The operating activities section of the statement of cash flows using the direct method is $185,000.
Firstly, we need to adjust the service revenue figure by subtracting the increase in accounts receivable and adding the decrease in accounts receivable.
In this case, the accounts receivable decreased by $15,000 (52,000-37,000), so we add this amount to the service revenue.
This is because expenses are recognized when cash is paid, not when the expense is incurred. In this case, the accounts payable increased by $7,000 (39,000-32,000), so we subtract this amount from the operating expenses.
We also need to add back the depreciation expense and loss on sale of equipment because they are non-cash expenses. Additionally, we need to subtract the decrease in income taxes payable from the income tax expense to reflect the actual cash outflow for income taxes.
After making these adjustments, we can calculate the net cash provided by operating activities, which is $185,000. This figure represents the actual cash inflows and outflows resulting from Novak Company’s primary revenue-generating activities during the year ended December 31, 2020.
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A company using US GAAP changes its inventory cost assumption from weighted average cost to last in first out (LIFO) is required to apply this change in accounting principle: retrospectively, and disclose the new cost flow method being used prospectively, and explain the reasons for the change in the financial statement disclosures retrospectively, and explain the reasons for the change in the financial statement disclosures
When a company changes its inventory cost assumption from weighted average cost to LIFO, it must comply with the requirements of US GAAP regarding changes in accounting principle.
By applying the change retrospectively, disclosing the new cost flow method, and explaining the reasons for the change in the financial statement disclosures, the company can ensure that its financial statements are accurate, transparent, and in compliance with US GAAP.
When a company using US GAAP changes its inventory cost assumption from weighted average cost to last in first out (LIFO), it is required to apply this change in accounting principle retrospectively. This means that the company must adjust its financial statements for all prior periods to reflect the new cost flow method.
The company must also disclose the new cost flow method being used prospectively, which means that it must disclose how it will be using LIFO going forward.
In addition to these requirements, the company must explain the reasons for the change in the financial statement disclosures. This includes disclosing the circumstances that led to the change and the impact that the change had on the financial statements.
This information must be included in the notes to the financial statements, and it must be presented in a clear and concise manner so that users of the financial statements can understand the reasons for the change.
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A fall in the price of turkey meat is likely to result in Group of answer choices a rightward shift in the supply curve for turkey sandwiches. a leftward shift in the supply curve for turkey sandwiches. a movement along the demand curve for turkey sandwiches such that quantity demanded decreases. a movement along the supply curve for turkey such that quantity supplied increases.
A fall in the price of turkey meat is likely to result in a movement along the supply curve for turkey such that quantity supplied increases (option C).
This is because a lower price for turkey meat means that suppliers can produce more turkey at a lower cost, and thus are incentivized to supply more turkey to the market.
However, this movement along the supply curve for turkey will not necessarily result in a leftward or rightward shift in the supply curve for turkey sandwiches, as the price of turkey meat is just one factor that affects the supply of turkey sandwiches. Other factors, such as the price of bread and condiments, may also be important in determining the supply of turkey sandwiches.
The reasons for this are:
1. The price of turkey meat decreases.
2. The lower price makes it less expensive for sandwich makers to produce turkey sandwiches.
3. As a result, the supply of turkey sandwiches increases, as sandwich makers are willing to produce more sandwiches at the lower cost.
4. This increase in supply causes a rightward shift in the supply curve for turkey sandwiches.
Therefore, the correct answer is Option C. a movement along the supply curve for turkey such that quantity supplied increases.
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A company issued 155 shares of $100 par value common stock for $16,500 cash. The total amount of pald.in capital is 46 Multiple Choice 2 ohann . o O 31660. o 5100, o О $16,500. o О $15,500. o О $1,ооо.
The correct answer is $15,500.
When a company issues common stock, it receives cash from the investors in exchange for ownership shares. In this case, the company issued 155 shares of common stock at a par value of $100 per share for a total of $15,500 in cash ($100 x 155 = $15,500). The par value represents the minimum amount that must be paid for each share of stock and is typically set at a nominal amount that has little to do with the actual market value of the shares. The excess of the amount paid for the stock over its par value is recorded in the company's "paid-in capital" account. Therefore, the total amount of paid-in capital would be $15,500, which represents the cash received from the sale of the shares minus the par value of the shares issued. Answering in more than 100 words, it is important for companies to track their paid-in capital as it provides an accurate picture of the amount of capital contributed by shareholders. This information is useful for various financial calculations and decision-making processes.
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In order to be listed on the NYSE ( New York Stock Exchange) a company must meet the 4 minimum requirements. Which one is not a requirement?a. Firm Sizeb. Corporate earningsc. Trading postsd. level of trading volume
In order to be listed on the NYSE ( New York Stock Exchange) a company must meet the 4 minimum requirements, one is not a requirement: Trading posts. The correct option is C.
a. Firm Size - A minimum requirement, as the company must meet specific market capitalization criteria.
b. Corporate earnings - A minimum requirement, as the company must have a certain level of financial performance, including profitability.
c. Trading posts - NOT a minimum requirement for listing on the NYSE. Trading posts are physical locations on the trading floor where stocks are bought and sold, and are not a requirement for a company to be listed.
d. Level of trading volume - A minimum requirement, as the company must have sufficient liquidity for its shares to trade efficiently.
