Business High School

Question One The cost of plant in use with Hand Sanitizer Ltd (Hand Sanitizer), a manufacturing firm on 1st April 2018 was GH₵375,000 against which the accumulated depreciation stood at GH₵157,500 on that date. The firm provided depreciation at 30% of the diminishing value. On 31st December 2018 two plants costing GH₵22,500 and GH₵18,000 respectively, both purchased on 1st October 2015, had to be discarded because of damages and had to be replaced by two new plants costing GH₵30,000 and GH₵22,500 respectively. One of the discarded plants was sold for GH₵12,000, against the other it was expected that GH₵4,500 would be realisable. Required: Show the relevant accounts in the ledger of Hand Sanitizer for the year ended 31st March 2019. (7 mark

Answers

Answer 1

Answer:

Hand Sanitizer Ltd

Relevant Ledger Accounts for the year ended 31st March 2019:

a) Plant Account

Date Description Debit Credit

GH₵ GH₵

April 1, 2018 Balance b/d 375,000

Dec 31, 2018 Plants Disposal Account 40,500

Dec 31, 2018 Cash for New Plants 52,500

Dec 31, 2018 Balance c/d 387,000

Total 427,500 427,500

b) Accumulated Depreciation - Plant

Date Description Debit Credit

GH₵ GH₵

April 1, 2018 Balance b/d 157,500.00

Dec. 31, 2018 Plants Disposal Account 27,427.10

March 31, 2019 Depreciation Expense 65,265.63

March 31, 2019 Balance c/d 195,338.53

Total 222,765.63 222,765.63

c) Plants Disposal Account

Date Description Debit Credit

GH₵ GH₵

Dec. 31, 2018 Plant Account 40,500

Dec. 31, 2018 Accumulated Depreciation 27,427.10

Dec. 31, 2018 Cash 12,000.00

Dec. 31, 2018 Loss on Disposal 1,072.90

Total 40,500 40,500

d) Depreciation Expense Account - Plant

Date Description Debit Credit

GH₵ GH₵

March 31, 2019 Accumulated Depreciation 65,265.63

Explanation:

a) Depreciation method is 30% on the diminishing value or the reducing balance. This is one of the methods of asset depreciation. Others are the straight-line method, the accelerated method, and production units method. The diminishing value method calculates depreciation based on the difference between the cost and accumulated depreciation, including disposals. The straight-line method applies the same amount over the useful life of the asset. The accelerated methods ensure that depreciation in the earlier years is greater than in the later years to balance the increasing maintenance costs associated with the asset as the years go by. A variant of the accelerated method is the production units method, which depreciates the asset according to the units of production each year.

b) Accumulated Depreciation on two plants on the reducing balance:

October, 2015 - March 2016 6 months (30% of 40,500 x 6/12) 6,075.00

April 1, 2016 to March 2017 12 months (30% of 34,425) = 10,327.50

April 1, 2017 to March 2018 12 months (30% of 24,097.5) = 7,229.25

April 1, 2018 to Dec. 2018 9 months (30% of 16,868.25 x 9/12) 3,795.35

Total 27,427.10

c) Depreciation Expense for March 31, 2019:

i) Depreciation on old plant (reduced balance):

Balance on asset = 375,000.00

Disposal = -40,500.00

Accumulated Depreciation = -130,072.90

Balance on asset = 204,427.10

30% on 204,427.10 = 61,328.13

ii) Depreciation on new plants:

30% of 52,500 x 3/12 = 3,937.50

i + ii = 65,265.63

d) One of the old plants had not yet been sold. So, nothing was realized from it so far. The GH₵4,500 that would be realisable from its sale had not yet happened and is not taken into account.

Related Questions

Homes for Sale The dataset HomesForSaleCA contains a random sample of 30 houses for sale in California. We are interested in whether there is a positive association between the number of bathrooms and number of bedrooms in each house. (a) What are the null and alternative hypotheses for testing the correlation

Answers

The null and alternative hypotheses for testing the correlation between the number of bathrooms and number of bedrooms in each house can be defined as follows:

Null Hypothesis (H0): There is no correlation between the number of bathrooms and number of bedrooms in houses for sale in California.

Alternative Hypothesis (H1): There is a positive correlation between the number of bathrooms and number of bedrooms in houses for sale in California.

In statistical terms, the null hypothesis assumes that the correlation coefficient between the number of bathrooms and number of bedrooms is zero, indicating no relationship between the two variables. The alternative hypothesis suggests that there is a positive correlation, meaning that as the number of bathrooms increases, the number of bedrooms also tends to increase.

To test these hypotheses, statistical methods such as correlation analysis can be used to calculate the correlation coefficient and assess its significance. The results will help determine whether there is evidence to support the alternative hypothesis of a positive correlation or if the null hypothesis should be retained.

