Answer:
b. Economic strategy
Explanation:
Marketing mix refers to strategies used by companies to promote their products. They are factors which a company have control over such that consumers can be convinced to patronize its products. Marketing mix consist of Product, price, place and promotion, which are tools that create value and demand for a company's products to targeted customers.
•The product refers to goods and services sold to consumers. A company will introduce products that have value and highly demanded by consumers while dropping those that do not generate revenue.
• Price is the amount at which a product is offered for sale. A producer must offer it's product at a competitive price such that he is able to break even.
•Place refers to the availability of the product in the market. Right marketing channels and Distribution must be chosen inorder to reach the targeted customers.
• Promotion refers to marketing activities such as advertising, sales promotion, direct marketing, personal selling etc. The aim is to draw customers attention to a company's product and subsequently purchase those products.
With regards to the above scenario, the odd option is Economic strategy.
A corporation issued 5,600 shares of $10 par value common stock in exchange for some land with a market value of $82,000. The entry to record this exchange is:
Answer:
The entry for the exchange is therefore;
Dr Land $82,000
Cr common stock $56,000
Cr Paid in capital in excess of par value common stock $26,000
Explanation:
The land was gotten at a price of $82,000(its fair value)
Common stock issue = 5,600 shares x $10 par value common stock
= $56,000
Paid in capital in excess of par value common stock = $82,000 - $56,000
=$26,000
The entry for the exchange is therefore;
Dr Land $82,000
Cr common stock $56,000
Cr Paid in capital in excess of par value common stock $26,000
Scranton, Inc. reports net income of $260,000 for the year ended December 31. It also reports $100,700 depreciation expense and a $6,500 gain on the sale of equipment. Its comparative balance sheet reveals a $41,500 decrease in accounts receivable, a $18,750 increase in accounts payable, and a $14,500 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method.
Answer:
$399,950
Explanation:
The computation of cash provided (used) in operating activities using the indirect method is shown below:-
Cash flow from operating activities
Net income reported $260,000
Add: depreciation expenses $100,700
Less: gain on sale of equipment -$6,500
Add: decrease in accounts receivables $41,500
Add: increase in accounts payable $18,750
Less: decrease in wages payable -$14,500
Cash flow from operating activities $399,950
We simply added the cash inflows and deduct the cash outflows to reach out the operating activities
A progressive tax is one which
Answer:
A progressive tax is one which charges more tax for those with higher income.
The amount of tax paid depends on the general income of the person.
What special asset does Heartland Telecom's acquisition of Surety Wireless identify? The acquisition identifies the asset goodwill . How should Heartland Telecom account for this asset after acquiring Surety Wireless? Explain in detail. Heartland Telecom should measure the ▼ of this asset each year. If this asset has increased in value, Heartland should ▼ . If the value of the asset has decreased, Heartland should
Answer: 1. Goodwill
2. a. Record no entry in the books
b. Record a loss in the books
Explanation:
1. The Special asset created by Heartland Telecom's acquisition of Surety Wireless is Goodwill.
Goodwill is the difference between what the company was worth and what it was purchased for if the purchase price was higher than the worth (market value).
2. a. Goodwill should be accounted for by recoding it in the Long term Assets under Intangible Assets in the balance sheet. It should not be amotrized. If Goodwill increases, there should be no recording this gain on the books.
b. If the value of the asset has decreased, Heartland should record a loss in the books to represent the loss on this account.
May 1: Prepaid rent for three months, $3,000 May 5: Received and paid electricity bill, $130 May 9: Received cash for meals served to customers, $1,870 May 14: Paid cash for kitchen equipment, $2,990 May 23: Served a banquet on account, $2,520 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $2,590 May 31: Recorded depreciation for May on kitchen equipment, $740 If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.
Answer:
-$850
Explanation:
The computation of the net income or loss using the cash method is shown below:
= Received cash from customers - accrued salary expense - paid electricity bill
= $1,870 - $2,590 - $130
= -$850
As we can see that the total of expenses is more than the revenue generated so it would be the net loss and the same is to be shown in a negative sign
Hence, the net loss is of -$850
What are the components of an attitude?
