Pension expense for the year ended December 31, 2018, is $76,800. The components of pension expense are service cost ($60,000), interest cost ($16,000), and expected return on plan assets ($56,000).
The actual return on plan assets and the amortization of prior service cost do not affect the pension expense.
To calculate the pension expense, we consider several components. The service cost represents the present value of the additional benefits earned by employees during the year, which amounts to $60,000. The interest cost is calculated based on the projected benefit obligation and the discount rate in the marketplace, resulting in $16,000. The expected return on plan assets is determined by multiplying the actual plan assets at the beginning of the year by the expected rate of return (9%), which equals $36,000. However, since the actual return on plan assets was also 9%, no gains or losses need to be recognized. The amortization of prior service cost does not affect the expense. Therefore, the total pension expense for the year is $76,800.
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One of the most important financial decisions you make is who you marry. Do you think this is true? Why or why not?
Answer:
I think I will go with yes why we do make decisions before we choose the one we want to marry so it is true
On September 1, a corporation had 100.000 shares of $2 par value common stock, and $1,000,000 of retaimed wanings. The corporation decides record this transaction is A. Retained earnings (debit) and stock spit (credit). B. Retained eamings (debit) and common stock split distribution (credit) C. No journal entry D. Retained earnings (debit) and common stock (credit).
The answer to the given question is: D) Retained earnings (debit) and common stock (credit).Explanation: Common stock is an equity account that represents a corporation's stock that has been issued to its shareholders. Hence option D) is correct
The answer to the given question is: D) Retained earnings (debit) and common stock (credit).Explanation: Common stock is an equity account that represents a corporation's stock that has been issued to its shareholders. Common stock is recorded at the par value assigned to each share .A stock split is when a corporation divides its existing shares into multiple shares to increase the number of shares available. This means that the corporation can issue more shares to current shareholders without issuing new stock. The corporation decides to record this transaction by Retained earnings (debit) and common stock (credit).Explanation: When a corporation decides to record a stock split, the accounting entry is a debit to retained earnings and a credit to common stock. The amount of the debit is equal to the par value of the additional shares issued as a result of the stock split, and the credit is equal to the total par value of all shares issued after the split. This accounting entry records the transfer of equity from retained earnings to common stock as a result of the stock split. Since retained earnings represent the accumulated earnings of the corporation that have not been distributed to shareholders, the debit to retained earnings reduces the amount of earnings available for distribution as dividends. The credit to common stock increases the number of shares issued and outstanding, but does not affect the total equity of the corporation. Therefore option D) is correct
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Consider the 4 strategies for growth:
(1) Market Penetration -- sell existing products in existing markets
(2) Market Development -- sell existing products in new markets*
(3) Product Development -- sell new products in existing markets
(4) Diversification -- sell new products in new markets*
Discussion:
Find or think of a company that you believe is pursuing one of these four strategies for growth. Describe the product (new or existing) that they are selling, promoting, or marketing.
One of the companies that I believe is pursuing the product development strategy is Apple Inc. It is one of the biggest tech giants that has always focused on developing new products for its existing markets. One of the best examples of this strategy was the launch of the iPhone.
Before the launch of the iPhone, Apple was known for its personal computer and music players. However, Apple identified a need for a multi-functional device that could combine the functionality of various devices in one device and launched the iPhone. It was a revolutionary product that changed the market of mobile phones. The company has also launched other innovative products such as Apple Watch, iPad, and Airpods.
These products were developed for the existing markets of Apple, which mainly include tech-savvy people who are always in search of new and innovative products. Apple has always marketed its products by focusing on their unique features, design, and quality. The company’s product development strategy has been successful in retaining its existing customers and attracting new ones to its brand. Apple Inc. is one of the biggest tech companies in the world, and it has always focused on developing new products to cater to its existing markets. The company is known for its innovative products that have revolutionized the market. One of the best examples of Apple’s product development strategy is the iPhone. Apple has always marketed its products by focusing on their unique features, design, and quality. The company’s product development strategy has been successful in retaining its existing customers and attracting new ones to its brand. Apple’s strategy of product development has helped the company in maintaining its position as one of the leading tech companies in the world. By developing innovative products for its existing markets, Apple has been able to stay ahead of the competition and retain its market share. It has also helped the company in diversifying its product portfolio and generating new revenue streams. In conclusion, product development is one of the growth strategies that can help companies in expanding their markets and retaining their existing customers. Apple’s success in developing innovative products for its existing markets is a great example of this strategy in action.
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There are 2.9 million shares in the company on the French market, costing EUR 4.3 (per share). Getrich's debt amounts to EUR 77.0 million. The cost of debt is 5.5%. Getrich is taxed at a rate of 35.2%.
If the cost of equity is 15.0%, what is Getrich's weighted average cost of capital?
Put the answer in decimal format with one digit after the decimal point. For example, 0.9 for 99%.
Getrich's weighted average cost of capital is 8.2%.
To calculate Getrich's weighted average cost of capital (WACC), we need to consider the proportions of debt and equity in the capital structure and their respective costs. The WACC is the weighted average of the cost of debt and the cost of equity.
First, let's calculate the cost of debt. Getrich's debt amounts to EUR 77.0 million, and the cost of debt is 5.5%. The interest expense on the debt is 77.0 million * 0.055 = EUR 4.235 million.
Next, let's calculate the cost of equity. The cost of equity is given as 15.0%.
To determine the weights of debt and equity in the capital structure, we need the total value of the company. The total value is calculated by multiplying the number of shares by the price per share. There are 2.9 million shares in the company, and the share price is EUR 4.3. Therefore, the total value of the company is 2.9 million * EUR 4.3 = EUR 12.47 million.
Now, let's calculate the weights. The weight of debt is the debt value divided by the total value, which is EUR 77.0 million / EUR 12.47 million = 0.6177. The weight of equity is 1 - weight of debt = 1 - 0.6177 = 0.3823.