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Federal Reserve Bank board members are staggered, non-renewable, 14 year appointments. How does this impact the operation of monetary policy with regard to Congress and the president

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The staggered, non-renewable, 14-year appointments of Federal Reserve Bank board members have a significant impact on the operation of monetary policy with regard to Congress and the president.

Firstly, the long terms of board members mean that they are not influenced by short-term political pressures or changes in the administration. This allows the Federal Reserve to make decisions based on economic factors rather than political considerations.

Secondly, the staggered appointments mean that board members do not all change at the same time. This ensures a continuity of policy and institutional memory, as new board members are brought on gradually, while experienced members continue to serve.

However, this independence also creates a tension between the Federal Reserve and Congress and the president, as they may have different policy goals.

Congress and the president may want to prioritize short-term economic goals, such as low unemployment and high economic growth, while the Federal Reserve may prioritize long-term goals, such as price stability and financial stability. This can lead to disagreements and conflicts between the Federal Reserve and the other branches of government.

In summary, the staggered, non-renewable, 14-year appointments of Federal Reserve Bank board members help to maintain the independence and stability of the monetary system, but can also create tensions with Congress and the president when they have differing policy goals.

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If there are two lawyers with similar experience and fees, you should make a decision by _____. a. asking other lawyers for recommendations b. comparing the clothing that the lawyers were wearing c. choosing the lawyer with higher fees d. flipping a coin and trusting fate and luck please select the best answer from the choices provided a b c d

Answers

If there are two lawyers with similar experience and fees, you should make a decision by asking other lawyers for recommendations. Option A is correct.

Comparing the clothing that the lawyers were wearing is not a reliable method for making a decision about which lawyer to hire. The clothing a lawyer wears does not necessarily reflect their level of skill or competence. In fact, choosing a lawyer based on their attire could be seen as discriminatory.Choosing the lawyer with higher fees is also not a good decision-making criterion.

A higher fee does not necessarily mean a better lawyer. It could simply reflect the location of the law firm, the lawyer's level of experience, or their personal preferences. It is important to consider the quality of the work the lawyer can provide, not just the cost.Flipping a coin and trusting fate and luck is not a rational or effective method for making a decision about hiring a lawyer.

It is important to base decisions on solid information and reliable criteria to ensure the best outcome. Therefore, asking other lawyers for recommendations is the best option for making a decision when two lawyers have similar experience and fees. Therefore option A is correct.

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FIRST ANSWER WILL BE NAMED BRAINLIEST
Which action would effectively and appropriately address a budget deficit?
A. reduce income
B. reduce expenses
C. apply for bankruptcy
D. apply for new credit

Answers

Answer:

It is letter B

Explanation:

Reducing expenses would effectively and appropriately address a budget deficit. Thus option B is correct.

What is the budget?

A budget is a financial plan that projects future earnings and costs. A budget, put simply, forecasts future finances in addition to anticipated revenues and expenditures. Calculating the company's earnings and costs for a set period of time is the procedure for creating a budget.

Increasing tax rates while decreasing government expenditures are the two apparent ways to minimize a budget deficit. the reduction of government spending and/or the raising of taxes, which results in either a rise in the primary surplus or a decrease in the budget deficit. greater taxes and less funding by the government. If public spending is lower than tax receipts, a budget surplus results.

Therefore, option B is the correct option.

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Which document describes a worker's employment experience, strengths, skills, education, and other qualifications?
A.

Resume
B.

Cover letter
C.

Referral
D.

Reference

Answers

Answer:

A. Resume

Explanation:

A resume is a document prepared by a job seeker to itemize their education qualification and work experiences. It is a formal document sent to a potential employer by a job applicant. The resume shows an applicant's qualifications for the position advertised.

A resume is usually sent together with a cover letter.

Answer:

It's A

Explanation: hope it helps ^w^

When preparing a segment margin income statement ______.

Answers

When preparing a segment margin income statement, one should look at the income statement for the individual business segment and determine the gross margin for that segment. This involves subtracting the cost of goods sold from the segment's sales to determine the gross margin. One should then subtract the other expenses associated with the segment to determine the net margin for that segment.

In order to complete this analysis, one should begin by gathering the necessary financial data. This would include the sales and cost of goods sold for each segment, as well as any other associated expenses. Once all of the information has been gathered, one should subtract the cost of goods sold from the segment’s sales to determine the gross margin. One should then subtract the other expenses associated with the segment to determine the net margin for that segment.

One should also take into account any one-time items that could impact the segment’s results. This includes items such as restructuring charges, acquisition costs, and write-offs. Once all of the items have been taken into account, one should be able to determine the segment’s margin. The segment margin income statement is a useful tool for analyzing the performance of an individual business segment. By taking into account all of the necessary financial data, one should be able to accurately determine the segment’s margin and make informed decisions about the performance of the segment.

