The purpose of accounting in society is to provide useful financial information about an organization that can be used by various stakeholders, including investors, creditors, management, government, and the public. Few of them are Record-keeping, Financial reporting, Decision-making, Compliance, Performance evaluation.
What is an income statement?Partners share profits and losses and are personally responsible for the debts and liabilities of the business. Partnerships are easy to form and are flexible in terms of management structure.
A single individual owns and runs the company in a sole proprietorship kind of structure. All the company's liabilities and debts are personally owed by the owner. This type of business is simple to establish and has few legal requirements.
Partnership: In a partnership, two or more persons share responsibility for the company's ownership and management.
Shareholders are not personally responsible for the debts and liabilities of the corporation. Corporations have more legal requirements and are more complex to form than sole proprietorships or partnerships.
(a) Assets: Resources owned by a business, such as cash, accounts receivable, inventory, property, and equipment.
(b) Liabilities: Debts owed by a business, such as accounts payable, loans, and taxes owed.
(c) Equity: The residual interest in the assets of a business after deducting liabilities. It represents the ownership interest of the owners or shareholders.
(d) Net assets: The difference between a company's total assets and total liabilities.
Users of accounting information:
A. Shareholders (E)
B. Creditors (E)
C. Nonexecutive employee (I)
D. Research and development director (I)
E. Purchasing manager (I)
F. Human resources director (I)
G. Production supervisors (I)
H. Distribution managers (I)
Financial statements:
Income statement (I): Reports a company's revenues and expenses over a specific period. Balance sheet (B): Reports a company's assets, liabilities, and equity at a specific point in time.
Therefore, Statement of owner's equity (OE): Reports the changes in a company's equity over a specific period. Statement of cash flows (CF): Reports a company's cash inflows and outflows over a specific period.
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All the following are examples of primary industry EXCEPT a) mining B. agriculture C. building construction forestry E. fishing
Answer:
C.building construction
Explanation:
•this is because the primary industry/primary sector =>involves actives that deal with taking out resources from nature e.g mining either (diamonds or coal) , agriculture (forestry and growing for selling or for consuming) it's all from nature.1. Conceptual skills consist of the job-specific knowledge needed to perform well in a specialized Field and technical Skill, consist of the ability to think analytically, to visualize an organization as a whole and understand how parts work together.
True/ False
2.The perception that all people in a certain group share common Attitudes,Values, and beliefs is known as stereotyping.
True/ False
3.The Management Function of leading is defined as monitoring performance, comparing it with goals and taking corrective action as needed and Controlling is defined as motivating, directing, and otherwise influencing people to work hard to achieve Organization Goals.
True/False
4.Social Responsibility is the notion that Corporations are expected to go above and beyond following the law and making a profit and Corporate Social Responsibility (CSR) is a Manager's duty to take actions that will benefit the interest of Society as well as of the Organizations.
True/False
5. There are three types of Organizations classified according to the three purposes for which they are formed
(1) For-Profit,
(2) Nonprofit, and
(3) Mutual-Benefit.
6.An independently owned and managed profit-seeking Enterprise employing fewer than 100 people is called a Small Business.
True/False
7.A Vision Statement expresses the purpose of the Organization and a Mission Statment expresses what the organizaion should become and where it wants to go strategically.
True/False
8.Outsourcing is defined as using suppliers outside the United States to provide labor, goods, or services, and Global Outsourcing is define as using suppliers outside the company to provide goods and services.
True/False
10. The traditional Management Pyramid is composed of three levels of Management : (1) Top Management
(2) Middle Management and
(3) First-Line Maagement (Lower Level). Top Managers make long term decisions, Middle Managers implement those decisions, and First-Line Managers make short-Term decision.
11. In the International Arena, an Ethnocentric Manager is one who belives that their native country, culture, language and behavior are superior to all others.
True/False
12. Dr. W. Edwards Deming of the University of Tokyo and founder of the Union of Japanese Scientist and Engineers (JUSE) and Kaoura Ishikawa, American author of OUT OF THE CRISIS, are two of the leading quality advocates of the Operational Approach to Management. True/False
13.Management is defined as
(1) The persuit of Organizational Goals Efficiently and Effectively by
(2) integrating the work of people through
(3) Planning, Organizing, Leading and Controlling the Organization's Resources.
