Answer:
Ronald, the Librarian
What Ronald is doing "is an illustration of" Networking in practise.
Explanation:
According to investopedia.com, "Networking is the exchange of information and ideas among people with a common profession or special interest, usually in an informal social setting. Networking often begins with a single point of common ground."
The advantages of networking include, strengthening connections through information sharing, acquisition of fresh ideas, knowledge, and perspectives, avenue for career advancement and access to job opportunities, and the reception of career advice and support. It also builds one's confidence through the process of interaction with more knowledgeable professionals. Those who seek, find. And "iron sharpens iron," as people rob minds.
Networking also helps to develop and improve skill set, stay on top of the latest trends in your industry, keep a pulse on the job market, meet prospective mentors, partners, and clients, and gain access to the necessary resources that will foster your career development.
If a Starbucks tall latte cost $3.20 in the United States and 3 euros in the Euro area, then purchasing-power parity implies the nominal exchange rate is how many euros per dollar?
a. .938 If the exchange rate is less than this, it costs more dollars to buy a tall latte in the U.S. than in the Euro area.
b. .938 If the exchange rate is less than this, it costs fewer dollars to buy a tall latte in the U.S. then in the Euro area.
c. 1.067 If the exchange rate is less than this, it costs more dollars to buy a tall latte in the U.S. than in the Euro area.
d. 1.067 If the exchange rate is less than this, it costs fewer dollars to buy a tall latte in the U.S. than in the Euro area.
Answer:
a. .938 If the exchange rate is less than this, it costs more dollars to buy a tall latte in the U.S. than in the Euro area.
Explanation:
We can see in the example that the Euro is cheaper than the dollar in purchasing-power parity. More specifically, the exchange rate is .938 euros per dollar.
This is why it is more expensive to buy a tall latte in the U.S. than in Europe. The Euro is cheaper.
Tri Fecta, a partnership, had revenues of $364,000 in its first year of operations. The partnership has not collected on $45,100 of its sales and still owes $38,400 on $220,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $28,300 in salaries. The partners invested $46,000 in the business and $25,000 was borrowed on a five-year note. The partnership paid $3,000 in interest that was the amount owed for the year and paid $9,400 for a two-year insurance policy on the first day of business. Ignore income taxes.Compute the cash balance at the end of the first year for Tri Fecta.
a) $ 332,110
b) $ 161,640
c) $ 166,290
d) $ 155,440
Answer:
$167,600
Explanation:
Net income:
Sales revenue $364,000
- COGS $220,000
- Salaries $28,300
- Interest $3,000
- Insurance $4,700
Net Income $108,000
Cash flow from operating activities:
Net income $108,000
adjusting entries:
accounts receivable ($45,100)accounts payable $38,400prepaid insurance ($4,700)Net cash flow from operating activities $96,600
Cash flow from financing activities:
capital invested $46,000
money borrowed $25,000
Net cash flow from financing activities $71,000
Cash balance $167,600
A business received an offer from an exporter for 10,000 units of product at $13.50 per unit. The acceptance of the offer will not affect normal production or domestic sales prices. The following data are available: Domestic unit sales price $21 Unit manufacturing costs: Variable 12 Fixed 5 What is the amount of the gain or loss from acceptance of the offer
Answer:
Effect on income= $15,000 increase
Explanation:
Giving the following information:
A business received an offer from an exporter for 10,000 units for $13.50 per unit.
Unit manufacturing costs:
Variable 12
Because it is a special offer and there is unused capacity, we will not take into account the fixed costs.
Effect on income= number of units*unitary contribution margin
Effect on income= 10,000*(13.5 - 12)
Effect on income= $15,000 increase
In Ricci v. DeStefano, Ricci, a white firefighter, took and passed the City of New Haven firefighter's test, required of all applicants for promotion in the city's fire department. The test was thrown out when it was discovered that minorities scored poorly and the city feared a disparate impact-based lawsuit. How did the court rule?
A) An employer may not simply disregard a test based on unwanted results unless the test is shown to be biased or deficient.
B) Even though the test was prepared by a professional testing organization, the city has the right to reject the test results if minorities do not score adequately
C) Deliberately oversampling minorities to seek to create a fair test is irrelevant if the test results show that minorities still scored poorly
D) Ricci, as a member of the white majority, had no grounds to sue when the city was seeking the legitimate aim of nondiscrimination
Answer:
The correct answer is A. In Ricci v. DeStefano, the Supreme Court ruled that an employer may not simply disregard a test based on unwanted results unless the test is shown to be biased or deficient.
