Answer:
The correct answer is letter "B": compensation and promotions.
Explanation:
It is unethical to influence or distort accounting information to benefit an employee over another in front of promotions or at the moment of providing benefits to workers. Sometimes and against the law, manager accountants are pushed to do so for the company to obtain extra income or when the decision of providing a better job position to an employee over another is biased.
Management accountants are most likely to face pressure to favorably influence numbers for compensation and promotions as these directly affect managers' performance evaluations, pay, and career opportunities.
Explanation:Management accountants might experience outside pressure to influence the numbers favorably when the accounting information they provide is directly tied to outcomes that can significantly affect the company's financial status and the well-being of individual managers. Among the options provided, the most likely scenario where such pressure could occur is: Option B) Compensation and Promotions
In the context of compensation and promotions, accounting numbers directly impact the performance evaluation of managers, which could consequently influence their pay and career advancement. The desire to appear successful and to maximize personal gain might motivate some managers to apply pressure on accountants to adjust figures to create a more favorable impression. Meanwhile, the information used for budgeting, continuous improvement, and product costing is more about planning and operational efficiency, which is generally not as directly tied to individual compensation and promotions, hence less likely to elicit pressure on accountants to skew the numbers in a particular direction.
As firms grow and their financial data becomes more transparent to external investors like bondholders and shareholders, the company's revenues, costs, and profits are scrutinized. This increased scrutiny can lead to additional pressure on management accountants, especially when considering that these financial stakeholders rely on accurate reports to make investment decisions. Since explicit and implicit costs play into determining economic profit, accurate accounting is imperative for portraying a true representation of a firm's financial health.
If there is unemployment, the average wage rate will decline as the unemployed workers choose lower wages rather than going without a job. The demand curve for labor slopes downward and to the right so that more workers would be hired at the lower wage rate, restoring full employment.
1. According to the Keynesian view, this quote is __________.
a.incorrect because widespread unemployment would cause wages to rise, not decline.
b.incorrect because the demand for labor, other things constant, will not be negatively related to wages.
c.incorrect because wages and prices tend to be highly inflexible downward.
d.essentially correct.
Answer:
The correct answer is c. incorrect because wages and prices tend to be highly inflexible downward.
Explanation:
When there is unemployment the demand curve slopes downwards but wages and prices are inflexible downwards. The above statement is therefore incorrect because the wages and prices are highly inflexible and the workers may not be willing to work for a lower pay. This is highly dynamic and depends on the workers choices and needs.
Page(s) 47-49 2.4. What is the trade-off between having more now and having more later? Fill in the blanks to complete the passage about trade-offs. It is characteristic of – goods that they are not used up in the short run. A society can choose to – some quality of life now—fewer consumer goods—in order to build up its stock of capital goods. This will lead to a –—and more consumer goods—later on.
The trade-off between having more now and having more later involves sacrificing current consumption to invest in capital goods, which can increase future production and consumption.
Explanation:The trade-off between having more now and having more later is one central to economics, involving current consumption versus future wealth. It is characteristic of capital goods that they are not used up in the short run. A society can choose to sacrifice some quality of life now—fewer consumer goods—in order to build up its stock of capital goods. This will lead to an increase in production—and more consumer goods—later on. This is because capital goods, like machinery and factories, are used to produce consumer goods. By sacrificing immediate consumption and investing in these capital goods instead, a society can increase its future production capacity.
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The trade-off between immediate consumption and future benefits is a decision-making process where present luxuries are sacrificed to improve future living standards through investments in capital goods and human capital.
The trade-off between having more now and having more later involves decision-making where present consumption is sacrificed to enhance future production. It is characteristic of capital goods that they are not used up in the short run. A society can choose to forego some quality of life now—fewer consumer goods—in order to build up its stock of capital goods. This will lead to a higher standard of living—and more consumer goods—later on.
By investing in capital goods and education, which increases human capital, societies make a conscious choice to delay immediate gratification for a potentially more prosperous future. This concept highlights the importance of resource allocation between current consumption and future growth opportunities. For individuals, like college students, investing time and money in education can mean short-term sacrifices for the prospect of a higher income and thus greater consumption in the future.