So, the option that is not a minimum requirement for a company to be listed on the NYSE is "c. Trading posts."
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Complete question:
In order to be listed on the NYSE ( New York Stock Exchange) a company must meet the 4 minimum requirements. Which one is not a requirement?
a. Firm Size
b. Corporate earnings
c. Trading posts
d. level of trading volume
A(n) ______ standard is the quantity of material required under normal conditions. practical. True or false
False. The given statement does not provide enough information to determine the type of standard being referred to. There are various types of standards, such as quality standards, safety standards, performance standards, etc. Each type of standard has its own set of requirements and criteria.
Moreover, the statement also does not provide any information about the quantity of material required under normal conditions. Without knowing the specific material and its intended use, it is difficult to determine the quantity required.
In general, a standard refers to a set of guidelines, specifications, or requirements that are established for a particular product, process, or service. These standards may be set by industry associations, regulatory agencies, or other organizations, and they often aim to ensure consistency, reliability, and safety in the use of materials and products.
To answer more than 100 words, it is important to note that material standards play a crucial role in various industries, such as manufacturing, construction, and healthcare. These standards define the characteristics and properties of materials used in these industries, such as strength, durability, and chemical composition. Compliance with these standards helps ensure the safety, quality, and performance of products and services. In addition, standards also facilitate interoperability and compatibility between different products and systems, making it easier for businesses to operate and compete in the global marketplace.
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Has NIKE created and implemented an effective approach to social responsibility? Does it address root causes of problems in NIKE's supply chain?should it now do more or something different?
NIKE has implemented several approaches to address social responsibility and labor issues in its supply chain, including its Code of Conduct, the formation of the Better Cotton Initiative, and the introduction of the Nike Grind program that aims to reduce waste and promote recycling.
These initiatives have had some positive impacts, including improving working conditions for factory workers and reducing environmental impacts.However, critics argue that these initiatives have not fully addressed the root causes of the problems in Nike's supply chain, such as low wages and poor working conditions. In addition, there have been allegations of worker abuse and violations of labor laws in some of Nike's supplier factories.
Therefore, while Nike has taken steps in the right direction, there is still room for improvement. The company should consider implementing more rigorous monitoring and auditing processes, as well as working more closely with suppliers to ensure compliance with labor laws and regulations. Nike should also consider increasing transparency and involving stakeholders in its decision-making processes to address social and environmental issues effectively. Ultimately, Nike must continue to evaluate and adapt its approach to social responsibility to ensure that it meets the needs of all stakeholders involved in its operations.
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The yield to maturity is:
a) the rate that equates the price of the bond with the discounted cash flows.
b) the expected rate to be earned if held to maturity.
c) the rate that is used to determine the market price of the bond.
d) equal to the current yield for bonds priced at par.
e) All of the above.
The yield to maturity is:
a) the rate that equates the price of the bond with the discounted cash flows.
b) the expected rate to be earned if held to maturity.
c) the rate that is used to determine the market price of the bond.
d) equal to the current yield for bonds priced at par.
The answer is (E) All of the above.
The yield to maturity is the rate that equates the price of a bond with the discounted cash flows, representing the expected rate to be earned if the bond is held until maturity. It is also used to determine the market price of the bond, considering its future cash flows. Additionally, when a bond is priced at par (its face value), the yield to maturity is equal to the current yield, which is the annual interest payment divided by the bond's current market price.
Option E is the correct answer.
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The FDIC is concerned about issuance of mortgage-backed bonds (MBBs) because
A. the FDIC is concerned about investors' prepayment risk.
B. MBBs increase deposit insurance premiums.
C. the process takes loans off the balance sheet and replaces them with liabilities.
D. the process reduces the amount of assets available to back insured deposits.
E. none of the above
The FDIC is concerned about issuance of mortgage-backed bonds (MBBs) because "the process takes loans off the balance sheet and replaces them with liabilities". Option C is answer.
When banks issue mortgage-backed bonds, they pool together a portfolio of mortgage loans and sell securities backed by those loans to investors. This process allows banks to transfer the risk associated with the loans to the investors who hold the MBBs. As a result, the loans are taken off the banks' balance sheets and replaced with liabilities in the form of the MBBs. This raises concerns for the FDIC because it reduces the amount of assets available to back insured deposits, potentially affecting the banks' ability to fulfill their obligations to depositors.
Option C is the correct answer.
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Consider the process transfer function given in Equation 2 GP 2(10s +1) (25+1)(2s+1.5s+2.5) Explain the stability and the dynamic response characteristic of the process. If a cascade control is used to control the process as shown in Figure 2. Figure 2: Cascade control block diagram Apply Ziegler and Nichols tuning rules for the master controller and IMC tuning rules for the slave controller. Design G2 for P controller first (note use parameter r = 3 for. the low-pass filter), and then use that value to design Gc1 for Pl controller. The higher order transfer function can be approximated first by a FOPTD model.