A. A belief, a feeling, and a tendency to act
B. Values and reference groups
C. A beliefs, a value, and a custom
O D. Five levels of needs
Answer:
A. A belief, a feeling, and a tendency to act
Explanation: Research on humans has shown that
Attitude is made up of three components:
Affective Feelings andemotions about the attitude object; behavioral, that is behavior one exhibits when faced with the object; ( cognitive, the thoughts and beliefs one has about the object )The correct option is A. A belief, a feeling, and a tendency to act are the components of an attitude.
Three elements are believed to make up attitudes: an emotional element of feeling, a behavioral element of how the attitude affects conduct, and an intellectual element of beliefs and knowledge.
What is the importance of attitude?Your viewpoint has a significant impact on a number of things, including your ability to overcome challenges, productivity, earning potential, social life, and more. A positive outlook can make achieving success in these numerous spheres of life much easier, resulting in substantial advantages that can greatly raise your quality of life.
Characteristics of attitude include: Attitudes are the intricate fusion of what we term personality, beliefs, values, behaviors, and motives. Anywhere from highly favorable to very unfavorable can be considered to be where it falls on the continuum. No matter their social standing or intellectual ability, attitudes are a universal human trait.
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Prepare the journal entries to record the following transactions on Markowitz Company’s books using a perpetual inventory system.
On February 6, Markowitz Company sold $75,000 of merchandise to the Lyman Company, terms 2/10, net /30. The cost of the merchandise sold was $50,000. On February 8, the Lyman Company returned $10,000 of the merchandise purchased on February 6. The cost of the merchandise returned was $5,000. On February 16 Markowitz Company received the balance due from the Lyman Company.
Answer:
Journal entries for Markowitz Company’s books are given below
Explanation:
February 6
Debit Credit
Receivable $75000
Sales $75000
Debit Credit
Cost of good sold $50,000
Inventory $50,000
February 8
Debit Credit
Sales Return $10,000
Receivable $10,000
Debit Credit
Inventory $5,000
Cost of good sold $5,000
February 16
Debit Credit
Cash $63,700
Sale discount $1300
Receivable 65,000
Workings for february 16
Discount = 65,000 x 2% = 1300
Cash = 65000 x 98% = 63,700
Account Receivable = 75,000 - 10,000 = 65,000
Bermuda Cruises issues only common stock and coupon bonds. The firm has a debt–equity ratio of .75. The cost of equity is 11.6 percent and the pretax cost of debt is 6.7 percent. What is the capital structure weight of the firm's equity if the firm's tax rate is 40 percent?
Answer:
the capital structure weight of the firm's equity will be 57.14 %.
Explanation:
Weighted Average Cost of Capital is the return that is required by the providers of long term sources of finance.
A debt–equity ratio of 0.75 means:
Debt : Equity = 0.75 : 1
The Total Ratio will be = 0.75 + 1.00
= 1.75
Therefore, the capital structure weight of the firm's equity will be :
Equity Weight = Equity Ratio ÷ Total Ratio
= 1.00 ÷ 1.75
= 0.5714 or 57.14 %
According to Nikki, the design and development manager at Holden Outerwear, it is difficult for the company to push its vendors toward new developments because the vendors:
Answer: b. do not want to develop products that may not get used.
Explanation:
According to the case study, Manager Nikki Brush tells of how they introduce new ways of doing things by being able to encourage and push their vendors in a way that they are not used to. She does admit though that it is getting harder to do so because the vendors are seeing their costs rise and don't want to make goods that people might not want to use because they are new and untested.
The Case in question is attached.
We argued that when the economic growth in the US is greater than the (economic) growth rates of our trading partners, the trade deficit in the US should get larger, all else constant.
a. True
b. False
Answer:
The correct answer is the option B: False.
Explanation:
To begin with, given the fact that the economic growth of the United States is greater than the economic growth rates of its trading partners then the trade deficit in the US should get smaller, all else constant due to the fact that the economy is growing at a level that is higher than does of the partners and therefore that when that happens the country will be in a better position and the production of it will increase as expected and that will impact positively in the deficit by reducing it to small amounts.
