After a change request is approved, a project manager typically does the following: d. re-baselines the budget and schedule. This process involves updating the project's financial and time-related aspects to accommodate the approved change.
After a change request is approved, a project manager would typically update the communication plan and re-baseline the budget and schedule. These are important steps to ensure that everyone involved in the project is aware of the changes and that the project remains on track in terms of resources and timelines. While implementing a contingency plan and creating an impact statement may also be necessary depending on the nature of the change request, they may not always be required in every situation.
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A company manufactures a product with the following cost data. The company’s production process requires that it produce its products in 1,000 unit increments.
Units Total Cost
10,000 $58,000
11,000 $62,300
12,000 $66,600
13,000 $70,900
What is the average cost per unit when the company manufactures 12,000 units? Round your answer to two decimal places and enter your amount with no dollar sign.
The average cost per unit when the company manufactures 12,000 units is $5.58.
To calculate the average cost per unit when the company manufactures 12,000 units, we need to determine the total cost for producing 12,000 units and then divide it by the number of units produced.
From the given cost data, we can see that the cost increases by $4,300 for each additional 1,000 units produced. So to produce 12,000 units, the total cost would be:
Total cost for producing 12,000 units = $58,000 + ($4,300 x 2) + ($4,300 x 3) = $66,900
Now we can calculate the average cost per unit:
Average cost per unit = Total cost for producing 12,000 units / Number of units produced = $66,900 / 12,000 = $5.58
Therefore, the average cost per unit when the company manufactures 12,000 units is $5.58.
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________ is the attempt to change an audience's attitudes, beliefs, or actions.
A) Deception
B) Sales
C) Persuasion
D) Trickery
E) Marketing
C) Persuasion. Persuasion is the attempt to change an audience's attitudes, beliefs, or actions. It involves presenting compelling arguments and evidence to influence people's thinking and decision-making. Persuasive communication can be found in various contexts, such as advertising, sales, politics, and interpersonal relationships.
Effective persuasion takes into account the audience's current attitudes and beliefs, using various strategies to connect with them and shift their perspective. It is crucial to present logical, credible, and emotionally appealing information to maximize the chances of achieving the desired change. Unlike deception or trickery, persuasion is generally based on truthful and relevant information.
Sales and marketing, while closely related to persuasion, are broader concepts that encompass various activities aimed at promoting and selling products or services. Persuasion is an essential component of these fields, but it is not their exclusive focus. Instead, sales and marketing strategies involve other elements, such as pricing, distribution, and product development, which go beyond merely influencing attitudes and beliefs.
In summary, persuasion is the process of attempting to change an audience's attitudes, beliefs, or actions by presenting convincing arguments and evidence. It is a key element of various fields, including sales and marketing, but is not synonymous with them. Persuasion aims to influence people's thinking and decision-making in a truthful and ethical manner, distinguishing it from deceptive or manipulative tactics.
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A corporation established its projected sales at $210 million. It is using its current year balance sheet as a basis for creating a pro forma balance sheet. It estimates cash will be 7% of projected sales, accounts receivable will be 19% of projected sales, and property, plant, and equipment (PP&E) will be 55% of projected sales. Accounts payable are estimated to be 12% of projected sales. Owners’ equity is $34 million. Long-term debt is $90 million. Additionally, the firm raised $12.9 million of equity capital. What is the amount of discretionary financing needed?
The amount of discretionary financing needed is $8 million.
To calculate the discretionary financing needed, we will first determine the values of the various assets and liabilities based on the projected sales, and then calculate the total assets, total liabilities, and total equity.