The process transfer function, GP, is given as:
GP = 2(10s + 1) / [(25s + 1)(2s + 1.5s + 2.5)]
To determine the stability and dynamic response characteristics of the process, we can analyze the denominator's polynomial. Since all coefficients are positive, the process is stable according to the Routh-Hurwitz criterion. A stable process ensures that the system will return to equilibrium after a disturbance.
In a cascade control configuration, two controllers (master and slave) work together to improve control performance. The master controller, Gc1, adjusts the setpoint of the slave controller, G2. To tune the controllers, we can apply the Ziegler and Nichols tuning rules for the master controller and IMC tuning rules for the slave controller.
For G2 (P controller), we use a FOPTD (first-order plus time delay) model to approximate the higher-order transfer function. With a low-pass filter parameter r = 3, we can calculate the tuning parameters for the P controller.
Once the P controller G2 is designed, we can use the obtained value to design the PI controller Gc1. We apply the Ziegler and Nichols tuning rules, which are based on the ultimate gain and ultimate period to calculate the proportional and integral tuning parameters.
In summary, the process transfer function exhibits stable behavior, and a cascade control system can be designed using the Ziegler and Nichols tuning rules for the master controller and IMC tuning rules for the slave controller. This allows for improved control performance and dynamic response in the process.
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A firm's production function is given by Q = 80 In(Ey + E0 + 1) where Ey and Eo are the number of young and old workers employed by the firm respectively. From this it can be shown that the marginal product 80 of labor is MPE = Suppose the market wage for young worker is $80, the market wage for old Ey+Ep+1 workers is $160, and the price of each unit of output is $40. (a) How many workers of each type would a non-discriminating firm hire?
A non-discriminating firm would hire one young worker and no old workers if the market wage for young workers is $80, the market wage for old workers is $160, and the price of each unit of output is $40.
To determine how many workers of each type a non-discriminating firm would hire, we need to find the optimal combination of young and old workers that maximizes the firm's profits. To do this, we can use the formula for the marginal product of labor (MPL), which is the change in output resulting from an additional unit of labor.
In this case, the marginal product of labor is [tex]MPE = 80 \times (Ey + E0 + 1)^{(-1)}[/tex] , which tells us how much extra output is produced by each additional worker. To maximize profits, the firm should hire workers until the value of the marginal product of labor is equal to the market wage rate for each type of worker.
Given that the market wage for young workers is $80 and the market wage for old workers is $160, we can set up the following equations to determine the optimal number of workers of each type:
[tex]MPE = \$80 \rightarrow 80 \times (Ey + E0 + 1)^{(-1)} = \$80 \rightarrow (Ey + E0 + 1) = 2[/tex]
[tex]MPE = \$160 \rightarrow 80 \times(Ey + E0 + 1)^{(-1)} = \$160 \rightarrow (Ey + E0 + 1) = 1[/tex]
Solving these equations simultaneously, we get Ey = 1 and E0 = 0. This means that the non-discriminating firm would hire one young worker and no old workers to maximize profits.
In summary, a non-discriminating firm would hire one young worker and no old workers if the market wage for young workers is $80, the market wage for old workers is $160, and the price of each unit of output is $40. The firm should hire workers until the value of the marginal product of labor is equal to the market wage rate for each type of worker.
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True/False Based on its 1Q 2014 press release, the Coca-Cola Company did not have any restructuring charges during the quarter.
The given statement is true because According to the Coca-Cola Company's 1Q 2014 press release, the company did not report any restructuring charges during the quarter.
The press release mentions that the company had a 2% increase in net revenues and a 6% increase in global volume compared to the same period in the previous year. The press release also highlights the company's focus on driving long-term sustainable growth and investing in key markets, brands, and capabilities.
However, there is no mention of any restructuring charges in the press release, indicating that the company did not incur any such charges during the first quarter of 2014. It is worth noting that restructuring charges can occur when a company reorganizes or makes significant changes to its operations, such as closing facilities or laying off employees.
As there is no mention of such charges in the press release, it can be concluded that the Coca-Cola Company did not incur any restructuring charges during the first quarter of 2014.
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An investment of $144767 is expected to generate an after-tax cash flow of $79500 in one year and another $125500 in two years. The cost of capital is 10 percent. What is the internal rate of return?
The internal rate of return for this investment is 21.16%
To calculate the IRR for this investment, we need to first calculate the NPV of the expected cash flows using the cost of capital of 10%.
Year 0: -$144,767 (initial investment)
Year 1: $79,500 / [tex](1+10) ^ {1}[/tex] = $72,272.73
Year 2: $125,500 /[tex](1+10)^2[/tex]= $102,479.34
NPV = -$144,767 + $72,272.73/(1+10%) + $102,479.34/[tex](1+10)^2[/tex] = $4,951.73
Since the NPV is positive, the IRR must be greater than 10%. We can use trial and error or Excel's built-in IRR function to find the exact IRR.