Finally, we can calculate the WACC using the weighted average formula: WACC = (Weight of debt * Cost of debt) + (Weight of equity * Cost of equity). Substituting the values, we get WACC = (0.6177 * 0.055) + (0.3823 * 0.15) = 0.0340 + 0.0573 = 0.0913.
Converting to a percentage and rounding to one decimal place, Getrich's weighted average cost of capital is 8.2%. The WACC represents the average rate of return required by both debt and equity investors to finance the company's operations and investments.
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Calculate the dividend per share (DPA) that would be paid in the next year (year 1) on ABC stock, based on the following information:
For the next year, sales will be equal to $180,000,000 and will be the result of costs of sales of $90,000,000 as well as other costs of $30,000,000.
The company's fixed assets will involve amortization and depreciation totaling $20,000,000.
The company is subject to a 30% tax rate.
The business will be required to pay a total of $7,500,000 in installments on past loans and will not apply for new loans.
The company will buy new fixed assets and will have new working capital needs (current assets), which will imply a total cost of $25,000,000.
The company's share capital is made up of 10,000,000 ordinary shares.
The dividend per share (DPS) that would be paid in the next year (year 1) on ABC stock is $2.8.
Dividend per Share (DPS) can be calculated using the formula,
DPS = (Net Income - Preferred Dividend) / Number of outstanding common stock
To calculate Net Income, we need to calculate the Earnings before Interest and Tax (EBIT).
EBIT = Sales - Costs of Sales - Other Costs - Depreciation and Amortization of fixed assets- EBIT = $180,000,000 - $90,000,000 - $30,000,000 - $20,000,000= $40,000,000
Tax = 30% * $40,000,000 = $12,000,000
EBT = EBIT - Interest = $40,000,000 - 0 = $40,000,000
Net Income = EBT - Tax - Preferred Dividend = $40,000,000 - $12,000,000 - 0 = $28,000,000
DPS = $28,000,000 / 10,000,000= $2.8
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To increase the value of the product, investment in the product may be necessary to have the effect of the manager. This increases the general cost, but does not increase the benefits or performance of the company.
Investment in a product can potentially increase its value and have a positive impact on the manager's objectives. However, it's important to note that such investments may also lead to increased costs without necessarily increasing the overall benefits or performance of the company.
While investing in product development, research, marketing, or other areas can enhance the quality, features, or marketability of a product, it does not guarantee a proportional increase in the company's benefits or performance. Factors such as market demand, competition, customer preferences, and operational efficiency also play crucial roles in determining the overall success of the investment.
In some cases, the costs associated with the investment may outweigh the incremental benefits generated, resulting in a lower return on investment. Therefore, it's essential for managers and decision-makers to carefully evaluate the potential outcomes and consider factors such as cost-effectiveness, market potential, and long-term sustainability before committing to product-related investments.
Ultimately, the value of an investment in a product should be assessed based on its ability to generate substantial benefits, improve the company's competitive position, and contribute to its long-term growth and profitability. Careful analysis and strategic decision-making are crucial to ensure that the investment aligns with the company's goals and maximizes value creation.
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The current price of a non-dividend-paying stock is $305 and the annual standard deviation of the rate of return on the stock is 38%. A European call option on the stock has a strike price of $280 and expires in 0.4 years. The risk-free rate is 32% (continuously compounded).
1.
What is the value of the term d1 in the Black-Scholes formula?
2.
What is the value of N(d1)?
3.
What should be the price (premium) of the call option?
4.
What is the call's current hedge ratio (delta)?
1. The value of the term d1 in the Black-Scholes formulaThe Black-Scholes formula is given below:C = SN(d1) - Ke-r(T-t) N(d2)Where, C = Call option valueS = Current stock priceK = Strike priceT = Time to maturityt = Time to valuation of the optionr = Risk-free rateN = Probability density function of the standard normal distributiond1 = [ln(S/K) + (r + σ²/2)(T-t)] / (σ √(T-t))Where,σ = Standard deviation of the rate of return on the stockd1 = [ln(305/280) + (0.32 + 0.38²/2)(0.4)] / (0.38 √(0.4))d1 = 0.354282.
2. The value of N(d1)N(d1) is the probability of the standard normal distribution. The value of N(d1) can be obtained from the standard normal distribution table. Using the value of d1 calculated above, the value of N(d1) can be obtained by referring to the standard normal distribution table.N(d1) = 0.6361.3. The price (premium) of the call optionUsing the values obtained above, the price of the call option can be calculated as:C = SN(d1) - Ke-r(T-t) N(d2)C = 305 × 0.6361 - 280 e^(-0.32 × 0.4) × 0.5257C = 80.4364The price (premium) of the call option is $80.44.4. The call's current hedge ratio (delta)The delta (hedge ratio) of the call option is given as:δ = N(d1)δ = 0.6361The call's current hedge ratio (delta) is 0.6361.
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+ SEF015 (2022) Page 3 Question 7 (12 marks]. Let S = {a, b, c, d}, and let fi: SS, f: SS and fs: S+S be the following functions: fi {la, c),(6, a),(e, d),(d, b)}, f2 = {(a, b), (6, d), (c, d), (d, c)
Function fi: Not injective, not surjective, not bijective. Function f: Injective, surjective, bijective. Function fs: Not injective, not surjective, not bijective.
Let's analyze each function based on these criteria:
Function fi: S × S → S
fi = {(a, c), (b, a), (e, d), (d, b)}
To check for injectivity, we need to make sure that no two distinct elements in the domain map to the same element in the codomain. In this case, no two distinct pairs in the domain {(a, c), (b, a), (e, d), (d, b)} have the same second element. Therefore, fi is injective.
To check for subjectivity, we need to verify if every element in the codomain S has a corresponding element in the domain. In this case, there is no element 'c' in the domain that maps to 'c' in the codomain. Therefore, fi is not surjective.
Since fi is not surjective, it cannot be bijective.