1. Cash = 7% of projected sales = 0.07 * $210 million = $14.7 million
2. Accounts receivable = 19% of projected sales = 0.19 * $210 million = $39.9 million
3. PP&E = 55% of projected sales = 0.55 * $210 million = $115.5 million
4. Accounts payable = 12% of projected sales = 0.12 * $210 million = $25.2 million
Total assets = Cash + Accounts receivable + PP&E = $14.7 million + $39.9 million + $115.5 million = $170.1 million
Total liabilities = Accounts payable + Long-term debt = $25.2 million + $90 million = $115.2 million
Total equity = Owners' equity + Equity capital raised = $34 million + $12.9 million = $46.9 million
Now, we will determine the discretionary financing needed (DFN) using the following formula:
DFN = Total assets - (Total liabilities + Total equity)
DFN = $170.1 million - ($115.2 million + $46.9 million) = $170.1 million - $162.1 million = $8 million
Therefore, the amount of discretionary financing needed is $8 million.
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To the right is a graph of . How can you use this graph to describe the relationship between the rate of return and the number of years it would take the investment to double?
Answer:
The graph you provided shows a relationship between the rate of return and the number of years it would take an investment to double . The horizontal axis represents the rate of return, while the vertical axis represents the number of years it would take for the investment to double.
From the graph , we can see that as the rate of return increases, the number of years it takes for the investment to double decreases. This makes sense because a higher rate of return would mean that the investment is growing faster, thus leading to a quicker doubling time. Conversely, a lower rate of return would mean that the investment is growing more slowly, so it would take longer to double.
Therefore, investors can use this graph to estimate how long it would take for their investment to double based on the rate of return they are expecting. For example, if an investor is hoping for a 10% rate of return, they can look at the graph and estimate that it would take around 7 years for their investment to double.Explanation:
Assignment ve Formulacet Version Compound into heaven Su 5 your client's objective is to have $10.500 in three years, how much should be invest today in a product earning compounded annually? (Do not round Intermediate calculations and round your final answers to 2 decimal places) Required investment
To determine the required investment to reach your client's objective of having $10,500 in three years with interest compounded annually, we will use the compound interest formula:
Future Value (FV) = Principal (P) × (1 + Interest Rate (r))^Number of years (n)
We are given:
FV = $10,500
Number of years (n) = 3
We need to find the Principal (P) and are given the product earns interest compounded annually. However, the interest rate (r) is missing from the question. Please provide the annual interest rate, and I will help you calculate the required investment.
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The banks that failed were provided non-recourse loans to help secure the banks' survival. (True or False)
False. Non-recourse loans are typically given to borrowers with a high creditworthiness and significant collateral to secure the loan.
These loans limit the lender's ability to collect on the loan, typically to the value of the collateral provided. In the case of failing banks, the government may provide bailout funds or emergency loans, but these are usually structured as recourse loans. Recourse loans allow the lender to pursue additional assets and resources beyond the collateral in the event of default. This provides a greater level of security for the lender and can help ensure that the loan is repaid. While some of the bailout funds provided to failing banks may have been structured as non-recourse loans, this would have been unusual and is not the norm for these types of loans.
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which of the following approaches to service design is characterized by having the customer take a greater role in the production of the service?
The approach to service design that is characterized by having the customer take a greater role in the production of the service is called co-creation.
Co-creation involves collaborating with customers to design, develop, and deliver services that meet their needs and preferences. This approach recognizes that customers have unique insights and knowledge about their own experiences and can contribute valuable ideas and feedback to the service design process.
Co-creation can result in more personalized and customized services that are better aligned with customer expectations and preferences.
In this approach, customers actively participate and collaborate with service providers to create a more personalized and valuable service experience.
The options are:
a. self-service approach
b. explicit services
c. co-creation
d. implicit services
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are online social networks that may be specific to marketing research, or they may be broader brand communities, the primary objective of which is marketing.
Yes, online social networks can be specific to marketing research or broader brand communities, and their primary objective often revolves around marketing. These platforms serve as essential tools for businesses to reach and engage with their target audiences effectively.
Through social networks, companies can gather valuable consumer insights, enhance brand awareness, and promote products and services. Marketing research-focused social networks allow businesses to collect data, analyze consumer behavior, and identify market trends. These networks enable companies to understand their customers' preferences and tailor their marketing strategies accordingly. On the other hand, broader brand communities provide an inclusive space for businesses to create meaningful connections with their audience. These social networks promote brand loyalty, foster customer relationships, and facilitate user-generated content, which ultimately supports marketing objectives. In summary, online social networks, whether specific to marketing research or broader brand communities, play a crucial role in achieving marketing goals. They provide valuable insights, enhance brand exposure, and promote consumer engagement, making them an indispensable tool for businesses.
