Business High School
Answers
Answer 1
Consumer culture is a dominant social and economic system that revolves around the consumption of goods and services, influencing individuals' identities and behaviors, but its impact has both positive and negative effects on humanity and the planet.
1. Consumer culture is the social and economic system where individuals' identities and behaviors are heavily influenced by their consumption patterns and the acquisition of goods and services. It encompasses the beliefs, attitudes, and practices that prioritize the consumption of products as a means of expressing social status, personal identity, and achieving happiness or fulfillment.
2. The dominance of consumer culture can be attributed to various factors. Firstly, industrialization and technological advancements have enabled mass production and widespread availability of goods. Coupled with effective marketing strategies, this has created a culture of constant desire for new products. Secondly, economic systems, particularly capitalism, promote consumption as a means of driving economic growth. Consumer spending is seen as essential for employment, investment, and overall economic stability.
3. The impact of consumer culture on humanity and the planet has both positive and negative effects. On the positive side, consumer culture drives economic growth, generates job opportunities, and fosters innovation and technological advancements. It offers individuals a range of choices and conveniences, enhancing their quality of life. However, the negative effects are significant. Consumer culture promotes materialism, leading to discontent, a constant desire for more, and a disregard for non-material aspects of life.
To learn more about economic: https://brainly.com/question/14355320
#SPJ11
Related Questions
Many companies hire business economists to develop quantitative estimates of the relationships among the variables that influence the demand for their products. Explain what types of biases arise in the direct surveys approach to understanding consumer demand and behavior. O b. consumer responses may not accurately reflect their actual behavior in the marketplace. O a. Consumers may be too direct in giving unfriendly responses. Oc. The responses may be useless
Answers
Consumer demand is the willingness of consumers to pay a price for a specific good or service. It is a crucial concept in economics, as it refers to the consumers' readiness to buy products at various prices, thereby affecting supply and demand.
The direct surveys approach is a widely used method to understand consumer demand and behavior. This method involves questioning a sample of customers about their preferences and behavior, analyzing the answers, and predicting how consumers are likely to behave in the future. However, there are some biases that arise in the direct surveys approach to understanding consumer demand and behavior.
These biases include: Consumer responses may not accurately reflect their actual behavior in the marketplace. This is because consumers may not always be aware of their real motivations for buying a product, or they may not want to disclose their real reasons for buying a product.
For instance, a customer may say that he or she buys a product because of its quality, but in reality, the customer may be buying the product because of its brand name or advertising. The responses may be useless. This happens when the questions asked are too complicated or vague, leading to consumers' confusion. They may not understand the question, or they may give an answer that is not relevant to the question asked. Consumers may be too direct in giving unfriendly responses.
This may happen when a customer feels that the survey is too long or intrusive. They may give unfriendly responses or refuse to answer the questions at all. This can lead to inaccurate data and poor predictions about consumer demand and behavior. In conclusion, the direct surveys approach is a useful method to understand consumer demand and behavior.
However, it is essential to be aware of the biases that can arise in this approach to ensure accurate data and predictions.
To know more about Consumer demand refer here:
https://brainly.com/question/30267081#
#SPJ11
What are the three key assets that Walmart can leverage (build on) to compete with Amazon and other online retailers?
2. What is Walmart’s e-commerce strategy?
3. Why isn’t Walmart worried about the channel conflict between its online sales and its store sales?
4. Why is Walmart in-sourcing the development of its online operation, in part by acquiring technology companies rather than outsourcing development to low-cost countries and other domestic firms?
5. Why did Walmart acquire Jet.com?
6. How does Walmart’s fulfillment operation differ from Amazon’s?
Answers
1. The three key assets that Walmart can leverage (build on) to compete with Amazon and other online retailers are: large number of stores, Extensive product assortment, and Strong supply chain network.
2. Walmart's e-commerce strategy includes the use of the website, mobile app, and in-store pick-up service. The website and mobile app are used to offer a wide variety of products to customers, while the in-store pick-up service allows customers to buy products online and pick them up at their local Walmart store.
