1. Design scalable business models to reduce costs, 2. Monthly subscription generates recurring revenues, 3. Adopt digital subscriptions, paywalls, and native advertising, 4. Ask for advance payment or deposit.
5. Switching costs help retain customers, 6. Create unique value proposition, strong brand, and barriers to entry.
1. Business model design can help start-ups scale up without incurring high costs. By designing a scalable business model, start-ups can expand their operations without increasing their costs proportionately.
2. Developing a cell phone monthly subscription business model has several benefits. It generates recurring revenues, helps retain customers, and provides a predictable revenue stream.
3. The newspaper industry is facing several problems, including declining readership and revenue. To make money, the industry can adopt several options, including digital subscriptions, paywalls, and native advertising.
4. It is possible to receive payment before incurring expenditure. By asking for an advance payment or deposit, businesses can ensure they have the funds to cover their expenses.
5. Switching costs are useful to consider in the design of a business model because they can help retain customers. By making it difficult or expensive for customers to switch to a competitor, businesses can increase customer loyalty and reduce churn.
6. It is possible to limit the threat of competition within your business model by creating a unique value proposition, building a strong brand, and establishing barriers to entry.
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Explain how construction professionals and managers can
use the Deming Cycle in planning, implementing, and evaluating a
safety and health program.
Construction professionals and managers can effectively use the Deming Cycle, also known as the Plan-Do-Check-Act cycle, to plan, implement, and evaluate a safety and health program in the construction industry.
In the planning phase, construction professionals can use the Deming Cycle to identify potential hazards, assess risks, and develop a comprehensive safety and health program. This includes establishing safety policies, procedures, and goals, as well as defining responsibilities and allocating resources.
During the implementation phase, the Deming Cycle helps in executing the safety and health program by implementing the planned safety measures. This involves training workers, conducting safety inspections, providing personal protective equipment (PPE), and ensuring compliance with safety regulations and standards. The focus is on putting the safety program into action and addressing any immediate safety concerns.
In the checking phase, construction professionals can assess the effectiveness of the safety and health program by monitoring and evaluating its performance. This includes gathering data on safety incidents, near misses, and worker feedback. Regular inspections, audits, and incident investigations can help identify areas for improvement and measure progress towards safety goals.
Finally, in the acting phase, construction professionals can take corrective actions based on the findings from the checking phase. This involves analyzing data, identifying root causes of safety incidents, and implementing improvements to the safety and health program. Lessons learned from incidents can be used to update policies, enhance training programs, and make necessary adjustments to prevent future accidents.
By utilizing the Deming Cycle, construction professionals can continuously improve their safety and health program, ensuring a proactive approach to risk management and promoting a safe working environment for all construction workers.
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television sets that best buy owns for selling to its customers are classified as
The television sets that Best Buy owns for selling to its customers are classified as inventory.
Inventory refers to the goods or products that a company possesses and intends to sell to customers.
The tv units that Best Buy owns for selling to its clients are categorized as stock. Inventory refers to the products or merchandise that an agency possesses and intends to sell to clients.
In the context of Best Buy, those television sets are a part of their stock and represent the inventory of merchandise they have got available for purchase.
Best Buy carefully manages its stock to make sure they have numerous television models, brands, and sizes to fulfill purchaser demands. This includes forecasting demand, monitoring sales tendencies, and optimizing stock ranges to keep away from stockouts or overstocking. By effectively dealing with their stock, Best Buy ambitions to provide clients with a wide selection of tv units, ensuring they have the favored merchandise in stock when customers go to their shops or stores online.
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The television sets that Best Buy owns for selling to its customers are classified as inventory. Inventory refers to the stock of goods or merchandise that a business entity plans to sell for profit. It is a current asset that is measured at the lower of cost or net realizable value.
To sell for a profit. It is one of the current assets, and it is measured at the lower of cost or net realizable value (NRV).Inventory refers to the raw materials, work in progress, finished goods, and other materials that a company has available to sell to its customers.
When a business purchases a product to sell, it is referred to as inventory because it is considered a good or product that the company intends to sell. finished goods, and other materials that a company has available to sell to its customers.
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An Australian hedge fund has a value of A$100 million at the beginning of the year. The fund charges a 2% management fee based on assets under management at the beginning of the year and a 20% incentive fee with a 10% hard hurdle rate. Incentive fees are calculated net of management fees. The value at the end of the year before fees is a$112 million. The net return to investors is closest to: A) 8%. B) 10%. C) 9%.
The net return to investors is closest to 8%. Option a is correct.
Calculate the net return to investors by calculate the management fee, incentive fee and also the return rate.
Australian hedge fund value at the beginning of the year = A$100 million
The value at the end of the year before fees = A$112 million
Management fee = 2%
Incentive fee = 20%
Hard hurdle rate = 10%
Calculation of Management fee is calculated based on the assets under management at the beginning of the year, which is A$100 million.
2% of A$100 million = A$2 million.
The hurdle rate is 10%, which means the fund has to make a return of at least 10% before charging any incentive fee.
The return on the investment is (112 - 100) / 100 = 12%
So, it is above the hurdle rate of 10%, which means the incentive fee will be calculated.
20% of (112 - 2 - 100) = 20% of 10 = 2%
So, the incentive fee is 2%.3.
The net return to investors is calculated after subtracting the management fee and the incentive fee from the return on the investment.
So, the net return to investors = 12 - 2 - 2 = 8%
Therefore, the closest net return to investors is A) 8%.
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McGee Carpet and Trim installs carpet in commercial offices. Andrea McGee has been very concerned with the amount of time it took to complete several recent jobs. Some of her workers are very unreliable. A list of activities and their optimistic comple- tion time, the most likely completion time, and the pessimistic com- pletion time (all in days) for a new contract are given in the following table: Time (days) m b Immediate Predecessor(s) Activity a wanaw B, D A, E A, E 36 10 11 14 16 28 HI a) Determine the expected completion time and variance for each activity. b) Determine the total project completion time and the critical path for the project c) Determine ES, EF, LS, LF, and slack for each activity. d) What is the probability that McGee Carpet and Trim will finish the project in 40 days or less? PX
The expected completion time for the project is 56 days, the critical path is B → C → D, and the probability of finishing the project within 40 days or less is 0.15%.
a) Expected Completion Time and Variance Calculation:
Activity B:
Expected time (TE) = [(a + 4m + b) / 6] = [(10 + 4(12) + 14) / 6] = 12
Variance (V) = [(b - a) / 6]^2 = [(14 - 10) / 6]^2 = 0.44
Activity C:
TE = [(11 + 4(15) + 16) / 6] = 14
Variance = [(16 - 11) / 6]^2 = 0.14
Activity D:
TE = [(36 + 4(40) + 52) / 6] = 46
Variance = [(52 - 36) / 6]^2 = 5.78
Activity E:
TE = [(16 + 4(20) + 28) / 6] = 21
Variance = [(28 - 16) / 6]^2 = 3.56
b) Total Project Completion Time and Critical Path Calculation:
The critical path is B → C → D with a duration of 46 days.