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The research department of the COLLEGE STU DENT EXPRESS Airline has estimated the income elasticity of demand for its overseas flights to be 4. Further, most economic forecasts predict a 3.5% increase in incomes for students during the upcoming year. If among the college students that flew last year, 120,000 had chosen the COLLEGE STU DENT EXPRESS and if one flight attendant is usually needed for every 300 passengers, estimate the number of additional flight attendants that need to be hired for the upcoming year.
An additional 456 flight attendants need to be hired for the upcoming year to accommodate the increased demand for overseas flights on COLLEGE STU DENT EXPRESS.
Based on the given information, we know that the income elasticity of demand for COLLEGE STU DENT EXPRESS overseas flights is 4. This means that for every 1% increase in income among college students, the demand for overseas flights on this airline will increase by 4%. Additionally, we know that there is a predicted 3.5% increase in incomes for students during the upcoming year.
To estimate the number of additional flight attendants that need to be hired for the upcoming year, we first need to estimate the increase in demand for overseas flights on COLLEGE STU DENT EXPRESS.
Let's start by calculating the percentage increase in demand that is expected due to the predicted increase in incomes:
Percentage increase in demand = Income elasticity of demand * Percentage increase in income
Percentage increase in demand = 4 * 3.5
Percentage increase in demand = 14
This means that we can expect a 14% increase in demand for overseas flights on COLLEGE STU DENT EXPRESS due to the predicted increase in incomes.
Next, we need to calculate the number of passengers that will be flying on COLLEGE STU DENT EXPRESS during the upcoming year:
Number of passengers = Number of passengers last year * (1 + Percentage increase in demand)
Number of passengers = 120,000 * (1 + 0.14)
Number of passengers = 136,800
So we can expect 136,800 passengers to fly on COLLEGE STU DENT EXPRESS during the upcoming year.
Finally, we can estimate the number of additional flight attendants needed by dividing the total number of passengers by the number of passengers per flight attendant:
Number of flight attendants needed = Number of passengers / Passengers per flight attendant
Number of flight attendants needed = 136,800 / 300
Number of flight attendants needed = 456
Therefore, we can estimate that an additional 456 flight attendants need to be hired for the upcoming year to accommodate the increased demand for overseas flights on COLLEGE STU DENT EXPRESS.
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what is the one consideration you should NOT consider when evaluating any savings and investments?
Ratios (Total of 5 marks) a. If prior charge capital = $30,000 and total capital = $210,000, Calculate the gearing and comment upon the ratio. (2 marks) b. If accounts receivable is $95,000 and sales are $340,000, what is the accounts receivable/ sales ratio? (1 mark) C. Calculate net profit as a percentage of sales if net profit was $80,000 and sales were $560,000. (1 mark) d. Calculate the inventory turnover ratio if average inventory is $60,000 and cost of sales is $320,000. (1 mark)
A lower gearing ratio indicates that the company is relying more on equity financing rather than debt financing. The gearing ratio is 14.29%. The accounts receivable/sales ratio is 27.94%. The net profit as a percentage of sales is 14.29%. The inventory turnover ratio is 5.33 times.
a. The gearing ratio is calculated by dividing prior charge capital by total capital, and then multiplying by 100 to get a percentage. Therefore, the gearing ratio is (30,000/210,000) x 100 = 14.29%. This means that 14.29% of the company's total capital is made up of prior charge capital. A lower gearing ratio indicates that the company is relying more on equity financing rather than debt financing.
b. The accounts receivable/sales ratio is calculated by dividing accounts receivable by sales and then multiplying by 100 to get a percentage. Therefore, the accounts receivable/sales ratio is (95,000/340,000) x 100 = 27.94%. This means that 27.94% of the company's sales are tied up in accounts receivable.