3. Walmart isn't worried about channel conflict between its online sales and its store sales because the company believes that offering customers the convenience of shopping online and picking up in-store will drive more foot traffic to its stores, increasing sales overall.
4. Walmart is in-sourcing the development of its online operation, in part by acquiring technology companies rather than outsourcing development to low-cost countries and other domestic firms because the company believes that owning the technology and talent will give it a competitive advantage over other retailers.
5. Walmart acquired Jet.com in order to gain access to its technology and talent, as well as to expand its customer base in urban areas and among millennials.
6. Walmart's fulfillment operation differs from Amazon's in that it relies more heavily on its existing network of stores and distribution centers to fulfill online orders, while Amazon relies more on dedicated fulfillment centers. Additionally, Walmart offers in-store pick-up for online orders, while Amazon does not have physical stores for customers to pick up orders.
To know more about supply chain refer to:
https://brainly.com/question/28148415
#SPJ11
Homer's Donut Shoppe has the production function q = 5L^0.5. What is the average product of labor at quantity 8?
Answers
Homer's Donut Shoppe has the production function q = 5L^0.5. The average product of labor is calculated by dividing the quantity of output by the number of workers.
At quantity 8, the average product of labor is 8 / 2 = 4 donuts per worker.
How to solve
To calculate the average product of labor, we can use the following formula:
AP = q / L
where:
AP is the average product of labor
q is the quantity of output
L is the number of workers
In this case, we have:
AP = 8 / 2 = 4 donuts per worker
This means that, on average, each worker at Homer's Donut Shoppe produces 4 donuts per hour.
Read more about product of labor here:
https://brainly.com/question/15416553
#SPJ4
Using the simple expenditure model Y and Ep:
Would a tax increase on the rich cause GDP to rise in the short run? Why?
Are there macroeconomic conditions in the simple model which such a tax increase would be fully warranted?
Answers
Strong tax buoyancy is indicated by a greater tax to GDP ratio. The government is under more pressure to reduce the budget deficit when the tax-to-GDP ratio is lower. Aggregate demand (AD) will probably increase as a result of increased government spending.
In the short run, this may result in greater growth. Additionally, it can cause inflation. Since an increase in government expenditure causes the aggregate demand curve to move to the right, there is an increase in the equilibrium real gross domestic product when tax rates and spending are both raised by the same amount.
To learn more about expenditure, click here.
https://brainly.com/question/30063968
#SPJ4
Suppose you have been hired as a financial consultant to Defense Electronics, Inc. (DEI), a large, publicly traded firm that is the market share leader in radar detection systems (RDSS). The company is looking at setting up a manufacturing plant overseas to produce a new line of RDSs. This will be a five-year project. The company bought some land three years ago for $7.2 million in anticipation of using it as a toxic dump site for waste chemicals, but it built a piping system to safely discard the chemicals instead. If the land were sold today, the net proceeds would be $7.66 million after taxes. In five years, the land will be worth $7.96 million after taxes. The company wants to build its new manufacturing plant on this land; the plant will cost $13.24 million to build. The following market data on DEI's securities are current: Debt Common stock: 91,200 6.9 percent coupon bonds outstanding, 23 years to maturity, selling for 94.4 percent of par; the bonds have a $1,000 par value each and make semiannual payments. Market: 1,600,000 shares outstanding, selling for $94.60 per share; the beta is 1.26. Preferred stack: 75,000 shares of 8.25 percent preferred stock outstanding. selling for $92.60 per share. 6.85 percent expected market risk premium: 5.15 percent risk- free rate. DEI's tax rate is 21 percent. The project requires $855,000 in initial networking capital investment to get operational Calculate the project's Time 0 cash flow, taking jos assunt all side effects. Assume that any NWC raised does not require floatation costs. The new RDS project is somewhat riskier than a typical project for DEI, primarily because the plant is being located overseas. Management has told you to use an adjustment factor of +3 percent to account for this increased riskiness. Calculate the appropriate discount rate to use when evaluating DEF's project. The manufacturing plant has an eight-year tax life, and DEI uses straight-line depreciation. At the end of the project (ie.. the end of Year 5), the plant can be scrapped for $1.56 million. What is the sectas salvage value of this manufacturing plant? de company will incur $2,360,000 in annual fixed casts. The plan is to manufacture 13,600 RDSs per year and sell them at $11.000 per machine, the variable production costs are $10,200 per RDS What is the annual operating cash flow. OCF from this project? Calculate the project's net present value cua, the project's internal rate of return.