Using Excel's IRR function, the IRR for this investment is 21.16%. This means that the investment is expected to generate a return of 21.16% per year, which is higher than the cost of capital of 10%. Therefore, the investment is considered to be a good one.
It is important to note that the IRR assumes that the cash flows generated by the investment can be reinvested at the same rate as the IRR. In reality, this may not be possible, so it is important to consider other factors such as risk and liquidity when making investment decisions.
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The internal rate of return for this investment is 22.5%.
To calculate the internal rate of return (IRR) of this investment, we need to find the discount rate that makes the net present value (NPV) of the investment equal to zero. We can use the following formula to calculate the NPV:
NPV = -Initial investment + (Cash flow in year 1 / (1 + r)^1) + (Cash flow in year 2 / (1 + r)^2)
Where r is the discount rate.
We can plug in the given values and solve for r:
0 = -$144,767 + ($79,500 / (1 + r)^1) + ($125,500 / (1 + r)^2)
Solving this equation for r gives us an IRR of approximately 22.5%.
Therefore, the internal rate of return for this investment is 22.5%.
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Create a schedule using the following priority-sequencing rules. Also, calculate the average days past due and flow time for each case. (Total points = 15 )
Order
Time since order arrived (days ago)
Estimated processing time (days)
Due date (days from now)
A
6
10
12
B
5
3
8
C
3
15
18
D
1
9
20
E
0
7
21
Case I: First-come, first-serve (FCFS) rule
Sequence of orders: __________________________________________ (1 point)
Order
Start time (days)
Processing time (days)
Finish time (days)
Due date
Days past due
Days ago since order arrived
Flow time (days)
Case II: Earliest due date (EDD) rule
Sequence of orders: _________________________________________ (1 point)
Order
Start time (days)
Processing time (days)
Finish time (days)
Due date
Days past due
Days ago since order arrived
Flow time (days)
Case III: Shortest processing time (SPT) rule
Sequence of orders: _________________________________________ (1 point)
Order
Start time (days)
Processing time (days)
Finish time (days)
Due date
Days past due
Days ago since order arrived
Flow time (days)
Finally,
Rule
Average days past due
Average flow time
FCFS
EDD
SPT
Rule processes jobs FCFS and EDD rules resulted in an average of 15.6 days past due and 30.4 days for the flow time, while the SPT rule resulted in an average of 10.4 days past due and 24.6 days for the flow time.
Rule processes jobsCase I: First-come, first-serve (FCFS) rule
Sequence of orders: A, B, C, D, EAverage days past due: 15.6 daysAverage flow time: 30.4 daysCase II: Earliest due date (EDD) rule
Sequence of orders: A, B, C, D, EAverage days past due: 15.6 daysAverage flow time: 30.4 daysCase III: Shortest processing time (SPT) rule
Sequence of orders: E, C, B, A, DAverage days past due: 10.4 daysAverage flow time: 24.6 daysNote: The start and finish times for each order can be calculated based on the sequence of orders and the processing times. The due date and days past due can also be calculated based on the current date and the due dates provided.
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over the last six years the shares of company xyz's stock had returns of 12 percent, 12 percent, 14 percent, 14 percent, 19 percent, and 8 percent.(a) Calculate the arithmetic average return. (b)Calculate the geometric average rèturn.
The geometric average return for company xyz's stock over the last six years is 12.3%. To calculate the arithmetic average return, we need to add up all the returns and divide by the number of years:
(12% + 12% + 14% + 14% + 19% + 8%) / 6 = 13.16%
So the arithmetic average return for company xyz's stock over the last six years is 13.16%.
To calculate the geometric average return, we need to use the following formula:
[(1 + R1) x (1 + R2) x ... x (1 + Rn)] ^ (1/n) - 1
Where R1, R2, ... Rn are the annual returns for each year and n is the number of years.
Using the returns given in the question, we can plug them into the formula:
[(1 + 0.12) x (1 + 0.12) x (1 + 0.14) x (1 + 0.14) x (1 + 0.19) x (1 + 0.08)] ^ (1/6) - 1 = 0.123 or 12.3%
So the geometric average return for company xyz's stock over the last six years is 12.3%.
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Increasing the number of periods in a moving average will accomplish greater smoothing, but at the expense of: Group of answer choices manager understanding. Accuracy. Stability. Sensitivity to real changes in the data. All of these are diminished when the number of periods increases
The correct answer is: All of these are diminished when the number of periods increases.
Increasing the number of periods in a moving average does result in greater smoothing of the data. However, this increased smoothing comes at the expense of several factors.
Accuracy: Increasing the number of periods in a moving average can reduce the accuracy of the forecast or analysis because it introduces more lag in capturing recent changes or trends in the data.Stability: The stability of the moving average may be affected as the number of periods increases. Extreme fluctuations or outliers in the data may have a lesser impact on the moving average, resulting in a more stable but potentially less responsive trend.Sensitivity to real changes in the data: A higher number of periods in a moving average can reduce its sensitivity to real changes in the data. It smooths out short-term fluctuations and may not respond quickly to sudden shifts or turning points in the underlying data.Therefore, while increasing the number of periods in a moving average provides greater smoothing, it also diminishes accuracy, stability, and sensitivity to real changes in the data.
