Answer:
self-managed team
Explanation:
The self-managed team is a team of people who are working in a group belonging from different specialization that is responsible and accountable with respect to the product production and service delivering
Here, in the given question it is mentioned that the core members have responsibility for the product or the resources required
Therefore the first option is correct
Gordy's Corp. has seven employees. Each earns $800 per week for a five day work week ending on Friday. This month, the last day of the month falls on a Thursday. The company should make an adjusting entry:
Answer:
The journal entry to record the wages expense for the month is:
Thursday, end of month, wages expense:
Dr Wages expense 640
Cr Wages payable 640
The adjusting entry made on Friday would be:
Friday, first day of the new month, wages expense:
Dr Wages expense 140
Dr Wages payable 640
Cr Cash 800
On December 1, 20X1, Tigg Mortgage Co. gave Pod Corp. a $200,000, 12% loan. Pod received proceeds of $194,000 after the deduction of a $6,000 nonrefundable loan origination fee. Principal and interest are due in 60 monthly installments of $4,450, beginning January 1, 20X2. The repayments yield an effective interest rate of 12% at a present value of $200,000 and 13.4% at a present value of $194,000. What amount of accrued interest receivable should Tigg include in its December 31, 20X1, balance sheet
Answer:
$2,000
Explanation:
Accrued interests = loan principal x interest rate x time = $200,000 x 12% x 1/12 (1 month) = $2,000
The adjusting journal entry to record accrued interests should be:
December 31, 20x1, accrued interest receivable
Dr Interest receivable 2,000
Cr Interest revenue 2,000
Interest receivable is an asset account with a normal debit balance.
Answer:
$2,000
Explanation:
Present value of loan = $200,000
Interest rate = 12%
Therefore, the accrued interest receivable can be calculated using the simple interest formula :
Where the present value of the loan is the principal amount,
Accrued interest = principal * rate * time
Since the period is between December 1st to 31 st December = 1 month = (1/12) years
Accrued interest = $200,000 * (1/12) * 12%
Accrued interest = $200,000 * 0.083333 * 0.12
Accrued interest = $2000
Pisa, Inc. leased equipment from Tower Company under a four-year lease requiring equal annual payments of $344,152, with the first payment due at lease inception. The lease does not transfer ownership, nor is there a bargain purchase option. The equipment has a 4 year useful life and no salvage value. Pisa, Inc.’s incremental borrowing rate is 8% Pisa, Inc. uses the straight-line method to amortize similar assets. What is the amount of amortization expense recorded by Pisa, Inc. in the first year of the asset’s life?
Complete Question:
Pisa, Inc. leased equipment from Tower Company under a four-year lease requiring equal annual payments of $344,152, with the first payment due at lease inception. The lease does not transfer ownership, nor is there a bargain purchase option. The equipment has a 4-year useful life and no salvage value. Pisa, Inc.’s incremental borrowing rate is 10% and the rate implicit in the lease (which is known by Pisa, Inc.) is 8%. Pisa, Inc. uses the straight-line method to amortize similar assets. What is the amount of amortization expense recorded by Pisa, Inc. in the first year of the asset’s life?
PV Annuity Due PV Ordinary Annuity
8%, 4 periods 3.57710 3.31213
10%, 4 periods 3.48685 3.16986
a. $0 because the asset is amortized by Tower Company.
b. $284,968
c. $307,767
d. $300,000
Answer:
$307,767
Explanation:
We have to calculate the annuity value to estimate the value of the right to use and this is given as under:
Right to Use Value = Equal Annual Payments * (PV of Annuity due at 8%)
Here
Equivalent Annual Payment is $344,152
PV of Annuity due at 8% is 3.57710
By putting values, we have:
Right to Use Value = $344,152 * 3.57710 = $1,231,066
Now we will find amount of amortization expense recorded for first year:
Per year Amortization = $1,231,066 / 4 Years = $307,767
Chenrezic Music Stores, a chain of stores selling musical instruments, is trying to improve its customer service. While examining its checkout data, it learned that people who buy guitar covers also buy guitar straps and vice versa. In this scenario, the use of data mining to find better ways to improve customer service has also led to the discovery of a(n) .