Answers
Time o cash stream: -$4.72 million.
Discount rate: 16.801%.
Salvage value: $1.56 million.
How to calculate the project's net present value cua of the project
To calculate the project's Time cash stream, we have to consider the starting project within the fabricating plant and the net continues from offering the arrival:
Time cash stream = cost of building the plant - Net continues from offering the arrival + Starting organizing a capital venture
= -$13.24 million + $7.66 million + $855,000
= -$4.72 million
To calculate the fitting discount rate, we ought to alter the company's cost of capital for the expanded peril of the abroad project:
Rebate rate = cost of capital + Alteration figure
= Risk-free rate + Beta * Showcase hazard premium + Alteration figure
= 5.15% + 1.26 * 6.85% + 3%
= 5.15% + 8.651% + 3%
= 16.801%
The salvage value of the fabricating plant at the conclusion of Year 5 is given as $1.56 million.
The yearly working cash stream (OCF) can be calculated as follows:
OCF = (Yearly income - Yearly variable costs) - Yearly settled costs - Devaluation
= (13,600 * $11,000 - 13,600 * $10,200) - $2,360,000 - ($13.24 million / 8 a long time)
To calculate the project's net market value (NPV), we rebate the project's cash streams at the suitable rebate rate and subtract the beginning speculation:
NPV = -Introductory speculation + (OCF / Rebate rate) * (1 - (1 + Rebate rate)^(-Number of a long time))
The project's inside rate of return (IRR) is the rebate rate that produces the NPV rising to zero. It is the rate at which the extension breaks indeed.
Learn more about net present value here:
https://brainly.com/question/18848923
#SPJ1
Libscomb Technologies' annual sales are $6,270,543 and all sales are made on credit, it purchases $4,217,655 of materials each year (and this is its cost of goods sold). Libscomb also has $570,818 of inventory, $1,475,000 of accounts receivable, and $1,400,000 of accounts payable. Assume a 365 day year. What is Libscomb's Receivables Period (in days)?
Answers
Libscomb Technologies' Receivables Period is approximately 86 days. This means it takes an average of 86 days for the company to collect payments from its customers.
To calculate Libscomb Technologies' Receivables Period, we need to determine the average collection period for its accounts receivable. This measures the average number of days it takes for the company to collect payments from its customers.
The formula for Receivables Period is:
Receivables Period = (Accounts Receivable / Annual Sales) x 365
Given the following information:
Annual Sales = $6,270,543
Accounts Receivable = $1,475,000
Plugging these values into the formula, we get:
Receivables Period = ($1,475,000 / $6,270,543) x 365
Calculating this, we have:
Receivables Period = (0.235 x 365)
Receivables Period ≈ 86 days
Therefore, Libscomb Technologies' Receivables Period is approximately 86 days. This means it takes an average of 86 days for the company to collect payments from its customers.
To know more about Payment, visit
brainly.com/question/25898631
#SPJ11
During August, 2022, Crane's Supply Store generated revenues of $59000. The company's expenses were as follows:cost of goods sold of $35000 and operating expenses of $3500. The company also had rent revenue of $900 and again on the sale of a delivery truck of $1500 Crane's net income for August, 2022 is a) $20500. b) $22900. c) $24000. d) $21400.
Answers
The net income for Crane's Supply Store for August, 2022 will be $21400.
Revenue is the total amount of money received by a company, organization, or government as a result of sales, income, taxes, fees, or other sources.Crane's Supply Store had revenues of $59000 in August 2022. The company's cost of goods sold and operating expenses totaled $38500.