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In economics, framing is the manner in which a problem is presented. Can framing influence the choices individuals make?
- No. Framing, or how the problem is presented, will influence the outcome or choices only if the people making the choice cannot form a rational or logical thought. - Yes, but only when there is a difference between options or the choices a person makes. How the options or choices are framed matters to the outcome only if framing shows there is a clear difference between the choices. - Yes. Even when there is no difference between options or the choices a person makes, how the options or choices are framed matters to the outcome; framing matters to how people choose. - No. Framing, or how the problem is presented, will not influence the outcome or choices. Each individual will make a rational and logical choice based on the facts presented; how the facts are presented is irrelevant.

Answers

Yes, framing can influence the choices individuals make in economics. The manner in which a problem is presented can affect the perception of the available options or choices, which can impact the decision-making process.

Yes, framing can influence the choices individuals make in economics. The manner in which a problem is presented can affect the perception of the available options or choices, which can impact the decision-making process. The framing of a problem can also influence the emotions and values associated with the choices, leading to different outcomes. Therefore, it is important to consider the framing of a problem in economic decision-making.

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Yes, framing can influence the choices individuals make, even when there is no difference between options or choices. The way a problem is presented can affect the way people perceive and evaluate the available options, which can ultimately impact their decision-making process.

Research in behavioral economics and psychology has shown that individuals may be susceptible to framing effects, and the same options presented in different ways can lead to different choices. However, it is important to note that framing effects are not universal, and some people may be less susceptible to them than others . It is important to consider the framing of a problem in economic decision-making.

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Match the definitions with the terms.
1. fiscal policy that combines increased government spending and tax cuts to spur economic growth
2. fiscal policy that is created in response to the state of the economy
3. an economic condition in which government expenditures exceed revenue
4. fiscal policy that is created by an act of Congress
5. an annual account of government revenue and expenditures
6. the manner by which Congress and the President use the federal budget to direct the national economy
7. an economic condition in which government expenses are equal to revenue
8. the circulation of dollars that are supported by gold reserves
9. an injection of money into circulation to try and stimulate economic growth
10. an economic condition in which government revenue exceeds expenditures
11. fiscal policy that combines a reduction of government spending with tax hikes to curtail economic growth
1. budget deficit
2. automatic fiscal policy
3. expansionary fiscal policy
4. discretionary fiscal policy
5. federal budget
6. fiscal policy
7. stimulus
8. dollar-gold convertibility
9. contractionary fiscal policy
10. budget surplus
11. balanced budget

Answers

Given are the definitions with the terms:1. Fiscal policy that combines increased government spending and tax cuts to spur economic growth is defined as Expansionary fiscal policy. 2. Fiscal policy that is created in response to the state of the economy is defined as Discretionary fiscal policy.

3. An economic condition in which government expenditures exceed revenue is defined as Budget deficit.4. Fiscal policy that is created by an act of Congress is defined as Discretionary fiscal policy. 5. An annual account of government revenue and expenditures is defined as Federal budget.

6. The manner by which Congress and the President use the federal budget to direct the national economy is defined as Fiscal policy.7. An economic condition in which government expenses are equal to revenue is defined as Balanced budget.

8. The circulation of dollars that are supported by gold reserves is defined as Dollar-gold convertibility.9. An injection of money into circulation to try and stimulate economic growth is defined as Stimulus.10. An economic condition in which government revenue exceeds expenditures is defined as Budget surplus.

11. Fiscal policy that combines a reduction of government spending with tax hikes to curtail economic growth is defined as Contractionary fiscal policy.

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On a multiple step income statement, the category of revenues and expenses reported immediately after operating income is referred to as

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On a multiple-step income statement, the category of revenues and expenses reported immediately after operating income is referred to as "non-operating income" or "non-operating expenses."

Operating income represents the profit generated from a company's core operations, which includes revenue and expenses directly related to its primary business activities. It reflects the financial performance of the company's primary operations, such as sales of goods or services, cost of goods sold, and operating expenses.

Following the operating income section, the non-operating income and expenses are reported. Non-operating income typically includes revenue or gains from activities not directly related to the company's primary operations, such as investment income, interest income, or gains from the sale of assets. Non-operating expenses, on the other hand, are costs incurred that are not directly related to the core business operations, such as interest expenses or losses from the sale of assets.

The inclusion of non-operating income and expenses provides a clearer picture of the company's overall financial performance beyond its primary operations.

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A dot plot titled Miles Emilia Ran Each Week going from 1 to 6. 1 has 2 dots, 2 has 3 dots, 3 has 2 dots, 4 has 2 dots, 5 has 3 dots, and 6 has 4 dots. The dot plot shows the number of miles Emilia ran each week. Which is true of the data in the dot plot? The data is symmetric. The center of the data is 3.5. There is a peak at 3. The spread is from 1 to 6.

Answers

Answer:

The true statement is " The spread is from 1 to 6."