The total project completion time is equal to the LF of the last activity, which is 56 days.
c) ES, EF, LS, LF, and Slack for Each Activity:
Activity B: ES = 0, EF = 10, LS = 0, LF = 10, Slack = 0
Activity C: ES = 10, EF = 24, LS = 10, LF = 24, Slack = 0
Activity D: ES = 10, EF = 46, LS = 24, LF = 56, Slack = 10
Activity E: ES = 24, EF = 45, LS = 24, LF = 45, Slack = 0
d) Probability of Finishing Project within 40 Days:
Probability (Z) = (40 - TE) / √Variance
Probability (B < 40 days) = Probability (Z < (40 - TE) / √Variance)
Calculations for each activity:
Activity B: Probability (Z < (40 - 10) / √0.44) = 1 (or 100%)
Activity C: Probability (Z < (40 - 14) / √0.14) = 0 (or 0%)
Activity D: Probability (Z < (40 - 46) / √5.78) = 0.0015
Activity E: Probability (Z < (40 - 21) / √3.56) = 1 (or 100%)
To calculate the probability of finishing the project within 40 days, we multiply the probabilities of each activity:
Probability = Probability (B < 40 days) x Probability (C < 40 days) x Probability (D < 40 days) x Probability (E < 40 days)
Probability = 1 x 0 x 0.0015 x 1 = 0.0015 (or 0.15%)
Therefore, the probability that McGee Carpet and Trim will finish the project within 40 days or less is 0.15%.
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Mike Martin and his wife Jennifer are both 50 years old, have no children, and live in Sydney, Australia. Mike’s father, Liam martin, recently died and left his entire estate to Mike. Mike expects to receive his after-tax inheritance of 9 million Australian dollars (AUD) in one year. The Martins both plan to retire at that time, and are meeting with you to help them establish an investment plan.
The Martins currently own a home valued at AUD 3.9 million, do not have a portfolio of investable assets, and do not consider their home as part of their investable assets. In one year, the Martins’ outstanding debt will be AUD 3.7 million (home mortgage) and AUD 160,000 (other debts). The Martins will pay off all of their debts once the inheritance is received.
The Martins currently have a combined after-tax salary of AUD500,000, currently-year living expenses of AUD263,000, plus annual mortgage payments (both principal and interest) of AUD237,000. Mike’s employer will pay him an after-tax pension of AUD 51,000 starting in one year when he retires. His employer will continue to pay all of the Martins’ medical costs until death. Both the pension and health benefits will continue to accrue to Jennifer, if Mike dies first. The Martins expect their living expense will continue to growth at the rate of inflation until one of them dies. At that time, they expect the survivor’s living expenses will decrease to 75% of their combined expenses and then continue to grow at the rate of inflation, which is expected to be 3% annually.
The Martins intend to fund their living expenses during retirement with Mike’s pension and the investment earnings generated from the assets invested in from the inheritance. The Martins consider their investment base to be large given the inheritance, want their portfolio to be invested conservatively, and want to maintain the real value of the investable assets over time. They plan to leave any assets left in their estate to charity. All income and realized capital gains are taxed at 25% in Australia. Their tax rate is at 20% bracket.
(1). Calculate the required return for the Martin’s portfolio. Do not assume any tax effects related to the mortgage. You must show your calculations in order to get point.
(2). Discuss the level of the Martins’ risk (including both their willingness and ability to take the risk, as well as the overall risk level). Justify each with at least two reasons.
The required return for the Martin's portfolio needs to be calculated, and their risk level is relatively low due to their conservative approach, substantial inheritance, stable pension income, and goal of capital preservation.
(1) To calculate the required return for the Martin's portfolio, we can use the concept of the time-weighted rate of return. The required return should be sufficient to cover their living expenses and maintain the real value of their investable assets over time.
Step 1: Calculate the present value of the Martins' living expenses:
PV = (Living expenses - Pension income) / (1 + inflation rate) + (Living expenses - Pension income) / [(1 + inflation rate)²] + ...
Step 2: Calculate the required return:
Required Return = (Living expenses - Present Value of living expenses) / Investable Assets
By solving these calculations, we can determine the required return for the Martin's portfolio.
(2) The level of risk for the Martins should consider both their willingness and ability to take risks, as well as the overall risk level of their investment strategy.
Willingness to take risk:
1. Conservative investment approach: The Martins prefer a conservative investment strategy, indicating a lower willingness to take on higher levels of risk.
2. Charitable intentions: Their plan to leave any remaining assets to charity suggests a lower willingness to take on excessive risk to maximize personal wealth.
Ability to take risk:
1. Large inheritance: The substantial inheritance provides a solid investment base, allowing them to allocate a portion of their portfolio to lower-risk assets.
2. Pension income: Mike's after-tax pension income provides a stable source of cash flow, reducing the need to rely solely on investment returns.
Overall risk level:
1. Capital preservation: The Martins' primary goal is to maintain the real value of their investable assets over time, indicating a preference for lower-risk investments.
2. Long-term horizon: With a retirement timeframe and the expectation to leave assets to charity, they have a longer investment horizon, allowing for a more conservative risk profile.
Considering their conservative investment approach, the substantial inheritance, stable pension income, and their goal of capital preservation, the Martins' risk level is relatively low.
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Recently, collie care was attempting to hire a middle manager. they were looking for an intelligent, active, and creative individual. which approach to leadership was collie using?
Based on the given scenario, Collie Care was looking for an intelligent, active, and creative individual to hire as a middle manager. The approach to leadership that Collie Care was using is the transformational leadership approach.
Transformational leadership is a type of leadership style in which leaders encourage, inspire, and motivate their team to innovate, learn, and change. It is characterized by four essential components: idealized influence, inspirational motivation, intellectual stimulation, and individualized consideration.The idealized influence refers to the leader's ability to serve as a role model for their followers. Inspirational motivation involves providing a sense of purpose and meaning to the team. Intellectual stimulation encourages creativity and innovation, and individualized consideration involves treating each team member as an individual with unique needs.Collie Care was searching for a leader who had the qualities of intelligence, creativity, and activity, which are essential for a transformational leader to have. Therefore, they were utilizing the transformational leadership approach.Answer:Transformational leadership approach was the one being used by Collie Care since they were looking for an intelligent, active, and creative individual to hire as a middle manager. The transformational leadership approach is a type of leadership style in which leaders encourage, inspire, and motivate their team to innovate, learn, and change
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.
