Dale’s Business Services experienced the following events during its first year of operations:
1. Acquired $20,000 cash from the issue of common stock.
2. Borrowed $12,000 cash from First Bank.
3. Paid $5,000 cash to purchase land.
4. Received $25,000 cash for providing boarding services.
5. Acquired an additional $5,000 cash from the issue of common stock.
6. Purchased additional land for $4,000 cash.
7. Paid $10,000 cash for salary expense.
8. Signed a contract to provide additional services in the future.
9. Paid $1,200 cash for rent expense.
10. Paid a $1,000 cash dividend to the stockholders.
11. Determined the market value of the land to be $18,000 at the end of the accounting period.
Required:
Classify each event as an asset source, use, or exchange transaction or as not applicable (NA).
Answers
Answer:
Explanation:
AS U BEING MY FRIEND I WILL WARN ABOUT MY HUMAN BEING IN THE TELESCOPE. BUT WHAT I REALLY NEED TO TALK TO U ABOUT IS THE FLYING SAUSAGE INCIDENT I DON’T THINK I TALKED TO U ABOUT THIS BUT U REALLY SHOULD KNOW THAT I AM SECRETLY A FLYING SAUSAGE NOT ONLY AM I A FLYING SAUSAGE BUT I AM THE FLYING SAUSAGE THAT TOOK THE WALKING CHEESEBURGERS PICKLES. I NEED UR HELP TO ESCAPE THE POLICE MEN BECAUSE THE ONLY REASON I STOLE HIS PICKLES WAS BECAUSE I WAS GOING THROUGH THIS THING WHERE ALL I WANTED TO DO WAS EAT PICKLES AND MY MOM WOULDN’T BUY ANY. I HAD NO MONEY SO I DIDN’T KNOW WHAT ELSE TO DO. I WALKED OVER TO THE CHEESEURGER AND TOOK HIS PICKLES. APPARENTLY THATS AGAINST THE LAW BUT I STILL DID IT. I ALREADY ATE THE PICKLES SO I CAN’T RETURN THEM. I ASKED BOBBYJO TO PUT ME IN A BOX AND SEND ME TO NORTH CAROLINA SO I AM NOW IN NEW ENGLAND I NEED U TO GO ON A SECRET MISSION AND GO BUY ME A PRIVATE JET U SEE I CAN NOT FLY ANYMORE SO I NEED SOMEONE TO SEND ME A PRIVATE JET NOT A AIRPLANE I ALREADY HAVE 2,345 AIRPLANES PLEASE DO NOT SEND ME AN AIRPLANE.PLEASE AND THANK YOU I HOPE U CAN COMPLETE MY MISSION.
THE YOUNG HOT WING
DID U KNOW THAT A LONG TIME AGO THERE ONCE WAS A YOUNG HOT WING HE WAS A VERY NICE HOT WING EXCEPT HE WANTED TO HE TOMATO'S NOT JUST NORMAL TAMATO'S BUT TOMATO'S FROM A CLOWNS NOSE. HE HAD TO HAVE THE CLOWNS NOSE'S FOR EVERY MEAL BUT THEY HAD TO BE USED.
THIS HOT WING ENDED UP AS A MODEL IN THE 1780'S. HE TURNED OUT NICE AND RED WITH HOT SAUCE. ONE DAY AT A MODELING SHOW A GUY DECIDED TO GO UP ON STAGE AND TAKE A BIG JUICY BITE OUT OF THE HOT WING. THE HOT WING CRIED AND CRIED FOR A MILLION YEARS BECAUSE HE COULD NO LONGER BE A MODEL. AFTER HE CRIED FOREVER HE WAS VERY MOLDY SO HE STARTED TO CRY AGAIN. AFTER THAT THE LITTLE MOLDY PARTS CAME OF OF HIM AND BECAME SERGEANTS THEY STICTICHED UP THE HOTWINGS WHOLE. BY NOW THE YOUNG HOT WING IS A VERY OLD BUT HE STILL COMPLETED HIS MODELING CAREER. AFTER THE SERGEANT'S FIXED UP THE HOT WING THEY GOT A HOTDOG AND ATE IT.
Related Questions
What is a positive and what is a normative statement?
Answers
Answer:
normative statement: conclusions based on value judgments that cannot be tested
positive statement: conclusions based on logic and evidence that can be tested.
Hope that helps
Have a good day
When you see an advertisement for a store and decide to shop there, which element of the marketing mix has succeeded?
O Presentation
O Product
O Place
O Promotion
Answers
Answer:
Promotion
Explanation:
Because it is telling people that the product is ready for them to buy it
A company had issued 10,000 bonds which had a par value of $50 and currently sold at $60. The company is expected to pay 10% interest for the next 5 years. In addition to this the preferred stock of the company is issued at $150 which a promised dividend of 8 per share. The common stock holders will receive $2 per share and this will grow T 8% for the first 3 years, 6% for the other 3 years and it will grow at 5% for indefinite period. Assume the tax rate is 35%. The capital structure of the company is composed of 600,000 common stock, 200,000 preferred stock and 100,000 is debt.
