Selective Listening Exercise: You will need to complete this exercise with another person. Create a list of like items (e.g., a list of fruits). This list needs to be at least 15 words long (the longer the better). In this list, you will repeat certain words. For example: Banana, Orange, Apple, Peach, Banana, Figs, Pear, Plums, Figs, Berries, Melons, Figs, Cherries, Limes, Pear, Tangerine, Lemon, Pear. Give the other person 30 seconds to write down as many of the words as possible. What were the results? What conclusions about listening can you draw from this exercise?

Answers

Answer 1

Answer:

In the description.

Explanation:

For this exercise, I selected the following list of school subjects:

Math, languages, physics, biology, philosophy, mathematics, Spanish, philosophy, geography, literature, technology, biology, calculus, ethics, electronics, philosophy, literature.

The person with whom I did this exercise wrote the following subjects: mathematics, physics, calculus, electronics, biology, technology.

From this exercise and with respect to selective listening, we can then conclude that the subjects that the other person is able to retain and write quickly (during the first 30 seconds) are those that directly interest him or draw his  attention, leaving aside those that are not very attractive to his taste.


Related Questions

If the accountant forgets to adjust the Prepaid Expenses account, there will be_____________.

Answers

Answer:

There will be an overstatement in income and an overstatement in current assets

Explanation:

In case an accountant forgets to adjust the prepaid expenses account for the period, the recognized expenses is understated because to adjust prepaid expenses we have to debit expenses (which will lead to an increase in recognized expenses) and credit prepaid expense account (a deduction to current asset). Failure to do so, income recognized for the period is overstated and prepaid expenses account is overstated as well.

Your boss leaves you a note, asking you to determine the present value of a $1,200,000 payment to be made in six years assuming a discount rate of 18%. However, you misread her handwriting, and mistakenly thought the discount rate you were supposed to use was 8%. What is the dollar value of the mistake in your answer because you used the wrong discount rate?

Answers

Answer:

so value of the mistake is $311685.71

Explanation:

given data

present value = $1,200,000

time = 6 year

discount rate = 18%

discount rate = 8%

to find out

What is the dollar value of the mistake

solution

we get here present value that is express as for both rate that is

present value = [tex]\frac{FV}{(1+r)^t}[/tex]

put here value

present value =  [tex]\frac{1200000}{(1+0.18)^6}[/tex]

present value 1 = $444517.85

and

present value =  [tex]\frac{1200000}{(1+0.08)^6}[/tex]

present value 2 = $756203.55

so

difference is $756203.55 - $444517.85

difference is = $311685.71

so value of the mistake is $311685.71

High school football is arguably more popular in West Texas than in any other region of the country. During football​ season, small towns seem to shut down on Friday nights as local high school teams take to the​ field, and for the following week the results of the games are the talk of each town.

Taking into consideration that many of these towns are one hundred or more miles away from any​ medium-sized or large​ cities, what might be an economic explanation for the extreme popularity of high school football in these small West Texas​towns?

A.Opportunity costs are relatively low.
B.Only a small share of household budgets are expended on the games.
C.Few entertainment substitutes are available.
D.All of the above are plausible.
E.A and B only.

Answers

Answer:

The answer is D. All of the above are plausible

Explanation:

A. Opportunity costs are relatively low is reasonable because as football game is taking place, most of the local people will go to the field to enjoy the field rather than spending their time at local shops/restaurants. Moreover, there are not many people from other towns visiting these facilities because of far distance.

B. is reasonable because it is high school football not professional football so the expenses spent on watching the game is low.

C. is is plausible because these towns are quite remote so watching their young neighbors/relatives playing may be one of the few entertainment choices available to them in weekend.

=> So, the answer is D.

Final answer:

High school football's popularity in small West Texas towns can be attributed to low opportunity costs, minimal impact on household budgets, and a lack of entertainment substitutes.

Explanation:

The extreme popularity of high school football in small West Texas towns can be economically explained by considering a few key factors. First, the opportunity costs for attending these games are relatively low since there are fewer entertainment options available, making football games a primary social event. Also, attending these games typically represents only a small share of household budgets, particularly in these smaller towns where there may be fewer demands on discretionary spending and where entertainment options are limited. Moreover, the lack of entertainment substitutes plays a significant role. With limited access to the broader entertainment amenities found in larger cities, local high school football games become a focal point for the community, providing entertainment as well as a sense of local pride and community identity. Thus, one could argue that all the factors mentioned contribute to the high school football's popularity, making 'D. All of the above are plausible' the most comprehensive answer.

Stockholders' equity is generally classified into two major categories:
a. contributed capital and appropriated capital.
b. appropriated capital and retained earnings.
c. retained earnings and unappropriated capital.
d. earned capital and contributed capital.

Answers

Answer:

d. earned capital and contributed capital.

Explanation:

The statement of stockholder's equity comprises common stock, preferred stock , and retained earnings.

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

And, the ending balance of the common stock = Beginning balance of common stock + issued shares

The contributed capital comprises of common stock and the preferred stock whereas the earned capital includes retained earnings

Final answer:

Stockholders' equity is classified into two major categories: contributed capital and retained earnings, corresponding to the money from share investments and reinvested profits, respectively.

