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Think of a business professional you admire. Using an example of a time when this person displayed integrity in a difficult situation, discuss how their business actions demonstrated their values.

Answer:

A business professional that I think of is a family friend is the majority owner of an Architectural Millwork company and a time when they showed great integrity in a difficult situation was when a former employee was suing them for unemployment. They conducted themselves with total maturity and professionalism and they were completely honest the entire time. These business actions demonstrated that honesty is a key value for them in running their company and dealing with legality issues. This is a time when a business professional showed integrity during a difficult in their companies timeline.  

Explanation:

Answer:

Amira, a sales rep for a software company, was asked by a potential customer whether the company’s technology could perform a specific function critical to his business needs. Amira wasn’t certain the software could handle his needs, so she told him she would need to get back to him. Rather than provide potential misinformation just to make the sale, Amira checked with the development team first. After determining the product could perform the requested function, she let her customer know. Not only did Amira earn the sale, but she earned trust and respect from her client, too.

Explanation:

In a workplace setting, acting with integrity often means demonstrating your core values in all efforts. Here are a few behaviors that show integrity:

Being dependable and following through on commitments

Being open and honest when communicating with others

Holding yourself accountable and owning up to your shortcomings

It’s important that employees exercise integrity regardless of their department or career level. Integrity is critical, however, in leadership positions where people have the opportunity to set examples for others. By incorporating strong values into your behavior, you can help encourage other employees to do the same.

How to display integrity in the workplace

Whether you’re working in a small business or a large corporation, your commitment to integrity will impact the workplace. Acting with integrity not only helps show employers you are capable of handling responsibilities that can advance your career, but it also helps foster a positive company culture.

Actions  to demonstrate integrity and impact your workplace

1. Show up ready to work

2. Set a positive example

3. Be respectful during the conflict

4. Practice accountability

5. Follow and enforce company policies

6. Improve your work ethic

7. Respect property

Sacajawea Mercantile Co. uses the gross method for recording sales discounts. The following data were extracted from the accounting records of Sacajawea Mercantile Co. for the year ended June 30, 20Y4: Unadjusted Balances June 30, 20Y4 Account Balances* Sales$10,000,000 Accounts Receivable850,000 Allowance for Sales Discounts400 Adjustment Data Estimated sales discounts related to sales for the current fiscal year that will taken in the next fiscal year ending June 30, 20Y5.$ 7,000 * Assume all normal balances Assume that Mark Bishop pays his June 30, 20Y4, account receivable of $1,500 on July 6, 20Y4, and takes a 2% sales discount. Illustrate the effects of the payment on account from Mark Bishop on the accounts and financial statements of Sacajawea Mercantile Co.

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Sheffield Corp. uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable will become uncollectible. Accounts receivable are $430,800 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,864. (a) Prepare the adjusting journal entry to record bad debt expense for the year. (b) If the allowance for doubtful accounts had a debit balance of $887 instead of a credit balance of $2,864, prepare the adjusting journal entry for bad debt expense.

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Howat Corporation earned $360,000 during a period when it had an average of 100,000 shares of common stock outstanding. The common stock sold at an average market price of $15 per share during the period. Also outstanding were 15,000 warrants that could be exercised to purchase one share of common stock for $10 for each warrant exercised. (a) Are the warrants dilutive

Use the following data to calculate the cost of goods sold for the period:
Beginning Raw Materials Inventory $31,700
Ending Raw Materials Inventory 71,700
Beginning Work in Process Inventory 41,700
Ending Work in Process Inventory 47,700
Beginning Finished Goods Inventory 73,700
Ending Finished Goods Inventory 69,700
Cost of Goods Manufactured for the period 247,700
a. $247,700.
b. $251,700.
c. $259,700.
d. $243,700.
e. $291,700..

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At the beginning of the year, Grillo Industries bought three used machines from Freeman Incorporated. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts.

Machine A Machine B Machine C
Cost of the asset $10,800 $40,000 $23,800
Installation costs 950 3,900 3,000
Renovation costs prior to use 750 3,500 4,000
Repairs after production began 700 900 2,500

By the end of the first year, each machine had been operating 8,000 hours.

Required:
Compute the cost of each machine.

