According to recent studies cited in this chapter, in choosing a bank to supply their deposits and other services, which of the following factors do business firms rank first?

Answers

Answer 1

Answer:

Financial health of lending institution

Related Questions

which 2 statements are true about billable expenses
invoicing for a billable expense must always use an income account,
a default markup percentage can be added automatically on the invoice,
the purchase transaction

Answers

Explanation:

The two true statements about billable expenses are:

1. Invoicing for a billable expense must always use an income account: When invoicing a client for a billable expense, it is necessary to use an income account to record the revenue generated from that expense. This allows for proper tracking of the income related to the expense.

2. A default markup percentage can be added automatically on the invoice: Some businesses may choose to add a markup percentage to the original cost of a billable expense when invoicing the client. This markup percentage helps cover any additional costs or overhead associated with the expense. The use of a default markup percentage can automate this process, making it easier to calculate and include in the invoice.

A marketing firm is studying the affect of its advertising compaign
No of ads(x)= 5,7,4,2,0,3,1,2
No of purchases(y)= 15,18,10,4,2,6,3,6
determine the equation of regression line y=a+bx test hypothesis for slope calcualted in regression equation b=0 use 5% level of significance

Answers

The equation of the regression line is given as ŷ = 2.5X + 0.5

What is a regression line?

The regression line can be defined to be the line that helps us to explain the direction and the given behavior of a set of data. The line helps us in the estimation of the true relation ship between the pair of data. This is usually seen in the form of a linear relationship. The equation helps us to estimate the behavior of the predicted variable by the way the explanatory variable behaves

How to solve for the regression line

The data used for the solution has been given as

No of ads(x)= 5,7,4,2,0,3,1,2

No of purchases(y)= 15,18,10,4,2,6,3,6

These were inputted into the regression calculator to produce the solution that we have here.

The out put from the calculation is given as

Sum of X = 24

Sum of Y = 64

Mean X = 3

Mean Y = 8

Sum of squares (SSX) = 36

Sum of products (SP) = 90

Regression Equation = ŷ = bX + a

b = SP/SSX = 90/36 = 2.5

a = MY - bMX = 8 - (2.5*3) = 0.5

ŷ = 2.5X + 0.5

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A marketing firm is studying the affect of its advertising compaign No of ads(x)= 5,7,4,2,0,3,1,2No of

Which business is exempt from using the accrual basis for accounting? A clothing manufacturer that has average gross annual receipts of $35 million over the last three years. An online retailer that has average gross annual receipts of $45 million over the last three years. A construction contractor who does not have any outstanding accounts receivable at the end of the tax year. A home improvement store that just began business last year and had $2.7 million in gross receipts.

Answers

Answer:

A home improvement store that just began business last year and had $2.7 million in gross receipts.

Explanation:

The IRS allows only a limited number of businesses to use cash basis accounting and in order to do so, the business must be:

Partnership or C corporation with less than $5 million in total sales revenue per yearSole proprietorship or S corporation with less than $1 million in total sales revenueCannot be a publicly traded corporationPersonal service businesses with more than 95% of revenue specifically related to services. Family owned farms with total annual sales revenue less than $25 million.

Irene's team is criticized for never coming up with innovative ideas. What is MOST likely to be a barrier to innovation?

Soft skills

Multiple intelligences

Group think

Diversity

Answers

C. Group think.

Group thinking is the most likely barrier to innovation for Irene's team. Groupthink occurs when a group of people prioritizes consensus and conformity over critical thinking and creativity. In this case, the team may be so focused on agreeing with each other that they fail to consider new or innovative ideas.

Soft skills, multiple intelligences, and diversity can all be beneficial to innovation. Soft skills like communication and collaboration can help team members share ideas and work together effectively. Multiple intelligences can bring different perspectives and approaches to problem-solving. Diversity can bring unique experiences and insights that can lead to more creative solutions.