Explanation:

Stockholders' equity is typically divided into two major categories: contributed capital and retained earnings. Therefore, the correct answer is letter d: earned capital and contributed capital. Contributed capital represents the money that shareholders invest directly in the company by purchasing shares of stock, which can be described as a firm's claim on partial ownership divided into individual portions. Retained earnings, on the other hand, are the cumulative profits that a corporation has earned and reinvested in the business rather than paid out as dividends to shareholders. Retained earnings can be accumulated through several means, including early-stage investors, reinvesting profits, borrowing through banks or bonds, and selling stock in the form of an initial public offering (IPO).

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Firms HD and LD are identical except for their level of debt and the interest rates they pay on debt. HD has more debt and pays a higher interest rate on that debt. Based on the data given below, what is the difference between the two firms' ROEs?Applicable to Both Firms Firm HD Firm LDAssets $200: EBIT $40: Debt Ratio: 50% 30%Interest Rate: 12% 10%Tax Rate 35%:

Answers

Answer:

Firms HD has higher ROE than firm LD.

In details, LD's ROE = 15.79%; HD's ROE = 18.20%. So the difference between LD's ROE and HD's ROE is (2.41%) with LD has lower ratio.

Explanation:

*For firm HD:

Value of debt = 200 * 50% = 100; Value of equity = 200 - 100 = 100.  

Interest expenses = 100 * 12% = $12 => EBT = 40 -12 = $28

Net income = EBT*(1 - tax rate) = 28 * (1-35%) = $18.2

ROE = net income / equity = 18.2 / 100 = 18.2% .

*For firm LD:

Value of debt = 200 * 30% = 60; Value of equity = 200 - 60 = 140.

Interest expenses = 60 * 10% = $6 => EBT = 40 -6 = $34

Net income = EBT*(1 - tax rate)  = 34 * (1-35%) = $22.1

ROE = net income / equity = 22.1 / 140 = 15.79%

Final answer:

The difference between Firm HD's and Firm LD's ROE is 2.41%, which is calculated by first determining each firm's net income, then their equity, and finally, their ROE based on the given levels of debt and interest expense.

Explanation:

The student's question is related to the calculation of the Return on Equity (ROE) for two firms with different debt structures and interest rates. To determine the difference between the two firms' ROE, one must first calculate the net income for each firm and then divide it by the firm's equity. Given the EBIT is $40, the tax rate is 35%, and the debt ratio and interest rates differ (HD: 50% at 12%, LD: 30% at 10%), we can find the interest expense for each firm and subsequently calculate the net income after taxes. Then, equity is determined as the total assets minus total debt. Finally, ROE is computed and the difference between the two firms' ROE can be determined.

Step 1: Calculate Interest Expense and Net Income


 Firm HD: Debt = 0.50 * $200 = $100; Interest Expense = $100 * 0.12 = $12
 Firm LD: Debt = 0.30 * $200 = $60; Interest Expense = $60 * 0.10 = $6
 Net Income (HD) = (EBIT - Interest) * (1 - Tax Rate) = ($40 - $12) * (1 - 0.35) = $18.2
 Net Income (LD) = (EBIT - Interest) * (1 - Tax Rate) = ($40 - $6) * (1 - 0.35) = $22.1

Step 2: Calculate Equity and ROE


 Equity (HD) = Total Assets - Debt = $200 - $100 = $100
 Equity (LD) = Total Assets - Debt = $200 - $60 = $140
 ROE (HD) = Net Income / Equity = $18.2 / $100 = 18.2%
 ROE (LD) = Net Income / Equity = $22.1 / $140 = 15.79%

Step 3: Determine the Difference in ROE

The difference in ROE between Firm HD and Firm LD is 18.2% - 15.79% = 2.41%.

All of the following are characteristics of long-run equilibrium for firms in a monopolistically competitive market except:

A. price equals marginal cost.
B. price equals average total cost.
C. price exceeds the minimum of average total cost.
D. marginal cost equals marginal revenue.

Answers

Answer:

C. price exceeds the minimum of average total cost.

Explanation:

In a monopolistic competitive market, the firm makes profit when MC (Marginal Cost) equals MR (Marginal Revenue).  Price also equal average total cost.

Explain the ways in which Fiscal Policy and Monetary Policy interact by using Keynesian IS and LM curves. Discuss the impact of an expansionary Fiscal Policy and Monetary Policy on the overall level of economic activity. Include the conditions in which Monetary Policy would have a greater influence on GDP growth and the conditions in which Fiscal Policy would have a greater influence on GDP growth.

Answers

Answer and Explanation:

If demand is greater than supply, then there is inflation. Hence, the government has to devaluate its currency on net borrowings from abroad. Supply increases and price becomes stable.

The banks have to lower their bank rate and decrease CRR. When prices rise, consumption decreases and investment increases. When the interest rate is made high consumption and investment both become stable. Hence, there is full employment. Government has a fiscal policy to increase taxes and borrowings and increase the export and income rises and price becomes stable.

A corporation has 24 comma 000 shares of 10​%, $ 60.00 par cumulative preferred stock outstanding and 37 comma 000 shares of nominuspar common stock outstanding. Preferred dividends of $ 13 comma 000 are in arrears. At the end of the current​ year, the corporation declares a dividend of $ 222 comma 000. How is the dividend allocated between preferred and common​ stockholders?

