Answer:
Facts.
Explanation:
You can use the indirect pattern when you need to soften or delay bad news until after an explanation is given. Basically, understanding the four components of the indirect pattern will help you craft messages that convey empathy, present reasons, cushion bad news, and close pleasantly.
Hence, if you provide objective information in your opening the buffering technique you are using is facts.
This ultimately implies that, the opening of a message can be buffered through the inclusion of facts and as such introducing a bad news objectively. Also, the facts used as a buffer technique should be concise, relevant and straightforward.
1. When you played the New York City Budget game, how did this change your opinion on how governments operate cities? What are some of the ways a city can earn revenue?
2. What are the similarities and differences between balancing a city budget and balancing a personal budget?
No-Toxic-Toys currently has $400,000 of equity and is planning an $160,000 expansion to meet increasing demand for its product. The company currently earns $100,000 in net income, and the expansion will yield $50,000 in additional income before any interest expense. The company has three options: (1) do not expand, (2) expand and issue $160,000 in debt that requires payments of 8% annual interest, or (3) expand and raise $160,000 from equity financing. For each option, compute (a) net income and (b) return on equity (Net Income ÷ Equity). Ignore any income tax effects. (Round "Return on equity" to 1 decimal place.)
Answer:
OPTION 1:
net income = $100,000
return on equity = $100,000 / $400,000 = 25%
OPTION 2:
net income = $100,000 + $50,000 - ($160,000 x 8%) = $150,000 - $12,800 = $137,200
return on equity = $137,200 / $400,000 = 34.3% (yields highest returns but also increases risk)
OPTION 3:
net income = $100,000 + $50,000 = $150,000
return on equity = $150,000 / ($400,000 + $160,000) = $150,000 / $560,000 = 26.79%
Governor Patrick Cote of Vermont is beginning his primary campaign for the presidency and is considering whether or not to accept public funds set aside for primary candidates in the Presidential Election Campaign Fund. Cote is concerned that his primary opponents may forgo revenue from the fund with the hope of raising money beyond its established limits. From which group could Cote solicit funds to maximize donations to his primary campaign, thereby allowing him the option of declining money from the Presidential Election Campaign Fund
Question Completion with Options:
a. Political action committees
b. Professional organizations
c. Corporations
d. Labor unions
Answer:
The group from which Cote could solicit funds to maximize donations to his primary campaign, thereby allowing him the option of declining money from the Presidential Election Campaign Fund is called:
Political action committees
Explanation:
A political action committee is a committee set up primarily to raise funds for the political campaign of a candidate. The committee collects funds from various individuals, better called contributors, and then distributes the funds to candidates who support the same ideals as the contributors. The establishment of a political action committee by supporters of a political aspirant enables the committee to collect funds for distribution to a candidate's political course. The committee is established based on ideology and political interests.
Assume that at the beginning of the year, Firm B divested itself of $20,000 of unproductive capital and earnings for the year fell by only $3,000. Abnormal earnings are:
Answer:
The correct response will be "$600".
Explanation:
The given problem is incomplete. Please find attachment of the complete query.
The given values are:
Normal earning,
= 11000
Rate of interest,
r = 8%
Now,
The abnormal earning will be:
= [tex]Normal \ earning-Net \ income[/tex]
= [tex]11000-((150000-20000)\times 8 \ percent)[/tex]
= [tex]11000-((130000)\times 8 \ percent)[/tex]
= [tex]600[/tex] ($)
In your resume you need to mention the names and contact information of your previous employers under
Answer:
work history
Explanation:
Casper and Cecile divorced in 2018. As part of the divorce settlement, Casper transferred stock to Cecile. Casper purchased the stock for $180,000, and it had a market value of $288,000 on the date of the transfer. Cecile sold the stock for $252,000 a month after receiving it. In addition Casper is required to pay Cecile $9,000 a month in alimony. He made five payments to her during the year.
