106,000 Required a. Prepare a schedule of relevant sales and costs for Segment A. b. Prepare comparative income statements for the company as a whole under two alternatives: (1) the retention of Segment A and (2) the elimination of Segment A. Complete this question by entering your answers in the tabs below. Required A Required B Required a. Prepare a schedule of relevant sales and costs for Segment A. b. Prepare comparative income statements for the company as a whole under two alternatives: (1) the retention of Segment A and (2) the elimination of Segment A. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule of relevant sales and costs for Segment A. Relevant Rev. and Cost items for Segment A Sales Effect on income $ 0 Required A Required B > Required a. Prepare a schedule of relevant sales and costs for Segment A. b. Prepare comparative income statements for the company as a whole under two alternatives: (1) the retention of Segment A and (2) the elimination of Segment A. Complete this question by entering your answers in the tabs below. Required A Required B Prepare comparative income statements for the company as a whole under two alternatives: (1) the retention of Segment A and (2) the elimination of Segment A. GIBSON COMPANY Comparative Income Statements for the Year 2 Decision Keep Seg. A Eliminate Seg. A Sales Cost of goods sold Sales commissions Contribution margin $ 0 General fixed operating expenses Advertising expense Net Income $ 0 0 $ 0 $ Required A Required B >
As a result, the issue is that eliminating Segment A will decrease sales, cost of products sold, sales commissions, and advertising costs, which will diminish the company's net profitability.
Required A: The following schedule of relevant sales and costs for Segment A is as follows:
Relevant Rev. and Cost items for Segment A Sales $251,000 Cost of goods sold $83,000 Sales commissions $21,000 Advertising expense (specific to individual divisions) $31,000 Net income (loss) $(24,000)Effect on income $ 0The elimination of Segment A will cause a reduction of sales of $251,000, cost of goods sold of $83,000, sales commissions of $21,000, and an advertising expense of $31,000.
Required B: The following are the comparative income statements for the company as a whole under two alternatives: (1) the retention of Segment A and (2) the elimination of Segment A.GIBSON COMPANY
Comparative Income Statements for the Year 2Decision Keep Seg. A Eliminate Seg. A
Sales $667,000 $416,000
Cost of goods sold $194,000 $111,000
Sales commissions $88,000 $58,000
Contribution margin $385,000 $247,000
General fixed operating expenses (allocation of president's salary) $70,000 $70,000
Advertising expense (specific to individual divisions) $22,000 $0
Net income (loss) $293,000 $177,000
Hence, the problem is that the elimination of Segment A will reduce sales, cost of goods sold, sales commissions, and advertising expense and will result in a lower net income for the company.
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An investment is be made with an initial capital of PHP 842693. It is expected that there will be an annual revenue for this investment of PHP 378213; while it also entitled to an annual operations nd maintenance cost of PHP 37315 and annual taxes of PHP 7289. Its salvage value at the end of its useful life (10 years) is PHP 13122. This investment has a MARR of 18% (same as interest rate). Determine the Annual Worth of the investment using Annual Worth Method. Given an interest rate of 4.3% compounded quarterly and the first payment of Php9697 was made at the end of the first quarter: Determine the present worth of the 12 quarterly payments wherein the succeeding quarterly payments increase by 7% of the first payment. (pls use complete decimal places within the solutions)
We can determine the annual worth of the investment. Annual Worth = PHP 378,213 - PHP 37,315 - PHP 7,289 + PHP 13,122 / (1 + 0.18)^10. Present Worth = PHP 9,697 × (1 - (1 + 0.043 / 4)^-12) / (0.043 / 4)
Annual Worth of the investment using Annual Worth Method:
To calculate the Annual Worth of the investment, we need to consider the annual revenue, annual operations and maintenance cost, annual taxes, salvage value, and the MARR (Minimum Acceptable Rate of Return) of 18%.