The U.S. Rice Millers’ Association claims that if the Japanese rice market were opened to imports by lowering tariffs, the resultant lower prices would save Japanese consumers about $6 billion annually. The Japanese government continues to use the high tariffs to make sure local farmers can earn a living. The tariff on rice is an example of

Assume the following: The variable portion of the predetermined overhead rate is $1.50 per direct labor-hour. The standard labor-hours allowed per unit of finished goods is 3 hours. The actual quantity of labor hours worked during the period was 44,000 hours. The total actual variable manufacturing overhead cost for the period was $63,000. The company produced 15,000 units of finished goods during the period. What is the variable overhead rate variance

Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and unit contribution margin are as follows.
Sales Mix Unit Contribution Margin
Lawnmowers 20% $30
Weed-trimmers 50% $21
Chainsaws 30% $39
Yard Tools has fixed costs of $4,342,800. Compute the number of units of each product that Yard Tools must sell in order to break even under this product mix.

artner Balance A $60,000 B $29,000 C $45,000 D $15,000 B is personally bankrupt and refuses to make any contributions to the partnership. The partnership had the following assets: A building with a $150,000 carrying amount $29,000 cash Inventory with a $20,000 carrying amount The partnership has $50,000 of liabilities resulting from accounts payable to BigCorp. Upon dissolution, the partnership is able to obtain $50,000 for the building and $0 for its inventory. Calculate the amount that A, B, C, D, and BigCorp will receive upon dissolution of the partnership using the information above.

5) Mutti company produces two joint products: tomato paste and tomato sauce. From the common process emerge the joint cost of $200,000 which yields 2,000 units of tomato paste and 1,000 units of tomato sauce. Tomato paste can be sold for $100 per unit. Tomato sauce can be sold for $120 per unit. How much of the joint cost will be assigned to the tomato paste if joint costs are allocated on the basis of relative market values

Advanced Enterprises reports year−end information from 2019 as​ follows: Sales ​(161,000 ​units) $965,000 Cost of goods sold ​(644,000​) Gross margin 321,000 Operating expenses ​(266,000​) Operating income $55,000 Advanced is developing the 2020 budget. In 2020 the company would like to increase selling prices by 14.5​%, and as a result expects a decrease in sales volume of 11​%. All other operating expenses are expected to remain constant. Assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. Should Advanced increase the selling price in​ 2020?

A truck acquired at a cost of 225000 has an estimated residual value of 15000, has an estimated useful life of 35000 miles, and was driven 3200 miles during the year. detmerine the following. if required, round your answer for the depreciation rate to two decimal places.

1. Determine:

a. The depreciable cost _________$
b. The depreciation rate _________$ per mile
c. The units-of-activity depreciation for the year $

2. Determine the depreciation for each of the first two years by the straight-line method.

The Postal Service is negotiating a new three-year agreement with two of its unions. One represents the clerks and one the mail carriers. The USPS negotiators are in two separate teams, one negotiating with each of the two unions. The two unions are not affiliated or legally tied to each other in any way, but they do talk informally. After both negotiations have concluded, the USPS management negotiators discovered that the clerk union and the carrier union were sharing information about what they were getting from management. For example, at the time that the clerk union was seeking to have management pay 50% of health insurance, the carrier union quietly told the clerk union that management had tentatively agreed to pay 55% for the carriers. Knowing this, the clerks decided to raise the demand to 55%, and were ultimately successful. The USPS is now considering a lawsuit or filing an Unfair Labor Practice for the unions sharing this information during the conduct of active negotiations, and voiding the 55% coverage of health care insurance that had been agreed to for the clerk union, arguing that it was negotiated based on illegally obtained information. Which of the following is most correct?
A. The actions of the clerk and carrier unions are not prohibited, and management does not have any recourse to recover damages nor to win an Unfair Labor Practice.
B. The actions of the clerk and carrier unions are not prohibited, and management cannot fire an Unfair Labor Practice. USPS can successfully sue both unions for damages related to the 55% paid for health care insurance for clerks.
C. This is an example of a lock-in agreement between the two unions and is prohibited by the NLRB.
D. All of the above are correct.

Bridge City Consulting bought a building and the land on which it is located for $185,000 cash. The land is estimated to represent 60 percent of the purchase price. The company paid $15,000 for building renovations before it was ready for use.
Required:
1. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year.
2. Compute straight-line depreciation on the building at the end of one year, assuming an estimated 10-year useful life and a $9,000 estimated residual value.
3. What should be the book value of the land and building at the end of year 2?