C. Group think
If you didn’t have a group you wouldn’t be able to have different ideas and solutions.

Silver Star, a construction company, uses a distinctive seven-pointed star that is part of its brand. This star is an example of a

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A construction company called Silver Star employs a striking seven-pointed star as part of its branding. An illustration of an abstract logo is this star.

What is an abstract logo?

Marketing experts claim that businesses employ brand names to help potential buyers remember their names. However, a marketing logos campaign that helps clients recall the companies' names is successful.

A geometrically complex shape that conceptually represents your company instead of an identifiable symbol or image is known as an abstract logo. More crucially, abstract logos can add more meaning to an image, turning yours into a distinctive, lively brand.

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Determine Cost of Land Four Corners Delivery Company acquired an adjacent lot to construct a new warehouse, paying $32,000 and giving a short-term note for $282,000. Legal fees paid were $2,465, delinquent taxes assumed were $11,800, and fees paid to remove an old building from the land were $20,000. Materials salvaged from the demolition of the building were sold for $4,700. A contractor was paid $954,600 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet.

Answers

Answer: $343565

Explanation:

The cost of the land to be reported on the balance sheet goes thus:

Initial cost of land = $32000 + $282000 = $314000

Add: Legal fee = $2465

Add: Deliquescent charges = $11800

Add: Building demolition = $20000

Total = $348265

Less: Material savaged = $4700

Cost of land = $343565

The cost of the land is $343565

can i go to business school

Answers

Answer:

yess

Explanation:

nothing should hold you back from reaching your goals.

Answer:

Apply to schools and sure, why not

Explanation:

15. A retail co. plans to work on a margin of 44% of retail price & to incur other Variable Cost of 4%. If is expected fixed cost of Br. 20,000. A. Find the equation relating Total Cost to sales B. Find the profit if sales are Br. 60,000 C. Find the breakeven revenue D. If profit is Br. 15,000 what should be the revenue level? E. If you have any one item at a price of Br. 15/unit how do you convert the cost equation in terms of revenue in to a cost equation in terms of quantity?

Answers

Financial mathematics refers to the application of mathematical methods to the resolution of financial problems. It applies methods from probability, statistics, stochastic processes, and economic theory.

margin on which retail company works = 44%

variable cost = 4%

fixed cost = Br. 20,000

we need to find:

the equation relating total cost to sales.

the profit if sales are Br . 60,000

the break-even revenue

if profit is Br. 15,000 then what will be its revenue level

how to convert the cost of equation in terms of revenue

(i) given fixed cost = Br. 20,000

VC = 0.4 ₊ 0.56

Y = 0.6x ₊ 20,000

the above formed is the equation relating total cost to sales.

(ii) Π = TR ₋ TC

= 60,000 ₋ (0.6×60000₊20000)

= 60,000 ₋ (36000₊20000)

= 60,000 ₋ 56000

= 4000 birr

(iii) breakeven revenue:

BER or Xe = FC/1₋m = 20000/1₋0.6

= 20000/0.4

=50,000

(iv) Qin sale = FC ₊ π/1₋M

= 20000₊15000/1₋0.6

= 35000/0.4

= 87,500

(V) The cost equation is:

y = bx

87500 = 15x

x = 87500/15

x = 5833.33

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Which of the outcomes in are most appealing to you? Are you more attracted to extrinsic outcomes or intrinsic outcomes?

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Extrinsic outcomes are external rewards such as money, status, or recognition that come from achieving a goal. These outcomes are appealing to some individuals because they provide tangible benefits and can be easily measured by others.

On the other hand, intrinsic outcomes are internal rewards such as personal satisfaction, a sense of accomplishment, or personal growth that come from achieving a goal. These outcomes are appealing to some individuals because they provide a deeper sense of fulfillment and can be more meaningful in the long-term.

Ultimately, whether someone is more attracted to extrinsic or intrinsic outcomes depends on their personal values and goals. Some people may prioritize external rewards and seek to maximize their income or social status, while others may prioritize personal growth and seek to achieve goals that align with their passions and values.