A) Find the cost of capital for each sources A) Find the weighted average cost of capital
Answers
To calculate the cost of capital for each source, we'll consider the cost of debt, cost of preferred stock, and cost of common stock.
1. Cost of Debt:
The cost of debt is the interest rate the company pays on its debt. In this case, the company has issued bonds with a par value of $50, currently selling at $60, and a coupon rate of 10% for 5 years.
Cost of Debt = (Interest Expense / (Bonds Market Value - Bond Discount)) * (1 - Tax Rate)
Interest Expense = Bonds Market Value * Coupon Rate
Bonds Market Value = Number of Bonds * Bond Selling Price
Number of Bonds = 10,000
Bond Selling Price = $60
Coupon Rate = 10%
Tax Rate = 35%
Interest Expense = $60 * 10,000 * 10% = $60,000
Bonds Market Value = 10,000 * $60 = $600,000
Bond Discount = Par Value - Bond Selling Price = $50 - $60 = -$10 (Negative value because the bond is selling at a premium)
Cost of Debt = ($60,000 / ($600,000 - (-$10))) * (1 - 0.35) = $6,000 / $600,010 * 0.65 = 0.064997 (approximately 6.50%)
2. Cost of Preferred Stock:
The cost of preferred stock is the dividend rate the company pays on its preferred stock. In this case, the preferred stock is issued at $150 with a promised dividend of $8 per share.
Cost of Preferred Stock = Dividend / Preferred Stock Price
Dividend = $8
Preferred Stock Price = $150
Cost of Preferred Stock = $8 / $150 = 0.053333 (approximately 5.33%)
3. Cost of Common Stock:
The cost of common stock is calculated using the dividend growth model. The dividend is expected to grow at different rates for different periods.
First 3 years: Dividend Growth Rate = 8%
Next 3 years: Dividend Growth Rate = 6%
Indefinite period: Dividend Growth Rate = 5%
Cost of Common Stock = Dividend / Current Stock Price + Growth Rate
Dividend = $2
Current Stock Price = Market Price
Growth Rate = Dividend Growth Rate
Cost of Common Stock = $2 / Market Price + Growth Rate
Weighted Average Cost of Capital (WACC):
The weighted average cost of capital is the weighted average of the costs of each source of capital, considering their respective proportions in the capital structure.
WACC = (Weight of Debt * Cost of Debt) + (Weight of Preferred Stock * Cost of Preferred Stock) + (Weight of Common Stock * Cost of Common Stock)
Weight of Debt = Debt / Total Capital
Weight of Preferred Stock = Preferred Stock / Total Capital
Weight of Common Stock = Common Stock / Total Capital
Debt = $100,000
Preferred Stock = $200,000
Common Stock = $600,000
Total Capital = Debt + Preferred Stock + Common Stock = $100,000 + $200,000 + $600,000 = $900,000
Weight of Debt = $100,000 / $900,000 = 0.111111 (approximately 11.11%)
Weight of Preferred Stock = $200,000 / $900,000 = 0.222222 (approximately 22.22%)
Weight of Common Stock = $600,000 / $900,000 = 0.666667 (approximately 66.67%)
WACC = (0.111111 * 6.50%) + (0.222222 * 5.
The cost of capital for each source can be calculated by determining the cost of debt, cost of preferred stock, and cost of common equity. The cost of debt is 8.33%, the cost of preferred stock is 5.33%, and the cost of common equity is 14.77%.
To find the cost of capital for each source, we will calculate the cost of debt, cost of preferred stock, and cost of common equity.
The cost of debt can be calculated using the formula: Cost of Debt = (Annual Interest Payment / Bond Price) x 100%. In this case, the bond price is $60 and the annual interest payment is 10% of the bond's par value of $50, so the cost of debt is (0.10 * $50 / $60) x 100% = 8.33%.
The cost of preferred stock can be calculated using the formula: Cost of Preferred Stock = Dividend / Stock Price. In this case, the dividend is $8 per share and the stock price is $150, so the cost of preferred stock is $8 / $150 = 5.33%.
The cost of common equity can be calculated using the Dividend Discount Model (DDM) formula: Cost of Common Equity = Dividend / Current Stock Price + Growth Rate. The growth rate for the first 3 years is 8%, for the following 3 years is 6%, and for an indefinite period is 5%. The dividend for common stock is $2 per share. The current stock price can be calculated using the market value of the common stock ($2 * 600,000 = $1,200,000) divided by the number of shares (600,000), which equals $2 per share. The cost of common equity is $2 / $2 + 0.08 + 0.06 + 0.05 = 14.77%.
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is it right to kick someone out just because they are not on the lease and or had been evicted in the past?
Answers
Several years ago Doug invested $27,250 in stock. This year he gave his daughter Tina the stock on a day it was valued at $24,500. She promptly sold it for $23,450. Assume Doug is not married and does not support Tina, who is 28.
Required:
a. Determine the amount of the taxable gift.
b. Calculate the amount of taxable gain or loss, if any, for Tina.
Answers
Answer:
B
Explanation:
and i thinks it B
The taxable gift is equal to the fair market value of the gift as of the day it was given, less any relevant exclusions or deductions. There are no indications that any limitations or deductions apply in this situation, and the fair market value of the gift is $24,500.