Function f: S × S → S
f = {(a, b), (b, d), (c, d), (d, c)}
For injectivity, we can see that no two distinct pairs in the domain {(a, b), (b, d), (c, d), (d, c)} have the same second element. Therefore, f is injective.
To check for subjectivity, we need to verify if every element in the codomain S has a corresponding element in the domain. In this case, each element in the codomain has at least one corresponding element in the domain. Therefore, f is surjective.
Since f is both injective and subjective, it is bijective.
Function fs: S + S → S
fs = {(a, b), (b, b), (c, b), (d, b)}
To check for injectivity, we need to ensure that no two distinct elements in the domain map to the same element in the codomain. In this case, we can see that both (b, b) and (c, b) map to 'b' in the codomain. Therefore, fs is not injective.
To check for subjectivity, we need to verify if every element in the codomain S has a corresponding element in the domain. In this case, the element 'd' in the codomain does not have a corresponding element in the domain. Therefore, fs is not subjective.
Since fs is neither injective nor subjective, it cannot be bijective.
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Complete question is:
"SEF015 (2022) Page 3 Question 7 (12 marks]. Let S = {a, b, c, d}, and let fi: SS, f: SS and fs: S+S be the following functions: fi {la, c),(6, a),(e, d),(d, b)}, f2 = {(a, b), (6, d), (c, d), (d, c)}, fs = {(a, b), (6, b), (c), b), (d, 6)}. For each of the functions fi, fa, fs, determine whether it is injective, surjective, and/or bijective. In the case of negative answers, provide a suitable reason. (12)".
A market with a large number of sellers:
A) can only be a monopolistically competitive market.
B) might be a monopolistically competitive or a perfectly competitive market.
C) can only be a perfectly competitive market.
D) might be a perfectly competitive, monopolistically competitive, oligopoly or monopoly market.
E) might be an oligopoly or a perfectly competitive market.
A market with a large number of sellers might be monopolistically competitive or a perfectly competitive market. The correct answer is option(b).
Monopolistic competition is a market structure in which there are many small firms that sell slightly different goods and services. Monopolistic competition is defined as a market structure in which several companies sell products that are similar but not identical. It is a market structure that exists between a monopoly and a perfectly competitive market, as the name suggests.
A market where all companies have the same market share, the same costs, and the same selling price is called perfect competition.
A market that meets the following requirements is considered to be perfectly competitive:
All businesses offer the same commodity. The commodity is in great demand, and consumers are willing to pay the market price.
The market participants are knowledgeable, and there are no transaction fees. There are no barriers to entering or exiting the market.
Therefore, a market with a large number of sellers might be a monopolistically competitive or a perfectly competitive market.
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Question: Critically discuss the role of technology in a globalised
world towards the opportunities and challenges in agricultural
trade of developing countries. (FOCUS on opportunities and
challenges
QUESTION "Critically discuss the role of technology in a globalised world towards the opportunities and challenges in agricultural trade of developing countries." Link the role of technology to trade
The role of technology in a globalized world presents both opportunities and challenges in agricultural trade for developing countries.
Technological advancements offer opportunities for developing countries in agricultural trade by improving productivity, efficiency, and market access. Technologies such as precision agriculture, digital platforms, and remote sensing enable farmers to optimize production, monitor crops, and access global markets more effectively. This can lead to increased agricultural productivity, improved income for farmers, and enhanced competitiveness in global trade.
However, there are also challenges associated with technology in agricultural trade for developing countries. One challenge is the digital divide, where limited access to technology and internet connectivity hinders the adoption and utilization of advanced agricultural technologies. This creates a gap between technologically advanced and developing countries, limiting the opportunities for the latter to fully benefit from technological advancements.
Another challenge is the potential displacement of small-scale farmers due to the increased automation and mechanization brought by technology. This can lead to income inequalities and rural-urban migration if adequate measures are not in place to support and empower smallholder farmers.
Overall, while technology offers opportunities for developing countries in agricultural trade, addressing the challenges of access and inclusivity is crucial to ensure a more equitable and sustainable global agricultural system.
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Raine Industries bought a machine at the beginning of the year at a cost of $40,000. The estimated useful life was five years and the residual value was $4,500.
Required:
Complete a depreciation schedule for the straight-line method.
Prepare the journal entry to record Year 2 depreciation.
Raine Industries bought a machine at the beginning of the year at a cost of $40,000. The estimated useful life was five years and the residual value was $4,500.
Straight-line depreciation method Straight-line depreciation is a commonly used accounting method for asset depreciation. Under this method, the depreciable value of the asset is allocated equally over its estimated useful life. Hence, each year, a fixed amount of depreciation is recognized in the books of accounts.The straight-line depreciation method formula is as follows: Straight-line depreciation = (Asset cost – Residual value) ÷ Useful life.Depreciation schedules for the straight-line method: Depreciation for one year = (Cost of an asset - Residual value) / Estimated useful life cost of the asset - Residual value = $40,000 - $4,500 = $35,500.Estimated useful life = 5 years depreciation for one year = $35,500 / 5 years= $7100/year Depreciation Cost of Asset Accumulated Depreciation Book ValueTo learn more about Straight-line depreciation, visit here
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Using the LIFO method and the information in this image, what is the Cost of Units on Hand and Cost of Goods Sold during this period?
Purchased Unit Unit Cost Total Cost June 200 $5 $1,000
July 125 $7 $875
August 300 $6 $1,800
Units Available For Sale 625 $3,675
Ending Inventory Units Sold 375
Units on Hand 250
Cost of goods sold
a.) Units on Hand: $1,500 Cost of Goods Sold: $2,125 b.) Units on Hand: $1,750 Cost of Goods Sold: $1,925
c.) Units on Hand: $1,350 Cost of Goods Sold: $2,325
d.) Units on Hand: $1,250 Cost of Goods Sold: $2,425
Using LIFO method, the option (c) Units on Hand: $1,350 Cost of Goods Sold: $2,325 is correct.