Explanation:
Ricci v. DeStefano is a Supreme Court ruling of 2009, after a lawsuit by nineteen firefighters who claimed to have been discriminated against in terms of career development. They denounced that they had been discriminated after having passed the admission tests and still had not been promoted, since no African-American candidate had passed the tests. They also denounced that they had not been promoted because the Fire Department did not want to promote a group of new recruits without including within it any member of racial minorities.
Finally, the Supreme Court established that said procedure violated Title VII of the Civil Rights Act of 1964, since in the case equal access to employment was not guaranteed (in this case, favoring minorities over white firefighters), for set different demands for purely racial reasons.
Athena Company's salaried employees earn two weeks of vacation per year. It pays $858,000 in total employee salaries for 52 weeks but its employees work only 50. Record Athena Company's weekly journal entry to record the vacation expense:
Answer:
Answer is Debit Vacation Benefits Expense $660 Credit Vacation Benefits Payable $660
Explanation:
Athena Company's salaried employees earn two weeks of vacation per year. It pays $858,000 in total employee salaries for 52 weeks but its employees work only 50. Record Athena Company's weekly journal entry to record the vacation expense:
Annual salary is $858,000 in total
The total no of weeks is 52 weeks
858,000 wages per year / 52 weeks per year = 16,500 per week
So per week salary is
The weekly wages for our employees are 16,500 dollars
For each of the two weeks of vacations , will be $ 16500 x 2
= $33,000
For weekly vacation expense
sice its for 50 weeks
= $33000 / 50
= $660
Therefore, Debit Vacation Benefits Expense $660 Credit Vacation Benefits Payable $660
Jason just joined a new gym and signed up for a one-year membership. Membership fees can be paid in 12 monthly payments of $50, due at the beginning of each month or in one payment today. If the appropriate interest rate is 11%,.How much should he pay today for the annual membership?
Answer:
$570.91
Explanation:
For computing, the amount pay today for the annual membership we just need to apply the present value formula i.e to be shown in the attachment
Provided that
Future value = $0
Rate of interest = 11% ÷ 12 months = 0.916666%
NPER = 12 months
PMT = $50
The formula is shown below:
= PV(Rate;NPER;PMT;FV;type)
So, after applying the above formula, the amount paid today for the membership is $570.91
Nielson Motors is considering an opportunity that requires an investment of $1,000,000 today and will provide $250,000 one year from now, $450,000 two years from now, and $650,000 three years from now. If the appropriate interest rate is 15%, then Nielson Motors should
Answer:
The NPV is - $14958.49 . The opportunity should not be pursued as the NPV of the project discounted at the interest rate of 15% comes out to be negative . Thus, Nielson Motors should not proceed with the project.
Explanation:
To determine whether the project should be accepted or not, we need to calculate the NPV or Net Present Value of the project. If the NPV is positive, the project should be accepted.
The formula to calculate the NPV is attached.
NPV = - 1000000 + 250000 / (1 + 0.15) + 450000 / (1 + 0.15)² +
650000 / (1 + 0.15)³
NPV = - $14958.49429
The opportunity should not be pursued as the NPV of the project discounted at the interest rate of 15% comes out to be negative. Thus, Nielson Motors should not proceed with the project.
Roman Mfg.'s July production involved actual direct labor costs of $41,514 for 3,400 direct labor hours. The budget for the July level of production called for 3,500 direct labor hours at $12.20 per hour, using a standard cost system.
1. Roman's labor rate variance for July is ____________
2. Roman's labor efficiency variance for July is _______________
Answer:
Instructions are below.
Explanation:
Giving the following information:
Roman Mfg.'s July production involved actual direct labor costs of $41,514 for 3,400 direct labor hours. The budget for the July level of production called for 3,500 direct labor hours at $12.20 per hour.