Answer: Affinity pattern
Explanation:
Data mining is when patterns are being discovered in large data. From the question, we are informed that Chenrezic Music Stores, a chain of stores selling musical instruments, is trying to improve its customer service.
We are further told that while examining its checkout data, it learned that people who buy guitar covers also buy guitar straps and vice versa. In this
This shows that data mining has helped to find better ways to improve customer service has also led to the discovery of affinity pattern.
Excel Cost of common stock: Whitewall Tire Co. just paid a $1.60 dividend on its common shares. If Whitewall is expected to increase its annual dividend by 2 percent per year into the foreseeable future and the current price of Whitewall common shares is $11.66, what is the cost of common stock for Whitewall
Answer:
The cost of equity is 16%
Explanation:
The annual rate of return that an investor expects to earn when investing in shares of a company is known as the cost of common equity.
Price of stock = Next dividend / I-g
i = rate of return
g = growth rate
Since Whitewall Tire co. just paid $1.60 dividend, the next dividend will be 1.60(1.02)
11.66 = 1.60(1.02) / (i - 0.02)
We solve for i
i = {1.60(1.02) / 11.66}+ 0.02
i = 0.16
i = 16%
Therefore, the cost of equity is 16%
What is the main reason that it is necessary for public companies to follow the rules and format set out in the Generally Accepted Accounting Principles (GAAP) when creating financial statements? A. It ensures that the market value of assets and debt are reported accurately. B. It ensures that information on the performance of public companies is reported on cashbasis accounting. C. It ensures that important budgetary information is not omitted. D. It makes it easier to compare the financial results of different firms.
Answer:
D. It makes it easier to compare the financial results of different firms.
Explanation:
Gilbert & Sons is a leveraged firm. It has 300,000 shares of stock outstanding with a market price of $32 per share. The company also has $6.6 million of debt outstanding that sells at par. The pre-tax cost of debt is 9 percent and the unlevered cost of capital is 12 percent. What is the cost of equity if the tax rate is 35 percent?
Answer:
13.34%
Explanation:
According to the MM theory :
re = ro + (ro - rd)(1-t)D/E
where re = cost of equity
ro = unlevered cost of capital
t = tax rate
d/e = debt to equity ratio
equity = 300,000 x $32 = $9,600,000
D/E = $6.6 million / $9.6 million = 0.6875
12% + (12% - 9%) x (1-0.35) x 0.6875 = 13.34%
Correctly match the account balances related to AFS securities with the correct financial statement presentation
(1) Other Comprehensive Income
(2) Net Income
(3) Accumulated Other Comprehensive Income
(a) Realized gains and losses from the sale of AFS securities
(b) Net fair value adjustments to date - net holding gains and losses to date
(c) Current period holding gains or losses
Answer:
Available-for-Sale Securities (AFS) are security instruments of another company that a company buys intending to sell before it matures or in the case of no maturity, the company intends to hold it for a while.
1. Other Comprehensive Income - Current period holding gains or losses
Available for Sale securities will see their values change as time goes on. The changes in their value have to be reflected in the books but because no money is actually being accrued or lost, this cannot be reflected in the Income statement. The various gains or losses in the current period will be recorded in Other Comprehensive Income.
2. Net Income - Realized gains and losses from the sale of AFS securities
When the AFS is actually sold, the gains or losses accrued will be sent to the Income statement as actual cash has now been accrued from its sale.
3. Accumulated Other Comprehensive Income - Net fair value adjustments to date - net holding gains and losses to date.
While the various gains or losses in the current period will be recorded in Other Comprehensive Income, the accumulated gains or losses over the entire periods the security has been held is reported in the Accumulated Other Comprehensive Income which falls under the Equity section of the Balance sheet
A common tool used by events to reduce the potential for a lawsuit is A. holding parents responsible for their child's involvement in an event. B. employing volunteers as full-time employees. C. using a waiver and release of liability form. D. not allowing minors to participate in the event.