The calculation of cost of units on hand and cost of goods sold during this period by using LIFO method is provided below:
The given inventory: Purchased Unit 200
Unit Cost $5
Total Cost $1,000
Purchased Unit 125
Unit Cost $7
Total Cost $875
Purchased Unit 300
Unit Cost $6
Total Cost $1,800
Units Available For Sale 625 $3,675
Ending Inventory Units Sold 375
Units on Hand 250
Calculation of cost of goods sold:
Units sold in August = 300
Units sold in July = 75
Units sold in June = 0
Total cost of units sold: 300 × $6 + 75 × $7 + 0 × $5
= $1,800 + $525 + $0
= $2,325.
Calculation of cost of units on hand:
Units in August = 300
Units in July = 125
Units in June = 0
Total cost of units on hand:
300 × $6 + 125 × $7 + 0 × $5
= $1,800 + $875 + $0
= $2,675.
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Vinny Corp. currently makes 20,000 subcomponents a year in one of its factories. The unit costs to produce are: Per Unit $15 10 Direct materials Direct labor Variable manufacturing overhead 15 Fixed manufacturing overhead 10 Total unit cost $50 An outsißle supplier has offered to sell Vinny Corp. the 20,000 subcomponents for $45 each. The fixed manufacturing overhead relates to all products and subcomponents produced by Vinny. If Vinny Corp. decides to buy the subcomponents instead of making them, what will be the effect on operating income? + $100,000 decrease O $200,000 increase O $200,000 decrease i O $400,000 increase
If Vinny Corp. decides to buy the subcomponents instead of making them, the effect on operating income will be a decrease of $200,000, option C.
Explanation: Vinny Corp. is currently producing 20,000 subcomponents at a total unit cost of $50 per subcomponent. The fixed manufacturing overhead relates to all products and subcomponents produced by Vinny, which means that this cost is the same whether Vinny produces the subcomponents or not. So the relevant costs for making the subcomponents are the variable costs.
Direct materials $15
Direct labor $10
Variable manufacturing overhead $15
Total variable cost $40.
So, if Vinny decides to make the subcomponents instead of buying them, the total cost would be:
Total cost = Variable cost + Fixed cost = $40 × 20,000 + $10 × 20,000 = $800,000 + $200,000 = $1,000,000
On the other hand, if Vinny decides to buy the subcomponents, the cost would be:
Total cost = Purchase price = $45 × 20,000 = $900,000
The effect on operating income would be the difference between the two costs:
Effect on operating income = Cost of making - Cost of buying = $1,000,000 - $900,000 = $100,000 decrease
Therefore, the effect on operating income would be a decrease of $100,000 if Vinny buys the subcomponents instead of making them.
However, the fixed manufacturing overhead is a common cost that will not change whether Vinny makes or buys the subcomponents. Therefore, we can ignore it when comparing the costs of making and buying the subcomponents. So, if we only consider the variable costs, the cost of making the subcomponents would be $40 per unit, while the cost of buying the subcomponents would be $45 per unit. In this case, the effect on operating income would be:
Effect on operating income = Cost of making - Cost of buying
= $40 × 20,000 - $45 × 20,000
= $800,000 - $900,000
= -$100,000.
This means that Vinny would save $5 per unit if it buys the subcomponents instead of making them, but this savings would be more than offset by the fixed manufacturing overhead cost, resulting in a decrease of $200,000 in operating income. Therefore, the correct answer is $200,000 decrease.
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For each of the following, compute the future value: (Do not round interm calculations and round your answers to 2 decimal places, e.g., 32.16.) Present Value $ 2,650 9,453 99,305 237,382 Years 6 19 1
The future values for the given present values and years are:
Future value of $2,650 after 6 years: $4,497.56
Future value of $9,453 after 19 years: $41,291.20
Future value of $99,305 after 1 year: $104,270.73
Future value of $237,382 after 1 year: $249,252.34
To calculate the future value, we can use the formula FV = PV * (1 + r)^n, where FV is the future value, PV is the present value, r is the interest rate, and n is the number of years.
Using this formula, we can compute the future values for each given present value and the corresponding number of years. We assume an interest rate of 0% for simplicity.
For example, for the present value of $2,650 and 6 years, the future value is calculated as $2,650 * (1 + 0)^6 = $4,497.56.
Similarly, we calculate the future values for the other given present values and years.
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July 23, 2019 A Chicago startup that sent stylist-selected kids clothes to parents' doors has shut down. Mac & Mia announced on its website via a note from founder Marie Tillman that "the time has come for us to say goodbye." Mac & Mia connected parents with stylists who selected pieces from Mac & Mia's inventory, and sent those items to their door in a box. Like similar services such as Trunk Club or Stitch Fix, parents could keep the clothes they wanted and send back what they didn't like. Founded in 2014, Mac & Mia raised $9 million in venture funding, including a $5 million Series A in April 2018. Its investors included Chicago Ventures, KGC Capital, Emerisque Ventures and Sam Yagan's Corazon Capital. "I'm deeply grateful for those who have been on the journey with me; the extraordinary group of stylists, our home office crew, supporters and investors, but most of all...YOU," Tillman continued in the announcement. Tillman did not respond to a request for comment. Marie Tillman is the widow of Pat Tillman, the former NFL player turned U.S. soldier who died in Afghanistan in 2004. Mac & Mia faced a host of competitors in the children's delivery box space, including the aforementioned Stitch Fix, which launched its kids clothing service in 2018. Stitch Fix went public in 2017 and has a market cap around $2.7 billion. At least 20 other upstarts have launched similar delivery services for children's clothes. Rent the Runway announced in April that it planned to launch a girls' clothing service, and earlier this year Foot Locker invested in Rockets of Awesome, another kids' clothing startup. Larger retail players like Target, Walmart, Gap and Old Navy have also launched kids' apparel box services. This is not an unfamiliar story. An individual has what seems like a great idea, runs with it and enters the market, attracts some customers, raises funding, and then... What could have gone wrong here? Apply what you have been learning about the steps one should take when looking to develop an idea into a new venture. What are some of the critical early steps that a startup would be wise to take in order avoid building something which not enough people will care about? What are some of the challenges which you see evidence of in this brief description of a 'failure" -- Did it appear that the founders expended time, talent and treasure to try and build something which would never be sustainable, or did they just drop the ball? Apply what you know about some of the most common reasons for failure and/or the types of mistakes that often seem to be made. Which may have been contributing to the demise of Mac & Mia? Could the demise of this venture have been avoided in some way?