Rent revenue and gain on sale of delivery truck are the two additional items on the income statement that will add up to revenue.Rent revenue of $900 is added to revenue and the sale of delivery truck at a gain of $1500 is added as well. Net income is calculated by deducting expenses from the total revenue.
Thus, the net income for August, 2022 will be:Total revenue = $59000Rent revenue = $900Gain on sale of delivery truck = $1500Total revenue + Rent revenue + Gain on sale of delivery truck = $59000 + $900 + $1500 = $61400Expenses = $38500 Net income = Total revenue + Rent revenue + Gain on sale of delivery truck - Expenses= $61400 - $38500= $22900
Therefore, the net income for Crane's Supply Store for August, 2022 will be $22900. Hence, the correct option is b) $22900.
Learn more about revenue: brainly.com/question/29567732
#SPJ11
The Stanford Video Guide to Negotiation
Briefly describe what the negotiation was about
Answers
The Stanford Video Guide to Negotiation is a comprehensive resource that provides insights into negotiation strategies, tactics, and scenarios.
The Stanford Video Guide to Negotiation is a comprehensive resource that delves into the intricacies of negotiation. It provides insights into various negotiation scenarios, strategies, and tactics. The guide offers real-life examples and simulations to help viewers understand the dynamics of negotiation in different contexts. While there isn't a specific negotiation outlined in the guide, it covers a wide range of topics such as distributive negotiation (where parties compete for resources) and integrative negotiation (where parties seek mutually beneficial solutions).
It explores important aspects of negotiation, including preparation, effective communication, building trust, managing emotions, and reaching agreements. The guide emphasizes the importance of understanding interests, creating value, and finding win-win solutions in negotiations. It also highlights the significance of effective problem-solving and creative thinking in complex negotiation situations. Overall, the Stanford Video Guide to Negotiation provides valuable insights and practical advice for individuals looking to enhance their negotiation skills and achieve successful outcomes in various professional and personal settings.
Learn more about negotiation here:
https://brainly.com/question/31558218
#SPJ11
Compute the gross profit rate for a company reporting cost of goods sold of $316,000, and net sales of $460,000. Format your answer as ##.# (do not include any signs).
The balance in the Income Summary account after the first two closing entries are posted will be equal to which of the following?
Total revenues
Total expenses
Net income
Total dividends
Answers
Gross profit rate: 31.3. The gross profit rate is calculated by dividing the gross profit by net sales and multiplying by 100%.
Given:
Cost of Goods Sold = $316,000
Net Sales = $460,000
Gross Profit = Net Sales - Cost of Goods Sold
Gross Profit = $460,000 - $316,000
Gross Profit = $144,000
Gross Profit Rate = (Gross Profit / Net Sales) * 100%
Gross Profit Rate = ($144,000 / $460,000) * 100%
Gross Profit Rate ≈ 31.3%
The company's gross profit rate is approximately 31.3%. This means that for every dollar of net sales, the company is earning a gross profit of 31.3 cents. The gross profit rate is an indicator of the company's ability to generate profit from its sales after deducting the cost of goods sold. A higher gross profit rate is generally favorable as it implies better profitability.
Regarding the balance in the Income Summary account after the first two closing entries are posted, it cannot be determined based on the given information. The balance in the Income Summary account depends on the specific revenues, expenses, net income, and dividends for the period, which are not provided in the question.
To know more Gross profit, visit : brainly.com/question/32468543
#SPJ11
Strategy Execution. What is strategy execution? Briefly describe the eight principal managerial components of strategy execution. Why is there often a gap between strategy and execution? What are some actions that management can take to excel at both strategy and execution in their organization?
Gamble, J., Peteraf, M., & Thompson, A. (2019). Essentials of Strategic Management, 6th Edition. NY, NY: McGraw-Hill.
Answers
Strategy execution refers to the successful implementation of the formulated strategy.
The principal managerial components of strategy execution are as follows:
1. Develop an effective organizational structure: An organization structure should be developed to align with the strategy.