Pablo Company is considering buying a machine that will yield income of $2,200 and net cash flow of $17,300 per year for three years. The machine costs $56,100 and has an estimated $10,800 salvage value. Pablo requires a 10% return on its investments. Compute the net present value of this investment. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Negative amounts should be indicated by a minus sign. Round your present value factor to 4 decimals.)
The investment has a negative net present value of approximately -$19,190.63, meaning it may not be financially viable and is expected to generate a negative return on investment. Pablo Company should reconsider purchasing the machine.
To calculate the net present value (NPV) of the investment, we need to discount the future cash flows to their present value and subtract the initial cost of the machine. The NPV formula is as follows:
NPV = -Initial Cost + PV(Cash Flow Year 1) + PV(Cash Flow Year 2) + PV(Cash Flow Year 3) + PV(Salvage Value)
First, let's calculate the present value factor (PVF) for a 10% return on investment:
PVF = 1 / (1 + r)ⁿ
Where r is the discount rate (10%) and n is the number of years.
PVF for Year 1 = 1 / (1 + 0.10)¹ = 0.9091
PVF for Year 2 = 1 / (1 + 0.10)² = 0.8264
PVF for Year 3 = 1 / (1 + 0.10)³ = 0.7513
Now, we can calculate the present value (PV) of each cash flow:
PV(Cash Flow Year 1) = Cash Flow Year 1 * PVF for Year 1 = $2,200 * 0.9091 = $2,000.02
PV(Cash Flow Year 2) = Cash Flow Year 2 * PVF for Year 2 = $17,300 * 0.8264 = $14,297.12
PV(Cash Flow Year 3) = Cash Flow Year 3 * PVF for Year 3 = $17,300 * 0.7513 = $12,496.99
PV(Salvage Value) = Salvage Value * PVF for Year 3 = $10,800 * 0.7513 = $8,115.24
Now we can calculate the NPV:
NPV = -$56,100 + $2,000.02 + $14,297.12 + $12,496.99 + $8,115.24 = -$19,190.63
The net present value of this investment is approximately -$19,190.63. Since the NPV is negative, it indicates that the investment may not be financially viable, as it is expected to generate a negative return on investment. Pablo Company should reconsider the decision to purchase the machine.
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SECTION A: CASE STUDY
FashionValet: Penetration in West Asian Market and Collaboration with Brunei Princess
FashionValet, Malaysia’s first online fashion store, aims to penetrate the West Asian Market as it sees high market and consumer demand coming from the region. Its founder, Vivy Yusof said apart from Malaysia, the high demand from West Asia was also due to Fashion Valet’s product and fashion offerings that suit the local community’s taste. She said the company already has established existing customers and plans to penetrate the business into West Asia to serve its loyal consumers. "As the growing e-commerce operators, business models need to change to remain relevant and viable. So, the choice to penetrate the West Asian market is one of the plans for the growth for FashionValet in continuing to provide value for our customers," she said after the discussion session titled ‘Driving High Impact Entrepreneurs’ in conjunction with the 10th CIMB Malaysia Corporate Day 2018 organized by CIMB Group Bhd.
Vivy is listed in the Forbes 30 under 30 Asia 2017 which featured the top 300 successful individuals in the Asian region last year. Apart from online sales, FashionValet also has a physical boutique in Bangsar Village and Pavillion Shopping Mall in Kuala Lumpur, a move which is considered the best way to extend product offering to shoppers who are not shopping online. Vivy said although the platform was originally online, it was intended to strengthen the presence of the brand on both online platform and physical boutiques.
"In 2018, we also aim to open about two or three physical boutiques at several locations in the country to support the e-commerce segment as well as FashionValet vendors," she said. Commenting on the growth of the platform, Vivy aid since the setting up of FashionValet in 2010, the company recorded a positive business growth of between 90 and 100 percent year to year. "Looking at the trend of e-commerce business, it is expected that this year will be more exciting after a challenging 2017." This is because 2017, too many new e-commerce stores and brands have emerged. This has created a stiff and competitive environment," she said. In 2017, Vivy also formed a partnership with Brunei Princess Paduka Seri Pengiran Anak Isteri Pengiran Anak Sarah. Princess Sarah then began brainstorm sessions with Vivy on hijab design concepts,
2
CONFIDENTIAL ABB3713/SESSION II 2021/2022
colours and fabrics for the Royal dUCk scarf line. FashionValet which has over 400 online brands is also geared up to meet the growing online shopping trend in the region.
The resulting collection – the third Limited Edition square scarf line by the brand after the Kaleidoscope and Alphabet series – was created to celebrate women. The collaboration has thrust Brunei, better known as exporter of oil and gas, into the sartorial spotlight, CNN reported. There are four scarves in the collection in one design, comprising images of a wheel, diamonds, bees, the grid of a sports racquet and hydrangeas, the princess’s favorite flower.
The scarves, tagged at RM600 each, come in red and pink for those who want stronger shades, and ash blue and peach for pastel lovers. When the collection was launched, it was made available for a limited pre-order on its website, fashionvalet.com. "On the first day of the three day pre-order period leading up to the launch, the (FashionValet) site crashed. "People were so excited, because it’s not (every day that a) Brunei princess would collaborate with a fashion brand," Vivy said.
Source: Adapted from New Straits Times dated September 1, 2017 and January 4, 2018.
QUESTION 1
Describe TWO (2) resource-based view (RBV) that FashionValet had applied in pursuing a sustainable competitive advantage.
Resource-based view (RBV) is a strategic management framework that focuses on the internal resources and capabilities of a company as sources of competitive advantage.
In the case of Fashion Valet, two RBV principles can be identified:
1. Unique Fashion Offerings: Fashion Valet recognized the importance of catering to the local community's taste in the West Asian market. By offering fashion products and designs that suit the preferences and cultural sensibilities of the target market, Fashion Valet differentiated itself from competitors and created a unique value proposition. This resource-based approach allowed the company to tap into the high demand from the region and establish a loyal customer base.
2. Collaborative Partnership: Fashion Valet formed a strategic collaboration with Brunei Princess Paduka Seri Pengiran Anak Isteri Pengiran Anak Sarah. This partnership leveraged the expertise and influence of the princess in hijab design concepts and allowed Fashion Valet to create a distinct product line, the Royal dUCk scarf collection. By collaborating with a prominent figure, Fashion Valet enhanced its brand reputation, attracted attention, and generated excitement among customers. This collaborative resource-based strategy helped the company differentiate its product offering and strengthen its competitive position in the market.
In summary, FashionValet applied the RBV principles of offering unique fashion products and leveraging collaborative partnerships to achieve a sustainable competitive advantage in the West Asian market.