Annual Worth = Annual Revenue - Annual Operations and Maintenance Cost - Annual Taxes + Salvage Value (present worth)
Annual Revenue = PHP 378,213
Annual Operations and Maintenance Cost = PHP 37,315
Annual Taxes = PHP 7,289
Salvage Value (present worth) = PHP 13,122 / (1 + 0.18)^10 (to bring it to the present value)
Annual Worth = PHP 378,213 - PHP 37,315 - PHP 7,289 + PHP 13,122 / (1 + 0.18)^10
Present Worth of the 12 quarterly payments:
To calculate the present worth of the quarterly payments, we will use the formula for the present worth of an annuity:
Present Worth = Payment × (1 - (1 + interest rate / number of periods)^-number of periods) / (interest rate / number of periods)
First payment = PHP 9,697
Interest rate = 4.3% (converted to decimal: 0.043)
Number of periods = 12 (since there are 12 quarterly payments)
Present Worth = PHP 9,697 × (1 - (1 + 0.043 / 4)^-12) / (0.043 / 4)
Succeeding quarterly payments increasing by 7%:
To calculate the succeeding quarterly payments, we will increase each payment by 7% of the first payment.
First payment = PHP 9,697
Increase percentage = 7% (converted to decimal: 0.07)
Second payment = PHP 9,697 + PHP 9,697 × 0.07
Third payment = PHP 9,697 + PHP 9,697 × 0.07 × 2
Fourth payment = PHP 9,697 + PHP 9,697 × 0.07 × 3
And so on, until the twelfth payment.
By applying the Annual Worth Method, we can determine the annual worth of the investment. Additionally, by using the present worth formula, we can calculate the present worth of the 12 quarterly payments, considering the increasing pattern.
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Both axes range from 0 to 3,500 in increments of 500. Two intersecting, rising lines, labeled, 45 degrees, and C are plotted. The line labeled 45 degrees starts at (0, 0), and ends at (3,500, 3,500). The line labeled C, starts at (0, 500), intersects the first line at (2,000, 2,000), and ends at (3,500, 3,000). All values are estimated.
In the figure above, saving is positive at all income levels
In the given figure, saving is positive at all income levels. The graph shows two intersecting, rising lines, labeled 45 degrees, and C plotted on both axes ranging from 0 to 3,500 in increments of 500. The line labeled 45 degrees starts at (0, 0), and ends at (3,500, 3,500).
The line labeled C, starts at (0, 500), intersects the first line at (2,000, 2,000), and ends at (3,500, 3,000). All values are when the two lines intersect at the point (2,000, 2,000), it shows that at this level of income, saving is zero. Saving is positive above the point of intersection, and it indicates that people are saving more than they are consuming at these income levels.
Income and saving are directly proportional, and as income increases, the saving also increases. Therefore, it is concluded that saving is positive at all income levels in the given graph. In the given figure, saving is positive at all income levels
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I like in a town that is about 40 mins away from Cleveland Ohio. My family like to call it the middle of nowhere since we have a whole bunch of farmlands and nothing super exciting going on. We are just a small town that you would see in a Hallmark Movie. I would like to talk about Walmart in my town. I believe the company chose this area due to our location. Walmart draws you in with their low prices and you can find almost everything there. In a town like mine, is important to find the bulk of what you need in one place, or else you might have to travel farther than you like to get something.
The strength of Walmart being in this area is no competitors are out here. The weakness of Walmart being in this area is this big box store is killing the local mom-and-pop shops. It's so much easier to just go to Walmart but my town does a good job of keeping the local market going
In response to your peers, be sure to offer suggestions for additional strengths and weaknesses of the chosen location.
One additional strength of Walmart being in this location is that it provides job opportunities for the locals.
Since the town is small and doesn't have many job opportunities, having Walmart in the area can be a major advantage. Moreover, Walmart being a big company can offer better benefits and job security to their employees. On the other hand, one weakness of Walmart being in this area is that it can contribute to traffic congestion. Since Walmart is a popular destination for people in the town and nearby areas, it can cause heavy traffic and long lines, especially during peak hours. Moreover, Walmart's presence in the town can also lead to increased noise and pollution levels, which can be a nuisance to the locals.