Required:
a. What are the tax consequences for Casper and Cecile regarding these transactions?
b. How much gain or loss does Casper recognize on the transfer of the stock?
c. Does Casper receive a deduction for the $7,500 alimony paid?
d. How much income does Cecile have from the $7,500 alimony received?
e. When Cecile sells the stock, how much does she report?
Answer:
a. No gain or loss will be recognized by either party.
b. $0 gain or loss will be recognized by Casper on the transfer.
c. Yes, a deduction will be received by Casper for the $45,000 alimony paid during the year.
d. The amount of income is the $45,000 alimony received from Casper during the year.
e. Cecile will report a capital gains of $72,000.
Explanation:
Note: This question has some errors. The correct question is therefore provided before answering the question as follows:
Casper and Cecile divorced in 2018. As part of the divorce settlement, Casper transferred stock to Cecile. Casper purchased the stock for $180,000, and it had a market value of $288,000 on the date of the transfer. Cecile sold the stock for $252,000 a month after receiving it. In addition Casper is required to pay Cecile $9,000 a month in alimony. He made five payments to her during the year.
Required:
a. What are the tax consequences for Casper and Cecile regarding these transactions?
b. How much gain or loss does Casper recognize on the transfer of the stock?
c. Does Casper receive a deduction for the $45,000 alimony paid?
d. How much income does Cecile have from the $45,000 alimony received?
e. When Cecile sells the stock, how much does she report?
The explanation of the answers are now given as folllows:
a. What are the tax consequences for Casper and Cecile regarding these transactions?
Casper who is the party that is making the transfer will enjoy a deduction for the property he transferred as he is nt entitled to the deduction. In addition, no gain or loss will be recognized by Casper o the transfer.
Cecila who us the party that receives the property will also not recognize income. She will include the property received on cost basis equal to basis of the Casper who is the party that the transfer.
b. How much gain or loss does Casper recognize on the transfer of the stock?
$0 gain or loss will be recognized by Casper on the transfer.
The reason for this is that anything that is paid under alimony that is not cash is not taxable. Since what Casper transferred is not cash, $0 will be recognized.
c. Does Casper receive a deduction for the $45,000 alimony paid?
The total alimony made by Casper during the year is calculated as follows:
Total alimony paid = Alimony amount * Number of payments during the year = $9,000 * 5 = $45,000
Therefore, a deduction will be received by Casper for the $45,000 alimony paid during the year.
d. How much income does Cecile have from the $45,000 alimony received?
The amount of income is the $45,000 alimony received from Casper during the year. And this will be included in her gross income.
e. When Cecile sells the stock, how much does she report?
The amount she will report as capital gain can be calculated as follows:
Capital gains = Revenue from the sales of the stock by Cecile - Purchase price paid by Casper = $252,000 - $180,000 = $72,000
Therefore, Cecile will report a capital gains of $72,000.
Below are three independent situations:
a. In August, 2021 a worker was injured in the factory in an accident partially the result of his own negligence. The worker has sued Barkley Co. for $800,000. Counsel believes it is reasonably possible that the outcome of the suit will be unfavorable and that the settlement would cost the company from $250,000 to $500,000.
b. A suit for breach of contract seeking damages of $3,000,000 was filed by an author against Henderson Co. on October 4, 2018. Henderson's legal counsel believes that an unfavorable outcome is probable. A reasonable estimate of the award to the plaintiff is between $1,000,000 and $2,250,000. No amount within this range is a better estimate of potential damages than any other amount.
c. Kroft is involved in a pending court case. Kroft’s lawyers believe it is probable that Kroft will be awarded damages of $1,000,000.
Should you accrue a liabiity in each situation?
Answer:
a. In August, 2021 a worker was injured in the factory in an accident partially the result of his own negligence. The worker has sued Barkley Co. for $800,000. Counsel believes it is reasonably possible that the outcome of the suit will be unfavorable and that the settlement would cost the company from $250,000 to $500,000.