What is fair market value or FMV?The projected value of an asset, if it were sold right now on the open market, is its fair market value (FMV). FMV is frequently used to value property in real estate, but it is also used to establish the fair market value of shares of stock in companies and other financial assets.
The gift's worth at the time it is delivered is the sole factor that counts. Pay attention to the fact that fair market value, which is what a buyer would pay, is different from the cash value, which is the amount an insurance would pay to replace the item. The difference between cash value and fair market value is typically caused by depreciation.
Therefore, the taxable gift is $24,500.
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according to thomas hobbes's political theory expressed in leviathan, all human are equal in strength and intellect, and if we were all to live unrestrained in our natural state of being, is guaranteed.
Answers
Hobbes is well-known for his early and extensive development of what is now known as "social contract theory,"
which is the strategy of appealing to the agreement that would be reached among appropriately situated rational, free, and equal individuals to justify political principles or arrangements.
What, according to Thomas Hobbes, is politics?His idea of the state of nature places politics in the individual's desire to protect his or her life and possessions, and he says that the government's job is to help people achieve these goals. Continuous success in achieving our goals is happiness, or "felicity."
Which were Thomas Hobbes' most important ideas?People should agree to a social contract and establish a civil society in order to avoid chaos, which Hobbes compared to the state of nature. Relationships between the absolute sovereign and society are one of Hobbes' most influential tensions.
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Where to write the account name? *
a)At the bottom of T account
b)At the top of T account
c)In the debit side
d)In the credit side
Answers
Answer:
b)At the top of T account
Explanation:
The account name is always written at the top of a T account. The account name is also the account title.
A T account has a standard format. The title or the name is what differentiates them.
onsumer Economics: Tutorial
Part E
At what wage rate will there be excess labor supplied in the market?
Answers
Excess labor supply in the market occurs when the wage rate is above the equilibrium level.
Consumer economics refers to the study of how individuals and households make decisions about what they consume, how they save and invest, and how they allocate their resources.The wage rate at which there will be an excess supply of labor in the market is known as the equilibrium wage rate. This means that the quantity of labor demanded equals the quantity of labor supplied.
At a wage rate above the equilibrium level, there is a surplus of labor available as the quantity supplied of labor is greater than the quantity demanded for labor. On the other hand, at a wage rate below the equilibrium level, there is a shortage of labor as the quantity demanded of labor is greater than the quantity supplied for labor. Thus, the equilibrium wage rate is essential to maintain stability in the labor market.The equilibrium wage rate is determined by the forces of demand and supply.
The demand for labor arises from the demand for goods and services that labor produces. The supply of labor arises from the willingness of people to work at a particular wage rate. The equilibrium wage rate is the wage rate where the quantity of labor demanded is equal to the quantity of labor supplied in the market.Therefore, excess labor supply in the market occurs when the wage rate is above the equilibrium level.
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Which situation best illustrates an effect of the law of supply?
A. A restaurant loses customers when a similar restaurant opens nearby.
B.a theme park gains customers after it lowers its ticket prices
C. A car dealership increases the number of high cost cars it has for sale
D. A store stops selling a brand of phone that is too expensive for its customers
Answers
Answer:
C. A car dealership increases the number of high cost cars it has for sale
Explanation:
APE X
The situation that perfectly illustrates the effect of the law of supply is the increase in the number of cars for sale when the car dealership increases.
Option C is the correct answer.
What is meant by supply?Supply refers to the products that are being manufactured by the producer for sale in the market.
The law of supply states that if the price of products available in the market tends to increase, then the suppliers will also produce more products. This shows a direct relationship between the price of goods and the quantity sold.
Therefore, the law of supply can be figured out from the increase in car dealerships, then the seller is provided with the high-cost cars.
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Two key aspects of financial planning are cash planning and profit planning. Cash planning involves the preparation of the cash budget and profit planning involves preparation of pro forma statements. To make cash budget and pro forma statements for a firm, accounting knowledge is needed. Do accounting courses you took before help you better understand how to make cash budget and pro forma income statement and balance sheet? Explain.
Answers
Yes. Accounting courses I took before helps us understand how to make cash budget and pro forma income statement and balance sheet.
Here's how accounting courses can help individuals in creating cash budgets, pro forma income statements, and balance sheets:
Cash Budget: Accounting courses teach students about the importance of cash flow management and how to prepare a cash budget. Pro Forma Income Statement: Accounting courses teach students how to analyze historical financial data and use it to forecast future performance. Balance Sheet: Accounting courses provide a comprehensive understanding of balance sheets and their components. Students learn how to analyze assets, liabilities, and shareholders' equity to assess the financial position of a company.By studying accounting, individuals gain a solid foundation in financial concepts, reporting standards, and analytical techniques. This knowledge equips them with the skills necessary to create cash budgets, pro forma income statements, and balance sheets effectively.
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Suppose that Portugal and Germany both produce beer and stained glass. Portugal's opportunity cost of producing a pane of stained glass is 4 barrels of beer while Germany's opportunity cost of producing a pane of stained glass is 10 barrels of beer.