In a period of steadily rising prices (meaning the cost to purchase inventory is increasing over time), what would be the implications of choosing FIFO vs. LIFO
Answer:
So choosing FIFO would yield the highest profit and net income.
Explanation:
When the purchase price is continuously rising the
FIFO assigns the lowest amount to cost of goods sold- yielding the highest gross profit and net income.LIFO assigns the highest amount to the cost of goods sold -yielding the lowest gross profit and net income.So choosing FIFO would yield the highest profit and net income.
FIFO assigns an amount to inventory closely approximating current replacement cost. First in First out charges costs to items old assuming that the earliest units purchased are first units sold.
On January 1, 2013, the balance in Tabor Co.'s Allowance for Bad Debts account was $13,501. During the first 11 months of the year, bad debts expense of $21,413 was recognized. The balance in the Allowance for Bad Debts account at November 30, 2013, was $9,896. Required: (a) What was the total of accounts written off during the first 11 months? (Hint: Make a T-account for the Allowance for Bad Debts account.) (b) As the result of a comprehensive analysis, it is determined that the December 31, 2013, balance of the Allowance for Bad Debts account should be $9,276. Show the adjustment required in the journal entry format.
Answer:Total of accounts written off=$25, 018, part b is in the explanation column
Explanation:
Total of accounts (Bad debt) written off=Opening Balance in bad debt allowance account+
bad debt expense recognized during the period −
Closing balance in bad debt allowance account
=$13,501+$21,413−$9,896
=$25, 018
T---account
Allowance for bad debts
$13,501 Balance from Jan 1st
$21,413 Bad debts expense
Bad debts written off $25, 018
$9,896 Balance on November 30
b)Adjusted journal entry for change in amount of allowance for bad debt account
December 31st 2013 Account Debit Credit
Allowance for bad debts $620
Bad debts expense $620
calculation
The balance in allowance for bad debt account as on November 30 is $9 896 , when it was supposed to be $9,276. Therefore the bad debt expense is overstated by
$9,896- $9, 276 = $620
You are a real estate agent thinking of placing a sign advertising your services at a local bus stop. The sign will cost $ 5 comma 500 and will be posted for one year. You expect that it will generate additional revenue of $ 935 a month. What is the payback period? g
Answer:
5.34 months
Explanation:
Pay back period calculates how long it takes for the amount invested in a project to be recovered from the cumulative cash flows.
Payback period = amount invested / cash flows
$5000 / $ 935 = 5.34 months
I hope my answer helps you
Wallace and Simpson formed a partnership with Wallace contributing $96,000 and Simpson contributing $76,000. Their partnership agreement calls for the income (loss) division to be based on the ratio of capital investments. The partnership had income of $215,000 for its first year of operation. When the Income Summary is closed, the journal entry to allocate partner income is: (Do not round intermediate calculations.)
Answer:
Dr Income summary 215,000
Cr Wallace, capital 120,000
Cr Simpson, capital 95,000
Explanation:
When a business has made a profit, the income summary account must have a debit balance before closing it. That way, when you close it, you credit the income summary account and debit the retained earnings or capital accounts in this case.
Wallace = (96 / 172) x $215,000 = $120,000
Simpson = (76 / 172) x $215,000 = $95,000
Problem 20: In the year 2001, product A was sold. for $300 per
unit making a gross profit of 20% on sales. The total
production cost was made up of 25% of direct material, 40%
of direct labor, and 35% of factory overhead. Due to general
rise in prices in 2002, the selling price of the product
increased by 15%. The cost of production has also increased
resulting in increase of Material, Labor, and factory overhead
costs by 10%, 15%, and 12% respectively. What will be the
gross profit per unit in 2002?