Answers

Answer:

See below.

Explanation:

Lets summarize the information first.

Cumulative preferred stock @ 10% = 24,000 * 60 = $1,440,000

Common Stock = 37,000 shares

Preferred dividend arrears = $13,000

Total Declared dividend = $222,000

Total Payable for preferred stock this year = 1,440,000*0.10 = $144,000

So total share payable to preferred stock = $144,000 + $13,000 = $157,000

Total payable to common stock holders = $222,000 - $157,000 = $65,000

Hope that helps.

Craig bought a new boat. He made a 18% down payment. He financed the rest through his bank for 4 years. His bank charged 4% per year compounded monthly and his monthly payments were $500. What was the original price of the boat?

Answers

Answer:

$27,005.62

Explanation:

Data provided in the question:

Down payment made = 18%

Monthly payment = $500

Interest rate, i = 4% per year compounded monthly

Time = 4 years

Now,

Present value of annuity = Monthly payment × [tex]\left[ \frac{1-(1+i)^{-n}}{i} \right][/tex]

n = number of periods

Here,

number of periods , n = 4 × 12 = 48 months

Interest rate per period, i = 0.04 ÷ 12 = 0.003333

on substituting the values

Present value of annuity = $500 × [tex]\left[ \frac{1-(1+0.003333)^{-48}}{ 0.003333 } \right][/tex]

or

Present value of annuity = $500 ×  [tex]\left[ \frac{1 - 1.003333^{-48}}{ 0.003333} \right] [/tex]

or

Present value of annuity = $500 × [tex]\left[ \frac{1 - 0.852384}{ 0.003333} \right][/tex]

or

Present value of annuity = $500 × 44.289229

or

Present value of annuity = $22,144.61

also,

Present value of annuity is (100% - Down payment) i.e (100% - 18%) 82% of the original price

Therefore,

Original price of the boat =  $22,144.61 ÷ 82%

= $22,144.61 ÷ 0.82

= $27,005.62

Final answer:

The original price of Craig's boat is approximately $26,065.21.

Explanation:

Craig's problem can be solved using the formula for an amortizing loan, which is expressed as:

PV = PMT / [(1 - (1 + r)^-n) / r]

, where PV is the loan amount, PMT is the monthly payment, r is the monthly interest rate, and n is the number of payments. Since Craig's monthly payment was $500 and the interest rate was 4% compounded monthly (hence, r=4/12/100=0.00333) for 4 years, or 48 months (hence, n=48). Substituting these values into the formula, we get the loan amount for the boat that Craig financed:

PV = $500 / [(1 - (1 + 0.00333)^-48) / 0.00333]

= $21,375.67. Remember, Craig made an 18% down payment, so the original price of the boat is the loan amount divided by 82% (100% - 18%) = $21,375.67 / 0.82 = $26,065.21.

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In 2017, Coronado Industries, issued for $103 per share, 95000 shares of $100 par value convertible preferred stock. One share of preferred stock can be converted into three shares of Coronado's $20 par value common stock at the option of the preferred stockholder. In August 2018, all of the preferred stock was converted into common stock. The market value of the common stock at the date of the conversion was $25 per share. What total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common stock?

Answers

Answer:

$4,085,000

Explanation:

Given that,

Coronado Industries, issued for $103 per share, 95000 shares of $100 par value convertible preferred stock.

1 share of preferred stock = 3 shares of common stock ($20 par value)

Additional paid in capital:

= Preferred stock - Common stock

= [95,000 shares × $103] - [(95,000 shares × 3 shares) × $20]

= $9,785,000 - (285,000 shares × $20)

= $9,785,000 - $5,700,000

= $4,085,000

The Montauk Company has a dividend reinvestment plan in which shareholders owning 27% of its common stock participate. Last year the firm's EPS was $4.20, and its payout ratio was 60%. There are 2 million shares of common stock outstanding. How much new capital did Montauk raise through the reinvestment program?

Answers

Answer:

Total capital gain will be $1360800

Explanation:

We have given EPS = $4.20

Total number of shares = 2000000

So total Net Income = EPS x No. of shares = $4.20 x 2000000 = $8,400,000

Dividend = 60% x 8,400,000 = $5040000

25% shareholder participated in dividend reinvestment

So Capital raised = 27% x $5040000 = $1360800

So total capital gain will be $1360800

1. The Cozy Company manufactures slippers and sells them at $ 10 a pair. Variable manufacturing cost is $ 5.75 a​ pair, and allocated fixed manufacturing cost is $ 1.75 a pair. It has enough idle capacity available to accept a​ one-time-only special order of 25,000 pairs of slippers at $ 7.50 a pair. Cozy will not incur any marketing costs as a result of the special order.

What would the effect on operating income be if the special order could be accepted without affecting normal​ sales:

(a)​ $0,
(b) $ 43,750 ​increase,
(c) $ 143,750 ​increase, or​
(d) $ 187,500 ​increase?

Show your calculations.

Answers

The effect on operating income be if the special order could be accepted without affecting normal​ sales:(b) $ 43,750 ​increase.