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The makers of the world-tamous Chocolate Chip Cookies needs to design a product layout for a new product, Mint Chocolate Chip. The company plans to use this new production line eight hours a day in order to meet projected demand of 1,440 cases per day. The following table describes the tasks involved in the production of a cae of Mint Chocolate Chip Cookies Tisk Timesecs) Immediate Predecessor 4 none 14 12 12 CE V XY For output 10 equal projected demand what is the theoretical minimum number of workstations needed?
The total task time is 4 + 14 + 12 + 12 + 10 = 52 seconds. Which is equivalent to 28,800 seconds, the cycle time is 28,800 / 1,440 = 20 seconds.To calculate theoretical minimum number of workstations: 52 / 20 = 2.6. So, the theoretical minimum number of workstations needed is 3.
"Equivalent" refers to something that is equal or identical in value, meaning, or function to something else. It indicates that two or more things are essentially the same or interchangeable. In various contexts, "equivalent" can be used to describe different concepts. For example, in mathematics, two expressions or equations are considered equivalent if they have the same value or meaning. In chemistry, equivalent can refer to the amount of a substance that can react or combine with a given amount of another substance. In language, an equivalent word or phrase is one that has a similar or identical meaning to another word or phrase.
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If a monopolist increases quantity from 3 units to 4 units, the price falls from $100 to $80. Pick the correct statement about Marginal Revenue. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Gain in revenue from new units $100, Loss in Revenue from old units =$80, Marginal Revenue - $20. b Gain in revenue from new units $320; Loss in Revenue from old units =$300; Marginal Revenue $20. C Gain in revenue from new units $80; Loss in Revenue from old units = $60; Marginal Revenue - $20. d Gain in revenue from new units $60; Loss in Revenue from old units $80; Marginal Revenue-$20 (negative $20).
The correct statement about Marginal Revenue in this scenario is C. Gain in revenue from new units $80; Loss in Revenue from old units = $60; Marginal Revenue - $20.
When a monopolist increases the quantity from 3 units to 4 units and the price falls from $100 to $80, the Marginal Revenue can be calculated by considering the changes in total revenue.
The gain in revenue from the new unit is $80, as the price for the additional unit is $80.
However, the monopolist incurs a loss in revenue from the old units, which can be calculated by multiplying the price difference ($100 - $80 = $20) by the number of old units (3 units).
Thus, the loss in revenue from the old units is $60.
To determine the Marginal Revenue, we subtract the loss in revenue from the old units ($60) from the gain in revenue from the new unit ($80). This results in a Marginal Revenue of $20.
Therefore, the correct statement is: Gain in revenue from new units $80; Loss in Revenue from old units = $60; Marginal Revenue - $20.
The monopolist experiences a gain in revenue from the new unit, incurs a loss in revenue from the old units, and the overall Marginal Revenue is positive.
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Write Short Notes on any FIVE (5) of the following: i. Product Balances ii. Property Incomes iii. Net Lending/ Net Borrowing Consumption of Fixed Capital iv. v. Private Final Consumption Expenditure vi. Implicit Price Deflator vii. Gross Capital Formation viii. Taxes on Production and Imports ix. Gross Disposable Income x. Social Benefits Other than Social Transfers in Kind
i. Product Balances:
Product balances refer to the differences between the total output of an economy's industries or sectors and the intermediate consumption used in the production process. It represents the value added at each stage of production and is essential for calculating the Gross Domestic Product (GDP) using the production approach.
ii. Property Incomes:
Property incomes are the earnings derived from ownership of property or assets. It includes income from sources such as rent, interest, dividends, and royalties. Property incomes are a component of national income and are important for measuring the income distribution within an economy.
iii. Net Lending/Net Borrowing:
Net lending/net borrowing is an indicator of the financial position of an economic sector or the entire economy. It represents the difference between an economic sector's savings (income minus consumption) and its investments (capital formation). A positive net lending indicates a surplus of savings over investments, while a negative net lending indicates a deficit.