14. In the field of Management, a Functional Manager is responsible for overseeing the activities of just one organizational area, where as a General Manager is responsible for multiple organizational areas, for example several deparments such as Production, Finance, and Human Resources. True/False
15. Competitive Advantage is the ability of an organization to produce goods or services more effectively than competitors do, there by out perform them. This means that an organization must stay ahead in four areas
(1) being responsive to customers,
(2) Innovation,
(3) quality, and
(4) efficiency.
16. Strategic Management is the process that involves Managers from all parts of the Organization in the formulation and implmentation of Strategies and Strategic Goals.
True/False
17.A Closed System is an entity that continually interacts with, and is dependent on its Environment, for survival and Open System is a self-sufficient entity that does not interact with its Environment.
True/False
18.A Multinational Organization is a business firm with operations in several countries and a Multinational Corporation is a nonprofit organization with operations in several countries.
True/False
19.An Entrepreneur is one who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunties and assembling the necessary resources to capitalize on them.
True/False
20. The Deming Prize was instituted in Japan in 1951 in Commemoration of the friendship and contribution of Dr. Edward Deming, who went to Japan to instruct in the application of Statistical Quality Control Methods to industry.
True/False
21.Management theorist Fredrick W. Taylor the Early Scientific Management proponents have been praised for viewing workers as human, not Mindless Machines, who work for pleasure, not just for money.
True/False
22. Ethical Behavior is the Standards by which people distinguish what is morally right and wrong and these standards may vary among countries, among cultures, and Ethics refers to the behavior that is Accepted as "right" as opposed to "wrong" according to prevailing standards.
True/False
From the given statements, state no,1,2,4, 5, 6, 10-16, 19-20, and 22 are true. Whereas the remaining statements are false.
What is ethical behavior?The term "ethical behavior" alludes to deeds and choices that are in line with moral standards and ideals. These ideals and principles may be derived from philosophical theories, cultural norms, religious beliefs, or other forms of moral instruction.
What are the technical skills?Technical skills are the specific abilities and knowledge required to perform tasks related to a particular field, industry, or profession. Examples include programming languages, data analysis, design software, project management, network administration, and networking hardware, protocols, and software.
What are the soft skills that anyone must have?Soft skills are non-technical, interpersonal, and personal attributes that enable individuals to work effectively with others, communicate effectively, and demonstrate emotional intelligence in their work and personal lives. Examples include communication, teamwork, leadership, problem-solving, adaptability, time management, and emotional intelligence.
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Which of the following is NOT one of the three functions of money?
unit of account
store of value
basis of barter
medium of exchange
Basis of barter is not one of of the three functions of money among the other three options.
A nation's central bank issues coins and legal tender to enable the exchange of goods and services between market players. As a result, it functions as a medium of trade.
Money may also be used as a shop of value since the owner can keep it there to cover future consumption needs.
In addition, as money may be used to buy and sell any good or service, it functions as a unit of measurement and account.
Therefore, the correct answer is C. basis of barter
What is money, exactly?A good known as a means of economic exchange is money. It serves as the channel via which values and prices are communicated. Money is the primary indicator of wealth since it moves from one person to another and from one country to another, promoting commerce.
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Rodgers Corporation produces and sells football equipment. On July 1, 20Y1, Rodgers issued $26,500,000 of 10-year, 12% bonds at a market (effective) interest rate of 11%, receiving cash of $28,083,449. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.
Required:
For all journal entries, if an amount box does not require an entry, leave it blank.
Question Content Area
1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1.
The entry to record the cash proceeds from the issuance of the bonds on July 1, 20Y1 is:
Cash 28,083,449
Bonds Payable 26,500,000
Premium on Bonds Payable 1,583,449
The company received cash of $28,083,449 from the issuance of the bonds, which is the face value of $26,500,000 plus a premium of $1,583,449. The premium is the difference between the face value and the cash received, and represents the additional amount that investors are willing to pay for the bonds due to their higher interest rate compared to the market rate. The Premium on Bonds Payable account is a contra account to the Bonds Payable account, and reduces the carrying value of the bonds on the balance sheet.