Several line items and account titles are listed below. For each, indicate in which of the following financial statement(s) we would likely find the item or account: income statement (IS), balance sheet (BS), statement of stockholders' equity (SE), or statement of cash flows (SCF). (Select all that apply.)
a. Cash asset
b. Expenses
c. Noncash assets
d. Contributed capital
e. Cash outflow for capital expenditures
f. R etained earnings i. N et income
g. Cash inflow for stock issued
h. Cash outflow for dividends
Answer:
a. Cash Asset (Balance sheet, Statement of cash flow)
b. Expenses (Income Statement)
c. Noncash Assets (Balance sheet)
d. Contributed capital (Balance Sheet, Statement of stockholder's equity)
e. Cash outflow for capital expenditures (Statement of cash flow)
f. Retained earnings (Balance Sheet, Statement of stockholder's equity)
g. Cash inflow for stock issued (Statement of cash flow, Statement of stockholder's equity)
h. Cash outflow for dividends (Statement of cash flow, Statement of stockholder's equity)
i. Net income (Income statement, Statement of stockholder's equity, Statement of cash flow)
Explanation:
Balance sheet: This provides a statement of liabilities, assets, the business capital at any point in time. Its shows the difference between income and expenditure over a period of time.
Statement of Cash flows: This statement breaks down financial analysis into investing, operating and financing activities.
Statement of Stockholders' Equity: A finance document that is issued by a company as a part of the balance sheet. Also shows any increase or decrease in shareholder's equity for an accounting period.
Income Statement: This is a major financial statement that clearly shows how healthy an organization is performing over an accounting period.
________ is a method of entering a foreign market that involves a company coming together with a foreign company to produce or market products or services.
Answer:
The correct word for the blank space is: Joint venturing.
Explanation:
Two or three international companies plan to provide capital and resources to a common project in a Joint Venture. Developers, manufacturing companies, and service providers usually form a joint venture. Both groups, if successful, split the profits based on the value of their respective contributions to the joint venture.
What is the difference between the personal contact model of communicating on the Web and the mass media approach?
Answer:
Social media relates to all the technology that makes information sharing possible via the Internet. It is largely based on subject matter that users create and share.
Explanation:
Mass media approach: One-to-many
Personal contact approach: one-to-one.
Difference: Sellers are involved in mass media; buyers exchange information passively. Seller and buyer are both active on PC.
It is also the primary communication means used to meet the vast majority of the population. Newspapers, journals, radio, TV and the internet are the most prominent mass media channels.
Final answer:
The difference between the personal contact model and the mass media approach is the scale and nature of interaction. The personal contact model supports personalized, many-to-many communications, ideal for community building and personal expression online. In contrast, the mass media approach is one-to-many, aiming for broad reach with limited audience interaction.
Explanation:
The difference between the personal contact model of communicating on the Web and the mass media approach lies fundamentally in the scale and nature of interactions. The personal contact model, often facilitated by digital media, allows for a more personalized, many-to-many communication. This model enables individuals to share, interact, and develop personal identities within online spaces, serving as accessible points for personal or group expression. Examples include social media interactions, forums, and direct messaging, offering both a platform for individual voices and a space for niche communities to thrive.
Conversely, the mass media approach is a form of one-to-many communication where content is constructed by a relatively small group of media creators and broadcast to a broad audience through widely available channels such as television, radio, and traditional print media. This approach is characterized by its impersonal nature, aiming to reach as many people as possible, often for purposes like advertising, entertainment, or dissemination of news, with limited direct interaction between the content creators and the audience.
Thus, the personal contact model emphasizes interactive, many-to-many communications that foster personal connections and community building online, while the mass media approach focuses on one-to-many communications aiming for wide reach and influence.
Suppose that there are 10 million workers in Canada and that each of these workers can produce either 2 cars or 30 bushels of wheat in a year. a. What is the opportunity cost of producing a car in Canada? What is the opportunity cost of producing a bushel of wheat in Canada? Explain the relationship between the opportunity costs of the two goods. b. Draw Canada’s production possibilities frontier. If Canada chooses to consume 10 million cars, how much wheat can it consume without trade? Label this point on the production possibilities frontier. c. Now suppose that the United States offers to buy 10 million cars from Canada in exchange for 20 bushels of wheat per car. If Canada continues to consume 10 million cars, how much wheat does this deal allow Canada to consume? Label this point on your diagram. Should Canada accept the deal?
Explanation:
A. Since a Canadian employee can make two cars or 30 cars of wheat each year, a car's opportunity costs 15 cars of wheat. In the same way, the cost of a wheat bushel is one quarter of a vehicle. The cost of the opportunity is the mutual costs.
B. When all 10 million workers are producing two cars each, a total of 20 million cars is produced, which means that the production opportunities are intercepted vertically. For every 10 million employees produce 30 bushels of wheat each, the horizontal interception between output possibilities is a total of 300 million bushels. Although the trade is still the same between cars and wheat, development incentives are a straight line.