2. Establish a strategy-supportive culture: Organizational culture should be supportive of strategy.
3. Establish a system of effective controls: A system of control should be implemented that facilitates the execution of strategy.
4. Create and use best practices: Best practices should be identified and adopted by the organization.
5. Reward the desired behaviors: Employees who contribute to the execution of strategy should be rewarded.
6. Foster strong leadership: Leaders should be identified and developed who can successfully lead the organization through the execution of the strategy.
7. Build employee capabilities: Employee capability should be developed to support strategy execution.
8. Institute policies and procedures that facilitate strategy execution: Policies and procedures that facilitate the execution of strategy should be developed.
The gap between strategy and execution occurs due to poor strategy formulation, inadequate leadership, ineffective communication, and lack of accountability.
To excel at both strategy and execution in their organization, management can take several actions, such as a clear communication of the strategy, involvement of the employees in the strategy execution, the establishment of measurable goals, alignment of the company's structure with the strategy, adequate resourcing of the strategy execution, effective management of risks, and monitoring of the strategy execution process.
Learn more about Strategy execution:
brainly.com/question/32812519
#SPJ11
QUESTION 22 20 points Save fro FIN300 Corporation issued 20-year, noncalable, 8% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 6%. What is the cument price of the bond given that they now have 15 years to maturity? QUESTION 23 FIN300 inc's manager believes that economic conditions during the next year will be strong, normal or weak and she thinks that the free will have the probably do Mas vandard deviation of the estimated reuma? (Hint Use the formula for the standard deviation of a population, not a sample) Do not routyou made Economic at the manurity rick premum (MKP) equals zero, the yield curve must be far e. If the maturity risk premium (MRP) is greater than zero, then the yield curve must have an upward slope
Answers
QUESTION 22: The current price of the bond is the present value of future cash flows, calculated using the given formula.
QUESTION 23: Incomplete question, missing information needed to calculate standard deviation and analyze yield curve.
QUESTION 22:
To work out the ongoing cost of the bond, we want to utilize the current worth recipe. The recipe for working out the current worth of a bond is:
PV = [tex]C * (1 - (1 + r)^{(- n)})/r + F/(1 + r)^n[/tex]
Where:
PV = Present worth or current cost of the bond
C = Coupon installment (yearly interest installment)
r = Market loan cost
n = Number of years to development
F = Assumed worth or standard worth of the bond
Considering that the security has a 15-year remaining development, a coupon pace of 8%, a presumptive worth of $1,000, and a market financing cost of 6%, we can substitute the qualities into the equation:
PV = 80 * (1 -[tex](1 + 0.06)^{(- 15)[/tex])/0.06 + 1000/[tex](1 + 0.06)^{15[/tex]
By settling this condition, we can track down the ongoing value (PV) of the bond.
QUESTION 23:
The inquiry is by all accounts deficient, as the data with respect to the probabilities and standard deviation of the assessed return is absent. It is essential to give those qualities to work out the standard deviation.
Moreover, there is a notice of "manurity rick premum (MKP)" and "Maturity risk premium (MRP)," yet it is muddled the way in which these variables connect with the yield bend. If it's not too much trouble, give the total inquiry and fundamental data for a more precise response.
To learn more about maturity risk premium (MRP), refer:
https://brainly.com/question/14550701
#SPJ4
The Complete question is:
If the maturity risk premium (MRP) is greater than zero, then the yield curve must have an upwand slope QUESTION 22 20 points Save fro FIN300 Corporation issued 20-year, noncalable, 8% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 6%. What is the cument price of the bond given that they now have 15 years to maturity? for the toolbar, press ALT+F10 (PC) or ALT-FN-F10(Mac) BIUS Y Paragraph AI XOOQ F Arial 10pt E 20 QUESTION 23 FIN300 inc's manager believes that economic conditions during the next year will be strong, normal or weak and she thinks that the free will have the probably do Mas vandard deviation of the estimated reuma? (Hint Use the formula for the standard deviation of a population, not a sample) Do not routyou made Economic at the manurity rick premum (MKP) equals zero, the yield curve must be far e. If the maturity risk premium (MRP) is greater than zero, then the yield curve must have an upward slope QUESTION 22 20 points Save Anver FIN300 Corporation issued 20-year, noncallable, 8% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 6% What is the curent price of the bonds given that they now have 15 years to maturity? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) B IU Paragraph Arial M 10pt 4 EEAA I. XO FE WORDS POWERED BY TH 20 points QUESTION 23 FIN300 inc's manager believes that economic conditions during the next year will be strong, normal, or weak, and she thinks that the fm's returns will have the probably darbuon shoe What's the standard deviation of the estimated retums?