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Part I: Say true if the statement is correct and false if it is wrong. 1. Complaints & suggestion boxes are Medias or tools of downward communication. 2. Introduction is prefatory part of a report. 3. Diagonal communication is a communication that takes place between departments which are having similar status. 4. The first step in writing a report is collecting data. 5. Written communication is painfully slow, especially where messages have to travel a distance. 6. Feasibility reports examine the practicality and advisability of following a course of action. 7. Concreteness in communication implies being vivid, specific and definite than general. 8. Intra personal communication contains all the essential elements of communication. 9. Grapevine type of communication is depicted in the formal organization structure. 10. Communication is the process of conveying message from one person to another so that they are understood. Part II: Matching Match words, phrases of definitions in column "A" with those items in "B" "A" "B" 1. Non verbal communication 2. Down ward communication 3. Encoding 4. Executive summary 5. Decoding 6. Bibliography 7. Principle of Successful meeting 8. Exit Interview 9. Oral communication 10. Mass communication A. Face -face communication between individuals B. Interview conduct when ever employees are laid off C. Synopsis D. Shows list of materials consulted E. Such type of communication is used to transfer orders, commands & job related instructions to employees at lower level F. Address one issue at a time G. Communication through signs, symbols, and gestures H. communication through radio, Television, and newspapers I. Refers to mental" wrapping" of a communication message J. upward communication K. It is the process of interpreting of message by the receiver Part III: Multiple Choice nstruction: Choose the correct answers for the questions below form the alternatives given and put the etters of your answers on the spaces provided. 1. One of the following is not the characteristic of communication? A. Concerns all managers at all level of management. B. It does 'not facilitate managerial functions. C. It facilitates managerial roles. D. None of the above 2. The use of movement to communicate. A. Haptics B. Proxemics C. Kinesis 3. Which one of the following the first level of communication. A. Intrapersonal B. Interpersonal C. Organizational D. Oculesics D. Intercultural
Answer:
Part I:
1.True
2.True
3.False
4.True
5.True
6.True
7.True
8.False
9.False
10.True
Part II:
1.G
2.E
3.I
4.C
5.K
6.B
7.F
8.B
9.A
10.H
Part III:
1.B
2.C
3.A
A simplified compound interest formula,
F
=
P
(
1
+
r
)
t
, can be used to calculate the wealth accumulated in the account after a certain number of years. In this scenario, there is a one-time deposit and the interest compounds annually. Derive the formula to calculate the value of a one-time deposit to ensure a specific final amount of money accumulated in the account. Answer in complete sentences.
The formula to ensure the value if a one-time deposit is accumulated into the account over a specific interest rate and time period is P = F/(1 + r)^t
What is the formula to calculate the value of a one-time deposit to ensure a specific final amount of money accumulated in the account?To derive the formula to calculate the value of a one-time deposit to ensure a specific final amount of money accumulated in the account, we can start with the simplified compound interest formula:
F = P(1 + r)^t
Where:
F = Final amount of money accumulated in the account
P = Principal or initial amount of money deposited
r = Interest rate per year
t = Number of years
To solve for P, we need to isolate it on one side of the equation. We can do this by dividing both sides of the equation by (1 + r)^t:
F/(1 + r)^t = P
Therefore, the formula to calculate the value of a one-time deposit to ensure a specific final amount of money accumulated in the account is:
P = F/(1 + r)^t
This formula can be used to determine the initial amount of money that needs to be deposited into an account to achieve a desired final amount, given a specific interest rate and time period.
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Doak Corp. is evaluating a project with the following cash flows:
Year Cash Flow
0 –$ 15,700
1 6,800
2 8,000
3 7,600
4 6,400
5 – 3,800
The company uses an interest rate of 12 percent on all of its projects. Calculate the MIRR of the project using all three methods.
If the company uses an interest rate of 12 percent on all of its projects, the MIRR of the project is 8.58%.
What would be the reinvestment rate approach using the MIRR?The present worth of all negative cash flows at the 12% finance rate is determined to be as FV of positive cash flows = $[tex]6,800(1.12)^{4}[/tex] + $8,000([tex]1.12)^{3}[/tex] + $7,600(1.12)² + $6,400(1.12) = $29,784.08
PV of capital flow negatives = $15,700
MIRR is calculated as [(FV of positive cash flows / PV of (-cash flows)) n times (1/n)]. - 1,
MIRR = [($29,784.08 /( [tex]$15,700)^{\frac{1}{5} }[/tex]] - 1
MIRR = 8.58%
What would be the Excel function by using MIRR?We can compute MIRR directly in Excel using the MIRR function.
=MIRR(range of cash flows, finance rate, reinvestment rate)
=MIRR(-15700, 6800, 8000, 7600, 6400, -3800, 0.12, 0.12) = 8.58%
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Under which ownership type is an owner (or owners) not liable for the company's lawsuits?