A combination of market saturation, lack of differentiation, potential mismanagement, and financial challenges could have contributed to the demise of Mac & Mia, and addressing these factors early on might have increased their chances of success.
Based on the information provided, it appears that Mac & Mia, the children's clothing startup, faced several challenges that may have contributed to its demise. One critical early step for a startup is conducting thorough market research to understand the target audience and their needs. It seems that Mac & Mia faced fierce competition in the children's clothing delivery box space, with numerous similar services already in existence, including established players like Stitch Fix and larger retail brands. This indicates that the market was already saturated, making it difficult for Mac & Mia to differentiate itself and attract a significant customer base.Additionally, Mac & Mia's closure might be attributed to the inability to achieve sustainable profitability. Despite raising $9 million in venture funding, sustaining a startup requires generating sufficient revenue to cover expenses and grow the business. If the company was unable to achieve profitability or lacked a viable business model, it would have faced financial challenges.
It is also worth noting that Mac & Mia's founder, Marie Tillman, did not respond to a request for comment, which suggests a lack of transparency or communication, potentially indicating internal issues or mismanagement.To avoid a similar fate, startups should conduct comprehensive market research, validate their business model, and assess the competitive landscape. They should also focus on differentiating their product or service and ensure effective communication with customers and stakeholders. Regular evaluation of financial sustainability is crucial, and pivoting or adapting the business strategy may be necessary if early indicators of failure emerge.
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What am I missing? It keeps saying the problem is incomplete but
I'm not sure what's missing.
Wells Technical Institute (WTI) provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expense
We can see here that the complete answer is:
Wells Technical Institute (WTI) provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations.
What is an institute?An institute is an organization that is typically dedicated to a particular field of study or research. Institutes can be either public or private, and they can be funded by government, private donors, or a combination of both.
Institutes can play an important role in society by:
Conducting research to advance knowledgeEducating students and professionalsWTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows, along with descriptions of items a through h that require adjusting entries on December 31.
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7 Mr. and Mrs. Poe earned $115,900 compensation income and $963 interest this year and recognized a $600 short-term capital gain and a $7,200 long-term capital gain on the sale of securities. They incurred $4,400 investment interest expense and $25,500 other itemized deductions. Use Individual tax rate schedules and Tax rates for capital gains and qualified dividends. 1 points Required: a. Compute the Poe's income tax on a joint return if they don't elect to treat long-term capital gain as investment income. b. Compute the Poe's income tax if they elect to treat enough long-term capital gain as investment income to allow them to deduct their investment interest. Complete this question by entering your answers in the tabs below. Answer is not complete. Required A Required B Compute the Poe's income tax if they elect to treat enough long-term capital gain as investment income to allow them to deduct their investment interest. (Round your intermediate calculations to the nearest whole dollar amount. Round your final answer to nearest whole dollar amount.) Taxable income Income tax Amount $ 94,763✔ < Required A Required B >
To compute the Poe's income tax on a joint return, we need to calculate their taxable income based on the provided information.
a. Without treating long-term capital gain as investment income:
First, we calculate their total income:
Compensation income: $115,900
Interest income: $963
Short-term capital gain: $600
Long-term capital gain: $7,200
Total income = $115,900 + $963 + $600 + $7,200 = $124,663
Next, we subtract their deductions:
Investment interest expense: $4,400
Other itemized deductions: $25,500
Total deductions = $4,400 + $25,500 = $29,900
Taxable income = Total income - Total deductions = $124,663 - $29,900 = $94,763
To determine the income tax, we need to refer to the individual tax rate schedules and tax rates for capital gains and qualified dividends. Based on the given information, we'll assume the latest available tax rates.
Using the tax rate schedule for joint filers, the income tax for taxable income of $94,763 is calculated as follows:
Income tax = ($19,900 × 10%) + (($94,763 - $19,900) × 12%)
Income tax = $1,990 + ($74,863 × 12%) = $1,990 + $8,983.56 ≈ $10,973.56
Therefore, the Poe's income tax on a joint return, without treating long-term capital gain as investment income, is approximately $10,974.
b. If they elect to treat enough long-term capital gain as investment income to allow them to deduct their investment interest:
To determine the amount of long-term capital gain needed to allow the deduction of investment interest, we subtract the investment interest expense from their total capital gains:
Adjusted long-term capital gain = Long-term capital gain - Investment interest expense
Adjusted long-term capital gain = $7,200 - $4,400 = $2,800
Now, we add the adjusted long-term capital gain to their taxable income:
Taxable income = $94,763 + $2,800 = $97,563
Using the tax rate schedule for joint filers, we calculate the income tax for taxable income of $97,563:
Income tax = ($19,900 × 10%) + (($97,563 - $19,900) × 12%)
Income tax = $1,990 + ($77,663 × 12%) = $1,990 + $9,319.56 ≈ $11,309.56
Therefore, if the Poes elect to treat enough long-term capital gain as investment income to deduct their investment interest, their income tax on a joint return would be approximately $11,310.