Answer:
C
Explanation:
A waiver is a documents that makes clear the related risks to an activity and protects one from liability that might occur as a result of undertaking such activities. The person undertaking the activity will need to sign a form that will release the other party from potential liability that could occur.
Similar to a waiver is the release of liability form which is a legal documents that prevents a party from suing another in the event of an accident for undergoing events that are inherently dangerous in nature.
Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks __________, it was prepared for this shift in its marketing environment.
Answer:
tracked, as part of its ongoing environmental scanning activities, the percentage of households with single cup brewers
Explanation:
Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks tracked, it was prepared for this shift in its marketing environment.
What is a partnership?The partnership is referred to as the alliance formed between two or more two people with share capital as well as profit and loss of the business and achieve the common objective of the organization.
A shift in the marketing environment can lead to both profit and loss for an organization. Every organization needs to plan in advance to cope with the rising challenges and utilize them as opportunities for the business.
The change in the marketing environment is caused by political, social, economic, and cultural factors which affect the sales of any product.
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Information processing errors consist of:_________
a. forecasting errors.
b. overconfidence.
c. conservatism.
d. framing.
Answer:
a. forecasting errors.
b. overconfidence.
c. conservatism
Explanation:
In information processing, the errors that occur are:
forecasting errors, overconfidence and conservatism.
In information processing, forecasting errors occur when people tend to give much weight. It tends to lead to extremism in forecasting. It causes deviation from the real to the forecasted information.
Overconfidence refers to when one believes that he is better than others. This is an information processing error.
Conservatism in information processing reveals the bias in human information processing. It leads to insufficiency in revising one's belief.
Cardinal Company's bank statement showed a balance at May 31 of $180,974. The only reconciling items consisted of a large number of outstanding checks totaling $51,847. At May 31, what balance should Cardinal's Cash account show
Answer:
$129,127
Explanation:
Cardinal company bank statement showed a balance of $180,974 at May 31
The reconciling items consisted of outstanding checks of $51,847
Therefore, the amount that should be shown in Cardinal cash account on May 31 can be calculated as follows
= $180,974-$51,847
= $129,127
Hence a balance of $129,127 should be shown on the Cardinal cash account on May 31
a cashier ask for your help as a customer/member wants to make return one day beyond the return window
Answer
The answer is below
Explanation :
Most likely: Listen to the customer's reason for the return, and if the product has an expiry date, the answer is no returns, otherwise, I will accept the returns.
Least likely: I would say it is not feasible to do it without listening to the customer, most especially if the customer is rarely seen. This is to avoid unnecessary image damage to the firm, that could arise from the situation.
E
A buyer purchased a new residence for $175,000. The buyer made a down payment of $15,000 and obtained a $160,000 mortgage loan. The builder of the house paid the lender 3% of the loan balance for the first year and 2% for the second year. This represented a total savings for the buyer of $8,000. What type of mortgage arrangement is this
Answer:
Buydown, is the right answer.
Explanation:
This is a buydown mortgage arrangement because in the buydown financing technique the buyer tries to take lower interest rates in the initial year of the loan period. Moreover, some mortgage lenders provide buydown discounts or points as part of their promotion. Secondly, the builder pays the initial payment to the mortgage institution that results in the lower buyer’s payment.
John Montgomery Ward founded the first baseball players union to fight what practice(s) by baseball team owners? A. Salary caps B. Baseball's reserve system C. Baseball's practice of selling players without the players receiving a share of profits D. All of these are correct. E. Salary caps and baseball's reserve system
Answer:
D. All of these are correct
Explanation:
John ohn Montgomery Ward was a first sports player who is a professional and baseball league.