A. sole proprietorship
B. partnership
C. franchise
D.corporation
Answer:
D. corporation
Explanation:
Changes in the external environment greatly impact operation of business. Analyze this statement with a relevant example.
The external environment refers to all the factors that are outside the control of the organisation.
The elements of the external environment are as follows:
Social environment
Political environment
Economic environment
Technological environment
Legal environment
Environmental factors
Operations in business include all the activities that an organisation performs to produce its goods and services. It includes planning, organising, staffing, directing, and controlling the final outcome.
If there is any change in the external environment, such as in the social environment, it can affect the demand or trend of certain goods or services, which can impact the sales of the product or service in a negative or positive manner.
If there is change in any political environment, for example, if there is a new political party in power that is highly capitalistic, then the country might face privatization, which would affect many businesses.
The economic environment can directly affect the operations of businesses. If the economy is stagnant, the growth of businesses is unlikely, but if there is a boom period in the economy, there are high chances that businesses will grow.
If there is a change in the technological environment, then it would affect those businesses that are heavily technology driven.
The legal environment includes changes to certain laws under which businesses in the country are bound.
Introduction to or improvisation of any new law related to consumer rights, company listing, etc. can impact businesses in positive or negative ways.
Environmental factors are dependent on the geographical location of the business unit. In order to expand its reach, if a business decides to relocate to some different geographical location, then the climate of that particular location would impact the sales of some seasonal goods such as food, clothes, etc.
External environment changes can significantly affect business operations. For example, a natural disaster can disrupt supply chains, production,sales, leading to financial losses and reputational damage.
Natural disasters, such as hurricanes, earthquakes, floods, and wildfires, can have a significant impact on the operation of businesses. These events can disrupt supply chains, damage infrastructure, and cause financial losses, as well as threaten the safety of employees and customers.In the short term, natural disasters can lead to business interruptions, as companies may have to shut down their operations temporarily or indefinitely. This can result in lost revenue, missed deadlines, and disrupted relationships with suppliers and customers.In the long term, natural disasters can also have lasting effects on a company's reputation, as customers may view them as unreliable or unable to handle unforeseen circumstances. Additionally, companies may face legal and regulatory challenges in the aftermath of a natural disaster, such as complying with safety regulations or facing lawsuits related to environmental damage.
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Research shows that physically recording goals makes people more likely to actually achieve them.
A.
True
B.
False
Research shows that physically recording goals makes people more likely to actually achieve them. This statement is true.
What increases the likelihood that a goal will be attained?The accomplishment of objectives yields precise, measurable outputs that directly advance the project aims. Planning the actions to accomplish the long-term objectives in your grant by setting precise, measurable, attainable, relevant, and time-bound (SMART) objectives is a solid strategy.
If you disclose your progress in public or keep a tangible record of it, your chances of success will increase even further. According to study from the American Psychological Association, the more frequently you check in on your progress toward a goal, the more likely it is that you will succeed.
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Dana just graduated with an advanced degree in civil infrastructure engineering. What is an example of infrastructure they might be responsible for in their work?
A.
electrical grids for a neighborhood
B.
plane design for an airline
C.
transportation logistics for a delivery company
D.
video game design for development studios
Answer:
A. electrical grid for neighborhood
1. Conceptual skills consist of the job-specific knowledge needed to perform well in a specialized Field and technical Skill, consist of the ability to think analytically, to visualize an organization as a whole and understand how parts work together.
True/ False
2.The perception that all people in a certain group share common Attitudes,Values, and beliefs is known as stereotyping.
True/ False
3.The Management Function of leading is defined as monitoring performance, comparing it with goals and taking corrective action as needed and Controlling is defined as motivating, directing, and otherwise influencing people to work hard to achieve Organization Goals.
True/False
4.Social Responsibility is the notion that Corporations are expected to go above and beyond following the law and making a profit and Corporate Social Responsibility (CSR) is a Manager's duty to take actions that will benefit the interest of Society as well as of the Organizations.
True/False
5. There are three types of Organizations classified according to the three purposes for which they are formed
(1) For-Profit,
(2) Nonprofit, and
(3) Mutual-Benefit.
6.An independently owned and managed profit-seeking Enterprise employing fewer than 100 people is called a Small Business.