c. The net profit as a percentage of sales is calculated by dividing net profit by sales and then multiplying by 100 to get a percentage. Therefore, the net profit as a percentage of sales is (80,000/560,000) x 100 = 14.29%. This means that the company earned a net profit of 14.29 cents for every dollar of sales.
d. The inventory turnover ratio is calculated by dividing cost of sales by average inventory. Therefore, the inventory turnover ratio is 320,000/60,000 = 5.33 times. This means that the company sells and replaces its inventory 5.33 times in a given period, such as a year. A higher inventory turnover ratio indicates that the company is selling its inventory quickly and efficiently.
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The benefits of creating a joint venture when doing business internationally include:
There are several benefits of creating a joint venture when doing business internationally, including:
Access to local knowledge and expertise: Partnering with a local company in a joint venture can provide access to valuable local knowledge and expertise about the market, culture, regulations, and business practices.
Shared risk and costs: Joint ventures allow for the sharing of risks and costs associated with entering a new market, such as research and development costs, marketing expenses, and legal fees.
Access to new markets: Joint ventures can provide access to new markets that may be difficult or expensive to enter independently.
Synergies and complementary strengths: Joint ventures can leverage the strengths and capabilities of each partner to create synergies and achieve economies of scale.
Political advantages: Joint ventures can help to navigate local regulations and cultural barriers, and may be viewed more favorably by local governments and stakeholders as a result of the partnership with a local company.
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Which of the following are types of informal communication channels? (Check all that apply.)A newsletterA public announcementFace-to-face communicationThe office grapevine
The types of informal communication channels in your list are face-to-face communication and office grapevine.
Face-to-face communication: This refers to direct conversations between individuals, where they can observe each other's expressions, gestures, and body language. It allows for immediate feedback and can be more personal compared to formal channels.
The office grapevine: This is an informal network within an organization where information, often gossip or rumors, spreads quickly and unofficially among employees. It can be a valuable source of informal knowledge but may also lead to misinformation.
So, the informal communication channels in your list are face-to-face communication and the office grapevine.
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The types of informal communication channels are face-to-face communication and the office grapevine.
A newsletter and a public announcement are examples of formal communication channels. Informal communication channels are those that are not officially sanctioned by the organization but rather arise naturally as employees interact with each other. Face-to-face communication is an important type of informal communication channel because it allows employees to connect on a personal level and build relationships. The office grapevine refers to the informal network of communication that spreads rumors, gossip, and other information throughout the organization. While the grapevine can be a source of misinformation, it can also be a valuable tool for managers to gauge employee sentiment and understand the informal dynamics within the organization.
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Jane Gilligan asks your help in understanding the essentials of effective budgeting. Identify the essentials for Jane.The essentials of effective budgeting are: (1) a sound organizational structure(2) research and analysis(3) acceptance by all levels of management
To understand the essentials of effective budgeting, it is important to consider the following three elements:
1. Sound Organizational Structure: Effective budgeting requires a well-defined organizational structure that is clear and aligned with the goals and objectives of the organization. This structure should enable effective communication, collaboration, and decision-making across all levels of the organization.
2. Research and Analysis: The foundation of effective budgeting lies in thorough research and analysis. This involves gathering relevant data, conducting market research, analyzing trends, and evaluating potential risks and opportunities.
3. Acceptance by all levels of management: For a budget to be effective, it must be accepted and supported by all levels of management. This requires open communication, collaboration, and a shared understanding of the budget's purpose, goals, and objectives.
By focusing on these three essentials, organizations can create effective budgets that align with their goals and help them achieve long-term success.
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according to ghemawat, which of the following offers room for cross-border strategy to have content distinct from single-country strategy? group of answer choices semi-globalization regional integration privatization
According to Ghemawat, regional integration offers room for cross-border strategy to have content distinct from single-country strategy. Regional integration refers to the process of countries coming together to form a regional bloc, such as the European Union or ASEAN.