To calculate the direct labor efficiency and rate variance, we need to use the following formulas:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (3,500 - 3,400)*12.2
Direct labor time (efficiency) variance= $1,220 favorable
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Actual rate= 41,514/3,400= $12.21
Direct labor rate variance= (12.20 - 12.21)*3,400
Direct labor rate variance= $34 unfavorable
An investor is considering the purchase of a residential rental property that has an asking price of $400,000. The property has four rental units that are expected to rent for $1,200 each per month. Operating expenses and vacancy allowances are expected to be 45% of gross income. An 5% interest only mortgage loan is available for 5 years at 100% of the purchase price. How much cash income will the investor receive each month of the first year after paying the monthly mortgage payment
Answer:
The answer is $973
Explanation:
Solution
Given that:
A residential rental property asking price = $400,000
Property expected to rent = $1200
Operating expenses expected = 45%
Interest =5%
Mortgage loan available for =5 years
Purchase price =100%
Now, we find out the cash income the investor receive each month of the first year after paying the monthly mortgage payment
Thus
Rental income (1200*4 units)=$4800
Less: operating expenses (4800*45%)=$2160
The Net income per month=$2640
So,
Less:Monthly mortgage interest payment=$1667 [(400000*5%)
=20000/12=1667]
The Cash income =$973
Therefore the investor will receive $973 each month of the first year.
Typically, the firms' lowest cost source of financing is ____________ as its cost is tax deductible and it also tends to offer the least amount of risk for investors. Group of answer choices Debt Preferred Equity Derivatives Common Equity Equity
Answer:
Debt
Explanation:
Debt is the lowest cost source of financing because the interest return given to holders of debt has a tax shield (tax deductible) that is provided by the Section 11j of the Income tax Act.
The other sources of finance give a return in form of dividends. Dividends are are not tax deductible hence they attract a huge cost.
On 12/31/X4, Zoom, LLC, reported a $55,500 loss on its books. The items included in the loss computation were $27,000 in sales revenue, $12,000 in qualified dividends, $19,000 in cost of goods sold, $47,000 in charitable contributions, $17,000 in employee wages, and $11,500 of rent expense. How much ordinary business income (loss) will Zoom report on its X4 return
Answer:Ordinary Business income loss =-$20,500.
Explanation:
Ordinary business Expenses are the expenses generally accepted according to the industry standards associated with running of a business.
Here, the ordinary business expenses for Zoom include
cost of good sold= $19,-000
employee wages= $17,000
rent expense = $11,500 and therefore will be deducted from its sales revenue.
charitable contributions and qualified dividends, do not cut across all industries and so are not classified under Ordinary Buisness expences.
Ordinary Business income loss = Sales revenue - cost of good sold, -employee wages- rent expense.
$27,000- $19,000-$`17,000-$11,500= -$20,500. to be reported on its X4 return
Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the sales journal.
May:
2 Sold merchandise costing $280 to B. Facer for $420 cash, invoice no. 5703.
5 Purchased $2,750 of merchandise on credit from Marchant Corp.
7 Sold merchandise costing $756 to J. Dryer for $1,096, terms 2/10, n/30, invoice no. 5704.
8 Borrowed $8,000 cash by signing a note payable to the bank.
12 Sold merchandise costing $189 to R. Lamb for $302, terms n/30, invoice no. 5705.
16 Received $1,074 cash from J. Dryer to pay for the purchase of May 7.
19 Sold used store equipment (noninventory) for $900 cash to Golf, Inc.
25 Sold merchandise costing $330 to T. Taylor for $518, terms n/30, invoice no. 5706.
Required:
Journalize the May transactions that should be recorded in the sales journal assuming the perpetual inventory system is used.
Answer and Explanation:
The Preparation of the sales journal is prepared below:-
Finer Company
Sales Journal
Date Account Invoice Accounts Cost of goods
Debited Number Receivable Dr. Sold Dr.
Credit sales Credit inventory
May 7 J. Dryer 5704 $1,096 $756
May 12 R. Lamb 5705 $302 $189
May 25 T. Taylor 5706 $518 $330
A package delivery service uses vans and employees to deliver the maximum number of packages given a fixed budget. The last van added 600 packages to total output, while the last employee added 500 packages. If vans cost exist400 per week and employees earn exist300 per firm:________.
a. could deliver more packages with the same budget by using more employees and fewer Vans
b. could deliver more packages the same budget by using more vans and fewer with employees
c. use more vans and fewer employees because the last dollars spent on vans added more to total output than the last dollar spent on employees
d. is delivering the maximum number of packages given the fixed budget
e. both b and c
Answer: e. both b and c
Explanation:
Van delivered 600 per week and cost $400.