True/False
7.A Vision Statement expresses the purpose of the Organization and a Mission Statment expresses what the organizaion should become and where it wants to go strategically.
True/False
8.Outsourcing is defined as using suppliers outside the United States to provide labor, goods, or services, and Global Outsourcing is define as using suppliers outside the company to provide goods and services.
True/False
10. The traditional Management Pyramid is composed of three levels of Management : (1) Top Management
(2) Middle Management and
(3) First-Line Maagement (Lower Level). Top Managers make long term decisions, Middle Managers implement those decisions, and First-Line Managers make short-Term decision.
False. The statement is incorrect. Conceptual skills refer to the ability to think abstractly and understand complex ideas and relationships between different parts of an organization.
These skills allow individuals to think strategically and develop creative solutions to problems. Technical skills, on the other hand, refer to the specialized knowledge and abilities required to perform specific tasks related to a particular field. They involve the ability to use tools, techniques, and procedures to complete tasks in a specialized area. Therefore, the correct statement is that conceptual skills consist of the ability to think abstractly and understand complex relationships, while technical skills involve specialized knowledge and abilities needed to perform specific tasks.
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Complete the following sentences.
Roth IRA has restrictions. Traditional IRA has restrictions. An individual can contribute up to $5,500 into .
An individual can contribute up to $5,500 to both Roth IRA and Traditional IRA.
What is the difference between Roth IRA and Traditional IRA?Roth IRA is an individual retirement account offering tax-free growth and tax-free withdrawals in retirement because the contributions are based on after-tax income.
On the other hand, a Traditional IRA means that contributions are based on pre-tax incomes, therefore, the investment grows tax-deferred, and withdrawals are taxed as current income in retirement.
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Type the correct answer in the box. Spell all words correctly.
What are the three tiers in which a corporation is generally structured?
The structure of a corporation can be broadly divided into three tiers: the board of directors, the management team, and the
The structure of a corporation can be broadly divided into three tiers: the board of directors, the management team, and the employees/workers.
What are the three tiers in a corporation ?The Board of Directors is the highest tier of a corporation and is responsible for making major decisions related to the direction and strategy of the company.
The Management Team is the second tier of a corporation and is responsible for overseeing the day-to-day operations of the company.
The Employees/Workers make up the third tier of a corporation and are responsible for carrying out the tasks necessary to produce and deliver the company's products or services.
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A summary of the case study in 2-3 slides.
Discuss the case study questions.
Can Uber Be the Uber of Everything?
How does the Internet change consumer and supplier relationships?
The Internet may not make corporations obsolete, but the corporations will have to change their business models. Do you agree? Why or why not?
How have social technologies changed e-commerce?what
Have a slide with your references .please
The case study questions "Uber can be the Uber of everything" can be answered as follows:
Uber's expansion into sectors other than travel presents a number of challenges, and it's unclear whether Uber can overcome these and become competitive in other markets.The Internet has changed relationships between consumers and suppliers, making it simpler for consumers to access information about products and services, compare prices, and shop, regardless of location.Yes, corporations will have to adapt their business models to compete in a rapidly changing technology landscape. The Internet has created new opportunities for business, but it has also disrupted traditional industries and forced companies to innovate.Social technologies have transformed the way companies interact with customers and sell their products, generating changes in marketing, trends, distribution, etc.What are the benefits of social technologies for business?They have opened up new opportunities for companies to connect with customers, increase brand awareness and drive sales.
Therefore, while beneficial, the internet and social technologies for business have also created new challenges such as managing online reputation and dealing with negative feedback on social media.
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What is the newest career cluster?
A.
Agriculture, Food, and Natural Resources
B.
Manufacturing
C.
Energy
D.
Transportation, Distribution, and Logistics
C. energy
hope this helped!!
How can being a procrastinator hurt you in business?
Answer:
Explanation: Being a procrastinaor could cost you your job. Procrasinating important projects can results in you turning in medicore deliverables, and trust me your boss will notice. If you aren't sure where to start, ask your advisor or peer, people are always willing to help.
Examine some of the key factors that should be considered by HRIS project team when conducting an HRIS investment analysis for the acquisition of a new or improved HRIS
Discuss your requirements with your human resources department.
Discuss requirements with other members of the organisation. Examine your regulatory requirements (audit, compliance and risk management).
What exactly is HIRS?An HRIS (human resource information system) director is a human resource management department employee who serves as the technical point of contact (PoC).