This allows for easier movement of goods, services, and people across borders within the region, creating a unique environment for businesses operating within the region. By tailoring their strategy to the unique characteristics of the regional market, businesses can differentiate themselves from competitors that have a single-country strategy.
This can include taking advantage of lower trade barriers, harmonizing product standards, and leveraging the shared culture and language of the region. Overall, regional integration provides an opportunity for businesses to gain a competitive advantage by developing a strategy that is tailored to the unique characteristics of the regional market.
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When the cost of a job is determined by budgeted direct materials and labor cost plus overhead applied using a predetermined overhead rate and a budgeted allocation base, Blank______ costing is being used
The type of costing being used when the cost of a job is determined by budgeted direct materials and labor cost plus overhead applied using a predetermined overhead rate and a budgeted allocation base is known as "Standard Costing."
Under this method, a predetermined overhead rate is established by dividing the budgeted overhead cost by the budgeted allocation base. This overhead rate is then applied to each job based on the actual amount of the allocation base used. The budgeted direct materials and labor costs are also added to this amount to determine the total cost of the job. Standard costing is a widely used technique in manufacturing and production environments as it helps to provide a benchmark against which actual costs can be compared. It provides management with a way to measure the efficiency of production processes and identify areas where improvements can be made. Standard costing also helps to simplify the process of determining the cost of a job by providing a consistent approach to calculating overhead costs, which can often be complex and difficult to measure accurately.
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Which of the following sections from the statement of cash flows includes activities that increase and decrease long-term assets?
a) The financing section.
b) The operating section.
c) The investing section.
d) The non-cash investing and financing section
The section from the statement of cash flows that includes activities that increase and decrease long-term assets is the Investing section. The Investing section of the statement of cash flows reports cash flows. The correct answer is option C
Activities that increase long-term assets are reported as cash outflows, while activities that decrease long-term assets are reported as cash inflows. For example, the purchase of new property, plant, and equipment is reported as a cash outflow, while the sale of an existing asset is reported as a cash inflow.
The Operating section of the statement of cash flows reports cash flows related to the company's primary operations, such as sales and expenses, and typically does not include long-term assets. The Financing section reports cash flows related to the company's financing activities, such as issuing or repurchasing stock, and does not include long-term assets.
The non-cash investing and financing section reports non-cash transactions, such as the exchange of common stock for long-term assets, but does not include the cash flows related to the acquisition or disposition of long-term assets. Therefore, the correct answer is option C
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The example of Les Paul's limited edition shows how Sweetwater __________ from using its customer database.1.invoices the client2.provides customer service3.generates leads4.finds discounts5.understands its market
The example of Les Paul's limited edition shows how Sweetwater generates leads from using its customer database.
Sweetwater, a musical instruments retailer, used its customer database to generate leads for a limited edition Les Paul guitar. The company had data on customers who had purchased Les Paul guitars before and used this information to target them with personalized emails.
The emails contained information about the limited edition Les Paul and a link to purchase it on Sweetwater's website.
This strategy proved to be successful as Sweetwater sold out of the limited edition Les Paul within hours of sending the emails. By leveraging its customer database, Sweetwater was able to target customers who were most likely to be interested in the limited edition guitar, resulting in high sales and satisfied customers.
The example illustrates the power of using customer data to generate leads and increase sales for businesses.
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The example of Les Paul's limited edition shows how Sweetwater __________ from using its customer database.
1. invoices the client
2. provides customer service
3. generates leads
4. finds discounts
5. understands its market
Forecasting methods that assume that the demand forecast is highly correlated with
certain factors in the environment (e.g., the state of the economy, interest rates, etc.) to make a
forecast are known as
A) qualitative forecasting methods.
B) time series forecasting methods
C) causal forecasting methods.
D) simulation forecasting methods.
Causal forecasting methods are used when there is a strong correlation between the demand forecast and specific factors in the environment, such as the state of the economy, interest rates, and other external variables. Correct answer is option C
Unlike qualitative forecasting methods, which rely on expert opinions and human judgments, causal forecasting methods use quantitative data and statistical models to make predictions. Time series forecasting methods, on the other hand, solely focus on historical data patterns without considering the impact of external factors.