iv. Consumption of Fixed Capital:
Consumption of fixed capital refers to the decline in the value of fixed assets over time due to wear and tear, obsolescence, and aging. It represents the amount of investment required to maintain the existing stock of fixed assets and is deducted from the gross domestic product (GDP) to obtain net domestic product (NDP).
v. Private Final Consumption Expenditure:
Private final consumption expenditure (PFCE) is the total expenditure by private households on the purchase of goods and services for their own consumption. It is a significant component of GDP and reflects the spending patterns and consumption behavior of households.
vi. Implicit Price Deflator:
The implicit price deflator is a measure of inflation or price changes in an economy. It compares the current prices of goods and services to a base year, providing a broad measure of overall price level changes in the economy. The implicit price deflator is used to deflate nominal values and calculate real economic growth.
vii. Gross Capital Formation:
Gross capital formation refers to the total value of new physical assets (such as buildings, machinery, infrastructure) created in an economy during a specific period. It includes investments in both fixed capital (such as construction) and changes in inventories. Gross capital formation is an important indicator of an economy's investment activity.
viii. Taxes on Production and Imports:
Taxes on production and imports are levies imposed on goods and services during the production process or at the point of importation. They include taxes such as value-added tax (VAT), excise taxes, customs duties, and other indirect taxes. These taxes form a part of the total tax revenue and can have significant impacts on prices and economic activities.
ix. Gross Disposable Income:
Gross disposable income is the total income received by households from all sources before deducting taxes and other mandatory contributions. It represents the income available to households for consumption or saving after accounting for transfers and taxes.
x. Social Benefits Other than Social Transfers in Kind:
Social benefits other than social transfers in kind refer to government-provided benefits to individuals or households to support their well-being and social security. These benefits include cash transfers such as pensions, unemployment benefits, disability benefits, and other forms of social assistance. They aim to alleviate poverty, provide social security, and ensure a minimum standard of living for individuals and households.
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INCOME QTR 1 7,000 -QTR 2 9,000 2200 QTR3 10,000 TAX RATE 50% 1) HOW MUCH TAX TO RECOG FOR QTR 3 2) DO THE ENTRY FOR QTR 3 TAX RECOG 1800
the calculate the tax to recognize for Quarter 3 and perform the corresponding entry, we need to know the tax rate applied to the income.
Without the specific tax rate for each quarter, we cannot accurately determine the tax amount for Quarter 3. Please provide the tax rate for Quarter 3, or if the 50% tax rate applies to all quarters, we can use that information to calculate the tax amount for Quarter 3. Once we have the tax rate, we can calculate the tax for Quarter 3 and provide the journal entry for tax recognition.
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select all customers who purchased at least two items on two separate days.
To select all customers who purchased at least two items on two separate days, you would need access to a database containing information about customer purchases. With this information, you could write a SQL query that joins the tables containing customer and purchase data, groups the results by customer, and applies a HAVING clause to filter for customers with more than one purchase on different days. Here's an example query:
SELECT customer_id
FROM purchases
GROUP BY customer_id, date
HAVING COUNT(DISTINCT date) >= 2 AND COUNT(*) >= 2;
This query selects the customer_id column from a table called purchases, groups the results by customer_id and date, then applies a HAVING clause that requires each customer to have made at least two purchases on different dates.
How do you select all customers who purchased at least two items on two separate days?
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Long Term Assets (30 points) 1. Long-term assets are shown on the balance sheet at: a. Their current market value. b. The amount it will cost to replace them after they reach the end of their useful life. C. Their original cost minus accumulated depreciation. d. Their purchase price multiplied by an inflation adjustment factor.
Long-term assets are shown on the balance sheet at their historical cost, which is the amount of money paid to acquire the asset.
This value is then reduced by accumulated depreciation, which represents the amount of the asset's value that has been used up over time due to wear and tear, obsolescence, or other factors. The resulting figure represents the book value of the asset, which reflects its current worth if the company were to sell it at its current condition and state of usefulness.
It is important to note that long-term assets are not shown at their current market value or the amount it will cost to replace them after they reach the end of their useful life. Instead, the historical cost minus accumulated depreciation is used as it provides a more accurate representation of the asset's actual value to the company.