By comparing the opportunity cost of producing stained glass in the two countries, you can tell that ___ has a comparative advantage in the production of stained glass and ___ has a comparative advantage in the production of beer.
Suppose that Portugal and Germany consider trading stained glass and beer with each other. Portugal can gain from specialization and trade as long as it receives more than ___ of beer for each pane of stained glass it exports to Germany. Similarly, Germany can gain from trade as long as it receives more than ___ of stained glass for each barrel of beer it exports to Portugal.
Based on your answer to the last question, which of the following prices of trade (that is, price of stained glass in terms of beer) would allow both Germany and Portugal to gain from trade?
a. 8 barrels of beer per pane of stained glass.
b. 6 barrels of beer per pane of stained glass.
c. 2 barrels of beer per pane of stained glass.
d. 18 barrels of beer per pane of stained glass.
Answers
Answer:
umm I don't really understand the question
Explanation:
a
how will you react to the following destroying or removing information that could hurt your company if it fell into the wrong hands.
Answers
I will say it is crucial to prioritize ethical behavior and transparency. Instead of destroying or removing information, we should focus on implementing robust security measures to safeguard sensitive data.
How can we protect sensitive information from unauthorized access?Protecting sensitive information from unauthorized access is essential for companies to maintain trust with their stakeholders. Instead of resorting to destroying or removing information, it is more beneficial to invest in robust security measures.
By implementing strong encryption, access controls, and regular security audits, we will significantly reduce the risk of sensitive data falling into the wrong hands. Also, fostering a culture of responsible data handling and training employees on best security practices can further enhance the overall protection of company information.
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Why are single stock so dangerous as investments? Can you provide current market examples that have the potential to destroy portfolios based on single stocks? (name the stock)
Why should you be debt free before you begin long-term investing?
If you could create the perfect mutual fund, what companies would you put in it?
Answers
Answer:
There are two rules to investing. Rule number one, don’t lose money. Rule number two, see rule number one.” Individual stocks are far riskier than a well-diversified basket of stocks. According to Cambridge Associates, during the 10 year period ended June 30, 2013, 55 stocks in the S&P 500 lost at least half of their market value.
Explanation:
Which go where? Put the letter next to the right one , there could be the same letter for each one more than once
Answers
Answer:
Explanation:
Which go where? Put the letter next to the right one , there could be the same letter for each one more than once 1 in 1 is 2 cookies so if o eat one cookie you have one cookie
explain 5 ways in which business studies is a living subject
Answers
Five ways in which business studies is a living subject:
Evolving technologiesEconomic shiftsChanging consumer preferencesSustainability and ethical issuesGlobalizationHow is business studies a living object ?Business studies is an ever-evolving subject that continuously updates itself to reflect the latest developments and trends in the contemporary business environment. The dynamic global economy, characterized by recessions, inflation, and changing trade policies, can have significant consequences on businesses. It compels them to adapt quickly in order to remain profitable.
Furthermore, as society shows a growing inclination towards sustainability and ethical concerns, businesses must incorporate these principles into their practices. This highlights the importance of keeping up-to-date with these changes for students studying in business studies so they can gain success in today's innovative business world.
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Economical Environment
Political Environment
Social Environment
Legal Environment
Technological Environment
You are considering switching your Internet and cable providers and DIRECTV is advertising an introductory rate of $30 a month for a two-year contract the introductory rate goes away after six months and the rate will raise to $75 a month after that in aaddition to switch now you will be entered into a drawing for a chance to be an extra in the companies next hilarious commercial you pay $50 a month with your current provider and there's no contract should you switch?
Answers
Answer:
DIRECTV:
($30)(6) + ($75)(18) = $1530
Current:
($50)(24) + $1200
Do not switch providers.
Explanation:
You should not switch providers because, in the long run, you will be paying less money with your current provider than with DIRECTV. Emotionally, you may want to purchase DIRECTV's contract because of the drawing; however, there is a low probability that you would actually be chosen, so it is not worth the increase in payments.
The insurance industry was put into the care and authorization of the individual states by the passing of the _____.
McCarran-Ferguson Act
Health Insurance Portability and Accountability Act
Affordable Care Act
Dodd-Frank Act
Answers
The insurance industry was put into the care and authorization of the individual states by the passing of the Health Insurance Portability and Accountability Act.
What is Health Insurance Portability and Accountability Act?The two principal goals of the Health Insurance Portability and Accountability Act of 1996 (HIPAA) could best be summarized as: guaranteeing that employees could maintain continuous health insurance if they lost or changed employment, and preserving the privacy of individual health information.
Streamlining industry inefficiencies, reducing paperwork, making it simpler to detect and prosecute fraud and abuse, and allowing workers in all professions to change occupations even if they (or family members) have pre-existing medical issues are the purposes and objectives of this legislation.
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PLEASE ANSWER I REALLY WANT TO GRADUATE
1. What are the differences between a sales tax and a use tax?
A. A sales tax is levied on the purchases of goods while a use tax is levied on the purchases of sevices.
B. A sales tax is collected when a good or service is purchased by a consumer while a use tax is collected when a good or service is purchased by a businesses.