Effect on operating income

Sales             $187,500

(25,000×$ 7.50)                    

Less Variable manufacturing  ($143,750)

(25,000× $ 5.75)

Net Income/(loss)                     $43,750

($187,500-$143,750)

Inconclusion the effect on operating income be if the special order could be accepted without affecting normal​ sales:(b) $ 43,750 ​increase.

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Upon accepting a special order of 25,000 pairs of slippers at $7.50 per pair, The Cozy Company would see an increase in operating income of $43,750. This is calculated by subtracting the additional variable costs from the special order revenue and noting that fixed costs and marketing costs do not change.

The question from The Cozy Company relates to evaluating the impact of accepting a special order on operating income. The company sells slippers for $10 per pair with variable manufacturing costs of $5.75 per pair and allocated fixed manufacturing costs of $1.75 per pair. For a special order of 25,000 pairs at $7.50 a pair, we need to compare the additional revenue from the special order against the additional variable costs of producing the slippers, since fixed costs remain unchanged and no marketing costs are incurred.

Special Order Revenue: 25,000 pairs x $7.50/pair = $187,500

Additional Variable Costs: 25,000 pairs x $5.75/pair = $143,750

Additional Operating Income: $187,500 - $143,750 = $43,750

Therefore, the effect on operating income if the special order is accepted would be an increase of $43,750.

An article in the New Yorker magazine states, "the main burden of trade-related job losses and wage declines has fallen on middle- and lower-income Americans. But...the very people who suffer most from free trade are often, paradoxically, among its biggest beneficiaries." Explain how it is possible that middle- and lower-income Americans are both the biggest losers and at the same time the biggest winners from free trade. Source: James Surowiecki, "The Free-Trade Paradox," New Yorker, May 26, 2008. It would be possible for middle- and lower-income Americans to be both the biggest losers and at the same time the biggest winners from free trade if they are the ones most likely to O A. work in industries that do not have an absolute advantage and purchase those goods in O B. work in industries that have a comparative advantage and purchase those goods in which O C. work in industries that produce at higher total cost than do other countries and purchase 0 D. work in industries that do not have a comparative advantage and purchase those goods in O E. work in industries that produce at higher opportunity cost than in other countries and which other countries have an absolute advantage. other countries have a comparative advantage. those goods that can be produced at lower total cost in the United States. which the United States has a comparative advantage. purchase those goods that can be produced at lower opportunity cost in other countries.

Answers

Answer:

Option E.

Explanation:

In free trade, a country with a comparative advantage in a good produces that good in the long-term. Therefore, if these people are working in an industry in which it has a higher opportunity cost i.e. it does not have a comparative advantage; they will eventually see job loss or fall in income or both. On other hand, when they purchase goods which has lower opportunity costs in foreign, they get access to these at a lower price and can purchase a higher quantity. So, these people are both harmed and benefitted by free trade.

Lexington Company sells product 1976NLC for $50 per unit. The cost of one unit of 1976NLC is $45, and the replacement cost is $43. The estimated cost to dispose of a unit is $10, and the normal profit is 40%.

At what amount per unit should product 1976NLC be reported, applying lower-of-cost-or-market?
a. $20.
b. $40.
c. $43.
d. $45.

Answers

Answer:

b. $40.

Explanation:

We select the lower of each of the following for reporting purposes.

Cost = $45

Replacement cost = $43

Neat realizable value = Selling price - disposal and completion costs

NRV = 50 - 10 = $40

We use lower of the values to take into account obsolete inventory or deterioration of inventory and as such the lowest of NRV is used for recording purposes.

Hope that helps.

James Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year: Cost Retail Beginning inventory$ 30,000$ 45,000 Purchases175,000240,000 Freight-in2,500- Net markups-9,500 Net markdowns-10,000 Sales revenue-205,000 If the ending inventory is to be valued at the lower-of-cost-or-market, what is the cost-to-retail ratio?

a. $207,500 ÷ $285,000
b. $207,500 ÷ $293,500
c. $207,500 ÷ $295,000
d. $207,500 ÷ $294,500
e. 205,000 ÷ $293,500

Answers

Answer:

Option (D) is correct.

Explanation:

Given that,

Cost = Beginning inventory + Purchases + Freight in

        = 30,000 + 175,000 + 2,500

        = $207,500

Retail = Beginning inventory + Purchases + Net markups

         = 45,000 + 240,000 + 9,500

         = $294,500

Cost to retail ratio:

= $207,500 ÷ $294,500

= 0.7046

Therefore, the cost to retail ratio is 0.7046.

The quantity theory of money is based upon the equation of exchange and assumes that V and Q are both ________ over time..

Answers

Answer:

stable

Explanation:

The quantitative theory of money is an economic theory that aims to explain the causes of inflation, that is, the variations in prices and the value of money in a country. To explain inflation, the quantitative theory of money relates the money supply to the general price level.