Explanation:

Consider the provide information.

First we will draw the dot plot as shown in the figure.

Now consider the options.

The data is not symmetric as for the symmetry the dots over 1 should be equal to the dots over 6. i.e 4.

Now find the center of the data by calculation the median of the data.

There are 16 dots in total which is an even number.

So, now we will find the average of the two middle values.

This will be the 8th and 9th value average for the given data set of 16 values.

Count from left to right the 8th and 9th values are both 4.

$\text{Median}=\frac{4+4}{2}$

$\text{Median}=4$

Hence, the center of the data is 4.

The second statement is false.

The peak of the data is at 6.

The third statement is false.

The spread is from 1 to 6 as we can see in the figure shown below.

Therefore, the true statement is " The spread is from 1 to 6."

A dot plot titled Miles Emilia Ran Each Week going from 1 to 6. 1 has 2 dots, 2 has 3 dots, 3 has 2 dots,

Suppose total planned expenditures equal $100 billion when the value of the price level is 100. if the price level drops to 90, total planned real expenditures will equal?

Answers

If the price level drops to 90, total planned real expenditures will equal a decrease in aggregate supply and no change in aggregate demand.

This is further explained below.

What is aggregate supply?

Generally, The aggregate supply is the complete supply of products and services generated within an economy at a certain overall price over a specific period of time.

This supply may also be referred to as total output.

In conclusion, In the event that the price level falls to 90, the total projected real expenditures will be equivalent to a decline in aggregate supply while aggregate demand would remain unchanged.

Answers

The correct option is A, The unfunded pension liabilities is estimated to be about $111,438,907.11 at now.

$PV =FV / (1 + r)^n$

$FV = \$\:327\: million,\: r = 6.24\%, and\:\: n = 16\:\: years.$

PV = $\$\:327\: million / (1 + 0.0624)^{16$

PV = $327 million / 2.943

PV = $111,438,907.11

The legal duty or need to make restitution, resolve disputes, or carry out particular tasks is referred to as liability. It may result from a number of different things, including contracts, torts, or statutory requirements. For instance, a business could be responsible for compensating a consumer who was hurt by a faulty product or for paying an employee's medical bills as a result of a work-related injury. Financial commitments such as taxes, loans, or overdue debts can also be considered liabilities.

For businesses, liability may have a big impact since it can change their financial security, public perception, and legal position. It is crucial for business owners and managers to comprehend and successfully manage their obligations by keeping proper insurance coverage, putting safety precautions in place, adhering to rules and regulations, and, if required, consulting a lawyer.

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Complete Question:

Naples agency has an unfunded pension legal responsibility of $327 million that ought to be paid in sixteen years. what's the prevailing price of this legal responsibility at a reduction fee of 6.24 percentage, compounded annually? group of answer picks

A). $111,438,907.11

B). $121,511,366.67

C). $134,519,484.14

D). $124,147,723.50

E). $129,803,162.22

The coach has created a practice schedule on his own, and many of the players are upset about it. The coach developed this schedule from his own research and ideas, and he believes the players should follow along and work with this new goal. Which motivational theory does this scenario represent?.

Answers

The coach has created a practice schedule on his own, and many of the players are upset about it. The coach developed this schedule from his own research and ideas, and he believes the players should follow along and work with this new goal. The motivational theory that this scenario represents is McGregor's Theory X of Motivation.

What is McGregor's Theory X of Motivation about?

Managers who accept Theory X believe that if you believe that your team members dislike their work, have little motivation, need to be watched every minute, are incapable of being accountable for their work, avoid responsibility, and avoid work whenever possible, you are likely to use an authoritarian management style.

According to McGregor, this technique is highly "hands-on" and frequently entails micromanaging people's work to ensure that it is completed correctly.

Theory X emphasizes the value of increased monitoring, external rewards, and punishments, whereas Theory Y emphasizes the motivating role of job satisfaction and encourages employees to tackle jobs without direct supervision.

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What is less liquid, Cash or Stocks and why?

Answers

Cash is considered to be highly liquid because it's already in its most liquid form and doesn't need to be converted, while money you have in stocks is slightly less liquid because there are more steps involved in converting it to cash.

An engineer at a manufacturing plant is investigating part failures identified during product installations at distributed sites. The engineer has narrowed it down to two (2) production lines A and B. She wants to perform a hypothesis test to determine whether the mean failure rate of product identified differs from production line A when compared to B.
if u1 = mean failure rate from production line 1 and u2 = mean failure rate from production line 2
Determine the null and alternative hypothesis for the proposed test?
1: u1 = u2 and Ha: u1 > u2
2: u1 = u2 and Ha: u1 = u2
3: u1 = u2 and Ha: u1 < u2

Answers

An engineer at a manufacturing plant is investigating part failures identified during product installations at distributed sites. The engineer has narrowed it down to two (2) production lines A and B. She wants to perform a hypothesis test to determine whether the mean failure rate of product identified differs from production line A when compared to B.