C. A sales tax is on the purchase of goods and services at the point of sale while a use tax is paid on goods and services purchased when sales tax was not paid.
D. A sales tax on goods and services is paid by a region's residents and a use tax is paid by non-residents, both at the point of sale.
2. Compare how Medicare taxes are paid by individuals who are employees to those who are self-employed.
A. Employees pay half (1.45%) of the Medicare tax while the employer pays the other half. Self-employed individuals pay for both halves of the tax (2.9%).
B. Employees do not pay the Medicare tax and the employer pays for both halves of the tax (2.9%). Self-employed individuals pay for both halves of the tax (2.9%).
C. Employees pay half (1.45%) of the Medicare tax while the employer pays the other half. Self-employed individuals pay half (1.45%) of the Medicare tax.
D. Employees pay for both halves of the tax (2.9%) and the employer does not pay the Medicare tax. Self-employed individuals do not pay Medicare tax.
3. Which type of tax describes excise taxes, sales taxes, and tolls?
A. Progressive tax
B. Flat tax
C.regressive tax
D. Use tax
4. Identify all the groups that pay property tax.
A. Landowners, homeowners, and businesses
B. Businesses and individuals
C. Employers and employees
D. Landowners and homeowners
5. How are businesses taxed with the corporate income tax?
A. Businesses pay a progressive tax based on their total expenses.
B. Businesses pay a proportional tax based on their total receipts.
C. Businesses pay a proportional or progressive tax based on their profits.
D. All businesses pay the same amount of tax each year.
Answers
The differences between a sales tax and a use tax are:
A sales tax is on the purchase of goods and services at the point of sale while a use tax is paid on goods and services purchased when sales tax was not paid.What is used tax about?A lot of states uses Consumer Tax states. While Use Tax is known to be the tax that is placed or tax on the storage, use.
Note that used tax are placed on goods that no sales tax has been paid. Use tax is said to be a complementary or compensating tax used in place of sales tax.
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Answer:
LOOK AT EXPLAINATION FIRST !!
There are different types of taxes that really are levied for each institution in a kind of major way. Income corresponds to taxes paid by individuals on their mostly earned money. Property, on the kind of other hand, corresponds to taxes paid by property owners to state and local governments, contrary to popular belief. Corporate taxes definitely are the taxes that companies are required to pay on their earnings over the course of a year, which essentially is fairly significant.
Explanation:
1. C
2. A
3. C
4. A
5. C
Given a standardized normal distribution (with a mean of 0 and a standard deviation of 1), complete parts (a) through (d) below.
Click here to view page 1 of the cumulative standardized normal distribution table. LOADING...
Click here to view page 2 of the cumulative standardized normal distribution table. LOADING...
Question content area bottom
Part 1
a. What is the probability that Z is between -1.52 and 1.86? (Round to four decimal places as needed.)
A.
P(-1.52 < Z < 1.86) =NORM.S.DIST(1.86,0)-NORM.S.DIST(-1.52,0)= -0.0549
B.
P(-1.52 < Z < 1.86) =NORM.S.DIST(1.86,1)-NORM.S.DIST(-1.52,1)=0.9043
C.
P(-1.52 < Z < 1.86) =NORM.S.DIST(1.86,1)+NORM.S.DIST(-1.52,1)=1.0328
D.
P(-1.52 < Z < 1.86) =NORM.S.DIST(-1.52,1)-NORM.S.DIST(1.86,1)= -0.9043
b. What is the probability that Z is less than -1.52 or greater than 1.86? (Round to four decimal places as needed.)
A.
P(Z < -1.52 OR Z > 1.86) =NORM.S.DIST(-1.52,0)+(1-NORM.S.DIST(1.86,0))=1.0549
B.
P(Z < -1.52 OR Z > 1.86) =NORM.S.DIST(-1.52,1)-(1+NORM.S.DIST(1.86,1))= -1.9043
C.
P(Z < -1.52 OR Z > 1.86) =NORM.S.DIST(-1.52,1)+NORM.S.DIST(1.86,1)=0.1964
D.
P(Z < -1.52 OR Z > 1.86) =NORM.S.DIST(-1.52,1)+(1-NORM.S.DIST(1.86,1))=0.0957
Answers
Answer:
d is the right answer that's my answer
A local pharmaceutical firm of Pakistan has decided to restructure its end to end process as per the quality standards of DRAP (Drug Regulatory authority of Pakistan). The management is keen to implement Quality Management organization wide. You are asked to analyze the entire transformation. • Employee involvement and its benefits • The role of the top management in enforcing quality management • Guidelines of quality costing system ensuring no damages • Requirement for ISO certification
Answers
Answer:
The restructure of the local pharmaceutical firm will cause a great change which is discussed below
Please mark brainliest
Explanation:
The restructure of the local pharmaceutical firm will cause a great change which is discussed below:
Employee involvement and its benefits:
The employees will be greatly involved in the restructure as they will be required to take more precautions while preparing or carrying the medicines, the employees involved in the procedure will be provided with a better health.
The role of the top management in enforcing quality management
The top management will play a vital role in the restructure of the firm because they are responsible for managing its employees and they will be the one imposing all the strict rules which will be required to be followed by the firm.