It is important to strike a balance between both types of outcomes and to find a sense of purpose and satisfaction in the goals that we pursue.

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Outline and describe the different forms of Communication and further explain how they are important in an organization. Provide practical example to support your discussion.

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La comunicación desempeña un papel fundamental en el funcionamiento de una organización, ya que permite la transmisión de información, ideas, instrucciones y retroalimentación entre los miembros del equipo. Existen varias formas de comunicación que se utilizan en un entorno organizacional. A continuación, describiré algunas de las formas más comunes:

Comunicación verbal: Es el uso de palabras habladas para transmitir información. Puede ser en forma de reuniones, conversaciones cara a cara, llamadas telefónicas o videoconferencias. La comunicación verbal es rápida y permite una interacción directa entre las personas, lo que facilita la clarificación de dudas y la resolución de problemas en tiempo real. Por ejemplo, durante una reunión de equipo, los miembros pueden discutir ideas, compartir actualizaciones y tomar decisiones conjuntas.

Comunicación escrita: Implica el uso de palabras escritas para transmitir información. Esto incluye correos electrónicos, mensajes de texto, informes, memorandos y documentos formales. La comunicación escrita es útil cuando se requiere un registro permanente de la información y proporciona la oportunidad de revisar y editar antes de enviar el mensaje. Por ejemplo, un gerente puede enviar un correo electrónico detallando las metas y objetivos del proyecto a su equipo para asegurarse de que todos estén al tanto de las expectativas.

Comunicación no verbal: Se refiere a la transmisión de información sin el uso de palabras. Incluye gestos, expresiones faciales, lenguaje corporal y tono de voz. A menudo, la comunicación no verbal puede transmitir emociones y actitudes que pueden complementar o contradecir el mensaje verbal. Por ejemplo, durante una presentación, el lenguaje corporal de un orador puede transmitir confianza y entusiasmo, lo que refuerza su mensaje.

Comunicación formal: Se lleva a cabo a través de canales oficiales y estructurados dentro de la organización. Esto incluye comunicaciones descendentes, como anuncios y políticas de la gerencia hacia los empleados, así como comunicaciones ascendentes, como informes de estado y retroalimentación de los empleados hacia los superiores. La comunicación formal es importante para establecer líneas claras de autoridad y responsabilidad, así como para garantizar la coherencia en la información transmitida.

Comunicación informal: Se produce a través de interacciones sociales no estructuradas entre los miembros de la organización. Esto puede incluir conversaciones informales en el lugar de trabajo, interacciones en las pausas para el café o discusiones en grupos de chat en línea. La comunicación informal es valiosa para fomentar la camaradería, construir relaciones y facilitar el intercambio de ideas no convencionales. Por ejemplo, en un entorno de trabajo abierto, los empleados pueden compartir ideas innovadoras durante una conversación informal en la sala de descanso.

La importancia de estas formas de comunicación en una organización radica en que permiten la colaboración efectiva, la toma de decisiones informada, la resolución de problemas, la coordinación de tareas y la creación de un ambiente de trabajo positivo. Una comunicación clara y efectiva evita malentendidos, reduce los errores, mejora la productividad y fortalece la cohesión del equipo.

Un ejemplo práctico podría ser una empresa de desarrollo de software. En este caso, la comunicación verbal sería esencial para que los miembros del equipo discutan los requisitos del proyecto, compartan actualizaciones diarias y resuelvan problemas en las reuniones diarias de puesta al día (stand-up meetings). La comunicación escrita sería crucial para documentar los requisitos, especificaciones técnicas y cronogramas del proyecto, así como para enviar correos electrónicos y mensajes de chat con actualizaciones y solicitudes de retroalimentación. La comunicación no verbal también tendría un papel importante, ya que el lenguaje corporal y las expresiones faciales en las reuniones ayudarían a transmitir confianza y apoyo entre los miembros del equipo. En cuanto a la comunicación formal, se utilizarían informes de estado y presentaciones formales para mantener a la alta dirección informada sobre el progreso del proyecto. Por último, la comunicación informal se daría en momentos de descanso, donde los empleados podrían discutir ideas, plantear desafíos y fomentar la creatividad en un ambiente más relajado

Answer:

There are several different forms of communication that are important in an organization. These include:

1. Verbal communication: This is the use of spoken words to convey a message. Verbal communication is important in an organization because it allows employees to communicate with each other and with customers. For example, a salesperson might use verbal communication to explain the features of a product to a customer. Another example is a team meeting where employees discuss project updates and share ideas.