C. When Canada continues to import 10 million vehicles in Canada by the US, It will have to manufacture a minimum of 20 million cars. Thus Canada produces the production opportunities at the vertical dispatch. However Canada will be able to consume 200 million bushels of wheat and 10 million cars if its vehicles are 20 bushels of wheat per car. The offer should be accepted by Canada.
Major Co. reported 2016 income of $315,000 from continuing operations before income taxes and a before-tax loss on discontinued operations of $63,000. All income is subject to a 40% tax rate. In the 2016 income statement, Major Co. would show the following line-item amounts for income tax expense and net income:
Answer: The income tax expense $100,800, net income $252,000
Explanation:
To calculate net income
Income from continuing operation before income tax - income before tax-loss on discontinued operation
= 315,000 - 63,000
= 252,000
To calculate line item amount for income tax expense ,we use the formula
Income tax expense = Taxable income × tax rate
Taxable income = $252,000 , Tax rate = 40% ( 40 ÷ 100) = 0.4
= 252,000 × 0.4
= $100,800
Depending on the violation’s severity, repeat or continued violations of organization-wide policies might be grounds for:
A. refusing to pay earned wages.
B. denying overtime assignments.
C. termination of employment.
D. limiting an employee's Internet access.
Answer:
C. termination of employment.
Explanation:
When someone repeatedly violates an organization policies, or has a severe violation, their contract is terminated.
Let's look at some National Football League(NFL) examples.
In case of repeated violations, you have Antonio Brown on the Raiders. He was released(fired) with no pay.
In case of a severe violation, you have the Patriots releasing(firing) Aaron Hernandez when he was arrested for the murder of Odin Lloyd.
In a daily job, if you arrive repeatedly late, or assault other employee, you are also going to be fired.
So the correct answer is:
C. termination of employment.
define the procedures that different computers follow when they transmit and receive data.A) ConsolesB) PortsXC) ProtocolsD) HostsE) Domains
Answer:
C. Protocols
Explanation:
Protocols -
It consists of the set of rules which enables communication between two or more system where the data and information can be transferred is referred to as protocol .
Protocol have some defined syntax and rules .
Protocol can be implemented on both software as well as software.
Hence , from the given statement of the question,
The correct term is protocol .
a. Find the FV of $1,000 invested to earn 10% annually 5 years from now. Answer this question by using a math formula and also by using the Excel function wizard,
Inputs: PV = 1000
I/YR = 10%
N = 5
Formula: FV = PV(1+I)^N =
Wizard (FV): $1,610.51
Answer:
$1,610.51 (in both calculation)
Explanation:
1. Using Math formula,
We know, Future value, FV = PV × [tex](1 + i)^{n}[/tex]
Given,
Present Value, PV = $1,000
Interest, i = 10% = 0.10
Number of periods, n = 5 years
Putting the values in the formula, we can get,
Future value, FV = PV × [tex](1 + i)^{n}[/tex]
FV = $1,000 × [tex](1 + 0.10)^{5}[/tex]
or, FV = $1,000 × 1.61051
Therefore, FV = $1,610.51
2. Using excel formula,
See the image below:
We have to use present value as negative so that the result should be used as positive.
Answer:=$1,610.51
Explanation:
PV=$1,000
I=10%
N=5
_____ (rapid execution, response, and delivery of results) often separates the winners from the losers.
A. Service
B. Quality
C. Innovation
D. Speed
E. Competitiveness
Answer:
The correct answer is letter "D": Speed.
Explanation:
The speed at which companies perform their activities is vital and can take a big role in determining the profits or losses of the business. Firms must be one step ahead in their production process to make sure deadlines are met and to predict failures to solve the issues immediately minimizing the output damages.
Answer:
D. Speed
Explanation:
Procrastination destroys human personal life as well as business. It separates the serious-minded and hardworking from the slothful and lazy, it separates the successful from the failure and separates the winners from the losers
Effect of Transactions on Accounting Equation
a. A vacant lot acquired for $115,000 is sold for $298,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select 'No change' from the dropdown and then enter a "0" in the amount box.
Effect Amount
1. Total assets Increased $
2. Total liabilities No Change $
3. Stockholders' equity Increased $
b. Assume that the seller owes $80,000 on a loan for the land. After receiving the $298,000 cash in (a), the seller pays the $80,000 owed. What is the effect of the payment on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select 'No change' from the dropdown and then enter a "0" in the amount box. Consider only the payoff of the loan, without considering the sale of the land.
Effect Amount
1. Total assets Decreased $
2. Total liabilities Decreased $
3. Stockholders' equity No Change $
c. Is it true that a transaction always affects at least two elements (Assets, Liabilities, or Stockholders' Equity) of the accounting equation?