The HRIS Project Manager is in charge of major HR system projects, HR system and process design, HR system configuration, data standards, reporting, and analytics, all while reporting to the HRIS Director.
The strategic process by which employers analyse their long-term talent needs in the context of business goals, identify and develop the best talent sources, and then execute the strategy by recruiting, evaluating, and onboarding candidates is known as talent acquisition.
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Discuss how the presentation of financial information in the enron case incorrectly influenced the decision of any of the users of financial information.
Investors: The incorrect presentation of financial information in the Enron case influenced shareholders' investment decisions. The business
The presentation of financial data in the Enron case was h
What exactly are examples and information?
Information image result
It is a collection of data that has been organised for direct human use, as information aids humans in their decision-making process. receipts, reports, and so on are examples.
What is information and what kinds of information are there?
It is knowledge that has been gained or shared through study, instruction, investigation, or news, and it is shared through the act of communicating, whether verbally, nonverbally, visually, or in writing. Intelligence, message, data, signal, or fact are all names for information.
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how is s bonded warehouse usefully for the importer
Answer:
Explanation:
A bonded warehouse can be very useful for importers for several reasons:
1. Delaying payment of import duties and taxes: When goods arrive in a country, the importer is typically required to pay duties and taxes on them before they can be released. However, by storing the goods in a bonded warehouse, the importer can delay payment of these fees until the goods are actually sold or shipped out of the warehouse. This can help improve cash flow for the importer and give them more flexibility in managing their finances.
2. Deferring customs clearance: If an importer is not yet ready to clear their goods through customs, they can store them in a bonded warehouse until they are ready to do so. This can be useful if the importer is waiting for documentation or approvals, or if they simply do not have the capacity to handle the goods immediately upon arrival.
3. Improving supply chain efficiency: By storing goods in a bonded warehouse, importers can gain greater control over their supply chain. They can coordinate the timing of shipments and deliveries more effectively, which can help reduce transportation costs and improve overall efficiency.
Overall, a bonded warehouse can be a very useful tool for importers. By storing their goods in a bonded warehouse, importers can delay payment of duties and taxes, defer customs clearance, improve supply chain efficiency, and access additional services. This can help importers manage their cash flow, reduce costs, and improve their overall operations.
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Rodgers Corporation produces and sells football equipment. On July 1, 20Y1, Rodgers issued $26,500,000 of 10-year, 12% bonds at a market (effective) interest rate of 11%, receiving cash of $28,083,449. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.
Question Content Area
1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1.
Question Content Area
2. Journalize the entries to record the following:
a. The first semiannual interest payment on December 31, 20Y1, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar.
Question Content Area
b. The interest payment on June 30, 20Y2, and the amortization of the bond premium, using the straight-line method. Round to the nearest dollar
Question Content Area
3. Determine the total interest expense for 20Y1. Round to the nearest dollar.
5. Compute the price of $28,083,449 received for the bonds by using the present value tables in Appendix A. Round your PV values to 5 decimal places and the final answers to the nearest dollar. Your total may vary slightly from the price given due to rounding differences.
Present value of the face amount $
Present value of the semi-annual interest payments
Price received for the bonds $
1- Journal entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1:
Cash $28,083,449
Bonds Payable $26,500,000
Premium on Bonds Payable $1,583,449
2a. Journal entries to record the first semiannual interest payment on December 31, 20Y1, and the amortization of the bond premium using the straight-line method:
Interest Expense $1,583,450
Premium on Bonds Payable $79,173
Cash $1,504,277
2b. Journal entries to record the interest payment on June 30, 20Y2, and the amortization of the bond premium using the straight-line method:
Interest Expense $1,583,450
Premium on Bonds Payable $79,173
Cash $1,504,277
3- Total interest expense for 20Y1 can be calculated as follows:
Interest Expense = Face amount of bonds x Annual interest rate
Interest Expense = $26,500,000 x 12%
Interest Expense = $3,180,000
Therefore, the total interest expense for 20Y1 is $3,180,000.
4- Compute the price of $28,083,449 received for the bonds by using the present value tables in Appendix A:
Face amount of bonds = $26,500,000
Annual interest rate = 12%
Effective interest rate = 11%
Number of periods = 20 (10 years x 2 semiannual periods)
Using the present value of $1 table in Appendix A, the present value factor for 20 periods at 5.5% (11%/2) is 0.37689.