Here the practices that should be considered by basketball team owners are as follows
a. Salary caps
b. Profit sharing is not considered
c. Reserve system of basketball
Hence, the correct option is D
Thus, all the options are correct
______ costs are administrative costs related to determining an order quantity, preparing purchase invoices, inspecting goods received for quality and quantity, and moving goods for temporary storage.
Answer: Ordering
Explanation:
Ordering cost tends to look at the cost required to order a particular item, from the initiation of the process till it's being inspected on it's arrival till it's moved to the store room. The first aspect is making enquires for the item, this us followed by bidding for the item, purchasing it, inspection and delivering to it's temporary location.
A department mines the prior year’s data to determine if there are patterns related to absenteeism on a month-by-month basis. Which department (i.e. business function) benefits from this technology?
Answer:
The human resources / Payroll department
Explanation:
One of the function of human resources department is monitoring and evaluation of employee's performance. The rate of regularity of employees at work is highly relevant for this purpose and the prior years data on the absenteeism on a month - month basis could give an idea on whether they have been getting it right.
Another area is in the function of payroll. The attendance of employees at work is a major factor in arriving at the appropriate payroll. this function can also benefit from the prior years data to evaluate the accuracy of payroll activities.
Cash Payback Period, Net Present Value Analysis, and Qualitative Considerations The plant manager of Shenzhen Electronics Company is considering the purchase of new automated assembly equipment. The new equipment will cost $1,400,000. The manager believes that the new investment will result in direct labor savings of $350,000 per year for 10 years. Present Value of an Annuity of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 1.833 1.736 1.690 1.626 1.528 3 2.673 2.487 2.402 2.283 2.106 4 3.465 3.170 3.037 2.855 2.589 5 4.212 3.791 3.605 3.353 2.991 6 4.917 4.355 4.111 3.785 3.326 7 5.582 4.868 4.564 4.160 3.605 8 6.210 5.335 4.968 4.487 3.837 9 6.802 5.759 5.328 4.772 4.031 10 7.360 6.145 5.650 5.019 4.192 a. What is the payback period on this project? 4 years b. What is the net present value, assuming a 10% rate of return? Use the table provided above. Round to the nearest whole dollar. Net present value
Answer:
NPV = $750,598.49
Explanation:
Payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative cash flows
Payback period = amount invested / cash flow = $1,400,000 / $350,000 = 4 years
Net present value is the present value of after tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = $-1,400,000.
Cash flow each year from year 1 to 10 = $350,000.
I = 10%
NPV = $750,598.49
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
ABC is a Medicare Advantage (MA) plan sponsor. It would like to use its enrollees’ information to market non-health related products such as life insurance and annuities. To do so it must obtain authorization from the enrollees. Which statement best describes the authorization process?
Answer is given below
Explanation:
The Medical insurance company provided all consent knowledge to the patient or beneficiary. It should be well defined so that it can dispel all the doubts of the beneficiary. Must have a valid registration page. The beneficiary should give all the information related to the company. and the registration page should ask for all the information needed for a future claim. There should be a proper definition of coverage of illnesses and risks so that the beneficiary has no doubt.Answer:
Authorization may be obtained by directing a beneficiary to a website to provide consent as long as the website includes a mechanism for an electronic signature that is valid under applicable law
Explanation:
Ken, a real estate agent, assures Lily that a certain parcel of commercial property fronts on the most highly trafficked street in Metro City. Lily buys the property and then discovers that the street has no more traffic than any other in its vicinity. Lily is most likely a victim of Group of answer choices
Options :
a. mistake.
b. opinion.
c. an adhesion contract.
d. fraud.
Answer: Fraud
Explanation: From the scenario described above, it could be inferred that Ken, the real estate agent used trickery to lure Lily into purchasing the property. Hence, Lily could be said to have been defrauded by Ken who used what Lily needed to trick her into making the purchase because the main specification, that is high traffic, which Ken used to lure Lily was actually false. Fraud remains a grave offence as it could only be carried out by lying, issuing false statement, blackmail, impersonation and other grave offences.