Answer:
74.52
Explanation:
price= 300
lets assume there were 100 units
old new
sales 30000 34500
Gross profit 6000 7452
Prod cost 24000 27048
DM 6000 6600
DL 9600 11040
OH 8400 9408
Total 24000 27048
new price= 300x115% = 345
so gross profit per unit will be = 7452/100 = 74.52
Mountain Lake Corporation's accounting records show the following at year-end December 31, 2014:
Purchase Discounts $7,230 Beginning Inventory $32,660
Freight-In 8,730 Ending Inventory 29,170
Freight-Out 12,260 Purchase Returns and Allowances 4,190
Purchases 164,250
Assuming that Mountain Lake Corporation uses the periodic system, compute the cost of goods purchased and cost of goods sold.
1. Cost of goods purchased$=?
2. Cost of goods sold$=?
Answer:
Cost of goods purchased= $161,560
Cost of goods sold= $165,050
Explanation:
1. Cost of goods purchased (net) = Purchases - Purchase discount - purchase returns and allowances + Freight in
= $164,250 - $7,230 - $4,190 + $8,730
=$161,560
2. Cost of goods sold = Beginning inventory + Net purchase - Ending inventory
= $32,660 + $161,560 - $29,170
= $165,050
If the average market price for an item is higher than the equilibrium price,
which of the following is likely to take place?
A. The price will increase drastically.
B. Supply and demand will be equal.
C. Consumers will buy all of the product supply and not be satisfied.
D. More product will be produced than consumers want to purchase.
Answer:
D. More product will be produced than consumers want to purchase.
Explanation:
The supply curve for any good slopes upward: the higher the price, the more quantity is produced.
The demand curve for any good slopes downward: the higher the price, the less quantity is produced.
For this reason, if the average market price is higher than the equilibrium price (the equilibrium price is the price where supply and demand are equal), then, supply will be higher than demand, because producers will be enticed by the higher price.
However, this supply will not meed demand, creating excess output, or excess supply.
Answer:
d.
Explanation:
The part of an industry's value chain that is most important to a company and the point where its greatest expertise and capabilities lie is called the company's R&D intensity. center of gravity. economy of scope. functional crossroads. dynamic equilibrium.
Answer:
center of gravity.
Explanation:
The part of an industry's value chain that is most important to a company and the point where its greatest expertise and capabilities lie is called the company's center of gravity.
Generally, the center of gravity of a company is usually the point at which it started business. The center of gravity of a company defines its strengths, success, achievement and dominant operations.
For any successful business, there is always a center of gravity. This is the point or stage where all of the strategic decisions, greatest expertise, risks management and capabilities lie.
Hence, should there be an error, disagreement or disarray at the center of gravity, then the company is headed for losses and bankruptcy.
Assume that the probability of a driver getting into an accident is 3.4%, the
average cost of an accident is $11,116.37, and the overhead cost for an
insurance company per insured driver is $170. What should this driver's
insurance premium be?
The correct answer is $547.96
Why is this the correct answer?Total cost is = (3.4% × $11,116.37) + $ 170The equation is Fixed cost + Variable cost , where the overhead cost becomes the fixed cost.What is variable cost?A variable cost is a corporate expense that changes in proportion to how much a company produces or sells. Variable costs increase or decrease depending on a company's production or sales volume they rise as production increases and fall as production decreases.
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Stock market prices plunged tremendously in 1929, contributing to the Great Depression as the AD curve shifted greatly to the left. The ordinary AS/AD model predicts that a falling short-run aggregate supply would bring deflation and move the economy back to potential output. Which of the following describes the impact of dynamic feedback effects on this return to potential output?
a. expectations that stock prices would rise back again would cause the AD curve to shift left.
b. expectations that stock prices would fall further could shift the AD curve further to the left.
c. expectations that stock prices will fall further would cause the AD curve to shift to the right.
d. falling stock prices would make people feel poorer which would cause the AD curve to shift to the right.
Answer:
b. expectations that stock prices would fall further could shift the AD curve further to the left.
Explanation:
The AS/ AD model stated the aggregate supply and aggregate demand model which stated level of prices and its output by maintaining the relation between the supply and demand
As in the given situation, it is mentioned that the aggregate supply of short run decline and that brings deflation and it moves the economy back to the output i.e potential. It impacts the expectation of stock prices would result in declines and further it shifted the AD curve to the left side
Hence, the correct option is B.