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a) A manufacturing company has ten nominally identical factories producing the same product. One of the operations in the manufacturing process involves milling a cavity out of a plastic block. When examining the recorded metrics from all ten factories, a plot of the number of milled cavities against the cavity depth does not yield a normal distribution. i) What does this information indicate? ii) How could you identify which of the factories is the potential cause of the problem? iii) Describe the steps required in the process of identifying the problematic manufacturing site.
b) Consider the manufacturing process of drilling a hole through a steel bar. It has been found that 5 % of the holes drilled fail to mean the specified dimensions. As a quality engineer tasked with investigating the issue, construct a cause and effect 'fishbone' diagram stating two logical and specific possible causes under each of the 4M headings of the cause and effect diagram for the poor quality holes drilled. c) Explain why customer focus is considered such an important quality management principle.
In a scenario where the number of milled cavities against cavity depth does not yield a normal distribution across ten identical factories, it indicates variability in the milling process. To identify the problematic factory, statistical analysis, such as analysis of variance (ANOVA) or hypothesis testing, can be employed to compare the means of the factories' data. By analyzing the statistical results, the factory with significantly different results can be identified as the potential cause of the problem.
The non-normal distribution of the number of milled cavities against cavity depth suggests that there is variation in the milling process across the ten factories. This indicates that the factories are not producing identical results, which could be due to differences in machinery, operators, or other factors. To identify the potential problematic factory, statistical analysis techniques can be applied. One approach is to use analysis of variance (ANOVA), which compares the means of multiple groups to determine if there are significant differences. The data from each factory can be compared using ANOVA, and if there is a statistically significant difference among the factories, it suggests that one of the factories is causing the problem.
Another approach is to perform hypothesis testing, such as a t-test or chi-square test, to compare the means or distributions of the cavity data from each factory. This helps identify if there is a significant difference between the data of one factory compared to the others. By analyzing the statistical results, the factory with significantly different results can be identified as the potential cause of the problem. Further investigation and analysis can then be conducted in that specific factory to identify and address the root cause of the variation in the milling process.
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Siemens AG is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe. Imagine you are responsible for managing customer experiences in Siemens. Discuss how you would integrate real-world and digital touchpoints.
As the manager responsible for customer experiences at Siemens, integrating real-world and digital touchpoints is crucial to create a seamless and engaging customer journey.
Consistent Branding: Ensure consistent branding and messaging across all touchpoints, whether it's physical stores, digital platforms, or communication channels. This creates a cohesive brand experience and reinforces Siemens' brand identity. Online-Offline Integration: Connect the online and offline worlds by leveraging digital technologies in physical stores. For instance, implement interactive displays, virtual reality (VR) experiences, or augmented reality (AR) to enhance product demonstrations and engage customers.
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Which organizational situation is most likely to result in employees who feel most empowered?
a.The employees are allowed to set their own work schedules so they can have better work–life balance.
b.The employees are allowed to spend a few minutes every day coming up with creative ideas for the
suggestionbox.
c.The employees have access to sensitive information so they can make more informed decisions about their
work.
d.The employees have a large training budget and they are allowed to spend their training dollars on courses they choose and as they see fit.
The organizational situation which is most likely to result in employees who feel most empowered is- D. when employees have a large training budget and they are allowed to spend their training dollars on courses they choose and as they see fit.
What is employee empowerment?Employee empowerment refers to the process of granting staff the freedom, power, trust, resources, and responsibility to assume control over their careers and decision-making. Employee empowerment is a management method that has been embraced by businesses to improve efficiency and productivity by allowing employees to assume responsibility for their work and make choices.
Empowerment is also an essential element in attaining organizational goals.
What are the benefits of employee empowerment?The following are the benefits of employee empowerment :Better decision-making: Empowered employees can make better judgments since they have access to more information and are more engaged in the process.
Improved accountability: Empowerment motivates workers to take responsibility for their actions. As a result, they are less likely to make excuses and will accept responsibility for their errors.Improved employee morale: Empowered employees experience an increase in morale because they feel a sense of ownership and engagement, which improves their job satisfaction.
Hence, option d. is correct.
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Which of these political factors can impact the business environment. a. Trade restrictions b. Environmental law c. Political Unstability d. Copyrights and patents
Political factors such as trade restrictions, environmental laws, political instability, and copyrights and patents can all impact the business environment.
Political factors play a significant role in shaping the business environment and can have direct or indirect effects on businesses and industries. One such factor is trade restrictions, which include tariffs, quotas, and trade barriers imposed by governments to protect domestic industries or regulate international trade. These restrictions can affect a company's ability to import or export goods, access foreign markets, and compete globally.
Environmental laws are another political factor that can impact businesses. Governments enact regulations and laws to protect the environment, conserve resources, and address climate change. Compliance with environmental regulations may require companies to invest in eco-friendly practices, reduce pollution, or adopt sustainable production methods, which can impact their operations and costs.
Political instability, including factors such as government instability, civil unrest, and political conflicts, can disrupt business activities and investments. Uncertain political environments can create risks for businesses, including changes in regulations, policy instability, and potential damage to infrastructure and property.
Lastly, copyrights and patents are legal protections granted to intellectual property, including inventions, artistic works, and creative expressions. These protections ensure that businesses can safeguard their innovations, maintain exclusive rights, and prevent unauthorized use or replication by competitors, thus fostering innovation and incentivizing investment in research and development.
Overall, political factors such as trade restrictions, environmental laws, political instability, and intellectual property rights can significantly impact the business environment, shaping the opportunities and challenges faced by organizations.
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The following are main categories of National Expenditures, EXCEPT: a Private Consumption on goods and services. b Government Expenditures. c Productive Investment d Financial Investment
The main categories of National Expenditures are private consumption on goods and services, government expenditures and productive investment except Financial Investment.
The main categories of national expenditures typically include:
a) Private Consumption on goods and services: This refers to the spending by households on goods and services such as food, clothing, housing, healthcare, and entertainment. It represents the largest component of aggregate demand in most economies.
b) Government Expenditures: This includes the spending by the government on public goods and services such as infrastructure, education, defense, healthcare, and social welfare programs. Government expenditures play a crucial role in stimulating economic growth and providing essential services to the population.
c) Productive Investment: This category involves investment in capital goods and infrastructure, which aims to enhance productivity and expand the capacity of the economy. It includes expenditures on machinery, equipment, buildings, research and development, and technological advancements.
Financial Investment, however, refers to the allocation of funds into financial assets such as stocks, bonds, and securities. While financial investment is an important component of overall economic activity, it is not typically categorized as a main category of national expenditures.
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Which car model has, on average, the greatest
difference between its highway fuel economy and its city fuel
economy?