Joan, the editorial head of a daily newspaper, implements a change to the newspaper's outline. He discusses this change with Sylvia, the marketing head of the company, and advises her to improvise the marketing strategy based on the updated outline. In the context of organizational authority, Joan is most likely exercising _____.
Answer: staff authority
Explanation:
From the question, we are informed that Joan, the editorial head of a daily newspaper, implements a change to the newspaper's outline and he then discusses this change with Sylvia, the marketing head of the company, and advises her to improvise the marketing strategy based on the updated outline.
The organizational authority, that Joan is most likely exercising is the staff authority. This is the power given to an employee based on the role or work they do in the organization. He is applying the authority as a staff.
Once the government passes a bill to respond to a recession, it takes some time to disperse the funds to the appropriate agencies to start the programs. Economists call this time to start the projects the _________________.
Answer: implementation lag
Explanation:
The implementation lag is Implementation lag is the delay between an macroeconomic event that has an adverse effect on the economy and the implementation of either a fiscal or a monetary policy to correct the situation by the central bank or the government.
Once the government passes a bill to respond to a recession, it takes some time to disperse the funds to the appropriate agencies to start the programs. Economists call this time to start the projects the implementation lag.
If you buy a burger and fries at your favorite fast food restaurant, Group of answer choices then neither GDP nor consumption will be affected because you would have eaten at home had you not bought the meal at the restaurant. then GDP will be higher, but consumption spending will be unchanged. then GDP will be unchanged, but consumption spending will be higher. then both GDP and consumption spending will be higher.
Answer:
d. then both GDP and consumption spending will be higher
Explanation:
In case when the consumer purchased a burger and the fries to the favorite of his fast-food restaurant than it leads to an increase in the spending of the consumer and the Gross domestic product
As if the consumer spends his money so automatically his consumer spending risen also leads to the increase in gross domestic product.
Therefore the last option is correct
XYZ assigns $6,000,000 of its accounts receivables as collateral for a $2 million 8% loan with a bank. Sun Inc. also pays a finance fee of 1% on the transaction upfront. What would be recorded as a gain (loss) on the transfer of receivables
Answer:
$0
Explanation:
Data provided in the question
Account receivable assigned = $6,000,000
For Collateral = $2 million
Percentage = 8%
Finance fee = 1%
Based on the above information, the amount of gain or loss that should be recorded at the time of transfer of receivable is zero as the account receivable is used for a collateral purpose ,not for sale purpose
Therefore, the $0 should be recorded
Considere que a empresa vale dos lirios Ltda, recebeu por meio de caixa, o valor registrado an conta de clientes referente a venda efetuada no mês de marco/2020- no valor de $3.400,00. Qual a alternativa que corresponde o método das partidas dobradas?
Responda:
Por favor, verifique a explicação
Explicação:
O método de dupla entrada simplesmente se refere a um princípio contábil em que cada transação realizada tem um registro duplo, ou seja, se uma operação de crédito é realizada, o débito correspondente é registrado, da mesma forma, quando ocorre um débito, o lançamento a crédito correspondente também é registrado ao lado.
No cenário acima, a entrada de débito do ativo adquirido pelo cliente à vista de R 3.400 enquanto a vale Lirios Ltda é creditada com o dinheiro recebido na venda de seu ativo.
Ativo Caixa R $ 3.400 - - - - Débito
vale Lirios Ltda (ativo) R $ 3.400 - - - crédito
is considering an investment with an initial cost of $236,000. In Year 4, the project will require an additional investment and finally, the project will be shut down in Year 7. The annual cash flows for Years 1 to 7, respectively, are projected as $64,000, $87,000, $91,000, −$48,000, $122,000, $154,000, and −$30,000. If all negative cash flows are moved to Time 0 using a discount rate of 13 percent, what is the project's modified IRR?