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Instructions: Create a process model based on the description of the process using your chosen computer software. If you are using amething other than PowerPoint, convert the model to .pdf format before submitting an Isidore. Then answer the question about the process you have modeled. Description: The process begins when a customer submits a request for a quote for a product installation. The request for quote is sent to a salesperson. The salesperson prepares the quote with standard terms and then submits the quote. This sends the quote to the customer who then responds to the quote. Their response is sent to the salesperson. If the customer did not accept the quote, the salesperson prepares a new quote with adjusted terms and then submits it. This is sent to the customer for response. If the customer does not accept the quote, the salesperson prepares a new quote with adjusted terms and this cyce can continue until the customer accepts a quote. Once the customer accepts the quote, the salesperson submits the order to the operations manager for review. The operations manager checks the inventory database to see if the needed products are available. If the items are not available, the operations manager rejects the order. The rejection is sent to the salesperson who prepares an order rejection response that is sent the customer. The customer processes the order response and the process is over. If the products are available, the operations manager updates the inventory database to reserve the products for that customer (this makes them unavailable to other orders). Then the operations manager approves the order. The approval is sent to the salesperson. The salesperson then requests credit approval. This request is sent to the credit manager. The credit manager checks the customer credit by following a set subprocess and returns the credit response. If the Credit is not approved, the salesperson prepares an order rejection response that is sent to the customer. The customer processes the order response and the process is over. If the credit is approved, F the salesperson follows the Accept Order subprocess, which results in sending the customer the approved order response. The customer processes the order response and the process is over. Part 1-Create a process model diagram that accurately depicts the process as described. Use the style and notation provided in class. . Part 2- Assume you have been asked to model this process to help the company improve it. After discussing the process with the different actors involved in the process, you find out that inventory levels in the database are often inaccurate. Products that are available for sale are sometimes marked as reserved, leading to missed sales opportunities Review the process and identify how the process st should be updated in order to solve the inaccurate Inventory levels problem. Clearly describe why you think inventory levels may be incorrect and then describe how the process should be updated to fix this issue. Note: There is a very specific issue that would cause available inventory levels to become Inaccurate over time. A PowerPoint template has been provided to you that you can use if you choose. ADD ACTOR HERE Lata ADD ACTOR HERE ADD ACTOR HERE ADD ACTOR HERE
The process model should be updated to resolve the issue of inaccurate inventory levels. The modifications suggested above will help to ensure that the inventory levels are accurate and that the products are available for sale to the customers.
Part 1: Process Model Diagram for the provided description
Part 2: Inventory levels may become inaccurate due to the following reason: when a salesperson prepares a quote with adjusted terms and submits it again, the products which were reserved for the previous order are not released in the database. As a result, it marks these products as reserved in the inventory database which leads to inventory levels becoming inaccurate over time.
The process should be updated to resolve the issue of inaccurate inventory levels by making the necessary changes in the process. The following are the suggested modifications:
1. When the salesperson prepares a new quote with adjusted terms, the system should automatically cancel the previous order that was not accepted by the customer. In this way, the products that were reserved for the previous order will be released and available for sale.
2. The system should be updated to remove the manual updating of inventory levels. Instead, it should be integrated with an inventory management system that automatically updates the inventory levels when the order is approved.
3. The operations manager should check the inventory levels before approving the order, and only approve the order if the products are available for sale. If the products are not available, the operations manager should reject the order, and the salesperson should prepare an order rejection response that is sent to the customer.
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1. Take a look at the year-over-year income statement. How have
the three companies been performing over time in terms of revenue
and income growth?
2. Take a look at the common size income statement Lululemon Athletica Inc. (NasdaqGS: LULU) Income Statement For the Fiscal Period Ending Jan-29- 12 12 months 12 months months 12 months 12 months Jan-28- Feb-03- Feb-02- Jan-31- 2018 2019 2020 2021 US
When analyzing the year-over-year income statement of the three companies (Amazon, IMAC, and Citigroup), we can assess their performance in terms of revenue and income growth.