2. Nonverbal communication: This is the use of body language, gestures, and facial expressions to convey a message. Nonverbal communication is important in an organization because it can convey emotions, attitudes, and intentions. For example, a manager might use nonverbal communication to show approval or disapproval of an employee's performance. Another example is a job interview where the interviewer might use nonverbal communication to assess the candidate's confidence and professionalism.

3. Written communication: This is the use of written words to convey a message. Written communication is important in an organization because it provides a permanent record of communication. For example, an email can be used to communicate project updates, deadlines, and other important information. Another example is a report that summarizes the results of a project.

4. Visual communication: This is the use of images, graphs, and other visual aids to convey a message. Visual communication is important in an organization because it can help to simplify complex information and make it easier to understand. For example, a chart can be used to show sales trends over time. Another example is a video that demonstrates how to use a product.

All of these forms of communication are important in an organization because they allow employees to share information, ideas, and feedback. Effective communication can also help to build trust and relationships between employees, customers, and partners. For example, if a customer has a positive experience with a salesperson, they are more likely to return to the organization in the future.

A practical example of the importance of communication in an organization is a team project. Effective communication is essential for the success of the project. Team members need to be able to communicate their ideas, concerns, and progress to each other in order to stay on track and meet deadlines. This might involve verbal communication in team meetings, written communication in project reports, and visual communication in presentations. Without effective communication, the project is likely to fail.

5. It is April 19, 2012 and you suddenly remember that your credit card bill is due the next day. You have the money
in your checking account to pay the bill in full. The mailing address for the credit card company is a few thousand
miles away so you assume that it will take a few days for your check to arrive. What should you do?

Answers

Answer:

call the bank or wherever your credit card is from and inform them that you just sent it out in the mail and that it should be there in a few days.

Explanation:

Each of the following items must be considered in preparing a statement of cash flows (indirect method) for Turbulent Indigo Inc. for the year ended December 31, 2017 State where each item is to be shown in the statement of cash flows, if at all. Items
(a) Plant assets that had cost $20,000 6 years before and were being depreciated on a straight-line basis over 10 years with no estimated scrap value were sold for $5,300.
(b) During the year, 10,000 shares of common stock with a stated value of $10 a share were issued for $43 a share
(c) Uncollectible accounts receivable in the amount of $27,000 were written off against Allowance for Doubtful Accounts.
(d) The company sustained a net loss for the year of $50,000. Depreciation amounted to $22,000, and a gain of $9,000 was realized on the sale of land for $39,000 cash.
(e) A 3-month U.S. Treasury bill was purchased for $100,000. The company uses a cash and cash equivalent basis for its cash flow statement.
(f) Patent amortization for the year was $20,000
(g) The company exchanged common stock for a 70% interest in Tabasco Co. for $900,000.
(h) During the year, treasury stock costing $47,000 was purchased

Answers

Answer:

(a) Plant assets that had cost $20,000 6 years before and were being depreciated on a straight-line basis over 10 years with no estimated scrap value were sold for $5,300.

increases cash flows from investing activities

(b) During the year, 10,000 shares of common stock with a stated value of $10 a share were issued for $43 a share

increases cash flows from financing activities

this corresponds to bad debt expense which is included in the income statement

(d) The company sustained a net loss for the year of $50,000. Depreciation amounted to $22,000, and a gain of $9,000 was realized on the sale of land for $39,000 cash.

the net loss and the gain on the sale of land decreases the cash flows from operating activities, while the depreciation expense increases it.the $39,000 received will increase cash flow from investing activities