A project has an initial invesment of $1,027 ears $5.203 per year and spends $2.889 per year and has a salvage value of 5553 With an interest rate of 10% per year how much is the present worth PW for a 5 year project .......
Answers
The present worth (PW) of the five-year project can be calculated as follows: PW = P - A (P / A, i, n) + S (P / F, i, n) Where: P = Initial investment, A = Annual payment, S = Salvage value, i = Interest rate, n = Number of years.
For this problem, the given values are: P = $1,027A = $5,203S = $5553i = 10% per year, n = 5 years Substituting these values in the above formula, we get:
PW = 1027 - 5203 (P / A, 10%, 5) + 5553
(P / F, 10%, 5) Using present worth factor from the Present Worth of an Annuity (P / A) table, we get:
P / A, 10%, 5 = 3.7908
Using present worth factor from the Present Worth of a Single Amount (P / F) table, we get:
P / F, 10%, 5 = 0.6209.
Substituting these values in the above equation, we get:
PW = 1027 - 5203 (3.7908) + 5553 (0.6209)
PW = -$11,007.10
Therefore, the present worth (PW) of the five-year project is -$11,007.10. This means that the project is not worth investing in as the net present value (NPV) is negative. When the NPV is negative, the investment is not expected to generate any returns above the cost of capital.
to know about salvage value visit:
https://brainly.com/question/31922161
#SPJ11
The simple circular flow model shows that: households are on the selling side of the resource market and on the buying side of the product market. households are on the buying side of both product and resource markets. businesses are on the buying side of the product market and on the selling side of the resource market. businesses are on the selling side of both product and resource markets.
Answers
The simple circular flow model shows that businesses are on the buying side of the product market and on the selling side of the resource market.
The simple circular flow model is a simplified representation of the flow of goods, services, and payments in an economy. It includes two main sectors: households and businesses.In this model, households are the ultimate consumers of goods and services. They are the buyers in the product market where they purchase goods and services from businesses. At the same time, households are also the owners of factors of production such as labor, land, and capital. They supply these resources to businesses in the resource market, where businesses purchase them to produce goods and services.On the other hand, businesses are the producers of goods and services. They are the sellers in the product market where they offer their products to households. In order to produce these goods and services, businesses require resources which they obtain from households in the resource market. Businesses pay households for these resources, such as wages for labor and rent for land.Therefore, based on the simple circular flow model, businesses are on the buying side of the product market as they purchase resources from households, and they are on the selling side of the resource market as they sell goods and services to households.In summary, businesses are on the buying side of the product market and on the selling side of the resource market according to the simple circular flow model.
For more such questions on circular flow model, click on:
https://brainly.com/question/24878815
#SPJ8
There is a well-documented "healthy immigrant" effect, whereby recent immigrants are healthier than the Canadian population. Table SA1 provides some summary statistics from the Canadian Community Health Survey (CCHS) for the year 2014. Each cell contains the proportign of respondents by immigrant type (Canadian born or Recent Immigrant) within a given characteristic (health status, age-group, education level). Health status is measured by the hospital admission in the past 12 months. True/False/Uncertain. Recent immigrants are healthier because they are older and have lower levels of education, which increases their demand for health capital (as predicted by the Grossman Model's investment demand for health).
Answers
False. The statement that Recent immigrants are healthier because they are older and have lower levels of education, which increases their demand for health capital (as predicted by the Grossman Model's investment demand for health)" is not correct.
Why is the prediction by Grossman Model's investment demand for health false?