Present value of the face amount = Face amount x Present value factor
Present value of the face amount = $26,500,000 x 0.37689
Present value of the face amount = $9,984,785
Using the present value of an annuity of $1 table in Appendix A, the present value factor for 20 periods at 5.5% (11%/2) is 8.13954.
Semi-annual interest payment = $26,500,000 x 12% / 2
Semi-annual interest payment = $1,590,000
Present value of the semi-annual interest payments = $1,590,000 x 8.13954
Present value of the semi-annual interest payments = $12,936,057
Price received for the bonds = Present value of the face amount + Present value of the semi-annual interest payments
Price received for the bonds = $9,984,785 + $12,936,057
Price received for the bonds = $22,920,842
Therefore, the price received for the bonds is $22,920,842.
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Ignacio is interested in working in a university and wants to help students, but doesn’t want to be a teacher. He’d like to get a sense of what it’s like to work as a university administrator. Which role is the BEST choice for him?
A.
assistant in the registrar’s office
B.
assistant to the librarian
C.
research assistant to a professor
D.
assistant to the janitorial staff
The correct answer is A. Assistant in the registrar's office is the BEST choice for Ignacio if he wants to get a sense of what it's like to work as a university administrator and help students without being a teacher.
The registrar's office is responsible for managing student records, maintaining academic policies, and facilitating course registration, among other duties. As an assistant in the registrar's office, Ignacio would have the opportunity to work closely with students, faculty, and staff and gain a broad understanding of how the university operates.This role would also provide him with exposure to various aspects of higher education administration, such as student services, academic policy, and data management. Additionally, it would allow him to build transferable skills, such as communication, organization, and problem-solving, which are valued in many fields.
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Sold Computer Equipment from the initial October 1 transaction (setting up the
company) that was recorded at $8,300 to Escambia County Schools for
$7,500 cash. (Remember: Computer equipment was deemed to have a
2 seven-year life with $1,000 salvage value – ROUND MONTHLY
DEPRECIATION EXPENSE TO NEAREST WHOLE DOLLAR)
According to the information given, it appears that the business gave Escambia County Schools computer equipment in exchange for $7,500 in cash.
Explain the given mechanism.The computer hardware had an initial cost of $8,300, which was noted on October 1. The depreciation expense was to be rounded up to the nearest whole dollar each month because the equipment was thought to have a seven-year life and a $1,000 salvage value. We must figure out the depreciable cost, which is the original cost less the salvage value, in order to calculate the depreciation expense for the equipment. The depreciable cost in this instance is $7,300 ($8,300 - $1,000). We can use the straight-line depreciation method to determine the monthly depreciation expense because the equipment has a seven-year life. The cost of depreciation is $7,300 / 7, or $1,042.86 annually.
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What is the definition of macroeconomic
Answer: Macroeconomics is a branch of economics that focuses on the performance, structure, and behavior of the entire economy, rather than individual markets or specific industries.
Explanation:
It deals with issues such as economic growth, inflation, unemployment, and the policies that governments use to manage these aspects of the economy. Macroeconomic analysis considers factors such as gross domestic product (GDP), interest rates, money supply, and international trade, among others, and attempts to understand how these variables interact to impact the overall performance of the economy.
The following data are taken from the income statement columns of the worksheet of a merchandising business prepared for the year ended December 31, 2002. Net Income Br. 12,500 Sales 45,000 Income Summary 10,000 Dr. and 6,000 Cr. Gross Purchase 19,750 Purchase Ret. & Allowances 200 Purchase Discount 50 BASED ON THE DATA GIVEN ABOVE ANSWER QUESTIONS 7-9 7. What is the total cost of goods sold for the year?
At the give up of the year, the products that had been now not sold are subtracted from the sum of starting stock and extra purchases. The remaining range derived from the calculation is the value of goods offered for the year.
How do you calculate whole value of items offered for the year?At a fundamental level, the fee of items bought method is: Starting inventory + purchases − ending inventory = price of goods sold.
What is the value of items offered for the year?How to Calculate Cost of Goods Sold. If you're calculating the price of items sold in a year, add your stock cost at the establishing of the yr and any purchases — which include materials, labor and indirect overhead costs — made at some stage in the year. Then subtract your inventory value at the give up of the year.