(e) A 3-month U.S. Treasury bill was purchased for $100,000. The company uses a cash and cash equivalent basis for its cash flow statement.

not included in teh cash flow statements

(f) Patent amortization for the year was $20,000

increases cash flow from operating activities (in a similar way than depreciation)

(g) The company exchanged common stock for a 70% interest in Tabasco Co. for $900,000.

this is a non-cash financing and investing activity

(h) During the year, treasury stock costing $47,000 was purchased

decreases cash flow from financing activities

what should you do in case you know well the subject discussed

Answers

Answer:

learn and listen every single word of class

Pay close attention, because there is always something new to learn and don’t interrupt anyone, then talk when they finish.

A new firm is developing its business plan. It will require $565,000 of assets, and it projects $452,800 of sales and $354,300 of operating costs for the first year. Management is quite sure of these numbers because of contracts with its customers and suppliers. It can borrow at a rate of 7.5%, but the bank requires it to have a TIE of at least 4.0, and if the TIE falls below this level the bank will call in the loan and the firm will go bankrupt. What is the maximum debt-to-assets ratio the firm can use

Answers

Answer:

58.11%

Explanation:

Sales = $452,800

Operating costs= 354,300

Operating Income (EBIT) = $98,500

TIE= 4.00

Maximum interest expense= EBIT/TIE= $24,625

Interest rate= 7.50%

Max. debt =Max interest/Interest rate = $328,333

Maximum debt ratio=Debt/ Assets= 58.11%

At the beginning of the current period, Marin Corp. had balances in Accounts Receivable of $196,800 and in Allowance for Doubtful Accounts of $9,510 (credit). During the period, it had net credit sales of $864,300 and collections of $687,610. It wrote off as uncollectible accounts receivable of $6,804. However, a $3,219 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $24,000 at the end of the period. (Omit cost of goods sold entries.)

Account Titles and Explanation
(A) Accounts Receivable DR - 864,300
Sales Revenue CR - 864,300

(B) Cash DR - 687,610
Accounts Receivable CR - 687,610

(C) Allowance for Doubtful Accounts DR - 6,804
Accounts Receivable CR - 687,610

Cash DR - 3,219
Accounts Receivable CR - 3,219

(D) Bad Debt Expense DR - 18,075
Allowance for Doubtful Accounts CR - 18,075

!!QUESTION!!:
Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts.
Ending balance in Accounts Receivable: $?
Ending balance in Allowance for Doubtful Accounts: $?

Answers

The ending balance in Accounts Receivable is $369,905 and the ending balance in Allowance for Doubtful Accounts is $1,761.

What does Accounts Receivable mean?

Accounts Receivable refers to the amount of money owed to a company by its customers for goods or services that have been sold but not yet paid for. In other words, it represents the company's right to receive payment from its customers. Accounts Receivable is considered an asset on the company's balance sheet and is often a significant component of a company's working capital. As customers make payments on their outstanding balances, the amount in Accounts Receivable decreases, and the amount of cash on the company's balance sheet increases.

To determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts, we need to take into account all the transactions that occurred during the period.

Beginning balance in Accounts Receivable: $196,800

Add: Net credit sales: $864,300

Less: Collections: ($687,610)

Less: Write-offs: ($6,804)

Add: Recovery of previously written-off account: $3,219

Ending balance in Accounts Receivable: $369,905

Beginning balance in Allowance for Doubtful Accounts: ($9,510)

Less: Write-offs: $6,804

Add: Bad debt expense: $18,075

Ending balance in Allowance for Doubtful Accounts: $1,761

Therefore, the ending balance in Accounts Receivable is $369,905 and the ending balance in Allowance for Doubtful Accounts is $1,761.