Guidelines of quality costing system ensuring no damages
This restructure will effect the finance department as well in a way to calculate the cost of the quality measures which will be taken, the operating cost is likely to be increased.
Requirement for ISO certification
The firm will have to get an ISO certificate which will be the proof that the firm follows proper safety measures, the certificate will be provided upon careful investigation of the firm by ISO.
DISCUSS WHY WE NEED BANKS IN THE FINANCIAL SYSTEM?
Answers
Answer:
Because they play a role in the transmission of monetary policy and are one of the government's best tools for gaining economic growth without inflation.
What is a financial system?The financial system is the process by which funds are transferred between those having excess funds(savers) and those needing additional funds(users).
What are banks?A financial establishment that invests money deposited by customers, pays it out when required, makes loans at interest, and exchanges currency. The main function of commercial banks is to accept deposits and then to lend the same money (minus required reserves) back out. Banks make a profit by charging a higher interest rate on loans than the interest rate they pay on deposits. Through the loan process, banks are actually able to create money.
What is Monetary Policy?Monetary Policy is regulating the money supply, controlling inflation/deflation, adjusting the interest rates to regulate the economy, the cost of money, and adjusting the band reserve requirements.
What is inflation?Inflation is a sustained rise in the general price level in an economy over time. This does not mean that the price of every good and service increases, but on average the prices are rising. Therefore constitutes a reduction in purchasing power, where GDP remains constant.
So in the end, why are banks so important to the financial system and overall, the economy of America?A well-functioning financial system is critical to the contemporary economy, and banks play critical roles in society. As a result, they must be safe. In both up and down markets, banks should be able to lend money to people and companies. Payments for products and services should also be completed quickly, securely, and affordably. If banks fail to carry out these responsibilities, the ramifications for the entire economy might swiftly grow so widespread that even the financial sector would be vulnerable to significant shocks. As a result, banks must be able to withstand losses while still meeting their present payment obligations. To do so, banks must adhere to stringent regulatory restrictions. The capital and liquidity (money that can be paid quickly) criteria that banks must fulfill in order to meet their present payment obligations are among them. The banks' internal payment systems must be safe and efficient as well.
The following balances were extracted from the books of VE Enterprise on 31 December 2021.
Particular RM RM
Capital 50,000
Motor vehicles 90,000
Fixtures & fittings 48,500
Inventory as at 1 January 2021 32,200
Allowance for doubtful debts 500
Accumulated depreciations as at 1 January 2021:
Motor vehicles 16,000
Fixtures & fittings 10,400
3% fixed deposit 30,000
4% bank loan 50,000
Sales 199,070
Purchases 73,500
Sales returns 2,050
Purchases returns 2,120
Discount allowed 2,550
Discount received 2,830
Account receivables 37,700
Account payables 48,650
Carriage inwards 3,570
Interest received 450
Commission received 2,600
Salaries 16,100
Electricity bills 5,400
Custom duty on purchases 3,000
Insurances 450
Maintenance expenses 3,300
Drawing 2,300
Cash in hand 6,800
Cash at bank 25,200
Additional information:
1. Inventory as at 31 December 2021 18,180
2. Depreciation for the year ended 31 December 2021 has yet to be provided as follows:
a. Fixtures & fittings: 10% using straight line method
b. Motor vehicles:15% using reducing balance method.
3. Electricity bills was paid in advanced by RM500. Meanwhile RM400 commission are not
received yet.
4. One of the customers Amri Sport Enterprise was declare bankrupt and unable to pay the
debt amount RM700
5. The provision for doubtful debts is to be adjusted to 5% based on remaining account
receivables
6. Salaries are accrued by RM140.
3
7. ‘Purchases’ include goods valued at RM1,040 that were withdrawn by Azwin for her own
personal use.
Required:
a) Prepare Income Statement for the year ended 31 December 2021
(15 marks)
b) Prepare Statement of Financial Position as at 31 December 2021
Answers
a. The Income Statement for the year ended 31 December 2021 is RM80,360.
b. The Statement of Financial Position as at 31 December 2021 is RM206,645.