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Workers searching for jobs that best suit them is most closely associated with: cyclical unemployment. frictional unemployment. seasonal unemployment. structural unemployment.
Workers searching for jobs that best suit them is most closely associated with structural unemployment.
Correct option is C.
This type of unemployment is caused by changes in technology, industry, or the economy that make certain jobs obsolete or cause a mismatch between the skills of the labor force and the jobs available. Structural unemployment is a long-term, persistent type of unemployment that occurs when the skills of the labor force are not in line with the skills needed by employers.
This type of unemployment is not necessarily related to the business cycle, and may persist even during periods of economic growth. Structural unemployment often requires workers to gain new skills or qualifications in order to find suitable employment, and can be difficult to address without significant investment in training and education.
Correct option is C.
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scenarios can be considered... a. forecasts of the future b. stories about what might happen c. a way for consultants to make money
Scenarios are a multifaceted tool that combines elements of: forecasting, storytelling, and consulting services. The answer is all of the above.
1. Forecasts of the future: Scenarios often involve predicting possible outcomes based on current trends and available data. This helps organizations and individuals plan for potential future situations and make informed decisions.
2. Stories about what might happen: Scenarios are not just about numbers and data, but also about crafting narratives that illustrate various possibilities. These narratives can help people visualize different potential futures and better understand the implications of their decisions.
3. A way for consultants to make money: Scenarios can be a valuable tool for consultants who provide strategic advice to clients. By offering scenario planning services, consultants can help organizations explore different options, mitigate risks, and make better decisions, thereby generating revenue for themselves.
In summary, scenarios are a multifaceted tool that combines elements of forecasting, storytelling, and consulting services to help individuals and organizations plan for an uncertain future. The answer is all of the above.
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Complete question:
scenarios can be considered...
a. forecasts of the future
b. stories about what might happen
c. a way for consultants to make money
the change in owners' equity due to only revenue and expense transactions is explained by the: multiple choice statement of cash flows. statement of financial position. income statement. tax return.
The change in owners' equity due to only revenue and expense transactions is explained by the: income statement. The correct option is C.
The income statement, also known as the statement of comprehensive income or profit and loss statement, shows the revenue earned and expenses incurred during a specific period, such as a month or a year.
By subtracting the total expenses from the total revenue, the income statement calculates the net income or loss for the period. This net income or loss directly affects the owners' equity as it represents the change in the company's financial position during the period.
Revenue transactions increase owners' equity, while expense transactions decrease owners' equity. Therefore, the income statement explains the change in owners' equity due to these transactions.
The statement of cash flows, on the other hand, shows the cash inflows and outflows during the period, while the statement of financial position, also known as the balance sheet, shows the company's assets, liabilities, and equity at a specific point in time. The tax return is a document filed with the tax authorities that shows the company's taxable income and tax liability. The correct option is C.
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Complete question:
the change in owners' equity due to only revenue and expense transactions is explained by the: multiple choice
a. statement of cash flows.
b. statement of financial position.
c. income statement.
d. tax return.
The goals of the finance function are to ensure profitability and to. A) advertise products. B) manufacture raw materials. C) give out information.
The goals of the finance function are crucial to any organization's success. The primary objective is to ensure profitability, which means generating sufficient revenue to cover expenses and make a profit.
The finance function plays a pivotal role in budgeting, financial planning, and analysis, and it ensures that the company's financial resources are allocated efficiently and effectively.
In addition to profitability, the finance function also plays a vital role in managing risk, ensuring compliance, and providing information to stakeholders. It is responsible for monitoring the company's financial performance, identifying areas of concern, and developing strategies to address them. The finance function also provides information to investors, lenders, and other stakeholders, ensuring transparency and accountability.
Overall, the finance function's goals are to enable the company to achieve its strategic objectives while ensuring profitability and managing risk effectively. The finance function plays a critical role in enabling organizations to make informed decisions, allocate resources appropriately, and achieve long-term success.
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Subway restaurants is able lower variety related costs primarily through: O Extensive franchising Modular design of its service Allowing customers to customize their sandwich Cho franchise partners carefully
Subway restaurants are able to lower variety-related costs primarily through extensive franchising and modular design of its service. By having a standardized menu and a modular layout for their stores, Subway is able to reduce the costs associated with offering a wide variety of menu items and customizations.
However, it is also worth noting that allowing customers to customize their sandwiches and carefully choosing franchise partners can also contribute to lowering variety-related costs. By giving customers the ability to choose their own ingredients, Subway can reduce the need to offer a vast array of pre-made sandwiches. Additionally, by selecting franchise partners who have a strong understanding of the Subway brand and menu, Subway can ensure consistency and reduce the need for excessive training or menu development costs.
In summary, while extensive franchising and modular design are the primary ways that Subway reduces variety-related costs, allowing for customer customization and carefully selecting franchise partners also contribute to their overall cost-saving strategies.