The cost per package for the Van is;
= 600/400
= $1.5 per package
Employees delivered 500 and cost $300 which means the cost per package is;
= 500/300
= $1.67 per package.
The results show that it costs more to deliver with Employees ($1.67) than with the Vans ($1.5). Using more Vans will therefore allow for more packages to be delivered using a fixed budget as the last dollar spent on Vans gave more output than the last dollar spent on Employees.
Sexton Corp. has current liabilities of $510,000, a quick ratio of .93, inventory turnover of 6.9, and a current ratio of 1.5. What is the cost of goods sold for the company?
Answer:
The cost of goods sold for the company is $2,005,830.
Explanation:
This can be calculated from the available information using the following steps:
Step 1: Calculation of Current Assets
To do this, we use the current ratio formula as follows:
Current ratio = Current Assets / Current Liabilities
Substituting the values in the question into the equation above and solve for Current Assets, we have:
1.5 = Current Assets / $510,000
Current Assets = $510,000 * 1.5 = $765,000
Step 2: Calculation of Inventory
To do this, we use the Quick Ratio formula as follows:
Quick ratio = (Current Assets - Inventory) / Current Liabilities
Substituting the values in the question and from Step 1 into the equation above and solve for Inventory, we have:
0.93 = ($765,000 - Inventory) / $510,000
0.93 * $510,000 = $765,000 - Inventory
$474,300 = $765,000 - Inventory
$474,300 + Inventory = $765,000
Inventory = $765,000 - 474,300 = $290,700
Note that this inventory of $290,700 is the ending inventory.
Step 3: Calculation of Cost of Goods Sold
To do this, we use the Inventory Turnover formula as follows:
Inventory turnover = Cost of goods sold / Average Inventory
Note that average Average Inventory is the addition of the beginning and closing inventory divided by 2. But since the beginning inventory is not available, the practice is to use the ending inventory in place of the average inventory. This is what we do here below.
Substituting the values in the question and from Step 2 into the equation above and solve for Cost of goods sold, we have:
6.9 = Cost of goods sold / $290,700
Cost of goods sold = 6.9 * $290,7000 = $2,005,830
Therefore, the cost of goods sold for the company is $2,005,830.
Hubert: Demand decreased, but it was perfectly inelastic. Kate: Demand decreased, but supply was perfectly inelastic. Manuel: Demand decreased, but supply increased at the same time. Poornima: Supply increased, but demand was perfectly inelastic. Shen: Supply increased, but demand was unit elastic. Who could possibly be right
The complete part of the question.
The price of coffee fell sharply last month, while the quantity sold remained the same. Five people suggest various explanations
Answer:
Kate, Manuel and Poornima
Explanation:
Given that, the price of coffee fell but the quantity sold remained the same.
1. Hubert: Demand decreased, but it was perfectly inelastic.
If an elastic demand shifts the demand curve will move to the left. This would cause both prices as well as quantity to decline. So HUBERT's statement is not correct.
2. Kate: Demand decreased, but supply was perfectly inelastic.
This can be true, because of the inelastic supply curve. If the supply curve is an inelastic vertical line then a fall in demand will not affect quantity while the price will fall. So, KATE's statement can be right.
3. Manuel: Demand decreased, but supply increased at the same time.
If there is a decrease in the demand curve, it will shift to the left. Now, if there is an increase in the supply by the same amount the price will fall but quantity will remain the same. So, MANUEL's statement is right.
4. Poornima: Supply increased, but demand was perfectly inelastic.
Here, the rightward shift in the supply curve will cause the price to fall but quantity will remain the same. So, POORNIMA's statement is right.
5. Shen: Supply increased, but demand was unit elastic.
if the demand curve is unitary elastic, an increase in supply will cause the price to fall and quantity to increase. So, SHEN's statement is not correct.