Select the best statement about the use of Technical Reviews in the current acquisition environment. [Relate the different types of program unique specifications to their appropriate configuration baselines and technical review requirements.]

a. Technical Reviews should be tailored to assess development maturity and risk and to determine readiness to proceed to the next phase.
b. Technical Reviews waste valuable Government and contractor time and should be eliminated to allow more focus on program execution.
c. The same standard set of Technical Reviews should always be conducted on every program to ensure the PM has complete data to support decisions.
d. Technical Reviews are essential since they are vehicles for program problem solving and training new people on the details of the program.

Answers

Option A , Technical Reviews should be tailored to assess development maturity and risk and to determine readiness to proceed to the next phase.

Explanation:

By funding from the United States EPS has planned and executed the regional collaborative effort with CA Trade Agreement (CAFTA-DR) clients for Central America and the Dominican Republic to create environmental impact evaluation rules for three fields identified as priorities of our regional allies: energy, mining, and hospitality.

EPA has also coordinated the regional collaborative project. Agency for Global health.

Volume 1 provides guidance which follows globally understand elements of environmental impact assessment through the use of a glossary and references. Each EIA Technical Review Guideline consists of these components.

For various types of mining, energy and/or tourism projects for the use by t, Volume 1, Part 2 includes examples of Terms of Reference linked to Volumes 1 and 2.

Technical Reviews in the acquisition environment should be tailored to assess development maturity and risk and are essential for ensuring technical accuracy and proceeding to the next phase. They are not a waste of valuable time but rather a necessary component for quality control and informed decision-making in product development.

The use of Technical Reviews in the current acquisition environment is critical for assessing development maturity and risk, and determining readiness to proceed to the next phase. Technical Reviews should be considered as a crucial tool for quality control and validation that ensures the use of appropriate technology, and aids in effective project and requirements management. These reviews should be tailored to match the characteristics of the specific project, such as its complexity, length, and cost, rather than following a one-size-fits-all approach or being disregarded as a waste of time. They play a pivotal role not only in solving program problems but also in validating technical solutions and contributing to the knowledge base of stakeholders involved in product development.

Considering the rapid pace of product development, specifications may not always keep up, which makes subject matter experts' reviews even more important. These experts can review working models or prototypes and provide critical feedback to ensure technical accuracy and completeness. Moreover, by involving technical writers and experts in product meetings, live demonstrations, and feasibility testing, a comprehensive understanding is fostered, allowing for informed decision-making. Therefore, it is clear that the evaluations of Technical Reviews should be thoughtfully planned and executed to be both useful and practical, aligning with the unique demands of each project.

Almora, a developing open economy, is experiencing an economic boom since it discovered oil reserves off its coast two years ago. Bill Hudson, an economist with the Finance Ministry of Almora, said in an interview that the oil boom has improved the average standard of living in the economy. Robin Peters is an industry analyst who does not agree with Hudson's view. In one of his recent articles in the country's leading business daily, Robin claimed that the high rate of inflation following the boom has actually weakened the expansionary impact on the economy.Which of the following, if true, will support Robin's argument?A.Employment in the country's oil industry reported an annual growth of 15 percent this year.B.The construction sector has expanded by 20 percent in the last two years.C.Almora reduced its petroleum imports this year.D.Almora's agriculture and manufacturing sectors have become less competitive in the world market.E.The government of Almora is expected to have a budget surplus of $2 billion in the current financial year.

Answers

Answer:D. Almora agriculture and manufacturing sectors have become less competitive in the world market.

Explanation:

In increased standard of living means the populace can afford more essential commodities, an expansionary economy means more investment which has lead to more employment. An inflation is the continuous rise in price of goods and services which is as a result of large volume of money in circulation used in exchange for the few available goods and services.

In the above scenario the huge revenue from the oil boom as surpassed the agriculture and manufacturing outputs and this has lead to increase in price and hitherto a fall in demand and which have made them less competitive.

The increase in employment in the oil industry and expansion of the construction industry are positive development. The surplus budget means goverments expected revenue is greater than is expenditures, this will invariably increase savings and threafter investment.

With regard to the OIP,Multiple Choice

the composition of the optimal international portfolio is identical for all investors, regardless of home country.

the OIP has more return and less risk for all investors, regardless of home country.

the composition of the optimal international portfolio is identical for all investors of a particular country, whether or not they hedge their risk with currency futures contracts.

none of the options

Answers

Answer:

D:  None of the options

Explanation:

All the three options are not true with regards to OIP

If firms in a monopolistically competitive industry are earning economic profits, then in the long run:

a. these firms can continue earning economic profits because entry into the industry is blocked.
b. new firms producing close substitutes will continue to enter the market until economic profit is zero.
c. new firms producing the exact same product will enter the industry and this entry will continue until economic profit is zero.
d. the government will most likely regulate firms in this industry to reduce the economic profits.

Answers

Answer:

The correct answer is (C)

Explanation:

If a firm in a monopolistic market is earning an economic profit, it allows other new firms producing the same product to enter the market. So, in long-run new firms will enter the market and create a competitive environment. The firms will keep on entering until every firm achieves normal profits, and till the economic profit is zero.

Situation 1 Bridgeport Cosmetics acquired 10% of the 184,000 shares of common stock of Martinez Fashion at a total cost of $13 per share on March 18, 2020. On June 30, Martinez declared and paid $69,400 cash dividend to all stockholders. On December 31, Martinez reported net income of $113,000 for the year. At December 31, the market price of Martinez Fashion was $14 per share.