If u1 = mean failure rate from production line 1 and u2 = mean failure rate from production line 2, the null and alternative hypothesis for the proposed test are as follows:

Null hypothesis: The mean failure rate of the product identified does not differ when compared between production line A and B

u1 = u2

Alternative hypothesis: The mean failure rate of the product identified differs when compared between production line A and B.Ha: u1 ≠ u2

Note: In this case, the null hypothesis, is the mean failure rate of the product identified does not differ when compared between production line A and B. The alternative hypothesis is defined as the mean failure rate of the product identified differs when compared between production line A and B.

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Reebok Ltd is purchasing a $7 million machine, which will cost the firm an additional $45,000 to have the machine transported and installed ready for use. The installed machine is depreciated to a book value of $0.5 million over a tax life of 8 years via the straight-line method. Assume it will be worth the book value in the salvage market at this time. The machine is expected to generate incremental revenues of $4.8 million per year for the firm while also causing incremental costs of $1.3 million per year. Reebok's marginal tax rate is 32.5%. You are forecasting incremental free cash flows for Reebok Ltd. 1. What is the incremental free cash flow associated with the new machine at t=0 ? The free cash flow at t=0 will be $ (Round your answer to the nearest dollar) 2. What is the annual incremental free cash flows each year from t=1 to t=8 ? The annual free cash flow from t=1 onward will be $ (Round your answer to the nearest dollar)

Answers

To calculate the incremental free cash flows associated with the new machine, we need to consider the incremental revenues, incremental costs, depreciation, taxes, and salvage value.

1. Incremental Free Cash Flow at t=0:

The incremental free cash flow at t=0 includes the initial cost of the machine, transportation and installation costs, and the change in working capital. It can be calculated as follows:

Incremental Free Cash Flow at t=0 = Initial Cost + Transportation and Installation Costs - Change in Working Capital

Initial Cost = $7,000,000

Transportation and Installation Costs = $45,000

Change in Working Capital = $0 (assuming no change in working capital is required)

Incremental Free Cash Flow at t=0 = $7,000,000 + $45,000 - $0 = $7,045,000

Therefore, the incremental free cash flow at t=0 is $7,045,000.

2. Annual Incremental Free Cash Flows from t=1 to t=8:

To calculate the annual incremental free cash flows from t=1 to t=8, we need to consider the incremental revenues, incremental costs, depreciation, taxes, and salvage value. We'll use the following formula:

Incremental Free Cash Flow = (Incremental Revenues - Incremental Costs) × (1 - Tax Rate) + Depreciation

Incremental Revenues = $4,800,000

Incremental Costs = $1,300,000

Tax Rate = 32.5%

Depreciation = (Initial Cost - Salvage Value) / Tax Life

Salvage Value = Book Value = $500,000

Tax Life = 8 years

Using these values, we can calculate the annual incremental free cash flows:

Depreciation = ($7,000,000 - $500,000) / 8 = $750,000

Incremental Free Cash Flow = ($4,800,000 - $1,300,000) × (1 - 0.325) + $750,000

Incremental Free Cash Flow = $3,500,000 × 0.675 + $750,000

Incremental Free Cash Flow = $2,362,500 + $750,000

Incremental Free Cash Flow = $3,112,500

Therefore, the annual incremental free cash flow from t=1 to t=8 is $3,112,500.

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HELP

Question

Q. To properly manage your checking account you should do which of the following?

A.Update your transaction register regularly to include all checks, ATM withdrawals, and debit card purchases.

B.Balance your checkbook daily using the most current information about your account by phone, ATM, or online.

C.Promptly review your checking account statement every month.

D.All of the above

Answers

Answer to this question is all of above. D.

advantages of intensive strategies

Answers

Answer:

The advantage of applying an intensive distribution strategy is in generating revenue, product awareness and pushing for impulse buying.

As more products are sold, more money is earned.

As more locations carry the products, the more opportunities there are for manufacturers to make profit.

Explanation:

hope this helps

Adnan Hassan earned 5% commission as a sales trainee. After
promotion to a sales associate, he earned 8% commission. His year-end
report showed $673,874 in total sales and $45,006.52 in commission.
What did his sales total as (a) a sales trainee and (b) a sales associate?