Last year, Rotterdam, Inc. had sales revenue of $980,000. Costs other than depreciation and interest expense were 20 percent of sales. Depreciation expense was $50,000, interest expense was $95,000, and dividends paid were $23,000. The company also received dividends of $8,000 from a company in which it had 30% ownership stake. Which of the following statements is most CORRECT?a. The firm's taxable income was $637,400. b. The firm's after-tax income was $405,564. c. The firm's marginal tax rate was 39 percent. d. The firm's tax for the year was $113,900. e. None of the above
Answer:
e. None of the above
Explanation:
total revenue $980,000
- operating costs $196,000
- depreciation $50,000
- interests $95,000
income $639,000
+ dividends from outside corporation = $8,000 x (1 - 80% DRD) = $1,600
total taxable income = $639,000 + $1,600 = $640,600
current corporate tax is 21%, so the company's marginal tax rate would be 21%
income taxes for the year = $640,600 x 21% = $134,526
the company's after tax income = $640,600 - $134,526 = $506,074
The January 1, Year 1 trial balance for the Tyrell Company is found on the trial balance tab. The beginning balances are assumed. Tyrell Co. entered into the following transactions involving short-term liabilities in Year 1 and Year 2.
Year 1
Apr. 20 Purchased $40,250 of merchandise on credit from Locust, terms n/30.
May 19 Replaced the April 20 account payable to Locust with a 90-day, 10%, $35,000 note payable along with paying $5,250 in cash.
July 8 Borrowed $80,000 cash from NBR Bank by signing a 120-day, 9%, $80,000 note payable.
Aug. 17 Paid the amount due on the note to Locust at the maturity date.
Nov. 5 Paid the amount due on the note to NBR Bank at the maturity date.
Nov. 28 Borrowed $42,000 cash from Fargo Bank by signing a 60-day, 8%, $42,000 note payable.
Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank.
Year 2
Jan. 27 Paid the amount due on the note to Fargo Bank at the maturity date.
Requirement General General Trial Schedule of Calculation of Year 2
Journal Ledger Balance Payables Interest Payment
1. General Journal tab- Prepare the 2016 journal entries related to the notes and accounts payable of Tyrell Co
2. Calculation of interest tab - Use the interest formula (P x Rx T) to verify the amount of interest recorded in your entries. Verify that total interest expense agrees with the trial balance.
3. Year 2 payment tab - Prepare the January 27, 2017 entry to record the re-payment of the note at maturity
Answer: Please see explanatory column
Explanation:
Tyrell Company for 2016
Journal to record the purchase of merchandise inventory
Date Account Title Debit Credit
April 20 Merchandise inventory $40,250
2016 Accounts payable - Locust $40250
Journal to record the replacement of account with 10% notes payable
Date Account Title Debit Credit
March 19 Accounts payable - Locust $40,250
2016 10%notes payable $35,000
Cash $5,250
Journal to record the Borrowing of $80,000 cash in 120-days at 9%,
Date Account Title Debit Credit
July 8 Cash $80,000
2016 9%notes payable $80,000
Journal to record the 10%, notes payable at maturity date
Date Account Title Debit Credit
Aug 17 10% notes payable $35,000
2016 interest expense $875
Cash $35,875
Using Interest = P X R X T
= 35,000 X 10% X 90/360=$875
Journal to record the 9%, notes payable at maturity date
Date Account Title Debit Credit
Nov 5 9% notes payable $80,000
2016 interest expense $2,400
Cash $82,400
Using Interest = P X R X T
= 80,000 X 9% X 120/360=$2,400
Journal to borrowing of 42,000 for 60 days at 8% interest payable at maturity date
Date Account Title Debit Credit
Nov 28 Cash $42,000
2016 8% notes payable $42,000
Journal to record the interst accrued on the notes payable
Date Account Title Debit Credit
Dec 31 Interest expense $308
2016 interest payable $308
Using Interest = P X R X T
= 42,,000 X 8% X 33/360=$308
33 days because the note payable was issued on November 28 but interest was accrued on December 31 making the accrued interest expense to be calculated for 33 days
Tyrell Company for 2017
Journal to record the payment of 8% payable at maturity date
Date Account Title Debit Credit
Jan 31 8%notes payable $42,000
2017 interest payable $308
Interest expense $252
Cash $42,560
Using Interest = P X R X T
= 42,,000 X 8% X 27/360=$252
27 days because from december to january 27th,
The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $190,000 at April 1, the beginning of the current year. Mr. Thompson invested an additional $25,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $370 Accounts receivable 12,340 Office expense 560 Cash 32,990 Supplies 1,670 Fees earned 68,980 Wages expense 25,580 Land 65,000 Drawing 3,000 Building 143,670 Prepare an income statement for the current year ended March 31. Thompson Computer Services Income Statement For the Year Ended March 31
Answer:
Thompson Computer Services
Income statement for the current year ended March 31.