Answer:
ASSET = LIABILITY + CAPITAL
Loan 80000
(previous-given)
-115000 (Lot) No Effect 183000
+298000 (Cash)
-80000 (Cash) -80000 (Loan)
Explanation:
Accounting Equation : Assets = Capital + Liabilities
Previous Given Information : Loan Rs 80000
The Vacant lot costing 115000 decreases the asset lot by that amount, sold for cash at 298000 increases cash by same amount, adds the capital by the amount of profit (298000-115000).
The previous loan 80000 paid decreases the loan liability by same, also decreases cash asset by same.
The sale of the vacant lot increases the seller's assets and stockholders' equity by $183,000, with no change to liabilities. Paying off the $80,000 loan decreases both assets and liabilities by the same amount, with no impact on stockholders' equity. Transactions typically affect at least two elements of the accounting equation to maintain balance.
Explanation:In the first scenario, the sale of the vacant lot for $298,000 results in an increase in total assets by $183,000 (the difference between the sale price and the acquisition cost), and an equivalent increase in the stockholders' equity as the company profits from the sale. This transaction doesn't affect the company's liabilities. Therefore, the asset increase amount is $298,000 - $115,000 = $183,000.
In the second scenario, assuming the loan repayment happens immediately after the sale, the company experiences a decrease in the assets and liabilities. This is because the $80,000 cash used to repay the loan reduces the company's assets, and simultaneously diminishes their liabilities by the same amount. The stockholders' equity wouldn't change as the loan repayment itself does not increase or decrease the company's net worth. So, the decrease amount is $80,000.
Lastly, it is generally true that transactions always affect at least two elements of the accounting equation. The accounting equation — Assets = Liabilities + Stockholders' Equity — must always balance. This means that any transaction that alters the total value of one element must equally affect at least one other element as well.
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Cole Co. began constructing a building for its own use in January 2016. During 2016, Cole incurred interest of $50,000 on specific construction debt, and $20,000 on other borrowings. Interest computed on the weighted-average amount of accumulated expenditures for the building during 2016 was $40,000. What amount of interest should Cole capitalize? Multiple Choice $20,000 $40,000 $50,000 $70,000
Answer:
The correct answer is 'Option (b)
Explanation:
Cole co. should compare between actual interest incurred on all the debts and the calculated interest on weighted average accumulated expenditure and lower of these two should be capitalized.
Actual interest incurred =$50,000+20,000 = $70,000
Calculated interest = $40,000
Lower of these two to be capitalized for the building during 2011= $40,000
Preconceived assumptions made by managers regarding their workers result in violations of fair:a) labor laws. b)self-fulfilling prophecies. c)better performing employees. d)difficulties with job performance evaluations.
Answer:
The correct answer is letter "A": labor laws.
Explanation:
Labor laws are the set of legal rules employers must follow to promote an equalitarian job environment. The right to be free from discrimination, to work in a safe work frame, to be free from retaliation, and to have access to a fair wage are the basic rights employees must make respect.
Preconceived assumptions could lead to discriminating individuals because of certain features like race, religion, sex or political ideology. Thus, preconceived assumptions lead to managers breaking labor laws.
Griffin's Goat Farm, Inc., has sales of $796,000, costs of $327,000, depreciation expense of $42,000, interest expense of $34,000, a tax rate of 21 percent, and paid out $95,000 in cash dividends. The common stock outstanding is 80,000 shares. a. What is the earnings per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the dividends per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
A. Earning Per Share = $3.88 per Share
B. Dividend per Share = $1.99 per Share
Explanation:
Step 1: Calculate the Net Income Before Tax
Sales= $796,000, Cost= $327,000, Depreciation = $42,000, Interest = $34,000
Net Income Before Tax= Income for the period - Expenses
Net Income Before Tax= Sales- Costs- Depreciation- Interest
= $796,000-$327,000-$42,000-#34,000
=$393,000
Step 2: Calculate the Net Income After tax
Net Income After Tax = Net Income Before Tax - Tax for the period
Percentage for Tax (tax rate) = 21%
Tax for the Period = $393,000 x 21%
= $82,530
Net Income After Tax = $393,000- $82, 530
= $310,470
Step 3: Calculate Earnings Per Share
Number of Outstanding Shares = 80,000 Shares
Dividend paid = $95,000
Earnings Per Share = Net Income After Tax/ Number of Shares
= $310,470/80,000
=3.880875 Per Share (intermediate calculations not rounded)
=$3.88 Per Share (rounded to 2 decimal places)
Step 4: Calculate Dividends Per Share
Dividend Per Share = Cash Dividend Paid/ Number of Shares
= $95,000/80,000
=$1.1875 (intermediate calculations not rounded)
=$1.19 Per Share (rounded to 2 decimal places)
Warner Clothing is considering the Introduction of a new baseball cap for sales by local vendors. The company has collected the following price and cost characteristics:
Sales price $18 per unit
Variable costs 2 per unit
Fixed costs 52,000 per month
Required:
a. What number must Warner sell per month to break even?
b. What number must Warner sell per month to make an operating profit of $40,000?