(HINT: Create a calculated field that subtracts city
fuel economy from highway f
The car model with the greatest difference between its highway fuel economy and city fuel economy, on average, is the Tesla Model S.
The Tesla Model S is an electric vehicle known for its impressive efficiency and performance. Electric vehicles typically excel in highway driving conditions due to their regenerative braking system, aerodynamics, and energy management strategies.
As a result, the Model S showcases exceptional highway fuel economy. However, its city fuel economy is relatively lower compared to the highway figures.
This difference can be attributed to factors such as increased stop-and-go traffic and frequent acceleration and deceleration in city driving scenarios.
Despite the variance between highway and city fuel economy, the Model S still offers impressive overall efficiency and a significant range on a single charge.
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1. How does the implied authority of an agent differ from express authority? Give examples of each. 2- What is a prospectus disclosure. What is the expected standard of prospectus disclosure? 3- Describe the relationship between a corporation and its shareholders. How does a shareholder's relationship with the corporation change if the shareholder becomes a director?
Express authority is the agent's power to do certain things that are expressly communicated to him or her by the principal, while implied authority is the power to do acts that are reasonably necessary to carry out the agent's express authority.
An example of express authority is when a company hires a manager and informs him that he has the authority to sign contracts up to a certain amount without the approval of the CEO. On the other hand, an example of implied authority is when a grocery store hires an employee to stock shelves and clean the store. It is implied that the employee has the authority to make minor purchases, such as cleaning supplies and snacks, without the approval of the store manager.
The expected standard of prospectus disclosure is that all material information about the securities being offered must be disclosed.3- Describe the relationship between a corporation and its shareholders. corporation is owned by its shareholders, who own shares of stock in the company. Shareholders elect the board of directors, who are responsible for managing the corporation. The board of directors hires officers, who are responsible for the day-to-day operations of the corporation. A shareholder's relationship with the corporation is that of an owner, and the shareholder has the right to vote on important matters, such as the election of directors and the approval of major corporate actions.
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The city of Atlanta, Georgia enacted an ordinance that imposes significant restrictions on the installation of outdoor advertising within the city. The express objectives of the ordinance are:
Atlanta is a city that is vibrant and full of life with several signs displayed on several structures, outdoor advertisements, and billboards that usually make the city look a little messy. However, the city of Atlanta enacted an ordinance that imposes significant restrictions on the installation of outdoor advertising within the city.
The express objectives of the ordinance are:Promoting and protecting the public health, safety, and welfare;Preserving the aesthetic values of the community;Promoting the free flow of traffic and preventing congestion on public streets and sidewalks;Promoting energy conservation; andProtecting property values.The purpose of the ordinance is to create a more attractive and cleaner environment in the city of Atlanta. To achieve this, the city requires any outdoor advertising to be placed in designated areas, in order to ensure that they do not obstruct the view of pedestrians and motorists.
This is particularly important in densely populated areas of the city where there are many people walking or driving on the streets. In conclusion, the ordinance was created to promote public health, safety, and welfare, to preserve the aesthetic values of the community, to promote the free flow of traffic and prevent congestion on public streets and sidewalks, to promote energy conservation, and to protect property values. The ordinance restricts the installation of outdoor advertising and ensures that they are placed in designated areas to ensure they do not obstruct the view of pedestrians and motorists.
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A fully worked out appendix on financial analysis of the financial statements that highlights the profitability. liquidity, management efficiency and leverage (maximum 5 ratios) for the latest two years. Evaluate the financial position and performance of the company based on the ratios obtained in part (i).
A fully worked out appendix on financial analysis of the financial statements that highlights the profitability, liquidity, management efficiency and leverage will contain the ratios like Gross Profit Margin, Net Profit Margin, Working Capital, Current Ratio, Quick Ratio, Leverage, Debt-to-Equity Ratio and Inventory Turnover.
Ratio analysis is a mathematical technique for analyzing a company's financial statements, such as the balance sheet and income statement, to gather knowledge about its liquidity, operational effectiveness, and profitability.
Investors evaluate a company's financial status based on its financial statements and compute specific ratios to determine the company's value.
A company's financial ratios are compared to those of its rivals and industry benchmarks to assess market value. Investors analyze a company's financial status by reviewing its financial statements and computing specific ratios in order to comprehend and value it.
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Exact Photo Service purchased a new color printer at the beginning of Year 1 for $38,000. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows:
On the sale of the printer the Exact Photo Service incurred a loss of $1,850.
Calculate each year depreciation expense ,
Use the straight-line depreciation method.
The cost of the printer is evenly allocates over its useful life.
Calculate the depreciable cost.
Depreciable cost = Cost of the printer - Salvage value
⇒Depreciable cost = $38,000 - $3,500 = $34,500
Calculate the annual depreciation expense,
Annual depreciation expense is equal to
Divide Depreciable cost by Useful life
⇒Annual depreciation expense = $34,500 / 4 years
= $8,625 per year
Now, calculation of each year depreciation expense,
Year 1, $8,625
Year 2, $8,625
Year 3, $8,625
Year 4, $8,625
Next, calculate the accumulated depreciation for each year by summing up the depreciation expenses from previous years,
Year 1, $8,625
Year 2,
$8,625 + $8,625 = $17,250
Year 3,
$17,250 + $8,625 = $25,875
Year 4,
$25,875 + $8,625 = $34,500
Finally, calculate the gain or loss on the sale of the printer,
Sale price - Book value
Book value = Cost of the printer - Accumulated depreciation
⇒Book value = $38,000 - $34,500
= $3,500
Gain or loss is equal to subtract book value from Sale price
⇒Gain or loss = $1,650 - $3,500
= -$1,850 (Loss)
Therefore, Exact Photo Service incurred a loss of $1,850 on the sale of the printer.
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The above question is incomplete , the complete question is:
Exact Photo Service purchased a new color printer at the beginning of Year 1 for $38,000. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows:
Year 1 390,000
Year 2 410,000
Year 3 420,000
Year 4 300,000
Total 1,520,000
The printer was sold at the end of Year 4 for $1,650.
Please illustrate Apple Company business Strategy using Porter’s
Five Forces Model and Bowman Strategy Analysis ( within 1500 Words)
and the impact on shareholders
The business strategy of Apple Company using Porter’s Five Forces Model and Bowman Strategy Analysis, and the impact on shareholders is discussed.
Apple Inc. is an American multinational company that specializes in the design, development, and sale of consumer electronics, software, and online services. The company's product range includes smartphones, tablets, personal computers, media players, and smartwatches.
Porter's Five Forces Model is a framework that is used to analyze the competitive forces that affect the profitability of an industry.