a) Income Statement for the year ended 31 December 2021:
Sales: RM199,070
Less: Sales returns: RM2,050
Net Sales: RM197,020
Cost of Goods Sold:
Opening Inventory: RM32,200
Purchases: RM73,500
Less: Purchases returns: RM2,120
Add: Carriage inwards: RM3,570
Goods Available for Sale: RM107,150
Less: Closing Inventory: RM18,180
Cost of Goods Sold: RM88,970
Gross Profit: RM197,020 - RM88,970 = RM108,050
Operating Expenses:
Discount allowed: RM2,550
Salaries: RM16,100 + RM140 = RM16,240
Electricity bills: RM5,400 - RM500 = RM4,900
Custom duty on purchases: RM3,000
Insurances: RM450
Maintenance expenses: RM3,300
Total Operating Expenses: RM30,340
Net Profit before Non-operating Items:
Gross Profit - Operating Expenses: RM108,050 - RM30,340 = RM77,710
Non-operating Items:
Interest received: RM450
Commission received: RM2,600 - RM400 = RM2,200
Total Non-operating Items: RM2,650
Net Profit before Tax:
Net Profit before Non-operating Items + Total Non-operating Items: RM77,710 + RM2,650 = RM80,360
b) Statement of Financial Position as at 31 December 2021:
Assets:
Non-current Assets:
Motor vehicles: RM90,000 - (RM90,000 * 15%) = RM76,500
Fixtures & fittings: RM48,500 - (RM48,500 * 10%) = RM43,650
Total Non-current Assets: RM120,150
Current Assets:
Inventory: RM18,180
Account receivables: RM37,700 - (RM37,700 * 5%) - RM700 = RM35,815
Prepaid electricity bills: RM500
Cash in hand: RM6,800
Cash at bank: RM25,200
Total Current Assets: RM86,495
Total Assets: RM206,645
Liabilities and Equity:
Equity:
Capital: RM50,000
Retained Earnings: RM80,360
Total Equity: RM130,360
Current Liabilities:
Account payables: RM48,650
Bank loan: RM50,000
Total Current Liabilities: RM98,650
Total Liabilities and Equity: RM206,645
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a US company owns 80% of interest in a company located on Mars. Martian currency is called The Martian credit during the year the parent company sold inventory that had a cost of 24500 to the subsidiary on account for 28,500 when the exchange was 0.519 to the subsidiary still held one half of the inventory and had not paid the parent company for purchase at the end of the physical year. The unsettled account is denominated in dollars the exchange rate at the fiscal year and was 0.4994 compute the amounts that would be reported for inventory and accounts payable in the subsidiary translated balance sheet the entities functional currency is the Martian credit
Answers
The amounts reported for inventory and accounts payable on the subsidiary translated balance sheet are 18,619 Martian credits and 14,217 Martian credits, respectively.
A US-based company that has an 80% stake in a Martian company has to report the assets, liabilities, and equity of its subsidiary on its consolidated financial statements in US dollars. The Martian currency is known as the Martian credit. During the year, the parent company sold inventory with a cost of 24500 to the subsidiary on account for 28,500 when the exchange rate was 0.519 to the subsidiary.
One-half of the inventory still belongs to the subsidiary, and at the end of the physical year, the subsidiary had not paid for the purchase.The account that remained unpaid is denominated in dollars, and the exchange rate was 0.4994 at the end of the fiscal year.
The functional currency of the company is Martian credit, and the dollar amount of the balance sheet needs to be translated into the Martian currency. In order to calculate the inventory and accounts payable, we will use the current rate method. The first step in the calculation is to find the closing rate of the Martian credit to the US dollar.Exchange rate at the fiscal year-end: $1 = 0.4994
Martian creditThe amount reported for inventory on the subsidiary translated balance sheet can be calculated as follows:
Beginning inventory: 12,250 (since the subsidiary still holds one half of the inventory)
Cost of inventory sold to the subsidiary: 24,500
Closing rate of the Martian credit to the US dollar: 0.4994
Martian credit reported inventory = (12,250 + 24,500) × 0.4994 = 18,619
Martian credits The amount reported for accounts payable on the subsidiary translated balance sheet can be calculated as follows:
Beginning accounts payable: 0Amount owed to parent company: 28,500
Closing rate of the Martian credit to the US dollar: 0.4994
Martian credit reported accounts payable = (0 + 28,500) × 0.4994 = 14,217 Martian credits
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Who is most likely to benefit when the Canadian dollar depreciates against the euro? A. Foreign sellers to Canadian buyers B. Canadian buyers of foreign goods C. Canadian sellers to foreign buyers D. None of these will benefit
Answers
Answer:
A
Explanation:
When the Canadian dollar depreciates against the euro, the value of the Canadian dollar falls relative to the Euro.
For example, the exchange rate before the depreciation is 40 Canadian dollar / Euro. After the depreciation, it is 80 Canadian dollars / Euro.
Goods become more expensive for Canadian buyers of foreign goods. For example, a foreign good costs 160 Euros. Before the depreciation the good would cost (160 x 40) = 6400 Canadian dollars. After the depreciation, it would cost, 12,800 Canadian dollars.
Canadian sellers to foreign buyers don't benefit from the depreciation. Assume a local good costs 40 Canadian dollars. foreigners would pay 1 Euro for the good before depreciation. After depreciation, foreigners would pay 0.5 Euros for the good
Question 5 Shop A charges $275.00 for an oil change and has a gross oil profit percent of 39.1% for its total oil gross profit 96. Shop B charges $275.00 for an oil change and has a gross oil profit percent of 28.4% for its total oil gross profit . Both shops pay $21.25 per gallon of oil. What is the Profit per Lube for Shop B?
Answers
To calculate the Profit per Lube for Shop B, we need to determine the total profit made from each oil change and then divide it by the amount of oil used.
First, we need to find the total oil gross profit for Shop B. We know that Shop B charges $275.00 for an oil change and has a gross oil profit percent of 28.4%. This means the gross oil profit is calculated as a percentage of the total price.
Gross oil profit for Shop B = 28.4% of $275.00
= (28.4/100) * $275.00
= $78.10
Next, we need to calculate the amount of oil used for each oil change. We are given that both shops pay $21.25 per gallon of oil.