By comparing the revenue and net income figures over time, we can identify any trends or patterns.
For example, if we observe consistent increases in both revenue and net income from year to year, it indicates strong growth and positive performance. Conversely, if there are fluctuations or declining figures, it suggests challenges or potential issues affecting their financial performance.
To fully evaluate the revenue and income growth, we need access to the specific income statements of the companies over multiple years. By comparing the figures, we can calculate the growth rates and assess the overall performance of each company.
When examining the common-size income statement of Lululemon Athletica Inc. (NASDAQ: LULU), we can gain insights into the composition and relative proportions of various expense items and revenues. The common-size income statement expresses each line item as a percentage of the company's total revenue, allowing for a more meaningful comparison.
By analyzing the common-size income statement over multiple periods (such as Jan-29-2018, Jan-28-2019, Feb-03-2020, and Feb-02-2021), we can observe any changes in the relative importance of different expense categories or revenue streams.
For example, if we notice that the cost of goods sold (COGS) as a percentage of revenue is decreasing over time, it suggests improved efficiency in the company's operations. Similarly, if we observe an increasing proportion of revenue attributed to a specific revenue stream (e.g., online sales), it indicates a shift in the company's business model or market dynamics.
Analyzing the common-size income statement helps us understand the underlying trends and dynamics within a company's financial performance, allowing for a more comprehensive evaluation of its financial health and strategy.
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Raya expects to receive $8949 at graduation in four years. She
plans on investing it at 11% until she has $65000. How long will
she wait from now?
Raya expects to receive $8949 at graduation in four years and she plans on investing it at 11% until she has $65000. Raya will wait for about 14.29 years from now to have $65,000 at 11% interest.
The amount Raya expects to receive at graduation in four years is $8949.
Raya's present value, PV = $0
The future value, FV = $65,000.
The interest rate, i = 11% = 0.11
We can use the formula for the future value of a single sum:
FV = PV (1 + i)ᶜ where, FV = Future Value, PV = Present Value, i = Interest rate, t = time period, c = Compounding frequency. Initially, the $8949 is invested and left for 4 years.
After that time, the money will be worth: FV = 8949 (1 + 0.11)⁴ FV = $15350.34. She has to wait for t years to have $65000 at 11% interest rate.
Using the formula for the future value of a single sum: FV = PV (1 + i)ᶜ
65000 = 15350.34 (1 + 0.11)ᵗ=11.24263 = (1.11)ᵗ
Take natural log on both sides of the equation. ln(11.24263) = ln(1.11)ᵗt = ln(11.24263) / ln(1.11)t = 14.29Answer:Therefore, Raya will wait for about 14.29 years from now to have $65,000 at 11% interest.
To find out how long will Raya wait from now, we used the formula for the future value of a single sum. We first calculated how much she will have after four years by investing the amount she is going to receive. Using this value as present value, we then calculated the time period for which she has to wait to have $65,000 at 11% interest rate.
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gasoline prices rose globally and in the united states in 2008. describe and illustrate the impact on the market for compact fuel-efficient cars, such as the toyota prius.
Gasoline prices in the United States and globally rose in 2008, which had an impact on the market for compact fuel-efficient cars such as the Toyota Prius.
The increase in gasoline prices made fuel-efficient vehicles, especially hybrids, a popular choice for consumers.
For instance, the price of gasoline went above $4 per gallon in some areas of the country, a figure that consumers found quite expensive.
As a result, the market for fuel-efficient vehicles such as the Toyota Prius and Honda Civic Hybrid boomed during the period.
The high prices of gasoline led to an increase in the demand for compact and subcompact cars with high fuel efficiency ratings, and the market for such vehicles has continued to grow ever since.
This trend, however, was not unique to the United States alone; global demand for fuel-efficient vehicles increased considerably as a result of the high gasoline prices in 2008.
The rise in demand for hybrid vehicles led to increased production, and as a result, the prices of these vehicles fell considerably.
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