Answers

Answer:

He earns $296780 as a Sales Trainee and $377094 as a Sales Associate

Explanation:

Given

Let x represents his sales as a sales trainee

Let x represents his sales as a sales associate

Total Sales: $x + y = 673874$

Total Commission: $0.05x + 0.08y = 45006.52$

Required

Find x and y

Equations

$x + y = 673874$ --- (1)

$0.05x + 0.08y = 45006.52$ --- (2)

Make y the subject of formula in (1)

$x + y = 673874$

$y = 673874 - x$

Substitute this in (2)

$0.05x + 0.08y = 45006.52$

$0.05x + 0.08(673874 - x) = 45006.52$

Open Bracket

$0.05x + 53909.92 - 0.08x = 45006.52$

Collect Like Terms

$0.05x - 0.08x = 45006.52 - 53909.92$

$- 0.03x = -8903.4$

Divide through by -0.03

$x = \frac{-8903.4}{-0.03}$

$x = 296780$

Recall that

$y = 673874 - x$

$y = 673874 - 296780$

$y = 377094$

Hence;

He earns $296780 as a Sales Trainee and $377094 as a Sales Associate

on july 1, shady creek resort borrowed $450,000 cash by signing a 10-year, 9% installment note requiring equal payments each june 30 of $70,119. what amount of interest expense will be included in the first annual payment? multiple choice $45,000 $29,619 $420,381 $70,119 $40,500

Answers

The amount of interest expense that will be included in the first annual payment is (B) $29,619.

To calculate the interest expense included in the first annual payment, we need to first determine the amount of the payment that will be applied to interest and the amount that will be applied to the principal.

Each year, the total payment of $70,119 will be split between interest and principal.

The interest portion of the payment is calculated by multiplying the outstanding balance of the loan at the beginning of the year by the annual interest rate.

For the first year, the outstanding balance of the loan is the full $450,000 that was borrowed.

Therefore, the interest portion of the first payment can be calculated as:
$450,000 x 0.09 = $40,500

This means that $40,500 of the first payment will be applied to interest expense.

To determine the amount of the payment that will be applied to the principal, we can simply subtract the interest portion from the total payment:
$70,119 - $40,500 = $29,619

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when measuring brand equity it is important to include customers in the measurement effort. T/F

Answers

Measuring brand equity involves evaluating the perceived value of a brand among consumers. True statement.

It is crucial to include customers in the measurement process. Customer-based brand equity is based on the idea that the power of a brand lies in the minds of consumers who have formed an impression of it based on their experiences and interactions with the brand. Therefore, understanding the perceptions and attitudes of customers towards a brand is essential in measuring brand equity accurately.

Customer feedback and insights can help in assessing how well a brand is performing in terms of delivering value and meeting customer expectations. Including customers in the measurement effort can also provide valuable information on areas where the brand needs improvement and help identify opportunities for growth.

Overall, the involvement of customers in measuring brand equity helps to ensure that the metrics used are relevant and accurate, leading to a better understanding of the brand's true value and impact on customers. True statement.

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Error in amortization schedule 乌ி LO14-3 Nakano Food Products, Inc., acquired a packaging machine from Lawrence Specialists Corporation. - Lawrence completed construction of the machine on January 1, 2022. - In payment for the machine Nakano issued a threeyear installment note to be paid in three equal payments at the end of each year. - The payments include interest at the rate of 10%. - Lawrence made a conceptual error in preparing the amortization schedule, which Nakano failed to discover until 2024. - The error had caused Nakano to understate interest expense by $45,000 in 2022 and $40,000 in 2023. Required: I. Determine which accounts are incorrect as a result of these errors at January 1. 2024, before any adjustments. Explain your answer. (Ignore income taxes.) 2. Prepare a journal entry to correct the error. 3. What other step(s) would be taken in connection with the error?

Answers

1. Accounts affected by the errors at January 1, 2024, before any adjustments need to be determined.(2.) A journal entry should be prepared to correct the error.(3.) Additional steps may be required to address the error.

1. Accounts affected by the errors: The errors in the amortization schedule caused Nakano to understate interest expense by $45,000 in 2022 and $40,000 in 2023. As a result, the interest expense account for both years would be understated. The notes payable account would also be affected because the correct amount of interest expense should have been included in the note payable balance. Therefore, at January 1, 2024, before any adjustments, the interest expense and notes payable accounts would be incorrect due to the errors.

2. Journal entry to correct the error: To rectify the errors, a correcting journal entry needs to be made. The entry would involve increasing the interest expense account by $45,000 for 2022 and $40,000 for 2023, as these amounts were previously understated. Additionally, the notes payable account should be adjusted by the same amounts to reflect the correct balances. The journal entry would debit the interest expense account and credit the notes payable account.

3. Other steps in connection with the error: Apart from the journal entry, further steps may be taken to address the error. This may include notifying external parties, such as auditors or stakeholders, about the correction made to the financial statements. It is important to ensure that the corrected financial statements are properly communicated and any necessary disclosures or adjustments are made to prevent future misstatements. Internal controls and review processes may also be evaluated or strengthened to minimize the chances of similar errors occurring in the future.

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what benefits has bioco realized from its use of balanced scorecards.