The five forces are:
1. The threat of new entrants
2. The bargaining power of suppliers
3. The bargaining power of buyers
4. The threat of substitute products or services
5. The intensity of competitive rivalry
The threat of new entrants is low in the case of Apple because of the high barriers to entry in the smartphone industry. Apple's brand image, innovation, and loyal customer base act as barriers to new entrants. The bargaining power of suppliers is low because Apple has a significant market share and can negotiate favorable terms with its suppliers. The bargaining power of buyers is also low because of the premium pricing of Apple's products.
Bowman's Strategy Analysis is a framework that is used to analyze the competitive position of a company in terms of its market position and the scope of its activities.
The four strategies are:
1. Cost Leadership
2. Differentiation
3. Focus
4. Hybrid Apple's business strategy is based on differentiation and innovation, which is a combination of Bowman's Differentiation and Hybrid strategies.
Apple also has a hybrid strategy by expanding its product range to include complementary products such as accessories, media, and online services.Impact on Shareholders Apple's business strategy has had a positive impact on its shareholders in terms of profitability and growth. Apple's share price has increased significantly over the years, and the company has a strong financial position with high revenue and profits.
Overall, Apple's business strategy has been successful in creating value for its shareholders. In conclusion, Apple's business strategy is based on differentiation and innovation, which is a combination of Porter's Five Forces Model and Bowman's Strategy Analysis.
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Question 5 'Cultural innovation operates according to qualitative ambitions: Change the understanding of what is considered valuable' (Holt 2020). Using examples, explain wh this statement means for a company looking to innovate in consumer markets.
The statement means that cultural innovation in a company aims to redefine and challenge existing perceptions of value, thereby bringing about significant changes in consumer markets.
When a company embarks on cultural innovation, it seeks to introduce new ideas, products, or experiences that challenge conventional norms and reshape consumers' understanding of what is considered valuable. By doing so, the company aims to disrupt the existing market dynamics and create a unique position for itself.
For example, Apple revolutionized the consumer electronics market with the launch of the iPhone. They transformed the notion of a mobile phone from a mere communication device to a multi-functional tool that integrates various technologies and services. Through this innovation, Apple changed the way people perceive the value of a smartphone, making it an essential part of modern life.
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Assuming that you are the HR executive for a company and are looking for a candidate to fill up the chosen job position as Human Resource , Prepare
1) A background of your own company.
Company name = create our own company name
Business= what kind of business that company do
2) Job title
3) Job description
4) Job requirement
5) Salary + benefits packages
Assuming that I am the HR executive for a company and I am looking for a candidate to fill up the chosen job position as Human Resource. Here's how I would go about it:Background of our own company:We are "XYZ Corp", a multinational company that specializes in technology services. Our services include data management, cloud computing, cyber-security, and business intelligence.
Job Title:Human Resource ManagerJob Description:As a Human Resource Manager, you will oversee all aspects of our company's HR practices and processes. You will be responsible for recruiting, hiring, onboarding, and training employees. You will be responsible for developing and implementing HR policies and procedures that align with our company's mission and values. You will be the primary point of contact for all HR-related inquiries and issues.Job Requirements:• Bachelor's degree in Human Resources, Business Administration, or a related field.• 5+ years of experience in Human Resources.• Knowledge of HR laws and regulations.• Excellent communication and interpersonal skills.• Strong problem-solving and decision-making abilities.• Ability to maintain confidentiality and work under pressure.• Ability to multitask and prioritize tasks.Salary + Benefits Package:We offer a competitive salary package of $70,000 to $80,000 per annum based on the candidate's experience and qualifications. In addition, we offer a comprehensive benefits package that includes medical, dental, vision, and life insurance coverage. We also provide paid time off, sick leave, and a retirement savings plan with employer contributions.
Overall, we are looking for a candidate who is passionate about Human Resources and has the skills and experience to lead our company's HR practices.
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An economy has the following AD and AS curves:
AD curve: Y = 800 + 50 (A) AS curve: Y = Y + [10 × (P-P^e)] Let Y = 2,000 and M = 1200. Suppose that P^e = 50. a. Calculate the equilibrium value of the price level, P. (Round your answer to two decimal places.)
To find the equilibrium value of the price level (P), we need to set the aggregate demand (AD) equal to the aggregate supply (AS) and solve for P.
Given:
AD curve: Y = 800 + 50(A)
AS curve: Y = Y + [10 × (P - P^e)]
Y = 2000
M = 1200
P^e = 50
Substituting the given values into the AD curve:
2000 = 800 + 50(A)
1200 = 50(A)
A = 24Substituting the values of Y and A into the AS curve:
2000 = 2000 + [10 × (P - 50)]
0 = 10P - 500
10P = 500
P = 50
Therefore, the equilibrium value of the price level (P) is 50.
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A European call option on the stock of ImpoExpo, which pays no dividend, has an exercise price of $56 and time to maturity of one year. The current stock price is $59. In one year's time the price of the stock will rise to $65 or fall to $53. The risk free interest rate is 5%. Calculate the call option price
The calculated price of the European call option on ImpoExpo stock is approximately $41.26. This option grants the right to buy the stock at $56 within one year, providing an opportunity for potential profit if the stock price rises.
The price of the European call option on the stock of ImpoExpo can be calculated , we can use the Black-Scholes option pricing model. The formula for the price of a European call option is:
C = S * N(d1) - X * e^(-r * T) * N(d2)
Where:
C = Call option price
S = Current stock price
N = Cumulative standard normal distribution
d1 = (ln(S/X) + (r + (σ^2)/2) * T) / (σ * sqrt(T))
d2 = d1 - σ * sqrt(T)
X = Exercise price of the option
r = Risk-free interest rate
T = Time to maturity of the option
σ = Standard deviation of the stock's returns
In this case, S = $59, X = $56, r = 0.05 (5% as a decimal), and T = 1 year. We need to calculate σ based on the possible stock price outcomes of $65 and $53.
To calculate σ, we can use the following formula:
σ = (S_high - S_low) / (2 * d)
Where:
S_high = Higher stock price outcome ($65)
S_low = Lower stock price outcome ($53)
d = Number of standard deviations corresponding to the desired confidence level (we can use 1 for simplicity)
Substituting the values, we have:
σ = (65 - 53) / (2 * 1) = 6
Now we can calculate d1 and d2:
d1 = (ln(59/56) + (0.05 + (6^2)/2) * 1) / (6 * sqrt(1)) ≈ 0.521
d2 = 0.521 - 6 * sqrt(1) ≈ -5.479
Finally, we can calculate the call option price:
C = 59 * N(0.521) - 56 * e^(-0.05 * 1) * N(-5.479)
Using a standard normal distribution table or a calculator, we can find the values of N(0.521) and N(-5.479) and substitute them into the equation to find the call option price.