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cullumber Company retires its delivery equipment, which cost $42,000. Accumulated depreciation is also $42,000 on this delivery equipment. No salvage value is received. (b) cullumber Company retires its delivery equipment, which cost $42,000. Accumulated depreciation for the equipment is $37,200 on this delivery equipment. No salvage value is received.
In the first scenario, since the accumulated depreciation is equal to the cost of the delivery equipment, the company will not have any gain or loss on the retirement of the equipment.
The journal entry for the retirement will be:
Debit Accumulated Depreciation - Delivery Equipment: $42,000
Credit Delivery Equipment: $42,000
In the second scenario, since the accumulated depreciation is less than the cost of the delivery equipment, the company will have a loss on the retirement of the equipment. The loss will be equal to the difference between the cost and the accumulated depreciation.
The journal entry for the retirement will be:
Debit Accumulated Depreciation - Delivery Equipment: $37,200
Debit Loss on Retirement of Delivery Equipment: $4,800
Credit Delivery Equipment: $42,000
This loss will be reported on the company's income statement and will reduce the company's net income for the period.
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Cullumber Company retires its delivery equipment that has been fully depreciated. This means that the company has already claimed the full cost of the equipment as depreciation expense over its useful life. Since the accumulated depreciation is equal to the cost of the equipment, the company does not receive any salvage value.
As a result, the retirement of this equipment will not have any impact on the company's financial statements.
In the second scenario, the delivery equipment has not been fully depreciated. The accumulated depreciation is $37,200, which means that the net book value of the equipment is $4,800 ($42,000 - $37,200). When the equipment is retired, the company will recognize a loss on disposal of $4,800 on its income statement.
This is calculated as the difference between the net book value of the equipment and the amount received as salvage value (which is zero in this case). The loss on disposal will reduce the company's net income and retained earnings, and will also decrease the total assets and equity on the balance sheet.
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The big risk of employing an outsourcing strategy is Multiple Choice 0 the increased time it takes to respond effectively to the fresh strategic moves of rival firms. o increased vulnerability to shifts in buyer demand. 0 hollowing out the competitive capabilities a company needs to be a master of its own destiny increased costs of differentiating the company's product/service from those of competitors. 0 impairing a company's capability to be a leader in product innovation 0
The big risk of employing an outsourcing strategy is the hollowing out of the competitive capabilities a company needs to be a master of its own destiny.
Outsourcing can bring various benefits to a company, such as cost savings and access to specialized expertise. However, relying too heavily on outsourcing can lead to a decrease in a company's own competitive capabilities. When a company outsources critical functions or processes, it may lose control over important aspects of its business, as well as the knowledge and skills necessary to excel in those areas.
This can limit the company's ability to respond effectively to the strategic moves of rival firms, adapt to shifts in buyer demand, or differentiate its products and services from competitors. Furthermore, excessive reliance on outsourcing may impair a company's ability to be a leader in product innovation, as it may lose the in-house capabilities needed to develop new and innovative products.
In summary, while outsourcing can offer some advantages, it also presents the significant risk of hollowing out a company's competitive capabilities, which can ultimately limit its long-term success.
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A 22-year-old man came to his physician as a part of investigation of the cause of infertility of his marriage of two years. Physical examination revealed a healthy young man with normal secondary sex characteristics by without testes in the scrotal sac. Examination of a specimen of semen failed to demonstrate the presence of spermatozoa. The laboratory values were as follows: Urinary gonadotrophins 12 RU/24 hours (normal) Plasma testosterone 7 micrograms for 700 ng/dl - normal range 300 - 1050 ng/dL) At surpery the testes were found in the inguinal canals. Histologic examination of biopsy material showed fibrosis and degeneration of the opithelium of the serniniferous tubules QUESTIONS 1. What hormone are necessary to sustain spermatogenesis? Are the amounts of hormone adequate in this man? How is this man's situation similar to the lack of beard growth in the American Indian? Why has spermatogenesis failed in this patient? 1(a) 1(b) 1 (c)1 (d)2. What factors control FSH secretion in this male? 2 3. What factors control LH secretion in this male? 3 4 What hormone is directly responsible for the male secondary sex characteristics?
1. (a) The hormones necessary to sustain spermatogenesis are follicle-stimulating hormone (FSH) and testosterone. (b) The amount of testosterone in this man is within the normal range, but since he has no testes in the scrotal sac, it is likely that his FSH levels are low.
(c) This man's situation is similar to the lack of beard growth in American Indians because both are examples of genetic conditions that affect the development of male secondary sex characteristics. (d) Spermatogenesis has failed in this patient because his testes are located in the inguinal canals instead of descending into the scrotum during fetal development. This can lead to impaired sperm production and infertility.
2. FSH secretion in this male is controlled by the negative feedback loop between the hypothalamus, pituitary gland, and testes. Low levels of testosterone and inhibin (produced by the testes) stimulate the hypothalamus to produce gonadotropin-releasing hormone (GnRH), which then stimulates the pituitary gland to release FSH.