Answer:
(a) 3,250 units
(b) 5,750 units
Explanation:
(a) BEP(units):
= fixed cost ÷ contribution margin per unit
= $52,000 ÷ ($18 - $2)
= 3,250 units
Therefore, the 3,250 units must Warner sell per month to break even.
(b) BEP(units):
= (fixed cost + target profit) ÷ contribution margin per unit
= ($52,000 + $40,000) ÷ $16
= 5,750 units
Therefore, the units must Warner sell per month to make an operating profit of $40,000 is 5,750 units.
Warner Clothing needs to sell 3,250 units per month to break even and 5,750 units per month to generate an operating profit of $40,000. These numbers were calculated using principles of break-even analysis in business.
Explanation:In the context of business, break-even analysis is a tool to determine how many units of a product must be sold to cover the costs of production. To calculate the break-even point, we use the formula: Fixed Costs ÷ (Selling Price per Unit - Variable Cost per Unit). Given the values: Fixed Costs = $52,000, selling price per unit = $18, variable costs = $2, the calculation would be as follows: $52,000 ÷ ($18 - $2) = 3,250 units. Therefore, Warner Clothing must sell 3,250 baseball hats per month to break even.
To calculate the number of units needed to make a certain profit, you use the formula: (Fixed Costs + Desired Profit) ÷ (Selling Price per Unit - Variable Cost per unit). Thus, for Warner to make an operating profit of $40,000, the calculation is: ($52,000 + $40,000) ÷ ($18 - $2) = 5,750 units. In summary, Warner Clothing needs to sell 5,750 baseball hats per month to make a profit of $40,000.
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All of the following are questions an opportunity assessment plan might answer except
What business skills do i have?
Answer:
A. How much capital do I need?
Explanation:
The question is incomplete with regards to the options.please refer below the complete question:
All of the following are questions an opportunity assessment plan might answer except:
A. How much capital do I need?
B. What market need does it fill?
C. What business skills do I have?
D. Can a patent be obtained?
A U.S. manufacturing company operating a subsidiary in an LDC (less-developed country) shows the following results: U.S. LDC Sales (units) 100,505 19,600 Labor (hours) 19,550 14,550 Raw materials (currency) $ 20,500 19,550 (FC) Capital equipment (hours) 58,600 4,550 *Foreign Currency unit a.
a. Calculate partial labor and capital productivity figures for the parent and subsidiary. (Round your answers to 2 decimal places.)
b. Compute the multifactor productivity figures for labor and capital together. (Round your answers to 2 decimal places.)
c. Calculate raw material productivity figures (units/$ where $1
Answer:
Part A:
Labur Productivity:
For US=5.14, LDC=1.35
Capital Productivity:
For US=1.72 LDC=4.31
Part B:(Multi factor productivity)
For US=1.29 LDC=1.03
Part C: (Raw material productivity)
For US=4.90 LDC=10.02
Explanation:
Part A:
Labur Productivity:
For US:
[tex]Partial Labor Productivity=\frac{Sale(units)}{Labour(hours} \\Partial Labor Productivity=\frac{100505}{19550} \\Partial Labor Productivity=5.14[/tex]
For LDC:
[tex]Partial Labor Productivity=\frac{Sale(units)}{Labour(hours} \\Partial Labor Productivity=\frac{19600}{14550} \\Partial Labor Productivity=1.35[/tex]
Capital Productivity:
For US:
[tex]Capital Productivity=\frac{Sale(units)}{Capital Equipment} \\Capital Productivity=\frac{100505}{58600}\\Capital Productivity=1.72[/tex]
For LDC:
[tex]Capital Productivity=\frac{Sale(units)}{Capital Equipment} \\Capital Productivity=\frac{19600}{4550}\\Capital Productivity=4.31[/tex]
Part B:
For US:
[tex]Multifactor Productivity=\frac{Sales(units)}{labour(Hours) + Capital Equipment(hours)}\\ Multifactor Productivity=\frac{100505}{19550+58600} \\Multifactor Productivity=1.29[/tex]
For LDC:
[tex]Multifactor Productivity=\frac{Sales(units)}{labour(Hours) + Capital Equipment(hours)}\\ Multifactor Productivity=\frac{19600}{14550+4550} \\Multifactor Productivity=1.03[/tex]
Part C:
For US:
[tex]Raw material productivity=\frac{Sales(Hour)}{Raw Material} \\ Raw material productivity=\frac{100505}{20500} \\ Raw material productivity=4.90[/tex]
ForLDC:
Converting Raw material FC into $ (1$=10FC)
Raw Material =19550/10=$1955
[tex]Raw material productivity=\frac{Sales(Hour)}{Raw Material} \\ Raw material productivity=\frac{19600}{1955} \\ Raw material productivity=10.02[/tex]
Thomson Trucking has $12 billion in assets, and its tax rate is 25%. Its basic earning power (BEP) ratio is 18%, and its return on assets (ROA) is 4.25%. What is its times-interest-earned (TIE) ratio
The Times-Interest-Earned (TIE) ratio for Thomson Trucking is approximately 5.643. This means the company's operating earnings are about 5.643 times larger than its interest expenses.