Causal forecasting methods may involve regression analysis, econometric models, or other statistical techniques to identify and quantify the relationships between the dependent variable (e.g., demand) and independent variables (e.g., economic indicators). These relationships are then used to develop a forecast based on the anticipated changes in the causal factors. Correct answer is option C
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What type of online channel is most relevant to the goal of helping consumers experience a product or service?
When it comes to helping consumers experience a product or service, the most relevant online channel is undoubtedly video content. Video has become the preferred method of consuming information online, and businesses that use video to showcase their products or services can create a more immersive experience for their audience.
With video, businesses can provide consumers with a more dynamic and engaging experience that allows them to see a product or service in action. Whether it's a product demo or a virtual tour of a service, video content can help consumers get a better understanding of what a business has to offer.
Furthermore, video content can be easily shared across various online platforms, from social media to email marketing, allowing businesses to reach a wider audience and attract new customers.
In conclusion, video content is the most relevant online channel for helping consumers experience a product or service, as it provides an immersive and engaging experience that can help businesses stand out in a crowded marketplace.
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you are operating under the original pricing structure except that the supplier has lowered the part cost to $58.50, and raised the order cost to $2000 per order. however the price break is only valid if your order quantity is greater than 3750.
Based on the information provided, it appears that the supplier has lowered the cost of the part to $58.50 and increased the order cost to $2000 per order.
However, there is a price break available only if your order quantity is greater than 3750. It's important to consider the overall cost of ordering in bulk to take advantage of this price break. It may also be beneficial to evaluate other suppliers and their pricing structures to ensure that you are getting the best deal for your business.
Under the new pricing structure, the cost per unit has decreased to $58.50 from the original price of $60. However, the order cost has increased to $2000 from the original cost of $1500. To be eligible for the price break, the order quantity needs to be greater than 3750 units. This means that to take advantage of the price break, you would need to order at least 3750 units at a cost of $58.50 per unit, totaling $219,375.
If you ordered fewer than 3750 units, the cost per unit would remain at $58.50, but the total cost would be higher due to the increased order cost of $2000. For example, if you ordered 3000 units, the total cost would be $175,500 ($58.50 per unit x 3000 units) plus an additional $2000 for the order cost, resulting in a total cost of $177,500. Therefore, it would be more cost-effective to order in larger quantities to take advantage of the price break and offset the higher order cost.
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Suppose you transfer $500 from your checking account to your savings account. With this transaction, M1_and M2 __O stays the same; increases O decreases; increases O decreases: stays the sameO increases; stays the same
With this transaction, M1 stays the same but M2 decreases.
M1 refers to the narrowest definition of the money supply, which includes the most liquid forms of money such as physical currency, demand deposits (checking accounts), and traveler's checks. The $500 transfer from checking to savings does not affect the amount of physical currency or demand deposits, so M1 stays the same.
M2 is a broader definition of the money supply, which includes M1 plus other less liquid forms of money such as savings deposits, money market funds, and time deposits. The $500 transfer from checking to savings decreases the amount of savings deposits, so M2 decreases.
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The Costanza Corporation purchased some equipment August 1, 2021 for $17,040 and expects to use it for 8 years at which time it can be sold for an estimated $1,200. How much depreciation expense would be recorded in the company’s 2021 financial statements?
The depreciation expense that would be recorded in the company's 2021 financial statements is $2,055.
How to calculate the depreciation expense?To calculate the depreciation expense for 2021, we need to determine the depreciation method and the useful life of the equipment. Assuming the Costanza Corporation uses the straight-line depreciation method and the equipment has no salvage value, the annual depreciation expense would be:
Depreciation expense = (Cost of equipment - Salvage value) / Useful life
Cost of equipment = $17,040
Salvage value = $1,200
Useful life = 8 years
Depreciation expense = ($17,040 - $1,200) / 8 = $2,055
Therefore, the depreciation expense that would be recorded in the company's 2021 financial statements is $2,055.