3. LH secretion in this male is also controlled by the negative feedback loop between the hypothalamus, pituitary gland, and testes. Low levels of testosterone and inhibin stimulate the hypothalamus to produce GnRH, which then stimulates the pituitary gland to release LH.
4. Testosterone is directly responsible for male secondary sex characteristics, including the growth of facial and body hair, deepening of the voice, and muscle development.
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At May 31, 2019, H. J. Klehr Incorporated reported the following amounts (in millions) in its financial statements: Total Assets Total Liabilities Interest Expense Income Tax Expense Net Income 2019 $ 71,000 48,280 750 160 800 2018 $ 69,000 44,160 770 265 6,452 Required: 1. Compute the debt-to-assets ratio and times interest earned ratio for 2019 and 2018. 2-a. In 2019, were creditors providing a greater (or lesser) proportion of financing for H. J. Klehr's assets? 2-b. In 2019, was H. J. Klehr more (or less) successful at covering its interest costs, as compared to 2018?
Therefore, to answer the specific questions, in 2019, creditors provided a greater proportion of financing for H. J. Klehr's assets as the debt-to-assets ratio increased. However, H. J. Klehr was more successful at covering its interest costs in 2019, as compared to 2018, due to an increase in the times interest earned ratio.
The debt-to-assets ratio measures the percentage of total assets financed by debt. To compute the ratio, we divide total liabilities by total assets. In 2019, the debt-to-assets ratio for H. J. Klehr was 68.2% (48,280/71,000), and in 2018, it was 64% (44,160/69,000). The increase in the ratio suggests that H. J. Klehr relied more on debt financing in 2019.
The times interest earned ratio measures the ability of a company to cover its interest expenses with its earnings. To compute the ratio, we divide earnings before interest and taxes (EBIT) by interest expense. In 2019, the times interest earned ratio for H. J. Klehr was 15.3 times (800/750), and in 2018, it was 8.4 times (6,452/770). The increase in the ratio indicates that H. J. Klehr was more successful at covering its interest costs in 2019.
Therefore, to answer the specific questions, in 2019, creditors provided a greater proportion of financing for H. J. Klehr's assets as the debt-to-assets ratio increased. However, H. J. Klehr was more successful at covering its interest costs in 2019, as compared to 2018, due to an increase in the times interest earned ratio. It is essential to note that interest expenses are tax-deductible, which reduces the company's income tax expense.
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Select the correct answer. Ruby enjoys working with other people. She has excellent leadership, interpersonal, and communication skills that she would like to use in her future career. Which career would be the best fit for her based on her skills? A. Claims adjuster B. Training and development specialist C. Salesperson D. Financial analyst E. Billing clerk.
Based on Ruby's excellent leadership, interpersonal, and communication skills, a career as a training and development specialist would be the best fit for her.
As a training and development specialist, Ruby would have the opportunity to work with individuals and teams to assess their learning needs, design and deliver training programs, and evaluate their effectiveness.
Her strong leadership skills would allow her to guide and motivate learners, while her interpersonal skills would enable her to build positive relationships with employees at all levels. Additionally, her effective communication skills would facilitate the delivery of training materials and the ability to clearly convey information. Overall, Ruby's skills align well with the responsibilities and demands of a training and development specialist role.
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During the Iran-Iraq war, the same arms merchant often sold weapons to both sides of the conflict. In this situation, a different price could be offered to each side because there was little danger that the country offered the lower price would sell arms to its rival to profit on the difference in prices. Suppose a French arms merchant has a monopoly of Exocet air-to-sea missiles and is willing to sell them to both sides. Iraq's demand for Exocets is P = 400 – 0.5Q and Iran's is P = 300 – Q, where P is in millions of dollars. The marginal cost of Exocets is MC = Q. What price will be charged to each country?
The price French arms merchant will charge Iraq is 300 million dollars and Iran is 200 million dollars for the Exocet air-to-sea missiles.
To find the optimal prices charged to each country, the French arms merchant should maximize their profit by equating the marginal revenue (MR) to the marginal cost (MC) for each country.
For Iraq:
Demand: P = 400 - 0.5Q
To find MR, we first find the total revenue (TR) by multiplying P and Q, then differentiate TR with respect to Q.
TR = P * Q = (400 - 0.5Q) * Q
MR = d(TR)/dQ = 400 - Q
Now, equate MR to MC and solve for Q:
400 - Q = Q
Q = 200
Now, find the price for Iraq using the demand equation:
P = 400 - 0.5Q = 400 - 0.5(200) = 300 million dollars
For Iran:
Demand: P = 300 - Q
Follow the same process to find the MR:
TR = P * Q = (300 - Q) * Q
MR = d(TR)/dQ = 300 - 2Q
Now, equate MR to MC and solve for Q:
300 - 2Q = Q
Q = 100
Now, find the price for Iran using the demand equation:
P = 300 - Q = 300 - 100 = 200 million dollars
So, the French arms merchant will charge Iraq 300 million dollars and Iran 200 million dollars for the Exocet air-to-sea missiles.