There is something known as the healthy immigrant effect.
This is a situation where immigrants might have better health than the native-born population when they arrive to a new country. This is as a result of many variables such as
Selective migration: the tendency for more healthy individual choosing to immigrate than unhealthy ones.
Health screening: there is a possibility of a country allowing only healthy immigrants after they've been screened.
Access to healthcare: Immigrants may have better access to healthcare in their new country than they did in their home country.
Since Grossman Model's investment demand for health is based on Health status which is measured by the hospital admission in the past 12 months, it does not consider the above factors and the possibilty of lack of financial power being a major reason why immigrants may not visit hospitals regularly for treatments.
Find more exercises on Grossman Model's;
https://brainly.com/question/32740193
#SPJ4
Jack Uzi, wholesale toys online, operates out of his office in his parents' apartment, with inventory Every toy he sells is first purchased then re-sold, but only after the order comes through. You need to help him out with his bookkeeping. The following transactions occurred in October: a. Paid E500 for lease of computer equipment in advance for November b. Cash Sales of £4,847. (for stuffed animal) c. Cash sales of £4.488 (for Educational Toys) d. Cash sales of £4,702 (for Video Games) e. Cash Sales of £1,827 (for Pretend play toys) f. Purchase of office supplies on account from Bing's Office Supply, £416. g. Withdrawal by owner (Jack Uzi) of £1,600. h. Payment on account (Bing's), 390. i. Payment of wages with cash, £2,500
j. Payment for cleaning services with cash, £74 k. Payment to purchase stuffed animal, 14.044 l. Payment to purchase Educational Toys, £3,547 m. Payment to purchase Video Games, 64, 169 n. Payment to purchase Pretend-play toys. £1,382 Further, he has account balances for the beginning of October as follows: Cash £2,000 Accounts Payable, Bing's Office Supply Hut £75
Office Supplies £75Jack Uzi, Capital £75 £ 2000 Instructions 1. Prepare books of original entries (Sales journal purchase journal, cash journal) 2. Prepare the general ledger 3. Jack checked his bank balance and he noticed that his actual cash balance was £20 less due to overdraft fees, make the necessary adjustments 4. Prepare a trial balance for October 31 2017 5. Prepare a cash Flow Statement for October 31, 2017 6. Prepare an Income Statement for the period ending October 31, 2017 7. Prepare a Balance Sheet for October 31, 2017
Answers
Jack Uzi needs assistance with his bookkeeping, including recording transactions, adjusting for overdraft fees, and preparing financial statements for October 31, 2017.
How can Jack Uzi effectively manage his bookkeeping tasks?
Jack Uzi, the owner of wholesale toys online, requires help with his bookkeeping to maintain accurate financial records. In October, various transactions took place. He paid £500 in advance for computer equipment lease, made cash sales totaling £15,864 for stuffed animals, educational toys, video games, and pretend play toys. He also made purchases on account from Bing's Office Supply for office supplies and made payments to Bing's and for wages and cleaning services. Additionally, he made withdrawals and payments to purchase inventory.
To begin, Jack should record these transactions in the appropriate journals: sales journal for cash sales, purchase journal for inventory purchases, and cash journal for cash transactions. These books of original entries will serve as a comprehensive record of the business's financial activities.
Learn more about financial statements
brainly.com/question/14951563
#SPJ11
How are the seven buyer motivations related to Maslow's Hierarchy of Needs? a. Both theories propose that consumers make purchases to satisfy some need. b. Both theories propose that all needs must be satisfied at once. c. Both theories propose that some needs must be met first before others. d. All of the above
Answers
The seven buyer motivations are related to Maslow's Hierarchy of Needs in the following way: Both theories propose that consumers make purchases to satisfy some need and some needs must be met first before others. The correct option is c. Both theories propose that some needs must be met first before others.
What does it mean?
Abraham Maslow's hierarchy of needs theory is a motivation theory used by marketers to understand the needs of a consumer.
It has five basic levels of needs that are arranged in a pyramid shape:
physiological needs, safety needs, social needs, esteem needs, and self-actualization needs.