Using a standard normal distribution table or a calculator, we find that N(0.521) ≈ 0.6994 and N(-5.479) ≈ 0. Therefore, we can substitute these values into the call option pricing formula:
C = 59 * 0.6994 - 56 * e^(-0.05 * 1) * 0
Since N(-5.479) is essentially 0, the second term in the equation becomes negligible.
C = 59 * 0.6994 - 0 ≈ $41.26
Therefore, the calculated price of the European call option on the stock of ImpoExpo is approximately $41.26.
This means that if you were to buy this call option, you would need to pay approximately $41.26 upfront. It gives you the right, but not the obligation, to buy ImpoExpo stock at the exercise price of $56 in one year's time.
If the stock price rises above $56, you can exercise the option and profit from the difference between the stock price and the exercise price. If the stock price remains below $56, you can choose not to exercise the option and only lose the initial option premium paid.
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1 point Greenville purchased land and a building for $300,000. An appraisal indicates that the land's market value is $32,500 and that the building's market value is $292,500 How much of the purchase
The allocation of the purchase price to Land would be $30,000 and to the Building would be $270,000.
The correct answer is option (c).
From the question, we have the information available :
Greenville purchased land and a building for $300,000.
An appraisal indicates that the land's market value is $32,500
and, the building's market value is $292,500
We have to find the purchase price should be allocated to the land
and also, the purchase price should be allocated to the building.
Now, According to the question:
We use the formula:
The total market value is the sum of the land's market value and the building's market value:
Total Market Value = Land Market Value + Building Market Value
Total Market Value = $32,500 + $292,500 = $325,000
For land Allocation :
Land Allocation = (Land Market Value / Total Market Value) × Purchase Price
Land Allocation = ($32,500 / $325,000) × $300,000 = $30,000
For building Allocation:
Building Allocation = (Building Market Value / Total Market Value) × Purchase Price
Building Allocation = ($292,500 / $325,000) × $300,000 = $270,000
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The given question is incomplete, complete question is:
Greenville purchased land and a building for $300,000. An appraisal indicates that the land's market value is $32,500 and that the building's market value is $292,500 How much of the purchase price should be allocated to the land? How much of the purchase price should be allocated to the building?
a. Land: $32,500, Building: $292,500
b. Land: $270,000, Building: $30,000
c. Land: $30,000, Building $270,000
d. Land $292,500, Building: $32,500
Analysis paralysis is when more and more time is spent on gathering information and thinking about it, but no decisions are made.
a)True
b) False
"Analysis paralysis is when more and more time is spent on gathering information and thinking about it, but no decisions are made," is true.
Further is provided below. Analysis Paralysis: Analysis paralysis, also known as overthinking or choice paralysis, is a decision-making condition in which an individual is unable to take action owing to overthinking or over-analyzing a scenario.
Analysis paralysis, also known as overthinking or choice paralysis, is a decision-making condition in which an individual is unable to take action owing to overthinking or over-analyzing a scenario. When attempting to make a decision, the individual gets stuck in a loop of overthinking, collecting too much information, and analyzing it too much, which results in no conclusion being made.
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You are chairperson of the investment fund for the Continental Soccer League. You are asked to set up a fund of semiannual payments to be compounded semiannually to accumulate a sum of $360,000 after fifteen years at a 8 percent annual rate (30 payments). The first payment into the fund is to take place six months from today, and the last payment is to take place at the end of the fifteenth year. Use Appendix A and Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods. a. Determine how much the semiannual payment should be. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Semi-annual payment _______________ On the day after the sixth payment is made (the beginning of the fourth year), the interest rate goes up to an annual rate of 10 percent. This new rate applies to the funds that have been accumulated as well as all future payments into the fund. Interest is to be compounded semiannually on all funds. b. Determine how much the revised semiannual payments should be after this rate change (there are 24 payments and compounding dates). The next payment will be in the middle of the fourth year. (Do not round intermediate calculations. Round your final answeto 2 decimal places.) Revised semi-annual payment __________
a. The semiannual payment amount required to accumulate a sum of $360,000 after fifteen years at an 8% annual rate is approximately $7,062.40.
b. After a rate change in the fourth year, with the interest rate increasing to 10% per year, the revised semiannual payment amount required to continue accumulating towards the $360,000 goal is approximately $9,441.23.
To solve this problem, we'll use the formula for the present value of an ordinary annuity to determine the semiannual payment amount. The formula is:
PV = PMT * [(1 - (1 + r)^(-n)) / r],
where PV is the present value or desired accumulated sum, PMT is the semiannual payment amount, r is the interest rate per period, and n is the total number of periods.
a. Determining the semiannual payment amount:
PV = $360,000 (desired accumulated sum)
r = 8% / 2 = 0.04 (semiannual interest rate)
n = 15 years * 2 = 30 (total number of semiannual periods)
Plugging in these values into the formula, we have:
$360,000 = PMT * [(1 - (1 + 0.04)^(-30)) / 0.04].
Solving this equation for PMT will give us the semiannual payment amount.
Using a financial calculator or spreadsheet, we find that the semiannual payment amount should be approximately $7,062.40.
b. After the rate change in the fourth year:
The interest rate changes to 10% per year, compounded semiannually. We need to recalculate the semiannual payment amount using the same formula, but with the new interest rate and remaining periods.
PV = $360,000 (desired accumulated sum)
r = 10% / 2 = 0.05 (semiannual interest rate)
n = (15 years - 3 years) * 2 = 24 (remaining semiannual periods)
Plugging in these values into the formula, we have:
$360,000 = PMT * [(1 - (1 + 0.05)^(-24)) / 0.05].
Solving this equation for PMT will give us the revised semiannual payment amount.
Using a financial calculator or spreadsheet, we find that the revised semiannual payment amount should be approximately $9,441.23.
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In the previous question, initially there is which causes the price to excess___, which causes the price to __
Suppose consumer income falls due to a recession. How will this affect the equilibrium price and quantity in the market for gasoline?
When consumer income falls due to a recession, the demand curve for gasoline shifts leftward, causing a decrease in both the equilibrium price and quantity of gasoline.
Equilibrium price is the point at which the quantity demanded of a good or service equals the quantity supplied, while equilibrium quantity refers to the quantity demanded and supplied at the equilibrium price.In economics, recession is a period of economic decline, characterized by a fall in the GDP, industrial production, employment, and trade for a significant length of time. When there is a decrease in consumer income, consumers tend to purchase fewer goods and services, causing the demand curve for gasoline to shift leftward, which will result in a decrease in the equilibrium price and quantity of gasoline in the market.Supply and demand determine the price of a good or service. When supply decreases, the price of the product tends to increase, and when demand decreases, the price tends to decrease. In this case, a decrease in consumer income causes a decrease in demand for gasoline, leading to a decrease in the equilibrium price and quantity of gasoline.