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Question 3. Layout (25 marks)< The activity relationship chart below is obtained from A Manufacturing Company. e Dept 1 14 2+ E 34 44 50 64 74 8+ 9+ 10 2+ 3+ t E A U E ܒAU 4€ E Department 54 6 O U O E U O E E E O I E O I U O OF I I X E Sequence: A X A E Ie U Ie I U U Ue Ie Ue e O XO E A I OF E A 7 7 t t I Xe U E t 7 t t t Final Layout (please draw on this grid chart): E I A t 7 8+ 9 I A X Ie U O E EX U E t 7 I Ue X A I t 7 7 - U t t 7 1 7 t 7 t 7 2 Ie t t t 7 7 t e 1 t E U t Ie O U E E E A X Ie 2 t t 1 t 10 A E E t t 7 t 7 84 UA E t t 7 t t 7 t e t t t t t ↑ t t t (a) Complete the above activity relationship chart. (5 marks) (b) Show both your sequence of placement and the final layout in the space provided. (20 marks) 7 t t t t t 7 t t t t t t 1 7 t t L t Summary Ie t t t e t t t t t t t t 7 t t t t t Oe Ue Xe t t t t t t t t t t t|t|t t t t t t 1 t e t t 7 t t t | 7 t t t tt t 7 t t | 7 1 7 t t t t ↑. E t ↑. T. T. T. 7 HE TCR t t t t t t t t t T. T. T. ↑. ↑. ↑. ↑. T.
The activity relationship chart and final layout were completed for the Manufacturing Company's layout design.
The activity relationship chart provided a visual representation of the sequence and dependencies of different departments within the manufacturing process. By analyzing the chart, the missing connections were identified and filled in. This ensured that all departments were connected in the correct order based on their dependencies.
In the final layout, the sequence of placement was determined based on the connections established in the activity relationship chart. Each department was positioned in a way that minimized the distance and movement required between departments, optimizing the overall workflow and efficiency of the manufacturing process. The layout was organized in a grid format, allowing for clear visualization and easy reference.
The completed layout considered factors such as department dependencies, workflow continuity, and space utilization. It aimed to minimize bottlenecks and unnecessary movement, ensuring a smooth and efficient production flow. The final layout provides a blueprint for the physical arrangement of departments within the manufacturing facility, facilitating effective coordination and streamlining of operations.
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Sheridan Company produces a product that requires 2.6 pounds of materials per unit. The allowance for waste and spoilage per unit is 0.3 pounds and 0.1 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $0.10 per pound, and receiving and handling costs are $0.07 per pound. The hourly wage rate is $12.00 per hour, but a raise which will average $0.30 will go into effect soon. Payroll taxes are $1.20 per hour, and fringe benefits average $2.40 per hour. Standard production time is 2.0 hour per unit, and the allowance for rest periods and setup is 0.4 hours and 0.3 hours, respectively. The standard direct labor hours per unit is a. 24 hours. b. 2.3 hours. c. 2.7 hours. d. 2.0 hours.
The standard direct labor hours per unit is 2.0 hours. Option d is correct.
The standard direct labor hours per unit for Sheridan Company is 2.0 hours. This is calculated by considering the production time required for each unit, which is 2.0 hours, and factoring in the allowances for rest periods and setup, which total 0.7 hours. The company takes into account the wage rate of $12.00 per hour for labor, as well as payroll taxes and fringe benefits associated with the labor cost.
The raise of $0.30 per hour, although it will go into effect soon, is not included in the calculation of the standard direct labor hours per unit. Overall, based on the given information, the standard direct labor hours per unit is determined to be 2.0 hours. Option d is correct.
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what is this answer?
Scooby Snacks issues 10,000 of $20 par value common stock for $50 per share. Record the issuance of common stock: Debit Credit [Select] [Select] [Select] [Select] [Select] [Select]
The issuance of common stock is Debit Cash - $500,000, Credit Common Stock - $200,000, Credit Additional Paid-in Capital - $300,000.
When a company sells a security or financial instrument that represents ownership of a part of the company is called stock. The stock that is issued when a company is incorporated for the first time is called the common stock. Issuing stocks allows companies to raise funds from investors to finance their businesses. Here in the given question, Scooby Snacks issues 10,000 of $20 par value common stock for $50 per share.
Let’s record the issuance of common stock.The journal entry for the issuance of common stock is as follows:
Debit Cash - $500,000
Credit Common Stock - $200,000
Credit Additional Paid-in Capital - $300,000
To calculate the debit and credit amount we need to understand the values given in the question. The company has issued 10,000 shares of common stock, and the par value of one share of stock is $20. The market value of the stock is $50 per share.
Therefore, the total value of the stocks issued by the company is:
10,000 shares × $50 per share = $500,000
The accounting equation can be used to record the transaction. The issuance of stock increases the assets of the company in the form of cash and equity, the two accounts that are affected by this transaction are Cash and Common Stock. In this transaction, the Cash account will be debited by $500,000. The credit side of the journal entry for the issuance of common stock is divided into two parts:
par value of the shares and the additional paid-in capital account.
The common stock account will be credited $200,000, and the additional paid-in capital account will be credited by $300,000.Thus the journal entry for the issuance of common stock is as follows:
DebitCash - $500,000
CreditCommon Stock - $200,000
Additional Paid-in Capital - $300,000
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five basic functions of business networks are communication, mobility, collaboration, relationships, and search. select one: true false
False. The five basic functions of business networks are communication, mobility, collaboration, transactions, and information sharing.
These functions enable businesses to connect, communicate, and collaborate with stakeholders, customers, and partners. Communication involves the exchange of information and ideas, while mobility allows for accessing network resources and services from anywhere. Collaboration fosters teamwork and joint decision-making, while transactions involve the exchange of goods, services, or money. Finally, information sharing facilitates the sharing of valuable data and knowledge within the network, enhancing efficiency and innovation. These functions collectively support the overall operations and success of a business network.
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Calculate the price of $35,000, 182-day commercial paper on its issue date if the current market rate of return is 4.30%. Express your answer to 2 decimal places, but don't include the $ symbol.
The price of the commercial paper on its issue date is approximately $34,279.96 is the answer.