Situation 2 Indigo, Inc. obtained significant influence over Seles Corporation by buying 30% of Seles’s 31,400 outstanding shares of common stock at a total cost of $9 per share on January 1, 2020. On June 15, Seles declared and paid cash dividends of $39,100 to all stockholders. On December 31, Seles reported a net income of $85,000 for the year.

Required:

1. Prepare all necessary journal entries in 2020 for both situations.

Answers

Answer:

Please see find the answer in the explanation!

Explanation:

Situation 1:

First entry:

Bridgeport acquired 10% of shares of Martinez Fashion, the double entry would reduce the cash of Bridgeport and increase the asset, see as follows:

Shares Dr $239200 (18400× $13)

           Cash  Cr $239200

On June 30, Martinez declared and paid $69400 cash to all stockholders, Bridgeport will be entitled to 10% of the declared and paid dividend, therefore, dividend income will have to be recorded as follows:

Cash/bank Dr $6940

            Dividend Income Cr $6940

Situation 2:

Indigo Inc obtained significant influence over Seles corporation (making her an Associate). In a group situation, an associate is equity accounted and is recorded as an investment in the statement of financial position and is also entitled to the profits with the proportion of their ownership. First entry would be to record the associate as an investment, see as follows:

Investment in Associate Dr $84780

                                      Bank/Cash Cr $84780

On june 15 Seles declared and paid cash dividend, Indigo Inc will be entitled to 30% of the dividend, see as follows:

Dividend income= $39100× 30%

Dividend income= $11730

Entry:

Cash/Bank Dr $11730

      Dividend income Cr $11730

Unlike Bridgeport Corporation, Indigo Inc will be entitled to 30% of the reported net income as well. The entry is as follows;

Cash/Bank Dr $ 25500 ($85000× 30%)

                 Income Cr $ 25500

Apply the appropriate label to each market situation. 1. Two countries agree to lower import tariffs on selected goods. (international trade) 2. A country loosens its restrictions on foreign-based land ownership. (flow of funds across national borders) 3. A nation permits private firms to compete with the state-owned mail service. (competitive markets)

Answers

Answer: 1 Bilateral trade agreement, 2. Foreign direct investment , 3. Deregulation

Explanation:

Bilateral trade agreement : This can be defined as the agreement between two countries to give each other a free access to each other market. This kind of agreement create a level playing field for the citizens of both countries to compete favourably in each other market without any form of discrimination or restriction whatsoever. The agreement is reached in order to eliminate tariff on goods coming from each other countries or to lower the tariff on goods coming from each other countries.

Foreign direct investment : This is the free movement of money from one country to another for the purpose of investment in business ventures or in properties in that country. It is the ownership of business or investment in one country by an individual or corporate body based in another country. For instance when a foreigner owns an asset such as land or building in another country or business venture.

Deregulation : This is the economic policy by which a government of a nation decides to remove the existing control or any form of regulation in the market with a view to further promote competition in the market. It applies to when a government allows a privately own business to compete in the same market with the government owned business. In this case each company's will compete favourably for its own share of the market which are previously reserved only for the government owned business to operate.

For the current year, Klay Corporation reports the following information:

Net cash inflows from investing activities: $ 40,000

Net cash inflows from financing activities: $ 45,000

Cash at the beginning of the year: $ 340,000

Cash at the end of the year: $ 420,000

What was the company’s cash flows from operating activities?

A cash inflow of $5,000

A cash inflow of $15,000

A cash outflow of $5,000

A cash outflow of $15,000

Answers

Answer:

A cash outflow of $5,000

Explanation:

the sum of cash flows from the operating, investing and financing activities must equal the net change in cash during the period

The company’s cash outflows from operating activities is $5,000.

Particulars                                                                 Amount

Cash at the end of the year                                     $420,000

Less: Net cash inflows from investing activities     ($40,000)

Less: Net cash inflows from financing activities     ($45,000)

Less: Cash at the beginning of the year                 ($340,000)

Cash outflows from operating activities               $5,000      

In conclusion, the Correct Option is C. because the company’s cash outflows from operating activities is $5,000.

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Griffin and Rhodes formed a partnership on January 1, 2009. Griffin contributed cash of $120,000 and Rhodes contributed land with a fair value of $160,000. The partnership assumed the mortgage on the land which amounted to $40,000 on January 1. Rhodes originally paid $90,000 for the land. On July 31, 2009, the partnership sold the land for $190,000. Assuming Griffin and Rhodes share profits and losses equally, how much of the gain from sale of land should be credited to Griffin for financial accounting purposes?
A. $0
B. $15,000
C. $35,000
D. $45,000

Answers

Answer:

correct option is B. $15,000

Explanation:

given data

contributed cash = $120,000

Fair Value of land = $160,000

originally paid = $90,000

Sale value of land = $190,000

to find out

how much of the gain from sale of land should be credited to Griffin for financial accounting purposes

solution

gain on sale is here as

gain on sale = Sale value of land - Fair Value of land -

Gain on sale of land = $190,000 - $160,000

Gain on sale of land = $30000

split the $30000 between the equal partners for a total gain credited to Griffin

total gain credited to Griffin = $15000

so correct option is B. $15,000

What is the difference between a callable bond and a convertible bond?