No liability should be recorded, only included in the footnotes. The liability is not probable, nor the amount can be determined.b. A suit for breach of contract seeking damages of $3,000,000 was filed by an author against Henderson Co. on October 4, 2018. Henderson's legal counsel believes that an unfavorable outcome is probable. A reasonable estimate of the award to the plaintiff is between $1,000,000 and $2,250,000. No amount within this range is a better estimate of potential damages than any other amount.
No liability should be recorded, only included in the footnotes. The liability is probable, but the amount cannot be determined.c. Kroft is involved in a pending court case. Kroft’s lawyers believe it is probable that Kroft will be awarded damages of $1,000,000.
The liability must be recorded since the liability is probable and can be determined.Liability is a type of debt that the business is required to pay at the present time or in any future date.
When is liability accrue?a. The company would not be in condition to accrue the liability of paying injured labor due to his own negligence as the amount is not probably determined.
b. The company would again not have any accrued liability as liability has not yet been incurred.
c. The liability to pay for damages is probable which would be incurred in the future; thus, should be recorded in the accounts of the business.
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How does QuickBooks Online use machine learning in its reconciliation tool to help find any hidden transactions
Answer: b. It can identify transactions where the transaction date is in a future period and the cleared date is in the statement period .
Explanation:
QuickBooks online uses machine learning based on the transactions that it conducts with its millions of users so that it provides a better experience for those same users.
One way machine learning is used is in reconciliation where it identifies transactions that may have a future date but by virtue of their clearing dates should be in the current period and so may have been hidden.
Which of Kant's basic human rights is violated when a supervisor requires an employee to do something that is unsafe or environmentally damaging, in spite of the employee clearly objecting to the order
Answer: freedom of conscience
Explanation:
Kant's basic human rights that is violated when a supervisor requires an employee to do something that is unsafe despite the fact that he objected us referred to as freedom of conscience.
Freedom of conscience is also referred to as the freedom of thought and it simply means that an individual has the freedom to have their own thoughts and be able to consider a fact irrespective of the viewpoint of others.
One of the toughest problems in investigating systems requirements is ensuring that they are complete and comprehensive. Imagine that you are a systems analyst. Decide the primary way in which you would ensure that you secure the necessary information during an interview session with a client. Devise a plan for accommodating conflicting responses for the same procedure from two different people you interviewe
Answer:
A) One of the most professional ways of acquiring information from a client during an interview is to approach the exercise in a semi-structured manner.
B) In order to accommodate conflicting responses from the same procedure from two different people, it is important to seek to understand what their interests are.
Explanation:
A) Semi-structured questions allow flexibility. Though the business analyst comes to the table with a set of pre-determined questions, they must be prepared to go outside of that list in order to get to the root of the problem which the clients needs to solve.
Another job of the analyst is to see beyond the immediate needs of the client and communicate to them, based on the information they provided any other problem that needs to be catered to.
Recording all information provided by the respondent is mission-critical.
B) Clarity of interests helps the analyst to determine what approach is best for accomodating both responses.
Cheers
Which option identifies what can be inferred about Sophie's degree from the following scenario?
Sophie has graduated and obtained a job in the survey research field. She oversees a team of researchers who analyze the effectiveness of survey methodologies for a large market research
mirm.
O Sophie eamed a degree in survey methodology
O Sophie camed a professional researcher certification,
O Sophie eamed a bachelor's degree
O Sophie eamed an advanced degree
Answer:
O Sophie earned a degree in survey methodology
Explanation:
Sophie is a manager in the survey company. Her team is made up of researchers who analyze the effectiveness of survey methodologies. For Sophie to effectively manage a team of researchers, she needs to be good at research work. This suggests that Sophie must have graduated with a degree in survey methodology. The minimum requirement for a manager in many professions is a degree in the relevant field of study.
The answer is NOT:
Sophie earned a professional researcher certification.
Select the correct answer.
Workers like authoritarian leaders best.