Answer:
18.54%
Explanation:
The computation of the project modified IRR is shown below:
Here we use the spreadsheet for determining the IRR
but before that we need to find out the cash inflows
Years Amount (in dollars)
Year 0: = - $278,191.12
($236,000 - $48,000 ÷ 1.13^4 -$30,000 ÷ 1.13^7)
Year 1: 64000
Year 2: 87000
Year 3: 91000
Year 4: 0
Year 5: 122000
Year 6: 154000
Year 7: 0
Now we use the excel
=IRR({-$278,191.12,$64,000,$87,000,$91,000,$0,$122,000,$154,000,0})
= 18.54%
In trying to understand the evacuation of the World Trade Center when it was first bombed in 1993, B. E. Aguirre, Dennis Wenger, and Gabriela Vigo argue that the more "the search for meaning in the milling process focuses upon defining the situation as serious, the quicker should be the mobilization of people and the initiation of collective behavior." What type of theory are they using to make this prediction?
Answer: Emergent norm theory
Explanation: The emergent norm theory could be explained as the energy, discipline and panache which surrounds a particular situation. When there is a situation at hand, the extent at which the issue or situation is managed hinges on the social interaction or atmosphere within the crowd or pool of participants. It defines the importance, seriousness and norm exhibited by members who make up the pool or crowd. The crowd behavior reverberates around individual members and as such influences their behavior by adopting or following the trend due to the nature of the circumstance at ahead which has given rise to a change in the individual attribute or character of the people.
A customer buying an unfamiliar product that carries a fair degree of risk would most likely engage in ________ decision making.
Answer:
extended problem solving
Explanation:
A situation where a buyer is buying a product he or she has never bought before hence requires considerable efforts, such is termed extended problem solving. The reason is that a buyer does not have prior experience about the product or the supplier, thereby creating complex buying decisions.
In extended problem solving, buyers evaluate and search for information about products they intend to buy due to the fact that they are not familiar with the products. Here, buyers search for all available information inorder to choose among brands of products they intend to buy; being the first time of purchasing such.
It should be engaged in the cognitive decision-making.
What is cognitive decision-making?It is the decision-making that should be based on processes such as perception, memory, and attention. In the real-life situations, it needs a series of decisions should be made with each and every decision based on the last feedback form.
So at the time when the customer purchased the non-familiar product so it should be engaged in the cognitive decision-making.
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Starling Co. is considering disposing of a machine with a book value of $12,500 and estimated remaining life of five years. The old machine can be sold for $1,500. A new high-speed machine can be purchased at a cost of $25,000. It will have a useful life of five years and no residual value. It is estimated that the annual variable manufacturing costs will be reduced from $26,000 to $23,500 if the new machine is purchased. The five-year differential effect on profit from replacing the machine is a(n)
Answer: increase of $11,000
Explanation:
Based on the information that have been provided in the question, the five-year differential effect on profit from replacing the machine will be:
= $25000 - [5 × ($26,000 - $23,500)] - $1500
= $25,000 - (5 × $2500) - $1500
= $25,000 - $12,500 - $1,500
= $25,000 - $14,000
= $11,000
Therefore, there will be an increase of $11,000.
On January 2, 20X5, Lem Corp. bought machinery under a contract that required a down payment of $10,000, plus twenty-four monthly payments of $5,000 each, for total cash payments of $130,000. The cash equivalent price of the machinery was $110,000. The machinery has an estimated useful life of ten years and estimated salvage value of $5,000. Lem uses straight-line depreciation. In its 20X5 income statement, what amount should Lem report as depreciation for this machinery
Answer:
$10,500 per year
Explanation:
The computation of depreciation under SLM is shown below:-
Depreciation under Straight line method = (cash equivalent price of the machinery - Estimated salvage value) ÷ Useful life
= ($110,000 - $5,000) ÷ 10 years
= $10,500 per year
Therefore for computing the depreciation under straight line method we simply applied the above formula.