Particulars Amount
Fees Earned $68,980
Expenses
Miscellaneous expense $370
Office expense $560
Wages expense $25,580
Total Expenses $26,510
NET INCOME $42.470
Witt Oil issued 100,000 shares of cumulative, nonparticipating preferred stock with a par value of $100 and a stated dividend of 7%. The shares sold for $96 per share. The journal record for this transaction would be
Answer:
Dr Cash$9,600,000
Dr Paid-in Capital in Excess of Par -Preferred Stock$400,000
Cr Preferred Stock$10,000,000
Explanation:
Since Witt Oil issued 100,000 shares and preferred stock with a par value of $100 in which the shares sold for $96 per share this means we have to Debit Cash with $9,600,000, Debit Paid-in Capital in Excess of Par -Preferred Stock $400,000 and Credit Preferred Stock$10,000,000
Dr Cash$9,600,000
(100,000 Shares × $96 per shares)
Dr Paid-in Capital in Excess of Par -Preferred Stock$400,000
(10,000,000 -$9,600,000)
Cr Preferred Stock$10,000,000
($100,000× per value 100)
Answer:
Dr Cash$9,600,000
Dr Paid-in Capital in Excess of Par -Preferred Stock$400,000
Cr Preferred Stock$10,000,000
Explanation:
Use the minimax method to find all of the pure-startegy Nash equilibria for the following zero-sum games. Then, check your answer by using the iterated elimination of strictly dominated strategies method.
a.
Left Right
1 4
2 3
b.
Left Middle Right
5 3 2
6 4 3
1 6 2
Sides are:______
a. Up Down
b. Up Middle Down
Answer:
b
Explanation:
i dont really know,can someone explain to mee
Clay Earth Company sells ceramic pottery at a wholesale price of $ 5.00 per unit. The variable cost of manufacture is $ 1.25 per unit. The fixed costs are $ 6 comma 700 per month. It sold 4 comma 200 units during this month. Calculate Clay Earth's operating income (loss) for this month. A. $ 9 comma 050 B. $ 14 comma 300 C. ($ 6 comma 700) D. ($ 9 comma 050)
Answer:
A. $ 9 comma 050
Explanation:
The operating income(loss) of a business is the result of the sales less operating costs. The operating cost is made up of the fixed cost and the variable cost.
If the Sales is more than the operating cost, the business makes an income otherwise, a loss.
Sales = $5 * 4200
= $21,000
Operating cost = $1.25 * 4200 + $6,700
= $11,950
Operating income(loss) = $21,000 - $11,950
= $9,050
Critically analyze the difference and points of convergence between floor inspection and functional inspection
Answer:
Please refer to the below;
Explanation:
Difference between Floor inspection and Functional inspection.
• Floor inspection is usually conducted in a production environment. It involves checking of materials while processing in the machine by inspectors. Rather than checking the materials in the machine at the beginning of production, floor inspection checks the materials while in process inorder to ensure that the defected ones are quickly detected and expunged. It also ensure that the equipments used in processing are properly functioning.
• Functional inspection is an inspection that checks the overall function of a product rather than what makes up the component parts. For instance the load capacity and speed of a vehicle can be checked for optimal performance whereas individual parts that make up the vehicle are not checked, yet bring out satisfactory performance when combined together. This form of inspection is concerned with verification of final output and does not provide details about different sections instead provides a wider understanding of comfort that emanate from inspecting same item.
Points of Convergence between Floor inspection and Functional inspection.
• The key objective of both floor and functional inspection is quality output having reviewed and examined their expectations.
• Both floor and functional inspection work to prevent defective product from flowing down the successive operations and avoid loss to the company
• Both floor and functional inspection aim at meeting customers requirements, wants and needs.
Zara, an HR manager at Fluxin LLC, is responsible for implementing a guided self-appraisal system using management by objectives in her organization. She has developed specific standards for performance. Which of the following is typically the next step for Zara?
a. Continuing performance discussions
b. Implementation of the performance standards
c. Setting of objectives
d. Job review and agreement
Answer:
The answer is option (c) Setting of objectives.
Explanation:
Solution
The next step for Zara to take from the given question is in the setting of objectives.