You work for a marketing firm that has just landed a contract with Run-of-the-Mills to help them promote three of their products: guppy gummies, frizzles, and mookies. All of these products have been on the market for some time, but, to entice better sales, Run-of-the-Mills wants to try a new advertisement that will market two of the products that consumers will likely consume together. As a former economics student, you know that complements are typically consumed together while substitutes can take the place of other goods. Run-of-the-Mills provides your marketing firm with the following data: When the price of guppy gummies increases by 5%, the quantity of frizzles sold decreases by 4% and the quantity of mookies sold increases by 5%. Your job is to use the cross-price elasticity between guppy gummies and the other goods to determine which goods your marketing firm should advertise together. Complete the first column of the following table by computing the cross-price elasticity between guppy gummies and frizzles, and then between guppy gummies and mookies. In the second column, determine if guppy gummies are a complement to or a substitute for each of the goods listed. Finally, complete the final column by indicating which good you should recommend marketing with guppy gummies. Relative to Guppy Gummies Recommend Marketing with Guppy Gummies Cross-Price Elasticity of Demand Complement or Substitute Frizzles Mookies
Answer:
Cross Price Elasticity of Demand is a measure of the complimentary or substitutional nature of two goods. It enables one to know if goods go together or are replacements for each other.
When the Cross Price Elasticity is Positive then both of the goods are Substitutes.
This is because when the price of one increased, some people abandoned it and went to the other one which then increased the demand of the latter.
If the Cross Price Elasticity is negative then both the goods are compliments because when the price of one increased, people decided to stop buying it and because the other good is a compliment (goes together) people didn't buy the latter either thereby reducing its demand.
The formula for Cross Price Elasticity is,
= % Change in Quantity Demanded of Good A / % Change in price of Good B
Guppy Gummies and Frizzles.
= -4%/ 5%
= - 0.8%
Cross Price Elasticity is Negative so they are Compliments.
It IS RECOMMENDED to market Frizzles with Guppy Gummies.
Guppy gummies and Mookies
= 5% / 5%
= 1
Cross Price Elasticity is positive so these are Substitutes.
It is therefore NOT recommended to market Mookies with Guppy Gummies.
Frances is a retired teacher who lives in Denver and does some consulting work for extra cash. At a wage of $50 per hour, she is willing to work 10 hours per week. At $65 per hour, she is willing to work 19 hours per week. Using the midpoint method, the elasticity of Jake’s labor supply between the wages of $50 and $65 per hour is approximately _______ , which means that Jake’s supply of labor over this wage range is ______ .
Answer:
Midpoint elasticity = 2.38
Supply of labor is Elastic
Explanation:
Midpoint elasticity = (Change in labor supplied / Average labor supplied) / (Change in wage rate / Average wage rate)
When Change in labor supplied= 19-10=9
Average labor supplied=(19+10)/2 =14.5
Change in wage rate=65-50=15
Average wage rate =(65 + 50)/2=57.5
Midpoint elasticity = (9/14.5) / (15/57.5)
= 0.62/0.26
= 2,3846
= 2.38
Since elasticity is higher than 1, supply of labor is Elastic.
Why Does Marketing Matter?
Answer:
Marketing matters because it educates, builds awareness and establishes initial connections.
Explanation:
Refer to highlight change metrics which of the following statements best describes why the business leaders altered their approach to the organizational crisis?
Answer:
A. Upon assessment of the competitive environment using evidence-based analytics, Continental's leaders recognized that the organization's emphasis was misplaced, and changed its strategic objectives
Explanation:
Evidence-based analytics refers to the method for decision making on a plan, procedure or policy based on the best available empirical evidence and guided by field-based experiential evidence and applicable contextual data.
It provides problem-solving based on research. This can be used to make such good decisions about crisis management within an organisation. It's used by successful leaders to make sound business decisions.
Therefore the correct answer is A.
Under which model of oligopoly are firms more likely to engage in a price war, driving down prices to marginal cost and resulting in no profit?