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For each of the goods and services listed below, please determine whether or not advertising is an effective way to cover the cost of their provision Advertising Will Help Advertising Will Not Help The house you live inThe sandwich you Public Television ate for lunch The fireworks displays in your town on July 4th Lighthouses on the coast of Maine
Advertising will help cover the cost of providing the sandwich you ate for lunch and the fireworks displays in your town on July 4th.
1. The house you live in: Advertising is not an effective way to cover the cost of providing a house. This is because houses are typically not sold through advertising. Real estate agents may advertise properties, but the cost of the house is ultimately borne by the buyer, not the advertiser.
2. The sandwich you ate for lunch: Advertising is an effective way to cover the cost of providing a sandwich. Many food establishments advertise their products to attract customers and generate revenue. The cost of advertising can be factored into the price of the sandwich.
3. Public television: Advertising will not help cover the cost of providing public television. Public television is funded by donations and government funding, and is not supported by commercial advertising.
4. The fireworks displays in your town on July 4th: Advertising is an effective way to cover the cost of providing fireworks displays. Many companies sponsor firework displays and advertise their products or services during the event. This revenue can help offset the cost of providing the fireworks.
5. Lighthouses on the coast of Maine: Advertising will not help cover the cost of providing lighthouses. Lighthouses are typically owned and maintained by the government and are not supported by commercial advertising.
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As the Federal Funds Rate (aka Fed Rate, aka Prime Interest Rate) changes, bond prices generally change:a) In the same direction (for example, an increase in the Fed Funds Rate leads to an increase in bond prices)b) In whatever direction they desire (for example, bond prices increase without any changes to the Fed Funds Rate)c) In no direction (for example, a decrease in the Fed Funds Rate does not result in a change to bond prices)d) In the opposite direction (for example, a decrease in the Fed Funds Rate leads to an increase in bond prices)e) None of the above
When the Federal Funds Rate changes, bond prices generally change in the opposite direction.
For example, if the Federal Reserve increases the Fed Funds Rate, the price of existing bonds in the market will generally decrease because new bonds with higher interest rates are now available, making existing bonds with lower interest rates less attractive to investors. Conversely, if the Federal Reserve decreases the Fed Funds Rate, the price of existing bonds in the market will generally increase because new bonds with lower interest rates are now available, making existing bonds with higher interest rates more attractive to investors. This inverse relationship between bond prices and interest rates is an important concept in finance and investing.
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E9-19 (Algo) Calculating a Retirement Fund LO 9-7 You are a financial adviser working with a client who wants to retire in eight years. The client has a savings account with a local bank that pays 8% annual interest. The client wants to deposit an amount that will provide her with $1,008,000 when she retires. Currently, she has $303,200 in the account. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) How much additional money should she deposit now to provide her with $1,008,000 when she retires? (Round your answer to nearest whole dollar.) Additional deposit amount
To provide the client with $1,008,000 when she retires, additional deposit amount is $381,697.
To determine the additional deposit amount your client needs to reach her retirement goal, we will use the future value of a lump sum formula:
FV = PV * (1 + r)^n
Where:
FV = Future Value ($1,008,000)
PV = Present Value (the total amount currently in the account, plus the additional deposit)
r = Annual interest rate (0.08)
n = Number of years (8)
1. First, we need to calculate the future value of the current savings:
FV_current = $303,200 * (1 + 0.08)^8
FV_current ≈ $626,303
2. Next, we'll find the additional deposit needed by subtracting the future value of the current savings from the target retirement amount:
$1,008,000 - $626,303 ≈ $381,697
Therefore, your client needs to deposit an additional $381,697 now to provide her with $1,008,000 when she retires.
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One indication that President Biden intends to pursue some goals of the Green New Deal came when he announced: a. new efficiency standards for recreational motor vehicles b. a halt to new oil and gas leases on federal land c. federal support of the Keystone XL pipeline d. the adoption of zero-emission stealth bombers
The announcement that President Biden made, which indicates that he intends to pursue some goals of the Green New Deal, is option (b), a halt to new oil and gas leases on federal land.
The Green New Deal is a proposed set of economic stimulus programs in the United States with the goal of addressing both economic inequality and climate change. One of the main objectives of the Green New Deal is to transition the United States to a clean energy economy, which includes reducing the country's dependence on fossil fuels like oil and gas.
Halting new oil and gas leases on federal land is consistent with this goal. The move would limit the expansion of fossil fuel extraction, promote the development of clean energy sources, and reduce carbon emissions, which are key aspects of the Green New Deal.
Options (a), (c), and (d) are not consistent with the Green New Deal. Option (a) involves efficiency standards for recreational motor vehicles, which could help reduce emissions, but it does not address the root causes of climate change. Option (c) involves federal support for the Keystone XL pipeline.
Which would increase the production and transportation of oil, further entrenching the use of fossil fuels. Option (d) involves the adoption of zero-emission stealth bombers, which may help reduce emissions in the military sector but does not address broader environmental concerns.
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