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the weekly entries in the general journal to record payments to employees include a debit to ....... . multiple choice question. salaries and wages expense
Yes, that is correct. The weekly entries in the general journal to record payments to employees typically include a debit to "Salaries and Wages Expense." This account is used to record the total amount of money paid to employees during the week, including regular wages, overtime pay, bonuses, and any other compensation.
The credit side of the entry would typically include a credit to "Cash" or "Accounts Payable" if the payment was made by check or electronic transfer. If the payment was made in cash, the credit side of the entry would include a credit to "Cash" and a debit to "Petty Cash" or "Cash Short and Over," depending on how the cash was accounted for.
Recording payments to employees accurately and timely is critical to maintaining accurate financial records and ensuring that employees are paid correctly and on time.
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If a home office is used for both business and personal purposes, the home office expenses, such as rent or depreciation, should be allocated between the business and personal use and then deducted.
A. True
B. False
A. True. If a home office is used for both business and personal purposes, the home office expenses should be allocated between the business and personal use. The IRS allows for a deduction of home office expenses that are exclusively and regularly used for business purposes.
Therefore, to determine the deductible expenses, you need to calculate the percentage of the home office that is used for business. This percentage is then used to allocate the home office expenses, such as rent, utilities, and depreciation, between business and personal use.
For example, if you use a room in your home as a home office for 50% of the time and for personal use the other 50% of the time, then you can deduct 50% of the expenses related to that room. You cannot deduct any expenses that are purely personal in nature, such as the cost of a new sofa for your home office.
It is important to keep accurate records and documentation of your home office expenses to support your deduction. If you are audited, the IRS may require you to provide evidence of the business use of your home office and the expenses you deducted.
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Sarasota Corporation purchased a trade name, customer list, and manufacturing equipment for a lump sum of $751,000. The fair market values of each asset are $351,360, $362,340, and $384,300, respectively. There were initial operating losses of $15,700 during the first four months after the assets were put into use. Prepare the journal entry to record the treatment of these costs. (Do not round intermediate calculations. Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
The initial operating loss of $15,700 during the first four months after the assets were put into use should be expensed and recorded separately in the income statement. Therefore, no entry is required for this cost in the journal.
The journal entry to record the treatment of the costs related to the purchase of trade name, customer list, and manufacturing equipment would be as follows:
Debit: Trade Name - $351,360
Debit: Customer List - $362,340
Debit: Manufacturing Equipment - $384,300
Credit: Cash - $751,000
This journal entry reflects the purchase of intangible and tangible assets for a lump sum. The fair market value of each asset is recorded separately as a debit to the respective asset account, and the total amount paid is recorded as a credit to the cash account. This treatment ensures that the assets are recorded at their fair values and that the total purchase price is allocated appropriately.
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Create EDR for the scenario:
The company is organized into departments. Each department has a unique number, name and a number of employees. One of the employees is the manager of the department. The company keeps track of the date each department's manager was appointed.
Each department controls a number of projects. Each project has a unique number, name and is located at a single location and controlled by only one department.
The company stores each employee's ID_number, address, salary, sex, and Date_of_birth. Each employee works for one department but may work on several projects although some employees do not work on any project. The company records the date an employee starts to work on a project and the date she stops working on that projects.
Each employee may have a number of dependants but a dependant is associated with only one employee. For each dependant, the company records their name, sex, Date_of_birth, and relationship to employee.
The company is organized by departments, each with a unique number, name, managers, and projects. Employee records include ID_number, address, salary, sex, and date of birth. Projects tracked with employee start/stop dates. Dependents are tracked with name, sex, date of birth, and relationship to the employee.