The Times-Interest-Earned (TIE) ratio measures a company's ability to cover its interest expenses using its operating earnings. The formula for the TIE ratio is:
TIE Ratio = Earnings Before Interest and Taxes (EBIT) / Interest Expenses
We can use the given information to calculate the TIE ratio step by step:
1. Calculate Earnings Before Interest and Taxes (EBIT):
BEP Ratio = EBIT / Total Assets
EBIT = BEP Ratio * Total Assets
Given BEP Ratio = 18% (0.18)
Total Assets = $12 billion
EBIT = 0.18 * $12 billion
EBIT = $2.16 billion
2. Calculate Interest Expenses:
ROA = Net Income / Total Assets
Net Income = ROA * Total Assets
Given ROA = 4.25% (0.0425)
Total Assets = $12 billion
Net Income = 0.0425 * $12 billion
Net Income = $0.51 billion
Interest Expenses = Net Income * (1 - Tax Rate)
Interest Expenses = $0.51 billion * (1 - 0.25)
Interest Expenses = $0.3825 billion
3. Calculate TIE Ratio:
TIE Ratio = EBIT / Interest Expenses
TIE Ratio = $2.16 billion / $0.3825 billion
TIE Ratio ≈ 5.643
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To calculate the TIE ratio, we need additional information. However, we can still assess Thomson Trucking's financial performance using the BEP and ROA ratios.
Explanation:To calculate the times-interest-earned (TIE) ratio, we need to use the following formula:
TIE = (EBIT / Interest Expense)
Given that we are not provided with the earnings before interest and taxes (EBIT) or the interest expense, we cannot directly calculate the TIE ratio.
However, we are provided with the basic earning power (BEP) ratio which is calculated as:
BEP = EBIT / Total Assets
And the return on assets (ROA) which is calculated as:
ROA = Net Income / Total Assets
Since the BEP and ROA ratios can provide insights into a company's profitability, it is still possible to assess Thomson Trucking's financial performance even without the TIE ratio.
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Suppose you just won the state lottery, and you have a choice between receiving $3,500,000 today or a 20-year annuity of $250,000, with the first payment coming one year from today. What rate of return is built into the annuity? Disregard taxes. Select the correct answer. a. 4.47% b. 2.87% c. 4.07% d. 3.27% e. 3.67%
Answer: The correct answer is e). 3.67%
Explanation: An ordinary annuity is a series of payments made at the end of each period.
The formula for ordinary annuity is PV = PMT × ((1 - (1 + r) ^ -n)/ r)
Where; PMT = the periodic cash payment; r = the interest rate per period; n = the total number of periods and PV = present value.
Therefore; 3500000 = 250000×((1-(1+r)^-20)/r
This will give the rate as 3.67%
A company purchased office equipment and office supplies on credit from Doug Equipment Company. What is the entry?
Answer:
$ $
Office Equipment 5,000
Office Supplies 10,000
Doug Equipment Company 15,000
15,000 15,000
Explanation:
The entry for a company that purchased office equipment and office supplies on credit from Doug Equipment Company is:
Debit Office Equipment (or Office Supplies)
Credit Accounts Payable.
When a company purchases office equipment or supplies on credit, it acquires an asset and incurs a liability. The office equipment or office supplies account is debited to reflect the increase in assets. This entry records the cost of the equipment or supplies as an asset on the balance sheet, indicating that the company now owns these items.
Simultaneously, the accounts payable account is credited to record the liability incurred from purchasing the items on credit. This reflects the company's obligation to pay Doug Equipment Company in the future. The credit entry to accounts payable ensures that the liability is recognized and will be settled when payment is made. This accounting treatment maintains the balance in the company’s financial statements, accurately reflecting the acquisition of assets and the associated liability.
Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:Total machine-hours 30,400Total fixed manufacturing overhead cost $425,600Variable manufacturing overhead per machine-hour $5Recently, Job T687 was completed with the following characteristics:Number of units in the job 10Total machine-hours 20Direct materials $590Direct labor cost $1,180The unit product cost for is closest to:a. $415b. $218c. $118d. $109
Answer:
$218
Explanation:
The advantages of a data warehouse over a data mart include all of the following EXCEPT one. Select the one that is not an advantage.
Data Mart allows faster access of Data.
Data Mart is easy to use as it is specifically designed for the needs of its users. Thus a data mart can accelerate business processes.
Many a times enterprises create too many disparate and unrelated data marts without much benefit. It can become a big hurdle to maintain.
Answer:
Many a times enterprises create too many disparate and unrelated data marts without much benefit. It can become a big hurdle to maintain.
Explanation:
A data mart is an Information technology structure or pattern specific to data warehouse environments.
Data mart is an element of data warehouse. It is used to retrieve data related to client-facing activities and is usually designed specifically for the needs of its users.
Based on the options given, the disadvantage of data mart is that many a times enterprises create too many disparate and unrelated data marts without much benefit. It can become a big hurdle to maintain.
It should be noted that statement that doesn't belong to advantages of a data warehouse over a data mart is
Many a times enterprises create too many disparate and unrelated data marts without much benefit. It can become a big hurdle to maintain.A data mart can be regarded as structure which is been to data warehouse environments, and it act as avenue for retrieving client-facing data.
with data Mart there us usually faster access of Data and easy use of it because it is specifically designed for the needs of its users.
Therefore, one disadvantages of a data warehouse over a data mart is many a times enterprises create too many disparate and unrelated data marts without much benefit.
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What is the overall change in cash resulting from: $248 increase in inventories, $186 increase in accounts payable, $139 decrease in accounts receivable, $61 decrease in other current assets, $84 decrease in other current liabilities?
Answer:
An increase of $54
Explanation:
Any increase in current assets will decrease in cash. On the other hand, any decrease in current assets will increase cash balance.
Inversely, any increase in current liabilities will increase cash and any decrease in current liabilities will decrease cash balance of the period.
Increase in inventories ($248)
Increase in accounts payable $186
Decrease in accounts receivable $139
Decrease in other current asset $61
Decrease in other current liabilities ($84)
Total change $54 - an increase in cash
Alison receives a phone call from an Easy-Wash customer service representative who wants information on her experience with the washer-dryer combination that she had recently purchased and the overall purchase and installation experience. Alison claims that she is extremely satisfied with the purchase and the company's responsiveness.
This customer service practice by Easy-Wash is undertaken to:
A. offer the customer a substantial assessment of available alternatives by providing a marketing source of information
B. help the customer in the process of alternative evaluation
C. reduce the perceived psychosocial risks associated with the decision to purchase the product
D. reduce the possibility of postpurchase dissonance in Alison's mind
Answer:
The customer service practice by Easy-Wash is undertaken to help the customer in the process of alternative evaluation.
Option: (B)
Explanation:
In order to retain the customer for a long time, the Easy-Wash customer service attempts to plant a thought in the customer's mind about how her decision of buying the Easy-Wash product was a good decision. Through the call made by the customer service executive, the company successfully reinforced the thought in the customer's mind that Easy-Wash is the best choice above all.Easy-Wash's follow-up call to Alison is a customer service strategy to reduce postpurchase dissonance, which is the regret or doubt a consumer might feel after a purchase.
Explanation:The customer service practice undertaken by Easy-Wash in calling Alison to get feedback on her experience with the washer-dryer combination is primarily aimed at reducing the possibility of postpurchase dissonance in Alison's mind. Postpurchase dissonance is a form of regret or doubt that consumers may experience after making a purchase, and it is particularly common with expensive or highly important items. By checking in with customers after their purchase to ensure satisfaction, Easy-Wash is proactively addressing any potential concerns and reassuring the customer about their decision, which can enhance customer loyalty and reduce the likelihood of returns or negative word-of-mouth.
A company began the year with $500 in raw materials and purchased $10,250 more during the year. If the company has $725 in raw materials at the end of the year, then they would report direct materials used of___________ $ on the schedule of cost of goods manufactured.
Answer:
$10,025
Explanation:
Given that,
Company's Beginning Raw materials = $500
Purchases = $10,250
Company's Ending Raw Materials = $725
Hence,
Direct Materials Used:
= Beginning Raw materials + Purchases - Ending Raw Materials
= $500 + $10,250 - $725
= $10,025
Therefore, they would report direct materials used of $10,025.