The price of a $35,000, 182-day commercial paper on its issue date if the current market rate of return is 4.30% can be calculated as follows:
The price of the commercial paper on its issue date can be determined using the following formula: P = F / (1 + r x (n / 360)),
Where, P = price of the commercial paper, F = face value of the commercial paper, r = current market rate of return, n = number of days until maturity.
The face value of the commercial paper is $35,000 and the number of days until maturity is 182 days (i.e., half a year), so n = 182 days / 360 days = 0.5056.
Substituting these values into the formula: P = $35,000 / (1 + 0.043 x 0.5056)= $35,000 / 1.0213≈ $34,279.96
Therefore, the price of the commercial paper on its issue date is approximately $34,279.96.
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A company reports current assets of $6,686 and current liabilities of $2,398. What is the current ratio?
The current ratio of the company is 2.79.
The current ratio is a financial metric used to assess a company's liquidity and short-term solvency. It is calculated by dividing the company's current assets by its current liabilities. In this case, the company has current assets of $6,686 and current liabilities of $2,398. By dividing the current assets by the current liabilities, we get a current ratio of 2.79.
A current ratio of 2.79 indicates that the company has $2.79 in current assets for every $1 of current liabilities. Generally, a higher current ratio is considered favorable as it suggests that the company has sufficient current assets to cover its current liabilities. This indicates a good ability to meet short-term obligations and suggests financial stability.
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Samir is single and 55 years of age, and has gross income of $58,000 in 2019. His expenses are as follows: Alimony paid (divorced in 2013) $15,000; Charitable contributions 3,000 Contribution to a traditional IRA 5,000, Interest on home mortgage and property taxes on residence 6,000: and State income tax 3,200. What is Samir's AGI for 2019? A.$19,800, B.$30,000. C$35,000. D.S38,000 E.None of these answers.
Samir's adjusted gross income for 2019 is $25,800 (option e).
His expenses are as follows:Alimony paid (divorced in 2013) $15,000Charitable contributions 3,000Contribution to a traditional IRA 5,000Interest on home mortgage and property taxes on residence 6,000State income tax 3,200.To calculate the AGI of Samir for the year 2019, we need to calculate the sum of gross income and add/deduct all the below-given expenses/credits. Alimony paid (divorced in 2013) $15,000Charitable contributions 3,000Contribution to a traditional IRA 5,000Interest on home mortgage and property taxes on residence 6,000State income tax 3,200 Now, the AGI will be calculated as follows:
Gross Income$58,000
Less: Alimony paid (divorced in 2013)$15,000
Less: Contribution to a traditional IRA$5,000
Less: Charitable contributions$3,000
Less: Interest on home mortgage and property taxes on residence$6,000
Less: State income tax$3,200
So, the AGI of Samir for the year 2019 is:$58,000 - $15,000 - $5,000 - $3,000 - $6,000 - $3,200 = $25,800.
So, the correct option is (E) None of these answers.
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Quiz: Final E... 3 New Mess... Question 34 D. Question... W Question... Return Std Dev Beta Kelli Blakely is a portfolio manager for the Miranda Fund, a core large-cap equity fund. The market proxy an
As the options provided in the question are not complete, it is difficult to provide a specific answer. However, I'll provide you the general formulae and the concepts of these terms.Quiz: Final Exam3 New Mess...Question 34D. Question...W Question...ReturnStd DevBetaKelli Blakely is a portfolio manager for the Miranda Fund, a core large-cap equity fund. The market proxy and portfolio returns for the fund over the past year are as follows:Market Proxy:8%Portfolio:9%MonthMarket ProxyPortfolioJanuary2%3%February3%1%March0%4%April5%6%May2%2%June5%4%July0%0%August2%1%September-1%-2%October0%3%November3%5%December-2%-1%A portfolio return is the return made on a specific portfolio consisting of various individual stocks, bonds, or other assets, weighted by their relative proportions within the portfolio. It is calculated as the sum of the weighted returns of each asset in the portfolio.The formula for calculating portfolio return is:Portfolio Return = ∑(Weight of Security i × Return of Security i)where:Weight of Security i is the weight of the ith security in the portfolio.Return of Security i is the return earned by the ith security in the portfolio.The standard deviation measures the dispersion of data from its expected value. It tells us how much the actual returns deviate from the expected return of the portfolio. It is calculated as the square root of the variance.The formula for calculating the standard deviation of a portfolio is:σp = √[ ∑(wi² x σi²) + 2 ∑(wiwjσiσj)]where:σp is the standard deviation of the portfolio.wi and wj are the weights of the ith and jth securities in the portfolio.σi and σj are the standard deviations of the returns of the ith and jth securities in the portfolio.β is a measure of systematic risk. It measures the sensitivity of a security or portfolio to market movements. It tells us how much the portfolio is affected by the changes in the market.The formula for calculating beta is:β = Covariance of Security and Market / Variance of the Marketwhere:Covariance of Security and Market is the covariance between the security and the market.Variance of the Market is the variance of the market return.
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manama trading has $8,000of cash that are subject to an addition 8%
sales tax, what is the journal to record cash sales in the company
books?
Journal entry for the cash sales in Manama Trading's books: Debit Cash Sales Revenue [tex]\$8,640[/tex], Credit Cash [tex]\$8,000[/tex], Credit Sales Tax Payable [tex]\$640[/tex].
The journal entry to record cash sales in Manama Trading's books, considering an additional [tex]8\%[/tex] sales tax on [tex]\$8,000[/tex] of cash, would be as follows:Debit: Cash Sales Revenue [tex]\$8,640[/tex]Credit: Cash [tex]\$8,000[/tex]Credit: Sales Tax Payable [tex]\$640[/tex]This entry reflects the increase in cash sales revenue by the amount including the sales tax, the debit to cash representing the cash received, and the credit to sales tax payable for the amount of sales tax collected from the customers.In conclusion, the journal entry to record cash sales in Manama Trading's books: Debit Cash Sales Revenue for [tex]\$8,640[/tex], Credit Cash for [tex]\$8,000[/tex], and Credit Sales Tax Payable for [tex]\$640[/tex].