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It has helped the company to align its goals and objectives with its overall mission and strategy. By measuring key performance indicators (KPIs) across different areas of the business, Bioco can better understand how well it is performing and where improvements are needed. Bioco has realized several benefits from its use of balanced scorecards, including

1. Enhanced strategic focus: Balanced scorecards help Bioco align its operational activities with its strategic objectives, ensuring that resources are directed towards achieving the company's long-term goals.

2. Improved performance measurement: By using a combination of financial and non-financial metrics, balanced scorecards enable Bioco to track its performance across multiple dimensions, providing a more comprehensive view of the organization's progress.

3. Increased accountability: With clear targets and performance indicators, Bioco's employees can better understand their roles and responsibilities, fostering a culture of ownership and accountability.

4. Better decision-making: Balanced scorecards facilitate data-driven decision-making by providing Bioco's management with a holistic view of the organization's performance, helping them identify areas for improvement and prioritize investments.

5. Enhanced communication: The balanced scorecard framework encourages transparency and communication within Bioco, enabling employees to better understand the company's strategic objectives and their role in achieving them.

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SpongeBob SquarePants wants to start a business selling jellyfish as household pets. To get his enterprise started he must take one day off from work at the Krusty Krab to purchase the needed equipment and build the pen for the jellyfish. So SpongeBob has Squidward cover his 8 hour shift (where he makes $5 per hour), goes to the hardware store and purchases a net for $30, fish food for $50, and wire for the pen for $20. After a week of jelly-fishing in his spare time, Mr. SquarePants has captured 28 jellyfish which he plans on selling for $5 each. Assuming that SpongeBob sells all jellyfish:

a) Based on his explicit costs, calculate and define SpongeBob's profit (if any) or loss.

b) Based on both his explicit and implicit costs, calculate and define SpongeBob's profit (if any) or loss.

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a) SpongeBob's profit, based on explicit costs, would be $40.

b) SpongeBob's profit, considering both explicit and implicit costs, would be $0.

a) Based on explicit costs:

SpongeBob's explicit costs include the net cost ($30), fish food cost ($50), and wire cost ($20). The total explicit costs amount to $100. As SpongeBob plans to sell 28 jellyfish for $5 each, his total revenue would be $140 (28 jellyfish × $5 each).

To calculate his profit or loss, we subtract the explicit costs from the total revenue: $140 - $100 = $40. Therefore, SpongeBob's profit, based on explicit costs, would be $40.

b) Based on both explicit and implicit costs:

In addition to the explicit costs, we need to consider the implicit costs, which include the opportunity cost of SpongeBob taking a day off from work at the Krusty Krab. Assuming he earns $5 per hour and works an 8-hour shift, the implicit cost would be $5 per hour × 8 hours = $40.

To calculate the total cost (explicit + implicit costs), we add the explicit costs ($100) and the implicit costs ($40): $100 + $40 = $140. Considering the total cost, SpongeBob's profit or loss would be $140 - $140 = $0. Therefore, SpongeBob's profit, considering both explicit and implicit costs, would be $0.

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which of the following challenges facing hr is related to technology becoming more prevalent in many previously unskilled environments? a. shifts in industries/retraining b. baby boomer retirements c. decreased employee loyalty d. differing benefits preferences

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A. Shifts in industries/retraining is the challenge related to technology becoming more prevalent in many previously unskilled environments.

As technology advances, many unskilled jobs are becoming automated, so employees must be retrained in order to remain employable. This can be a daunting and expensive task for employers, as it may require significant investments in employee training and development for certain industries. Additionally, some employers may have difficulty finding qualified workers to replace those who are retiring or being made redundant due to automation.

This creates a wide range of challenges for human resources departments. They must decide how to best allocate resources towards retraining, and find the most cost effective ways to do so. Companies may need to consider new sources of labour, such as contract workers or offshore staff, in order to remain competitive and meet staffing requirements. Additionally, they must ensure compliance with relevant legislation and regulations, while providing a safe and equitable working environment. Furthermore, they must also consider how to ensure that their retraining initiatives are both effective and cost-efficient. HR departments will also need to ensure a smooth transition for those employees who are being retrained, as well as for those who are entering the workforce for the first time.

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The difficulty associated with technology becoming more prevalent in many previously unskilled environments is shifting in industries and retraining. In this case, option A is correct

Many low-skilled jobs are becoming automated as a result of technological advancements, so workers must retrain in order to stay employable. Due to the potential need for significant investments in employee training and development for some industries, this can be a challenging and costly task for employers. Additionally, some employers might have trouble replacing those who are retiring or losing their jobs as a result of automation with qualified workers.For human resources departments, this poses a variety of difficulties. They must choose how to best allocate funds for retraining and identify the most economical strategies for doing so. Companies might need to think about new labor sources.

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2. An A firm has sales of $10 million, variable costs of $4 million, fixed expenses of $1.5 million, interest costs of $2 million, and a 30 percent average tax rate. A) Compute its DOL, DFL, and DCL. B) What will be the expected level of EBIT and net income if next year's sales rise 10 percent? C) What will be the expected level of EBIT and net income if next year's sales fall 20 percent?