Answers

Explanation:Convertible bonds. Are corporate bonds that can be converted by the holder into the common stock of the issuing company.

Callable bonds. Called provision option held by the company to repurchase the bond at specific price. Is also called redeemable bonds, jump up etc. While most callable bonds are coupon bonds.

There are no big differences between the two, convertible bonds are often callable, eg corporate bonds can be convertible/callable or the both.

A callable bond is a bond that can be called back in by the issuer prior to maturity. For example, a 10 year bond issued today could be called back in 8 years.

A convertible bond is a bond that converts into the equity of the underlying company. For example, the bond of XYZ company can be converted into the stock of XYZ company under certain conditions.

A convertible bond has the advantage in that there is upside when the owner converts into stock.

Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance Assets Cash $ 127,000 $ 135,000 Accounts receivable 334,000 485,000 Inventory 562,000 490,000 Plant and equipment, net 827,000 780,000 Investment in Buisson, S.A. 407,000 428,000 Land (undeveloped) 245,000 252,000 Total assets $ 2,502,000 $ 2,570,000 Liabilities and Stockholders' Equity Accounts payable $ 386,000 $ 341,000 Long-term debt 1,024,000 1,024,000 Stockholders' equity 1,092,000 1,205,000 Total liabilities and stockholders' equity $ 2,502,000 $ 2,570,000 Joel de Paris, Inc. Income Statement Sales $ 4,114,000 Operating expenses 3,579,180 Net operating income 534,820 Interest and taxes: Interest expense $ 122,000 Tax expense 203,000 325,000 Net income $ 209,820 The company paid dividends of $96,820 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%. Required: 1. Compute the company's average operating assets for last year. 2. Compute the company’s margin, turnover, and return on investment (ROI) for last year. (Round "Margin", "Turnover" and "ROI" to 2 decimal places.) 3. What was the company’s residual income last year?

Answers

Answer:

See Explanation.

Explanation:

1.

Lets compute the average operating assets first.

Avg Operating assets

= Opening Operating Assets + Closing Operating assets / 2

We assume that Investment in Buisson and undeveloped land did not contribute in operating income and thus are omitted from our calculations.

Opening Operating Assets = 127000+334000+562000+827000=$1,850,000

Closing Operating Assets=135000+485000+490000+780000=$1,890,000

Avg operating assets = 1850000 + 1890000 / 2 = $1,870,000

2.

Margin = Net operating Income / Total Turnover

Margin = 534,820 / 4,114,000 = 0.13 or 13%

Turnover on assets = Sales / Average operating assets

Turnover on assets = 4,114,000 / 1,870,000 = 2.2

ROI = NP after Interest and Tax / Avg Total investment    

Avg total investment = (Op+Cl/2)

ROI = 209,820 / (2502,000+2570,000/2) = 0.0827 or 8.27%

3.

Residual Income = Net income - ( Minimum ROR * Common equity value)

For Common equity value we take the closing value.

Residual Income = 209,820 - (0.15 * 1,205,000)

Residual Income = 209820 - 180750 = $29,070

Note: Sometimes there are slight variations in formula elements used for calculation.

Hope that helps.

Being undecided on what to do with $100,000 just received on F's policy, decides to leave the proceeds on deposit with the insurer at interest. The rate being paid is 5%. In one year, what amount will be taxable?

Answers

Answer:

$5,000

Explanation:

If these are death benefit funds then it must be noted that tax is not applicable on the lump sum amount of death benefit but the interests paid on the amount left on deposit with the insurer is taxable. In simple terms, if dividends are left on deposit to earn interest then this interest is taxable!

Interest rate= 5%

Amount= $100,000

Tax= 0.05x100,000

Tax= $5,000

A manager wants to determine the number of containers to use for incoming parts for a kanban system to be installed next month. The process will have a usage rate of 70 pieces per hour. Because the process is new, the manager has assigned an inefficiency factor of .15. Each container holds 40 pieces and it takes an average of 45 minutes to complete a cycle.

a-1. How many containers should be used? (Round up your answer to the next whole number.) Number of containers __________a-2. As the system improves, will more or fewer containers be required?*Fewer*More

Answers

Final answer:

The manager should use 2 containers for the kanban system based on the increased usage rate due to inefficiency. As the process improves and becomes more efficient, fewer containers will be needed.

Explanation:

To calculate the number of containers needed for the kanban system, we first need to determine the demand during each cycle. The usage rate is 70 pieces per hour, but with an inefficiency factor of 0.15, this increases the usage rate to 70× (1 + 0.15) = 80.5 pieces per hour. Since each cycle takes 45 minutes, we need to find the number of pieces used per cycle, which is (80.5 pieces/hour) * (45/60 hour) = 60.375 pieces per cycle. Given that each container holds 40 pieces, we divide the total pieces per cycle by the container capacity: 60.375 pieces / 40 pieces/container = 1.509. Since we cannot have a fraction of a container, we round up to the next whole number, which gives us 2 containers required.

As the system improves, we can anticipate that the inefficiency factor will decrease, meaning fewer pieces will be needed to account for inefficiencies, and consequently, fewer containers may be required in the future.