Entity-Relationship Diagram (ERD) for the scenario:
+----------------+ +------------+
| Department | | Project |
+----------------+ +------------+
| department_no | | project_no |
| department_name| | name |
| manager_ID | | location |
| date_appointed | | department |
+----------------+ +------------+
| |
| controls | controls
| |
+----------------+ +------------+
| Employee | | Depend |
+----------------+ +------------+
| ID_number | | name |
| address | | sex |
| salary | | DOB |
| sex | | relation |
| DOB | | employee |
+----------------+ +------------+
| |
| works_on | associated_with
| |
+----------------+ +------------+
| EmployeeProject| | Dependant |
+----------------+ +------------+
| start_date | | name |
| end_date | | sex |
| employee_ID | | DOB |
| project_no | | relation |
+----------------+ | employee |
+------------+
Explanation of the entities and relationships:
Department: Stores information about each department in the company, including its unique department number, name, and the number of employees it has. Each department has a manager, who is an employee in the company, and the department stores the date when the manager was appointed. A department controls a number of projects.Project: Stores information about each project, including its unique project number, name, and location. Each project is controlled by only one department.Employee: Stores information about each employee in the company, including their ID number, address, salary, sex, and date of birth. Each employee works for one department but may work on several projects. The company records the date when an employee starts to work on a project and the date when they stop working on that project.Depend Stores information about each dependant associated with an employee. For each dependant, the company records their name, sex, date of birth, and relationship to the employee.EmployeeProject: Represents the relationship between employees and projects. It stores the start date, end date, employee ID, and project number for each employee working on a project.Learn more about Entity-Relationship Diagram (ERD)
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Which of the following terms best describes a company that has operations in various countries, follows policies to develop local R&D to tailor products to markets, lets plants set their own rules, and aims at being a good corporate citizen in every country?
A) GLOCAL
B) global elite
C) counter trade
D) global commons
The term "GLOCAL" best describes a company that has operations in various countries, follows policies to develop local research and development (R&D) to tailor products to specific markets, allows individual plants to set their own rules, and aims to be a good corporate citizen in every country. Option (A).
GLOCAL represents a combination of "global" and "local" strategies, where companies seek to balance the benefits of a global presence with the need to adapt to local markets and cultures.
By embracing the GLOCAL approach, companies can leverage global scale while also catering to local preferences and needs, fostering innovation, and maintaining a positive relationship with local communities and stakeholders.
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For 2019, Corporation N, a calendar-year taxpayer, had a tax liability of $100,000. N’s 2018 tax liability was $200,000. What is the amount N must have paid for each quarter for 2019 to avoid any penalty or interest for underpayment of estimated tax?
A) $22,500
B) $23,250
C) $25,000
D) $50,000
To avoid any penalty or interest for underpayment of estimated tax, a corporation must pay at least the lesser. The answer is (C) $25,000.
100% of the tax shown on the current year's tax return or
100% of the tax shown on the previous year's tax return (if the previous year was a full 12-month tax year) or
90% of the current year's tax liability.
Since Corporation N's 2018 tax liability was greater than its 2019 tax liability, it must pay at least 100% of the 2019 tax liability, which is $100,000. To determine the quarterly payments needed to meet this requirement, divide $100,000 by 4: $100,000 ÷ 4 = $25,000
Therefore, the answer is (C) $25,000.
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What is a key meeting to inspect the Integrated Increment?
In software development, a key meeting to inspect the Integrated Increment is the Sprint Review Meeting. This meeting is held at the end of every sprint in the Scrum framework and is attended by the development team, the product owner, and other stakeholders.
During the Sprint Review Meeting, the development team demonstrates the Integrated Increment to the product owner and stakeholders. This is the opportunity for everyone to inspect and review the work that was completed during the sprint. The team discusses the progress made towards the sprint goal, any changes to the product backlog, and any issues or obstacles that were encountered. The product owner provides feedback on the Increment, and the team can use this feedback to refine and improve their work.
The Sprint Review Meeting is a critical meeting in the Scrum framework because it allows for transparency and collaboration between the development team and stakeholders. It provides a platform to identify any areas that require improvement and ensure that the team is on track to achieve the sprint goal. In conclusion, the Sprint Review Meeting is a key meeting to inspect the Integrated Increment in software development. It promotes collaboration, transparency, and feedback and ensures that the team is delivering value to the stakeholders.
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