Amount of oil used for each oil change = $275.00 / $21.25 per gallon
= 12.94 gallons (rounded to two decimal places)
Finally, we can calculate the Profit per Lube for Shop B by dividing the total oil gross profit by the amount of oil used.
Profit per Lube for Shop B = Gross oil profit for Shop B / Amount of oil used
= $78.10 / 12.94 gallons
≈ $6.03 per gallon
Therefore, the Profit per Lube for Shop B is approximately $6.03 per gallon.
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buying and selling textbooks are two separate decisions made at the margin. textbooks create value both when they are bought and when they are sold.
Answers
The total value have you gained is $235.
The total value acquired from trading the reading material can be determined as follows:
The worth acquired from purchasing the course reading: $450 (the most extreme you were able to pay) - $250 (the genuine cost paid) = $200
The worth acquired from selling the reading material: $125 (half of the first cost paid) - $90 (the worth of the book to you in the wake of finishing the tasks) = $35
Thus, the complete worth acquired from trading the reading material is $200 + $35 = $235.
The total value acquired from trading a course is not set in stone by the distinction between the price tag and the selling cost. Assuming the selling cost is higher than the price tag.
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This question is not complete , Here I am attaching the complete question:
buying and selling textbooks are two separate decisions made at the margin. textbooks create value both when they are bought and when they are sold. think about your decision to buy the textbook for this course. you paid $250 for the book, but you would have been willing to pay $450 to use the book for the semester. suppose that at the end of the semester you could keep your textbook or sell it back to the bookstore. once you have completed the course, the book is worth only $90 to you. the bookstore will pay you 50% of the original $250. how much total value have you gained?
U.S. Treasury issues three types of Treasury securities: Treasury bills (T-bills), Treasury notes (T-notes), and Treasury bonds (T-bonds). The time to maturity (TTM) of T-bills is 12-month or less than 12-month. The TTM of T-notes is between 1 year and 10 years. The TTM of T-bonds is longer than 10 years. Which one(s) (T-bills, T-notes, or T-bonds) belong to the money market instrument(s)? Which one(s) belong to the capital market instrument(s)? If you would like to buy Treasury securities, which one(s) would you purchase? Explain why?
Answers
Answer:
Treasury bills (T-bills) are short-term money market instruments issued by the government to raise short-term funds. They are issued for terms of less than a year and are sold at a discount from their face value. T-bills have maturities of 4, 8, 13, 26, and 52 weeks. Therefore, T-bills belong to the money market instrument(s).
Treasury notes (T-notes) are issued with maturities from two to 10 years and pay interest semi-annually. Therefore, T-notes belong to the capital market instrument(s).
Treasury bonds (T-bonds) are long-term investments that have maturities of 10 to 30 years and also pay interest semi-annually. Therefore, T-bonds belong to the capital market instrument(s).
If you would like to buy Treasury securities, it depends on your investment goals. If you want a short-term investment with low risk and low return, you can consider buying T-bills. If you want a medium-term investment with moderate risk and moderate return, you can consider buying T-notes. If you want a long-term investment with high risk and high return, you can consider buying T-bonds.
Explanation:
I hope this helps
In the prepare phase of your analysis, you described the data sources you used. According to the Case Study Roadmap, this description should include where the data is located and how it is organized. It should also consider issues with bias or credibility, problems with the data, and how you verified its integrity. Finally, your description should explain how the data helped you answer your questions. Take a moment to review your description now. What steps could you take to make it even more descriptive? 1 point
Answers
To make the description of the data sources in the prepare phase more descriptive, you can consider the following steps:
Specify the location of the dataDetail the organization of the dataAddress bias and credibilitySome steps to make the data sources more descriptiveSpecify the location of the data: Provide specific information about the sources of the data, such as the name of the database, website, or organization where the data was obtained. If applicable, mention any specific datasets or files used.
Detail the organization of the data: Describe how the data is structured or organized, whether it is in a tabular format, spreadsheets, databases, or any other specific format. Mention the variables or fields present in the data and how they are arranged.
Address bias and credibility issues: Discuss any potential biases or credibility concerns associated with the data sources. Consider the source's reputation, the methodology used to collect the data, and any known limitations or biases in the data collection process.
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WHich of the following is not a type of skill needed by effective leaders?
Answers
Answer:
WHich of the following is not a type of skill needed by effective leaders?
Answer. power hankering skil
Consider the following BPMN diagram:
Answers
If we look at the process model, we can see that Task A is the first task and must always be completed in order for the model to be run. Further observation reveals that because an exclusive gateway is employed, any of the two jobs, B and C, is carried out individually rather than simultaneously. As we continue to move through the BPMN diagram, we see that task M is the conversing task and is therefore always run along with a networks message flow from it to task F, which is done as soon as a message is received in pool 2 and finishes.
An item of networking hardware or software called a gateway is used in telecommunications networks to allow data to go from one distinct network to another.
The way that gateway differ from routers and switches is that they can join various networks using more than one protocol to communicate and that they can function at any of the seven OSI levels.
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