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100pt will mark brainiest
You are the portfolio manager for the Ebbs mutual fund. This fund has total assets of $18,000,000, total liabilities of $1,250,500, and 75,000 outstanding shares. You have a client that desires to invest $10,000 into this fund. Your firm charges a front-end load of $500 for the initial purchase of shares within this fund. Calculate the
N
A
V
P
S
and the number of shares your client will purchase within this fund, then select the correct answers.
The
N
A
V
P
S
for the Ebbs fund is .
The client will purchase of Ebbs mutual fund.
As a portfolio manager, the NAVPS for the Ebbs fund is $226.66., Therefore, the client will purchase 41.91 shares within the Ebbs fund.
As a portfolio manager Total Assets - Total Liabilities (Total Asset Value (NAV)) / Number of Outstanding Shares NAV = ($18,000,000 - $1,250,500) / 75,000 NAV = $226.66 As a result, the Ebbs fund's NAVPS is $226.66. We must first take the front-end load out of the client's desired investment in order to determine how many shares they will buy: Investment amount: $10,000 less $500 is $9,500. After that, we can multiply this sum by the NAVPS: Shares Required = Investment Amount / NAVPS Shares are equal to $9,500 divided by $226.66. Total Shares = 41.91 The client will consequently buy 41.91 shares of the Ebbs fund.
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Negative effects of globalization in an undeveloped country?
Answer:
Negative effects of globalization in an underdeveloped country include increased internal disparities, benefits to the educated, increased control of MNCs, etc.
With the increasing growth of globalization all around the world, globalization has also entered countries that are underdeveloped and poor. But this has various negative effects of globalization on these countries.
The negative effect includes control of MNCs. As MNCs establish their companies in underdeveloped countries, they might create a monopoly over these countries and may harm the natural resources. Countries of the west are a good example of creating a monopoly over underdeveloped African countries.
Disparities between the rich and poor will also increase in these countries due to globalization. As globalization increases, the educated will immediately benefit as they know about the world and may know languages like English which are spoken all over the world, creating an advantage over the poor, thus increasing disparities.
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The comparison and contrasting of the tax administration system in Namibia and other countries
In many ways, Namibia's tax administration system is comparable to that of other nations, including the collection of funds to support governmental operations and the provision of services to taxpayers. There are, however, other distinctions that make it unique.
Namibia has a very sophisticated tax administration system with a focus on taxpayer education and compliance when compared to several other African nations. Technology has also been used to simplify tax collection and lower fraud.
Namibia's tax structure is simpler and less complicated than that of wealthy nations. Also, it relies less on direct taxes like income tax and more on indirect taxes like value-added tax (VAT).
Generally, Namibia's tax administration system has some features in common with those of other nations, but it also has some key distinctions that reflect the economy of the nation.
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A portfolio manager’s client invests in a fund with total assets of $14,200,000, total liabilities of $1,500,000, and a total of 50,000 shares outstanding. Calculate the NAVPS for this fund. Answer using complete sentences.
Answer: $254
Explanation:
The NAVPS (Net Asset Value Per Share) for the given fund can be calculated as the difference between the total assets and the total liabilities divided by the total number of shares outstanding:
NAVPS = (Total assets - Total liabilities) / Total shares outstanding
Substituting the given values, we get:
NAVPS = ($14,200,000 - $1,500,000) / 50,000
= $12,700,000 / 50,000
= $254
Therefore, the NAVPS for the given fund is $254 per share. This means that for every share held by the client, they own a portion of the underlying assets of the fund worth $254. It is important to note that the NAVPS may fluctuate over time as the value of the underlying assets and liabilities of the fund changes.
business plan template
A business plan template would include things such as :
Executive SummaryBusiness DescriptionMarket AnalysisMarketing and SalesOperationsManagement and PersonnelFinancial PlanWhat goes into a business plan ?A business plan would include:
Executive Summary: This section should briefly summarize your business idea and the key points of your plan.Business Description: Describe your business idea, including what products or services you will offer.Market Analysis: Conduct research on your industry and target market, and provide an overview of the competitive landscape.Marketing and Sales: Outline your marketing strategy and tactics, and how you plan to reach and engage your target customers.Operations: Describe how you will produce and deliver your products or services, and any resources or partnerships you will need to do so.Management and Personnel: Detail the key members of your team, their roles, and their skills and experience. Financial Plan: Provide a financial forecast for your business, including revenue projections, cost of goods sold, operating expenses, and cash flow projections.Find out more on business plans at https://brainly.com/question/28303018
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