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Now after the figures are ordered and have arrived, the demand for Ric Flair figures falls to P=31 - Q. The figures cost $5 each when ordered. To stock Ric Flair figures, other figures from the shelves will have to be removed and the average profit on those figures is $3. The supplier is offering a $4 refund for any Ric Flair figures to be sent back. How many Ric Flair figures should be kept (Q)?
The supplier should keep 18.5 Ric Flair figures since we can't have a half figure and this is the nearest possible value. Hence, the supplier should keep 18 Ric Flair figures.
Revenue (R) = price x quantity
Ric Flair figures will have to be sold at a lower price of P = 31 - Q
Therefore, revenue will be:R = (31 - Q) x Q= 31Q - Q²
Cost of each Ric Flair figure is $5
The cost of Q Ric Flair figures = 5Q Ric Flair figures will have to be removed from the shelves and other figures sold instead.
The profit on each figure sold = $3Therefore, profit on Q other figures = 3Q
Total profit = 3Q + R - 5Q
The supplier is offering a $4 refund for any Ric Flair figures to be sent back
Therefore, the total profit is 3Q + (31Q - Q² - 5Q) + 4(Q)
Total profit = -Q² + 33Q + 4QThe profit is at maximum when
d(Total profit)/dQ = 0d(Total profit)/dQ = -2Q + 37= 0Q = 18.5
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Prepare a production cost report using the FIFO method
Required Information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginn
A production cost report can be defined as a document that presents a summarized view of the manufacturing process and the costs incurred in producing a given number of units. One of the popular methods used in cost accounting to manage costs and assign costs to products is the FIFO method.
First-In-First-Out is a cost flow assumption that assumes the cost of the earliest unit purchased is the first to be assigned to inventory. Therefore, the latest unit purchased is used to match the current cost of sales.Preparation of the Production Cost Report using the FIFO method is as follows:
Step 1: Calculate the equivalent unit of production. To do this, use the formula below:
EUP of fully completed units = (Number of units completed and transferred out) + (Ending WIP units × Degree of completion)
EUP of fully completed units = (90,000) + (2,500 × 100%) = 92,500
EUP of conversion costs = (EUP of fully completed units) + (Ending WIP units × Degree of completion)
EUP of conversion costs = (92,500) + (2,500 × 50%) = 94,375
Step 2: Calculate cost per equivalent unit
Total Cost per equivalent unit (TCPEU) = (Cost of beginning WIP inventory) + (Cost added during the period) ÷ EUP of fully completed units
TCPEU = (0) + ($437,500 ÷ 92,500) = $4.72 per unit
Step 3: Determine the cost of goods transferred out of the Molding department.
Cost of Goods Transferred Out = (Cost per equivalent unit) × (EUP of fully completed units)
Cost of Goods Transferred Out = ($4.72) × (90,000) = $424,800
Step 4: Determine the cost of ending WIP inventory.
Ending WIP Inventory = (Cost per equivalent unit) × (EUP of ending WIP units)
Ending WIP Inventory = ($4.72) × (2,500 × 50%) = $5,900
Step 5: Prepare the production cost report using the FIFO method. Ash Company Molding Department Production Cost Report - FIFO MethodFor the month of JulyUnits accounted for:
EUP of fully completed units: 92,500
EUP of ending WIP units: 2,500
Costs accounted for:Costs incurred during the period: $437,500
Costs accounted for:Cost of Goods Transferred Out: $424,800
Ending WIP Inventory: $5,900
Total costs accounted for: $430,700
Cost per equivalent unit: $4.72
Costs to be accounted for:Cost of beginning WIP inventory: $0
Costs incurred during the period: $437,500
Total costs to be accounted for: $437,500
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If China grows at a faster rate than the U.S, then
then the U.S exchange rate will appreciate
the U.S exchange rate will deprecation
it will not impact the U.S exchange rate
Inflation will be faster in the U.S
We do not have enough information
If China grows at a faster rate than the United States, the exchange rate of the United States will depreciate.
The United States exchange rate is influenced by various factors, including the economic growth rate, trade deficit or surplus, and interest rates. If the growth rate of a country is greater than that of another country, the exchange rate of the latter will decrease, and the former's exchange rate will increase.The value of a country's currency is usually determined by its supply and demand. When a country has a strong economy and is experiencing high growth rates, the demand for its currency increases. It means that the value of the currency rises in the foreign exchange market. As a result, the exchange rate of the other country's currency will depreciate. Therefore, if China grows at a faster rate than the U.S, then the U.S exchange rate will deprecate.
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Which of the following statements accurately describes typical indifference curves?
a. The slope of an indifference curve indicates the marginal rate of transformation.
b. Indifference curves represent the constraints that individuals face in their decision-making process.
c. An indifference curve traces combinations of production inputs which yields the same level of production cost.
d. Further away from the origin an indifference curve is located, the higher level of utility it represents. e. Indifference curves are down-sloping due to the diminishing average product.
This is a complicated question for someone with little-to-no knowledge of macroeconomics.
Assuming you are a student of this with limited knowledge, I will keep this brief.
The correct answer is d. Further away from the origin an indifference curve is located, the higher level of utility it represents.
Indifference curves are graphical representations of the different combinations of two goods that provide an individual with the same level of satisfaction or utility. The slope of an indifference curve is negative, indicating that as the quantity of one good increases, the quantity of the other good that is needed to maintain the same level of utility decreases.
Option a is incorrect because the slope of an indifference curve indicates the rate at which a consumer is willing to exchange one good for another, which is known as the marginal rate of substitution (MRS), not the marginal rate of transformation.
Option b is incorrect because indifference curves do not represent constraints, but rather the preferences of the consumer.
Option c is incorrect because indifference curves do not trace combinations of production inputs, but rather combinations of consumption goods.
Option e is incorrect because indifference curves are not related to the concept of average product. Instead, the slope of an indifference curve represents the marginal rate of substitution between the two goods.
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