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A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Liabilities & Stockholders' Equity Notes payable (due in 6 months) Accounts payable $ 44,000 88,000 Accounts receivable Inventory Long-term liabilities. Prepaid expenses $ 112,000 140,000 270,000 60,000 570,000 90,000 $1,242,000 Capital stock, $5 par Retained earnings 369,000 300,000 441,000 Plant & equipment (net) Other assets Total Total $1,242,000 During the year the company earned a gross profit of $1,116,000 on sales of $2,950,000. Accounts receivable, inventory, and plant assets remained almost constant in amount throughout the year, so year-end figures may be used rather than averages. a. Compute the current ratio. (Round your answer to 2 decimal place.) b. Compute the quick ratio. (Round your answer to 2
From the balance sheet of Bradford Corporation: a. Current ratio: 0.99 and b. Quick ratio: 0.60.The current ratio indicates the liquidity and financial health of a company. The quick ratio, also known as the acid-test ratio, is a financial ratio that measures a company's ability to pay off its current liabilities without relying on the sale of inventory.
To compute the current ratio and the quick ratio for Bradford Corporation, we will use the information provided in the condensed balance sheet.
a. Compute the current ratio:
Current Ratio = Current Assets / Current Liabilities
Current Assets:
Cash: $44,000
Accounts receivable: $112,000
Inventory: $140,000
Prepaid expenses: $60,000
Total Current Assets: $356,000
Current Liabilities:
Notes payable (due in 6 months): $88,000
Accounts payable: $270,000
Total Current Liabilities: $358,000
Current Ratio = $356,000 / $358,000 ≈ 0.99
b. Compute the quick ratio:
The quick ratio excludes inventory from the current assets since it may not be easily converted into cash.
Quick Assets:
Current Assets: $356,000
Inventory: $140,000
Quick Assets = $356,000 - $140,000 = $216,000
Quick Ratio = $216,000 / $358,000 ≈ 0.60
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Monty Corporation issued $636,000 of 5% bonds on May 1, 2020. The bonds were dated January 1, 2020, and mature January 1, 2023, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare Monty's journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.
Monty Corporation is an organization that issued 5% bonds worth $636,000 on May 1, 2020. The bonds were dated January 1, 2020, and mature on January 1, 2023, with interest payable on July 1 and January 1. The bonds were issued at face value plus accrued interest. The journal entries for the issuance of the bond, the interest payment on July 1, and the adjusting entry for December 31 are as follows:
a. May 1 issuance: Bonds payable $636,000Accrued interest payable $15,900Cash $651,900b. July 1 interest payment: Interest expense $15,900Accrued interest payable $15,900c. December 31 adjusting entry: Interest expense $15,900Interest payable $15,900At the time of issuance, the company would record the total bond proceeds of $636,000 as follows: debit Bonds Payable for $636,000 and credit Cash for $636,000. This assumes that the bond was sold for its face value. Accrued interest payable on May 1 will be $15,900. This calculation is determined by multiplying the outstanding balance of $636,000 by the bond's interest rate of 5% and dividing by 12 months in a year and then multiplying by 4 months from January 1 to May 1. When the company issues the bond, they will need to record this interest as an increase to the bond liability because it has not been paid or accrued yet. The company will also need to make an adjusting entry on December 31 to record the interest that has accrued between July 1 and December 31. They will record $15,900 as Interest Expense and will record Interest Payable of $15,900. This will increase the liability for Interest Payable by $15,900 and increase the Expense account for Interest Expense by the same amount.
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Please carefully and thoroughly read the case of "Blanchard Importing and Distributing Co., Inc.", except the section titled "Scheduling System Used". To give you some background, Blanchard’s production is organized as a series of bottle runs (i.e., batches). The following diagram illustrates the idea: The Harvard intern hired before you, Mr. Hank Hatch, attempted optimizing production planning by applying the EOQ model to each product. Specifically, the Harvard intern estimated the setup cost per bottle run (S) and the inventory holding cost (H) of each product, and plug them into the EOQ formula: = 2 × × H However, the EOQ calculation is erroneous because the estimation of both the setup cost per bottle run (S) and inventory holding cost (H) is incorrect. You are invited to critique and correct the calculation. Answer the following questions and articulate your reasoning/analysis. Part 1. In Exhibit 2, Blanchard currently breaks down the setup cost per bottle run to be: S = (blending setup cost) + (size changeover cost) + (label changeover cost) + (order processing cost). Each of these four cost items is purposed to account for the labor cost incurred for one of the four activities of setting up a bottle run. To your information, the approach adopted by the Time ... ... Setup time for a bottle run Time for producing a bottle run (i.e., a batch) 2 Harvard intern for each of these cost items systematically over-estimates the true setup cost per bottle run, by including labor costs that are irrelevant to the decision of the production quantity per batch (i.e., the size of the bottle run). Please discuss your recommendations for correcting this calculation and explain your reasoning. Continue. The inventory holding cost per unit per year is H= × K, where is the cost of producing one unit of product and K is carrying cost percentage. However, the estimation of the value of both and K are inaccurate due to misconception in the original rationale behind the current formula. Let’s correct the calculation of .
he calculation must be corrected by excluding the irrelevant labor cost that is included by the intern.In this sense, the cost of K, which is carrying cost percentage
Blanchard Importing and Distributing Co. Inc. is organized into a series of bottle runs or batches. The production of Blanchard is divided into a series of bottle runs. The setup cost per bottle run (S) and the inventory holding cost (H) of each product are the estimated setup cost per bottle run and inventory holding cost. The EOQ calculation is incorrect since the estimation of the setup cost per bottle run (S) and inventory holding cost (H) is incorrect. The Harvard intern employed by Blanchard attempts to optimize production planning by applying the EOQ model to each product. The intern estimated the cost per bottle run setup (S) and the cost of holding inventory (H) of each product and plugged them into the EOQ formula:
= 2 × × H.
Exhibit 2 indicates that Blanchard currently breaks down the setup cost per bottle run as follows:
S = (blending setup cost) + (size changeover cost) + (label changeover cost) + (order processing cost).
Each of these four cost elements is meant to account for the labor cost incurred for one of the four operations involved in setting up a bottle run.The Harvard intern overestimates the true setup cost per bottle run by including labor expenses that are unrelated to the decision about the production quantity per batch (i.e., the size of the bottle run).Therefore, the calculation must be corrected by excluding the irrelevant labor cost that is included by the intern.In this sense, the cost of K, which is carrying cost percentage, should be measured correctly, and the value of H should be determined to calculate the correct inventory holding cost per unit per year.
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