A. True
B. False
Answer:
A
Explanation:
CCC Company’s most recent income statement shows (in thousands of dollars) sales $2,000, interest payments $100, and net income $140. Its most recent balance sheet shows (also in thousands of dollars) total debt financing $800. If the total asset turnover ratio computed from the company’s most recent financial statements was 1.5, what would we compute return on assets (ROA) to be? (Hint: you should use the DuPont method of analysis.) A. 4.7% B. 10.5% C. 26.7% D. 18.7% E. 3.0%
Answer:
B. 10.5%
Explanation:
The computation of the return on assets is shown below:
As we know that
Return on assets = Net income ÷ total assets
where,
Total assets is
Total asset turnover = Sales ÷ Total assets
1.5 = $2,000 ÷ Total assets
So, the total assets is $1,333.33
Now the return on assets is
= $140 ÷ $1,333.33
= 10.5%
What types of firms lend to businesses needing capital or long-term funds?
A) Insurance companies
B) Pension and trust services
C) Commercial finance companies
D) Pension funds
Answer:
c
Explanation:
There are some Companies that lend money and treat loans. The type of firms lend to businesses needing capital or long-term funds is Commercial finance companies.
A financial institution (FI) is known to be a type of company that is involved in the business dealings where financial and monetary transactions such as deposits, loans, investments are made.Commercial finance company is simply known to be a type of finance institution where loans are made available to manufacturers and wholesalers.
Conclusively, this Commercial finance company gives loans that can be paid back in a longer run to people who want to start up business.
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Manufacturing overhead was estimated to be $380,000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $395,000, actual labor hours were 22,300. The predetermined overhead rate per direct labor hour would be:
Answer:
the predetermined overhead rate per direct labor hour would be $19
Explanation:
The computation of the predetermined overhead rate per direct labor is shown below:
Predetermined overhead rate per direct labor is
= (Estimated manufacturing overhead) ÷ (direct labor hour)
= ($380,000) ÷ ($20,000)
= $19
Hence, the predetermined overhead rate per direct labor hour would be $19
Scottie Barnes has an investment that will pay him $6,400, $6,450, $7,225, and $7,500 over the next four years. If his opportunity cost is 10 percent, what is the future value of the cash flows he will receive
Answer:
Total FV= $34,947.44
Explanation:
Giving the following information:
Cash flows:
1= $6,400
2= $6,450
3= $7,225
4= $7,500
Opportunity cost= 10%
To calculate the future value of the cash flows, we need to use the following formula on each cash flow:
FV= Cf*(1+i)^n
i= opportunity cost
FV1= 6,400*1.1^4= 9,370.24
FV2= 6,450*1.1^3= 8,584.95
FV3= 7,225*1.1^2= 8,742.25
FV4= 7,500*1.1= 8,250
Total FV= $34,947.44
How does GDP accounting record the following events? For each of them, describe how they would be computed in GDP accounts using the income method, the production method, and the expenditure method.
a. Tom purchases a brand new Volkswagen from Germany for his start up ride sharing business for $20,000. He provides ride-sharing services earning him revenues of $40,000. During the course of the year, the Volkswagen depreciates by $2,000. Tom has no other costs.
b. An army battalion is deployed to the border to repel a threatened Canadian invasion. The soldiers earn wages of $10,000 and use ammunition that the government bought for $5,000. The ammunition was produced using $2,000 of imported steel and 100 hours of work, for which the workers were paid $1,000. Hint: two things are produced in this example, what is the value added for each of them?
c. The government collects $1000 in income taxes from Pam.
d. Pam earns $4000 for working as a babysitter and pays $1000 in income taxes.
Answer:
a. Tom purchases a brand new Volkswagen from Germany for his start up ride sharing business for $20,000. He provides ride-sharing services earning him revenues of $40,000. During the course of the year, the Volkswagen depreciates by $2,000. Tom has no other costs.