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Answer:

A) DOL = 1.33 times; DFL = 1.80 times; and DCL = 2.4 times

B) Next years expected Earnings before interest and tax = $5.5 million; and Net years expected net income = $2.45 million

C) Next years expected Earnings before interest and tax = $2.5 million; and Net years expected net income = $0.35 million

Explanation:

Note: This platform did allow the explanation to be saved here as it was claiming it contains swearwords. Please, see the attached pdf file for the full answer and explanation.

Budgeting for Needs Select your needs from your cash expenses. CASH Last Month Gas for car$120 Fast food$20 Movie tickets$30 Amusement park$115

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The necessities would be last month's gasoline for the car, while the expenses would be fast food, movie and amusement park tickets.

What are needs and expenses?

Needs are a term that refers to the goods and services that a person needs in a fixed way for their daily life, some examples are:

TransportationFeedingEducationOutfitLiving placeAmong others

According to the above, it can be inferred that car gasoline is a necessity because it is a means of transportation that we can use to go to our work or place of study.

On the other hand, expenses are the goods and services that are not necessary for our daily lives but that we acquire for leisure and entertainment purposes. For example:

Video gameCinemaTheaterMake-upToysSweetStreet foodAmong others

Based on the above, it can be inferred that movie tickets, fast food, and amusement park tickets are expenses.

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As explained in the Help section for the Workforce Compensation, Training, and Product Assembly decision screen, if (1) a company pays a drone PAT member an annual base wage of $24,000, an $800 year-end bonus for perfect attendance, and provides a company-paid annual fringe benefits package worth $3,200, (2) a PAT is paid a $4 assembly quality incentive per UAV drone assembled that is equally divided among 4 PAT members, and (3) a 4-person drone PAT assembles 1500 drones per year, then
the annual total compensation cost of a fully-staffed PAT would be $112,000 and the total compensation cost per drone assembled would be $74.67.
the annual total compensation cost of a fully-staffed drone PAT would be $118,000 and the total compensation cost per drone assembled would be $78.67.
the annual total compensation cost of a fully-staffed PAT would be $106,000 and the total compensation cost per drone assembled would be $70.67.
the annual total compensation cost of a fully-staffed PAT would be $136,000 and the total compensation cost per drone assembled would be $90.67.
the annual total compensation cost of a fully-staffed PAT would be $96,000 and the total compensation cost per drone assembled would be $64.00.

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The annual total compensation cost of a fully-staffed PAT would be $112,000 and the total compensation cost per drone assembled would be $74.67.

To calculate the annual total compensation cost, we need to add up the base wage, year-end bonus, and fringe benefits package for each member of the PAT.

Step 1: Annual base wage + year-end bonus + fringe benefits for a single PAT member:

$24,000 + $800 + $3,200 = $28,000

Step 2: Annual assembly quality incentive for a single PAT member:

(1500 drones * $4) / 4 PAT members = $1,500

Step 3: Total annual compensation for a single PAT member:

$28,000 + $1,500 = $29,500

Step 4: Annual total compensation cost for a fully-staffed PAT (4 members):

$29,500 * 4 PAT members = $118,000

Step 5: Total compensation cost per drone assembled:

$118,000 / 1500 drones = $78.67

Therefore, the correct answer is: b. The annual total compensation cost of a fully-staffed drone PAT would be $118,000 and the total compensation cost per drone assembled would be $78.67.

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Analyzing Finance Workers' Qualities, Skills, and Abilities.

According to the video, what qualities, skills, and abilities do workers in this career cluster need? Check ALL that apply.

a. physical strength for working outdoors and traveling
b. communication skills for explaining complex concepts
c. leadership skills for persuading others to take action
d. the ability to inspire others
e. the ability to be unemotional about business
f. the ability to be comfortable in an office setting

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The qualities, skills, and abilities which workers in this career cluster need are:

B. Communication skills for explaining complex conceptsE. The ability to be unemotional about business F. The ability to be comfortable in an office setting

According to the given question, we are meant to show the abilities, skills which workers that were displayed on video needs to have if they are to thrive in their chosen profession.

As a result of this, we can see that the workers in this particular career cluster needs communication skills, emotional intelligence and ability to be comfortable in an office setting.

Therefore, the correct answers are options B, E and F

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The two major goals for a firm that implements an effective CRM program are;

To capture new leads and move them through the sales process.To boost productivity and lower the overall costs of marketing and sales.

An effective CRM program;

The overall business goals of CRM systems are to help organizations by means of the following;

1. Capture new leads and move them through the sales process

2. Support and manage relationships with current customers to maximize their lifetime value to the company

3. Boost productivity and lower the overall costs of sales and marketing.