Answer:
The price leardership model of oligopoly
In choosing between the range of alternative investments typically available to U.S. households, which of the following will play a role in influencing their selection of a particular investment type?
a. the expected rate of return, risk and liquidity of each kind of investment.
b. the interest rate and the expected rate of return.
c. the form of dividends, angel investor, future expectations.
Answer:
b. the interest rate and the expected rate of return.
Explanation:
For choosing the type of particular investment it is necessary to check the interest rate and the expected rate of return as every investor wants that there is a less interest rate, less or moderate risk but high rate of return and according to this they made the selection
Therefore the option b is correct
If during the signing appointment the borrower divulges that the property being financed is an investment property, while the loan papers indicate it is for a primary residence, the Notary Signing Agent should:
Answer:
contact the lender's representative immediately before signing the documents.
Explanation:
The above is an example of Actual or Potential misrepresentation which falls under Code of Conduct 5.10. Once a notary signing agent notices that during the signing appointment, the information provided by the borrower differs from what is on the loan document, he should immediately report such false misrepresentation (potential or actual misrepresentation or falsehood known) witnessed by the NSA in connection with a transaction to the representative of the NSA.
By contacting the lender's representative, the purpose for obtaining the loan will be confirmed whether the property being financed is an investment property or for a primary residency otherwise the notary signing agent will be held responsible for any infraction if his signature is appended because he is expected to verify the authenticity of the information provided.
A company's product sells at $12.30 per unit and has a $5.45 per unit variable cost. The company's total fixed costs are $96,500. The break-even point in units is:
Answer:
Break-even point in units= 14,088 units
Explanation:
Giving the following information:
A company's product sells at $12.30 per unit and has a $5.45 per unit variable cost. The company's total fixed costs are $96,500.
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 96,500/ (12.3 - 5.45)
Break-even point in units= 14,088 units
The chief executive officer of Oracle defends his practice to hire private investigators to sift through the garbage of which competitor?
Complete Question:
The chief executive officer of Oracle defends his practice to hire private investigators to sift through the garbage of which competitor?
A) Red Hat
B) McAfee
C) Norton
D) Microsoft
Answer:
D) Microsoft
Explanation:
In this scenario, the chief executive officer of Oracle defends his practice to hire private investigators to sift through the garbage of its competitor, Microsoft.
This is simply an example of competitive intelligence research.
A competitive intelligence can be defined as the systematic ability to collect, analyze, and use information collected on business environment, customers, competitors, and other market factors owing to another firm's competitive advantage. In order to gather such essential informations, companies would need the services of private investigators or a market intelligence consultant to glean information from their rivals in the same industry.
Both Microsoft and Oracle are both multinational computer technology firms that offer similar services such as cloud storage.
Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows: Required: 1-a. Complete the final two columns of the table. Ending Inventory Item Quantity on Hand Total LC&NRV Alligator Armoires Bear Bureaus Cougar Beds Dingo Cribs Elephant Dressers Unit Cost Net When Realizable LC&NRV Acquired Value at per Item (FIFO) Year-End $ 25 $ 22 50 6062 40 40 20 1 6 20 40 450 1-b. Compute the amount that should be reported for the ending inventory using the LC&NRV rule applied to each item. Ending inventory 2. Prepare the journal entry that Peterson Furniture Designs would record on December 31.
Answer:
Peterson Furniture Designs
Ending Inventory
Q Purchase cost NRV Total LC&NRV
Alligator Armoires 60 $25 $22 $1,320
Bear Bureaus 85 $50 $50 $4,250
Cougar Beds 20 $60 $62 $1,200
Dingo Cribs 40 $40 $40 $1,600
Elephant Dressers 450 $20 $16 $7,200
Total $15,570
The value of the ending inventory using lower of cost or net realizable value (LCNRV) is $15,570. The individual LCNRV is underlined for each item.
Since the purchase cost ($17,550) is higher than the ending inventory, the journal entry should be:
December 31, 202x, adjusting value of ending inventory
Dr Cost of goods sold 1,980
Cr merchandise inventory 1,980