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What are the implications of formal and informal communications to managers at the workplace

Answers

Answer:

Formal communication is communication through predefined channels set by organizations. Typically conveyed from top leadership to various departments that funnels down to lower level employees. Formal communication is backed by organizational procedure, and it is necessary to fulfill the goals of the organization. Formal communication is created to increase efficiency within an organization and provides a smooth and streamlined method of communication that travels upward and downward. It is used to easily communicate rules, procedures, and company policy to lower level employees. Also, formal communication is used in situations where documentation is needed to prove or disprove a claim or complaint.

Informal communication is more relational than formal. It is not backed by any predetermined channels and can happen anywhere within the organization. The primary goal of informal communication is to preserve and establish relationships with colleagues, superiors, and subordinates. Since it is not defined by any channels, informal communication moves a lot faster; however, it does not leave a paper trail or official documentation. Informal communication is all about relationships, but it is also critical to businesses because it allows employees to give feedback to their superiors. It facilitates the action of upward interface and enables communication to go both ways efficiently.

Consider total cost and total revenue, given in the following table:
In the final column, enter profit for each quantity. (Note: If the firm suffers a loss, enter a negative number in the appropriate cell.)
Total Cost Marginal Cost
(Dollars)
Quantity (Dollars)
0
1
2
3
4
5
6
7
5
6
8
11
15
20
26
35
05
06
07
Total Revenue Marginal Revenue
(Dollars)
(Dollars)
0
6
12
18
24
30
36
42
AAAAAAA
Profit
(Dollars)
In order to maximize profit, how many units should the firm produce? Check all that apply.
04

Answers

The solution to the given question when we consider total cost and total revenue, given in the following table:

The Financial Table

------- | -------- | -------- | -------- | -------- | --------

0 | 5 | 5 | 0 | 0 | -5

1 | 11 | 6 | 6 | 6 | 1

2 | 17 | 6 | 12 | 6 | 5

3 | 24 | 7 | 18 | 6 | 4

4 | 31 | 8 | 24 | 6 | -7

5 | 39 | 8 | 30 | 6 | -9

6 | 47 | 8 | 36 | 6 | -11

7 | 55 | 8 | 42 | 6 | -13

As you can see, the firm's profit is maximized at quantity 3. This is because the marginal revenue is equal to zero at this point, which means that the firm is not making any additional profit by producing more units. In fact, if the firm produces more units, it will actually start to lose money.

Therefore, the answer to the question is 3.

In summary:

The firm's profit is maximized at quantity 3.This is because the marginal revenue is equal to zero at this point.If the firm produces more units, it will start to lose money.Therefore, the answer to the question is 3.

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The following information applies to the questions below.
Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows along with descriptions of items a through h that require adjusting entries on December 31.
Additional Information Items
1. An analysis of WTI's insurance policies shows that $3,864 of coverage has expired.
2. An inventory count shows that teaching supplies costing $3,349 are available at year-end.
3. Annual depreciation on the equipment is $15,458.
4. Annual depreciation on the professional library is $7,729.
5. On September 1, WTI agreed to do five courses for a client for $2,800 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $14,000 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees.
6. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $12,000 of the tuition has been earned by WTI.
7. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee.
8. The balance in the Prepaid Rent account represents rent for December.
WELLS TECHNICAL INSTITUTE
Unadjusted Trial Balance
December 31
Debit Credit
Cash $ 27,849
Accounts receivable 0
Teaching supplies 10,710
Prepaid insurance 16,068
Prepaid rent 2,143
Professional library 32,133
Accumulated depreciation—Professional library $ 9,641
Equipment 74,968
Accumulated depreciation—Equipment 17,139
Accounts payable 36,341
Salaries payable 0
Unearned training fees 14,000
T. Wells, Capital 68,123
T. Wells, Withdrawals 42,845
Tuition fees earned 109,254
Training fees earned 40,702
Depreciation expense—Professional library 0
Depreciation expense—Equipment 0
Salaries expense 51,415
Insurance expense 0
Rent expense 23,573
Teaching supplies expense 0
Advertising expense 7,498
Utilities expense 5,998
Totals $ 295,200 $295,200
a. Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts.
b. Prepare an adjusted trial balance.