Lindsey Hunter Corporation is authorized to issue 50,000 shares of $5 par value common stock. During 2020, Lindsey Hunter took part in the following selected transactions.
1. Issued 5,000 shares of stock at $45 per share, less costs related to the issuance of the stock totaling $7,000.
2. Issued 1,000 shares of stock for land appraised at $50,000. The stock was actively traded on a national stock exchange at approximately $46 per share on the date of issuance.
3. Purchased 500 shares of treasury stock at $43 per share. The treasury shares purchased were issued in 2016 at $40 per share. .

Instructions

(a) Prepare the journal entry to record item 1.
(b) Prepare the journal entry to record item 2.

Answers

Answer:

(a).

Dr Cash                                                      218,000

Cr Common Stock                                    25,000

Cr Paid-in capital - Common stock          193,000

( to record the issuance of 5,000 share at $45 with cost of $7,000)

(b)

Dr Land appraised expenses            46,000

Cr Common stock                              5,000

Cr Paid-in capital - Common stock   41,000

( to record the issuance of shares in exchange for land appraisal services at market value of shares issuance)

Explanation:

(a)

Cash receipt is 5,000 x 45 - 7,000 = $218,000; Common stock increase by Par value x stock issuance = 5 x 5,000 = $25,000; Paid-in capital increase by (45-5) x 5,000 - 7,000 = $193,000.

(b)

Common stock increase by par value x stock issuance = 1,000 x 5 = $5,000; Appraisal Expenses is increased at the market value of the shares issuance = 1,000 x 46 = $46,000; Paid-in capital account increase by the amount calculated as ( Share price - Par value) x share issuance = (46-5) x 1,000 = $41,000.

Final answer:

In item 1, the journal entry to record the issuance of 5,000 shares of stock at $45 per share would include a debit to Cash and a credit to both Common Stock and Additional Paid-in Capital. In item 2, the journal entry to record the issuance of 1,000 shares of stock for land appraised at $50,000 would include a debit to Land and a credit to both Common Stock and Additional Paid-in Capital.

Explanation:

(a) Prepare the journal entry to record item 1:

Issued 5,000 shares of stock at $45 per share, less costs related to the issuance of the stock totaling $7,000.

DR Cash $220,000 ($45 x 5,000)

CR Common Stock $25,000 ($5 x 5,000)

CR Additional Paid-in Capital $198,000 ([$45 - $5] x 5,000 - $7,000)

(b) Prepare the journal entry to record item 2:

Issued 1,000 shares of stock for land appraised at $50,000.

DR Land $50,000

CR Common Stock $5,000

CR Additional Paid-in Capital $45,000

Convertible preferred stock Valerian Corp. convertible preferred stock has a fixed conversion ratio of 5 common shares per 1 share of preferred stock. The preferred stock pays a dividend of ​$10.00 per share per year. The common stock currently sells for ​$20 per share and pays a dividend of ​$1.00 per share per year.
a. On the basis of the conversion ratio and the price of the common​ shares, what is the current conversion value of each preferred​ share? b. If the preferred shares are selling at ​$9696 ​each, should an investor convert the preferred shares to common​ shares?
c. What factors might cause an investor not to convert from preferred to common​ stock?

Answers

Answer:

Explanation:

a. On the basis of the conversion ratio and the price of the common shares, what is the current conversion value of each preferred share?

Conversion Value = No of Common Shares × Market Price Per Share

= 5 × $20

= $100

b. If the preferred shares are selling at $9696 each, should an investor convert the preferred shares to common shares?

Total Value of preferred Share = Share Price + Dividend Payment Per Share

= $9696 + $10

= $ 9706

Total Value of 5 Common Stock = ((Market Price of 1 Share + Dividend per Share) × 5)

= ((20 + 1) × 5)

= $ 105

No. The investor should not convert the preferred shares to common shares. This is because, the value of one preferred share exceeds the value of the converted common shares by $9601. Thus, based on the value of the converted and non-converted preferred share, the non-converted preferred share is more valuable than the converted one. Thus, the investor should not convert the preferred shares.

c. What factors might cause an investor not to convert from preferred to common stock?

If the value of the converted shares is lower than that of the original preferred share, it makes the conversion devalue an investor's overall investment value.

Additionally, if the investor is unwilling to have residual claim on profits. This is because common stockholders receive their dividends after debt and preference shareholders get their claims. Therefore, the preferred shareholder could see it best to retain their holdings as Preferred and not Common.

Final answer:

This answer explains the calculation of current conversion value, advises on whether to convert preferred shares, and discusses factors affecting an investor's decision not to convert.

Explanation:

a. Current Conversion Value: The current conversion value of each preferred share can be calculated by multiplying the price of the common shares by the conversion ratio. In this case, $20 (price of common shares) x 5 (conversion ratio) = $100.

b. Convert or Not: If the preferred shares are selling at $96.96 each and the conversion value is $100, the investor should not convert as they would lose $3.04 per share.

c. Reasons against Conversion: Factors that might deter an investor from converting from preferred to common stock include potential loss due to conversion price being higher than the current price, unfavorable market conditions, or preference for stable dividend income.

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