Assume that you have been hired as a consultant by CGT, a major producer of chemicals and plastics, including plastic grocery bags, styrofoam cups, and fertilizers, to estimate the firm's weighted average cost of capital. CGT's balance sheet data are as follows.
The stock is currently selling for $15.25 per share, and its noncallable $1,000 par value, 20-year, 7.25% bonds with semiannual payments are selling for $875.00. The beta is 1.25, the yield on a 6- month Treasury bill is 3.50%, and the yield on a 20-year Treasury bond is 5.50%. The required return on the stock market is 11.50%, but the market has had an average annual return of 14.50% during the past 5 years. The firm's tax rate is 40%. Determine the best estimate of the after-tax cost of debt.
Assets 2018
Current assets $38,000,000
Net plant, property, and equipment $101,000,000
Total assets $139,000,000
Liabilities & Equity
Accounts payable $10,000,000
Accruals $9,000,000
Current liabilities $19,000,000
Long-term debt (40,000 bonds.
$1,000 par value) $40,000,000
Total liabilities $59,000,000
Common stock (10,000,000 shares) $30,000,000
Retained earnings $50,000,000
Total shareholders' equity $80,000,000
Total liabilities and shareholders' equity $139,000,000
a. 5.40%.
b. 5.67%.
c. 4.64%.
d. 5.14%.

There was an agreement that employees will get extra payment for overtime but the management fails to implement the agreement which principle is violated?​

Erin has been analyzing the manufacturing process for a local company and is starting to see some changes because of her suggestions. She proposed automating a pair of machines that are often the point at which some sort of defect is introduced to the process. Not only did this decrease the number of defective products, but also productivity increased by 17%.

Pastore Inc. granted options for 1 million shares of its $1 par common stock at the beginning of the current year. The exercise price is $39 per share, which was also the market value of the stock on the grant date. The fair value of the options was estimated at $7.00 per option. What would be the total compensation indicated by these options

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Which of the following reflect the balances of prepayment accounts prior to adjustment?
Balance sheet accounts are understated and income statement accounts are understated
Balance sheet accounts are overstated and income statement accounts are overstated
Balance sheet accounts are understated and income accounts are overstated
Balance sheet accounts are overstated and income statement accounts are understated

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We've talked a lot about "fixed" and "variable" expenses. We've talked about the way these expenses impact your budget and your savings. We also talked about one big thing you can do about variable expenses that you cannot usually do about your fixed expenses. What was the big thing you can do?

26) Cosy and Co. produces and sells vases for $100. The company has the capacity to produce 50,000 vases each period. At capacity, the costs assigned to each unit are as follows: Unit level costs $ 45 Product level costs $ 15 Facility level costs $ 5 The company has received a special order for 500 vases. If this order is accepted, the company will have to spend $15,000 on additional costs. Assuming that no sales to regular customers will be lost if the order is accepted, at what selling price will the company be indifferent between accepting and rejecting the special order

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Variable Cost Per Unit:
Manufacturing:
Direct Materials = $20
Direct Labor = $12
Variable Manufacturing Overhead = $4
Variable Selling and Administrative = $2
Fixed costs per year:
Fixed manufacturing overhead = $960,000
Fixed selling and administrative expenses = $240,000
During its first year of Operations, produced 60,000 units and sold 60,000 units. During it's second year of operations, it produced 75,000 and sold 50,000 units. In its third year, it produced 40,000 units and sold 65,000 units. The selling price of the companys product is $58 per unit.
1. Compute the companys break even point in units sold.
2. Assume the company uses the variable costing:
a. Compete the unit product cost for year 1, year 2, year 3
b. Prepare an income statement for year 1, 2, and 3
3. Assume the company uses absorption costing:
a. Compute the unit product cost for year 1, 2, and 3
b. Prepare an income statement for year 1, 2, and 3
4. Compare the net operating income figures that you computed in requirements 2 and 3 to the break even point that you computed in requirement 1. which net operating income figures seem counterintuitive? why?

Ramort Company reports the following cost data for its single product. The company regularly sells 21,500 units of its product at a price of $63.00 per unit. Direct materials $ 10.30 per unit Direct labor $ 12.30 per unit Overhead costs for the year Variable overhead $ 3.30 per unit Fixed overhead per year $ 52,900.00 Selling and administrative costs for the year Variable $ 2.30 per unit Fixed $ 65,500 Normal production level (in units) 21,500 units Compute gross margin under absorption costing. (Round unit cost amounts to 2 decimal places.)