Setting of objectives : This is defined as a set of activity of setting objectives or goals for an organization.
In afterwords they are ends that explains specifically how the goals can be achieved or accomplished so they are quantitative in nature.
Which of the following is a community lifeline
Answer:
Safety and security
food, water, and shelter
health and medical
power and fuel
communications and transport
Explanation:
A lifeline allows business and government structures to continue to operate and is beneficial to human health and financial stability. Lifelines are perhaps the most important resources in the community that allow all other facets of society to work when balanced. The interconnected network of resources, services, and securities ( food, water, and shelter, medical care, communications facilities, etc) that provide lifeline services is used on a daily basis to facilitate the community's regularly occurring needs and give all other elements of society to perform efficiently.
Communications are the Community's lifeline. Safety and security, health and medical care, communications, hazardous materials, food, water, shelter, energy (power & fuel), and transportation are the seven community lifelines that FEMA has defined. Thus, option C is correct.
The Community Lifelines idea from the Federal Emergency Management Agency (FEMA) is a framework for event management that gives emergency managers a reporting system to swiftly stabilize a community after a disaster.
Safety and security, health and medical care, communications, hazardous materials, food, water, shelter, energy (power & fuel), and transportation are the seven community lifelines that FEMA has defined. It is a sign that lives are in danger, and daily routines and food chains are disturbed, if any of these Lifelines go down due to a disaster or emergency.
Learn more about FEMA community lifelines here:
https://brainly.com/question/16931841
#SPJ6
Your question seems to be incomplete, but most probably the complete question was:
Which of the following is a community lifeline?
a. schools and churches
b. lumber and hardware
c. grocery and fast food
d. communications
Quality Timber Pty Ltd is a well-established logging company. With below-average performance, their packaging department is consistently behind schedule. Employees often take long lunch breaks and frequently stop to chat with co-workers. However, the employees get along very well and frequently spend time together, even outside work. In this scenario, the performance norms are _____ and cohesiveness is _____, so productivity is ____.
Answer:
Quality Timber Pty Ltd
In this scenario, the performance norms are _below-average____ and cohesiveness is _ high____, so productivity is _low___.
Explanation:
It has been established that group norms influence individual behavior and group performance. Performance Norms refer to how a person should work in a given group and what his or her output should be.
Cohesion, according to wikipedia.com, "can be more specifically defined as the tendency for a group to be in unity while working towards a goal or to satisfy the emotional needs of its members." Employees of the packaging department tend to be enjoying so much group cohesiveness. But, they need to break some habits to focus on achieving corporate goals by increasing their productivity.
According to Paul Krugman of the Organization for Economic Co-operation and Development, "Productivity is commonly defined as a ratio between the output volume and the volume of inputs. In other words, it measures how efficiently production inputs, such as labour and capital, are being used in an economy to produce a given level of output." A rough assessment of the packaging department employees' performance shows low productivity, as they are "consistently behind schedule and take long lunch breaks, and frequently chat with co-workers," instead of concentrating on their jobs.
Why are adjustments made to the accounting records at the end of the period? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
Answer: a. To ensure assets and liabilities are reported at appropriate amounts.
b. To ensure the related revenues and expenses are reported in the proper period.
Explanation:
Adjustments must be made at the end of the period to make sure that the figures in the books are the proper and true reflection of the transactions that took place. That way records are neither overstated or understated thereby giving the users of the Accounting records a proper and accurate opportunity to assess the company's financial standing.
Records must also be adjusted to abide by the Accrual basis in accounting which posits that revenues and expenses should be recorded only in the periods when they occured regardless of if money has been received or paid for them. This way it is easier to match Expenses as well as Revenue to their respective periods.