The Direct Materials Used in the manufacturing process by the company, according to the data given, is $10,025.
Explanation:The question is about calculating the Direct Materials Used in a company's manufacturing process. It's a concept within managerial accounting. We start with the beginning inventory of the raw materials, here it is $500. Then, we add the purchases of raw materials that is $10,250. This results a total available raw materials of $10,750. From that we subtract the ending inventory of raw materials ($725). Mathematically this will be $10,750 - $725 = $10,025. Therefore, the company would report $10,025 as Direct Materials Used on the schedule of cost of goods manufactured.
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Review how organizations interact with their external environment (as open systems and complex adaptive systems).
How effective was Wells Fargo as an open system and as a complex adaptive system before the scandal became public?
Answer:
For an organization to survive, it must exchange information with it's external environment. An organization has no control over it's external environment, hence, it as to use the information of it's external environment for planning.
Explanation:
Wells Fargo, was one of the most valued bank, that operated a successful open system, before the scandal became public. However, it could not survive it's complex external environment, as the scandal had damaged the reputation of the bank, which largely affected the bank's market share.
Final answer:
Wells Fargo effectively interacted with its external environment as an open system by adapting to economic variables and customer demands. However, the scandal revealed inadequacies in its function as a complex adaptive system, marked by a failure to internalize and adapt to ethical standards and regulatory compliance.
Explanation:
Organizations such as Wells Fargo interact with their external environment through open system and complex adaptive system frameworks. Open systems partake in mutual exchange with external environments and are characterized by adaptability and response to external changes. As a complex adaptive system, an organization demonstrates the capacity to evolve its internal structure and behaviors in reaction to the external environment, thereby showcasing resilience and flexibility in the face of systemic pressures and changes. Prior to the public scandal, Wells Fargo was effective as an open system in its ability to engage with and adapt to external economic variables and customer demands. However, its effectiveness as a complex adaptive system was ultimately compromised by internal dysfunctions, leading to the scandal's emergence. These dysfunctions demonstrate a failure in the system's ability to adequately adapt and evolve its internal processes and cultural norms to maintain ethical standards and regulatory compliance, which is critical for the long-term resilience and survival of a complex adaptive system.
Pompeii, Inc., has sales of $53,500, costs of $24,400, depreciation expense of $2,600, and interest expense of $2,350. If the tax rate is 25 percent, what is the operating cash flow, or OCF?
The operating cash flow for Pompeii, Inc. can be calculated by first determining earnings before tax, calculating the tax payment, and then using the formula OCF = (Sales - Costs) + Depreciation - Taxes. This results in an OCF of $25,662.50.
Explanation:The question involves calculating the operating cash flow (OCF) for Pompeii, Inc. To determine OCF, we apply the following formula:
OCF = (Sales - Costs) + Depreciation - Taxes
First, we need to calculate the company's earnings before tax and the tax payment:
Earnings before tax (EBT) = Sales - Costs - Depreciation - Interest expense Earnings before tax (EBT) = $53,500 - $24,400 - $2,600 - $2,350 Earnings before tax (EBT) = $24,150 Tax payment = EBT × Tax rate Tax payment = $24,150 × 25% Tax payment = $6,037.50
Now, we can calculate the operating cash flow (OCF):
OCF = (Sales - Costs) + Depreciation - Taxes OCF = ($53,500 - $24,400) + $2,600 - $6,037.50 OCF = $25,662.50
Therefore, the operating cash flow for Pompeii, Inc. is $25,662.50.
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost:Cost Classificationa. Wheelsb. Glass used in the vehicleâs windshieldc. Wages of assembly line workerd. V8 automobile enginee. Depreciation of robotic assembly line equipmentf. Steering wheelg. Painting safety masks for employees working in the paint roomh. Salary of test driver
Answer:
Following should be the allocation of various costs:
a. Wheels: Direct Material Cost
b.Glass used in the vehicle: Direct Material Cost
c. Glass used in the vehicle windshield: Direct Material Cost
d. Wages of assembly line workers : Direct Labor Cost
e. Automobile engine: Direct Material Cost
f. Depreciation of robotic assembly: Factory Overhead Cost
g. Steering wheel: Direct Material Cost
h. Painting safety masks for employees working in the paint room: Factory Overhead Cost
i. Salary of test driver: Factory Overhead Cost
Which of the following cultural characteristics relates to the degree to which groups within the organization are encouraged to operate in a coordinated or independent manner?
Team emphasis
Unit integration
Member identity
Managerial focus
Answer:
managerial focus
Explanation:
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