GDP increases by $20,000:
It will increase $40,000 by the services provided (consumption) but will decrease $20,000 due to the imported car (negative net exports).
b. An army battalion is deployed to the border to repel a threatened Canadian invasion. The soldiers earn wages of $10,000 and use ammunition that the government bought for $5,000. The ammunition was produced using $2,000 of imported steel and 100 hours of work, for which the workers were paid $1,000. Hint: two things are produced in this example, what is the value added for each of them?
GDP increases by $13,000:
Government spending increases by $15,000.
Net imports decrease by $2,000.
c. The government collects $1000 in income taxes from Pam.
GDP doesn't change. Taxes are not included in the GDP
d. Pam earns $4000 for working as a babysitter and pays $1000 in income taxes.
GDP increases by $4,000 (consumption).
For each situation, prepare the appropriate journal entry for the redemption of the bonds.
a. Flounder Corp. redeemed $124,000 face value, 10% bonds on April 30, 2022, at 105. The carrying value of the bonds at the redemption date was $111,972. The bonds pay annual interest, and the interest payment due on April 30, 2022, has been made and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
b. Shamrock, Inc. redeemed $162,000 face value, 12.5% bonds on June 30, 2022, at 99. The carrying value of the bonds at the redemption date was $174,960. The bonds pay annual interest, and the interest payment due on June 30, 2022, has been made and recorded.
Answer and Explanation:
The journal entries are given below:
On Apr. 30
Bonds payable $124,000
Loss on redemption of bonds( bal fig) $18,228
Discount on Bonds payable($124,000 - $111,972) $12,028
Cash ($124,000 × 1.05) 1,30,200
(Being redemption of bonds at 105 is recorded)
On Jun. 30
Bonds payable $162,000
Premium on Bonds payable($174,960 - $162,000) $12,960
Gain on redemption of bonds ( bal fig) $14,580
Cash($162,000 × .99) $160,380
(Being redemption of bonds at 98 is recorded)
Some companies do not act responsibly in the marketplace, especially when it comes to fair competition. Fair competition between businesses is necessary for the marketplace to operate effectively. The market economy relies chiefly on market forces to allocate goods, services, and other resources, and to determine prices. some companies they use unethical tactics to eliminate competition.
1.Explain three main unethical practices of businesses that can affect consumers.
2. Highlight the main two Responsibilities towards customers.
Answer:
A market economy is an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country's individual citizens and businesses. There may be some government intervention or central planning, but usually this term refers to an economy that is more market oriented in general.
A municipal bond carries a coupon rate of 6.50% and is trading at par. What would be the equivalent taxable yield of this bond to a taxpayer in a 35% combined tax bracket
Answer:
10%
Explanation:
Formula for computation of equivalent taxable yield is r = rm/1-t. Where the tax rate is t, rm is Yield on municipal bond and r is Tax equivalent yield
r = rm/1-t
r = 6.50% / 1 - 35%
r = 6.50% / 0.65%
r = 10%
So, the equivalent taxable yield of this bond to a taxpayer in a 35% combined tax bracket is 10%
is committed to training new employees. assuming the company uses the incremental learning curve method, what is the total labor cost for 4 jobs
Answer:
$19,500
Explanation:
The complete question is: "Each time the Company hires a new employee, it must wait for some period of time before the employee can meet production standards. New employees are paid $150 per hour. Management is unsure of the learning curve in its operation, but it knows the first job by a new employee takes 40 hours and the second and third job take 32 and 28 hours respectively. Assume all jobs to be equal in size. Assuming that the company uses the incremental learning curve method, the total labor cost for 4 units will be closest to?"
The first job takes 40 hours
The next job takes 32 hours.