A sinking fund is established by a working couple so that they will have $60,000 to pay for part of their daughter's education when she enters college. If they make deposits at the end of each 3-month period for 8 years, and if interest is paid at 10%, compounded quarterly, what size deposits must they make
Answer:
quarterly deposit= $12,460.99
Explanation:
Giving the following information:
FV= $60,000
Number of periods= 4*8= 32
i= 0.10/4= 0.025
To calculate the quarterly deposit required, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= quarterly deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (60,000*0.025) / [(1.025^32) - 1]
A= 12,460.99
Harry has a Personal Auto Policy (PAP) with liability limits of 100/$300/$50 and medical payments limits of $5,000 insuring his SUV. Harry also has other than collision and collision coverages with deductibles of $250 and $500, respectively. The local taxicab drivers are on strike and Harry decides to capitalize on the situation by transporting persons in his SUV for a fee. While transporting a businessman, Harry loses control of his SUV and hits a parked car. The damages are as follows:
Harry's medical costs - $2,000The businessman's medical costs - $1,000Damage to the parked car - $14,000Damage to Harry's car - $12,000How much, if any, will Harry's PAP insurer pay for damages under Part A—Liability Coverage?A. $0B. $14,000C. $17,000D. $29,000
Answer:
A) $0
Explanation:
The personal automobile policy (PAP) is an automobile insurance contract which most people purchase in order to protect their automobile from costs that may arise due to auto accidents.
Under the Part A—Liability Coverage, there are exclusions whereby the insurer won't pay for any damage, and one of the exclusions states that "for that “insured’s” liability arising out of the ownership or operation of a vehicle while it is being used as a public or livery conveyance, no liability coverage would be provided."
In this case, since Harry used his SUV to transport people for a fee, Harry's PAP insurer won't pay for damages under Part A—Liability Coverage because he used his SUV for livery conveyance.
Some quotes were stated from "Types of Automobile Policies and the Personal Automobile Policy"
Hannah Roberts owns and operates Hannah's Pool Service Company. On January 1, Hannah Roberts, Capital had a balance of $309,170. During the year, Hannah invested an additional $22,040 and withdrew $39,010. For the year ended December 31, Hannah's Pool Service Company reported a net income of $55,080.
Prepare a statement of owner's equity for the year ended December 31. Hannah's Pool Service Company Statement of Owner's Equity For the Year Ended December 31.
Answer:
Hannah's Pool Service Company
Statement of owner equity for the year ended December 31
Particulars Amount
Capital (January 1) $309,170
Investment during the year $22,040
Net Income $55,080
Withdrawals during the year (-$39,010)
Increase in the owner equity $38,110
Capital (December 31) $347.280
Workings
a. Increase in the owner equity = Investment during the year + Net income - withdrawal during the year
=$22040+$55080 -$39010
=$38110
b. Capital (December 31) = Capital on January 1 + Increase in owner equity
=$309170 +$38110
=$347280
Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow.
July August September
Budgeted sales $54,000 $70,000 $58,000
Budgeted cash payments for
Direct material 15,160 12,440 12,760
Direct labor 3,040 2,360 2,440
Factory overhead 19,200 15,800 16,200
Sales are 15% cash and 85% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash: $44,000 in accounts receivable; $3,500 in accounts payable; and a $4,000 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), office salaries ($3,000 per month), and rent ($5,500 per month).
Required:
a. Prepare a cash receipts budget for July, August, and September.
b. Prepare a cash budget for each of the months of July, August, and September.
Answer:
Built-Tight
a) Cash Budget for July, August, and September:
July August September Total
Beginning balance $15,000 $16,900 $28,700 $15,000
Cash collections: 52,100 56,400 68,200 176,700
Cash Expenses:
Direct materials (15,160) (12,440) (12,760 ) (40,360)
Direct labor (3,040) (2,360) (2,440) (7,840)
Factory overhead (19,200) (15,800) (16,200) (51,200)
Operating expenses:
Sales Commission (5,400) (7,000) (5,800) (18,200)
Rent Expense (3,000) (3,000) (3,000) (9,000)
Accounts Payable (4,000) (4,000)
Interest expense (400) (400)
Loan repayment (4,000) (4,000)
Minimum Balance 15,000 15,000 15,000
Excess Cash $1,900 $13,700 $41,700 $56,700
Explanation:
a) Cash Collections:
July August September Total
Cash sales 15% $8,100 $10,500 $8,700 $27,300
85% a month after 44,000 45,900 59,500 149,400
Total collections $52,100 $56,400 $68,200 $176,700
b) It is assumed that the balance in accounts payable was paid in August when the company had enough balance to offset it. Any other assumption could have been made.
c) A cash budget shows the cash receipts and payments made during the budget period. As a budget, it shows the forecast for cash receipts and payments, which will help management to make decisions to avoid liquidity problems which can ruin a business. Management is able to plan ahead for the business' expenditures and investments. It also warns management to negotiate for loans to smoothen periods of cash shortages.