So, the total hours for first 2 jobs = 40 hours+ 32 hours = 72 hours
Average hours for first 2 jobs = 72 hours / 2 = 36 hours. Learning curve percentage = 36 hours / 40 hours = 0.9 = 90%
So, the average for 4 jobs (double of 2 jobs) shall be 36*90% = 32.40 hours. Hence, Total hours for 4 jobs = 32.40 hours * 4 = 129.60 hours ≅ 130 hours. So, the total labor cost for 4 jobs = 130 hours * $150 per hours = $19,500
The explanation for why marginal cost is positive and rising in the short run is ________ marginal product of labor in the production process. A) a zero B) a constant C) an increasing D) a diminishing
Due to an increase in the marginal cost of production for more units than the marginal product of labor is increasing.
What is Marginal production?Marginal production is the additional production of units and additional input of labor over the expected production level. The cost incurred for the marginal production changes in total, but remain constant per unit of production.
There is a direct relationship between the marginal cost of production and the marginal product of labor.
Since the labor is the only variable input for the production and the marginal cost of production is diminishing, this means the cost of producing an additional unit of production is lower.
Thus, the reduction in the marginal cost will increase the marginal product of labor.
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Trends that have contributed to the recent increase in eating disorders in the United States include a(n): a. More competitive workplace b. Increase in the number of divorces c. Focus on being thin as a measure of attractiveness d. Increase in the number of nonnutritional foods consumed ANS: C In most modern societies, a high value is placed on a slim body.
Answer:
The answer is "Option C".
Explanation:
In the US, mental illnesses have increasingly been on the rise, including patterns that are highly valuable in most modern societies. Anorexia and bipolar disorder are also included. These are complicated, severe but potentially destructive. These are also the result of a complex confluence of things such as biology, cell biology, sociology, culture, and the environment.
Select the correct answer.
Workers like authoritarian leaders best.
A True
B. False
Answer:
False
Explanation:
In autocratic leadership, the leader or manager does not allow the team members to contribute to the group's decisions. It is also known as authoritarian leadership. The leader issues command-like instructions that must be followed by everyone.
In general, workers do not like authoritarian leaders. Authoritarian leaders do not consider workers' opinions, nor do they value their inputs in decision making. Discouraging group inputs stifles creativity and innovation. Workers are always demoralized as they do not feel part of the team and its decisions.
Answer:
False!
Explanation:
I just took the test right now!
Select the correct answer.
Delegating means being responsible for all the work.
A True
B. False
Answer:
B. False
Explanation:
Delegating is using one's authority to assign some responsibilities to team members. Usually, delegations stem from a senior officer to a junior officer but can also be between co-workers. It is authorizing and empowering someone else to execute some of your responsibilities on your behalf.
In delegation, the delegating authority must provide clear guidance on how the assigned duties are discharged. Some level of supervision is still required as delegating does not take away the accountability element from the delegating authority.
A company estimates that 0.7% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $150. If they offer a 2 year extended warranty for $12, what is the company's expected value of each warranty sold
Answer:
$10.97
Explanation:
Calculation for what is the company's expected value of each warranty sold
First step is to calculate the outcome
Outcome=$150-$12
Outcome=138
Second step is to calculate the outcome probability
Outcome probability=1-0.007
Outcome probability=0.993 and 0.007 respectively
Now let calculate the company's expected value of each warranty sold
Expected value of each warranty sold=$12*0.993+(-$138)*0.007
Expected value of each warranty sold=$10.97
Therefore Expected value of each warranty sold is $10.97
Timing Technology, Inc. manufactures timing devices. During 20x1, 1,500,000 units were completed and transferred to finished-goods inventory. On December 31, 20x1, there were 320,000 units in work in process. These units were 49 percent complete as to conversion and 100 percent complete as to direct material. Finished-goods inventory consisted of 450,000 units. Materials are added to production at the beginning of the manufacturing process, and overhead is applied to each product at the rate of 100 percent of direct-labor costs. There was no finished-goods inventory on January 1, 20x1. A review of the inventory cost records disclosed the following information:
Units Materials Labor
Work in process, January 1, 20x1 310,000 $310,000 $315,400
(84% complete as to conversion)
Units started in production 1,510,000
Direct-material costs $2,966,000
Direct-labor costs $2,998,200
Required:
Complete the following schedule as of December 31, 20x1, to compute the cost of work-in-process inventory.
Physical Units
Total units to account for 0
Total units to account for 0
Answer:
The cost of work-in-process inventory as of December 31, 20x1 is:
= $368,998.40
Physical units:
For materials = 320,000 units
For conversion = 156,800 units
Explanation:
a) Data and Calculations:
Units Materials Labor
Work in process, January 1, 20x1 310,000 $310,000 $315,400
(84% complete as to conversion)
Units started in production 1,510,000 1,510,000 1,510,000
Direct-material costs $2,966,000
Direct-labor costs $2,998,200
Total costs $3,276,000 $3,313,600
Units started in production 1,510,000 1,510,000 1,510,000
Work in process, December 31, 20x1 320,000 320,000 156,800
Total equivalent units 1,830,000 1,666,800
Costs per equivalent unit $1.79 $1.988
Cost of Ending WIP = $ (320,000 *$1.79 + 156,800*$1.988)
= $57,280 for materials + $311,718.40 for materials
= $368,998.40
b) The weighted average method was used to calculate the equivalent units. With this method, the beginning units of work-in-process are not part of the calculation (only the units started and completed and the ending work-in-process are). However, the costs of the beginning work-in-process form part of the calculation together with the cost of units started and completed during the current period.
This year, Johnson Mills has annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. The firm paid $700 in dividends, $280 in interest, and has a total tax rate of 21 percent. The firm will add $2,810 to retained earnings. What is the depreciation expense?
Answer:
$3,857
Explanation:
From the above, we do know that;
Revenue - Expenses = Net income
But
Expenses = Revenue - Cost of goods sold - Admin expenses - Depreciation expenses
Also,
Net income tax = Income before taxes × ( 1 - tax rate)
Since we do not know Net income taxes,
Net income - Dividends = Change in retain earnings
Net income = $2,810 + $700
= $3,510
Income before taxes = $3,510 / 0.79
= $4,443
$37,800 - $23,200 - $6,300 - Depreciation expenses = $4,443
Therefore,
Depreciation expenses = $3,857
You know that one of your shortcomings is that you have no real job experience to speak of. You are considering beefing up your resume by exaggerating the extent of the class project you worked on for a few weeks at your brother-in-law’s small consulting firm. You could reword the resume to make it sound as if you were actually employed there and that your responsibilities were greater than they actually were. What would you do?
Answer:
Obviously, I will not reword the resume in order make it sound as if I was employed.
Explanation:
Solution:
Obviously, I will not reword the resume in order make it sound as if I was employed.
Because:
1. It is ethically wrong.
2. If I reword the resume, then obviously, I would present fake certificates to the company in order to prove the rewording or exaggerating presenting in the resume.
3. Fake documents and certificates can not be hidden for long.
4. It is really dangerous and illegal to present fake data and certificates. You can get a job on those fake profiles but after some time, chances are very high that you will be caught red handed. And consequently, you can face severe legal proceedings as well.
Hence, I will definitely not exaggerate or reword the resume. Better way is to get an internship experience for free and then provide real certificates to secure a job.
Listed below are current asset items for Lester Company at December 31, 2019. Finished goods inventory $35,000 Cash 22,000 Prepaid expenses 2,000 Accounts receivable 4,000 Short-term investments 25,000 Raw materials inventory 17,000 Work in process inventory 23,000 Supplies 500 Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity.)
Answer:
Current Assets :
Work in process inventory 23,000
Raw materials inventory 17,000
Finished goods inventory 35,000
Supplies 500
Accounts receivable 4,000
Prepaid expenses 2,000
Short-term investments 25,000
Cash 22,000
Total 128,500
Explanation:
Current Assets are always shows in the order of their liquidity in the Balance Sheet. That is the order in which they are quickly be converted into cash within a period of less than 12 months. Start with the Inventories to cash and cash equivalents as shown above.