Maslow's hierarchy of needs theory describes that basic needs must be fulfilled before an individual's higher-level needs become relevant.
This means that the lower-level needs must be satisfied first before an individual can move to the next level.
The seven buyer motivations are related to Maslow's hierarchy of needs in that both theories propose that consumers make purchases to satisfy some need and some needs must be met first before others.
Therefore, option c. Both theories propose that some needs must be met first before others is the correct option.
To know more on Maslow's theory visit:
https://brainly.com/question/31142575
#SPJ11
The joint probabilities shown in a table with two rows, 4 and ₂ and two columns, B₁ and B₂, are as follows: P( 4 and B₂ ) = .10, P( 4 and B₂) = .30, P( 4₂ and B₂) = .05, and P( 4₂ and B₂) = .55. Then P( 4₂ ) is a. .40 b. .60 C. .15 d. .85
Answers
P(4₂) is equal to 0.60, hence the correct answer is (b) 0.60.
To calculate P(4₂), we need to sum the probabilities of the two events that involve the row 4 and column ₂.
To get the probability of 4, we need to add the probabilities of 4 and B₁ and 4 and B₂.
P(4) = P(4 and B₁) + P(4 and B₂).
Putting the given values in the equation, we get:
P(4) = 0.10 + 0.30
= 0.40
To get the probability of 4₂, we need to add the probabilities of 4₂ and B₁ and 4₂ and B₂.
P(4₂) = P(4₂ and B₁) + P(4₂ and B₂).
Putting the given values in the equation, we get:
P(4₂) = 0.05 + 0.55
= 0.60
and given the joint probabilities table:
B₁ B₂
40.10 0.30
4₂0.050.55
To calculate P(4₂), we sum the probabilities in the row 4₂:
P(4₂) = P(4₂ and B₁) + P(4₂ and B₂)
From the table, we see that P(4₂ and B₁) is 0.05 and P(4₂ and B₂) is 0.55.
P(4₂) = 0.05 + 0.55 = 0.60
Therefore, P(4₂) is equal to 0.60.
The correct answer is (b) 0.60.
To learn more about probabilities, visit:
https://brainly.com/question/32117953
#SPJ11
Use the following information to answer this question:
Total guests during the year for a hotel 166,576
Number of rooms available (per day) 463
Occupancy 78.855%
RevPAR 92.01
The ratio of room revenue to total revenue 65%
The ratio of gross operating profit to total revenue 45%
The total revenue per available room (Daily) is $114.55
None of the above
$141.55
$151.55
$115.55
Answers
The total revenue per available room (Daily) is 115.55Explanation:
We can calculate the daily revenue using the given values as follows:
Total guests in a year=166,576
Since each guest stays for a day, the total number of rooms booked in a year = 166,576
Number of rooms available per day = 463Occupancy rate = 78.855%
Therefore, the number of rooms occupied per day = 0.78855 * 463 = 365.48 ≈ 365
Revenue per occupied room = RevPAR = 92.01
Therefore, revenue per day = 92.01 * 365 = 33,545.65
Total revenue = Revenue per day * number of days in a year = 33,545.65 * 365 = 12,244,935.25
Revenue from rooms = 65% of total revenue = 0.65 * 12,244,935.25 = 7,962,453.06
Gross operating profit = 45% of total revenue = 0.45 * 12,244,935.25 = 5,510,220.86
Revenue per available room (Daily) = Total revenue from rooms / number of rooms available per day= 7,962,453.06 / 463 ≈ 17.194.44
Total revenue per available room (Daily) = Revenue per available room (Daily) + gross operating profit (per available room per day) = 17.194.44 + (45% * 17.194.44) = 24.958.59 = 25.00 (Approx)
The actual value of revenue per available room (Daily) =114.55
Therefore, the total revenue per available room (Daily) is 115.55.
To know more about available visit :
https://brainly.com/question/17442839
#SPJ11
A credit sale of $2000 is made on April 25, terms 1/10, n/30, on which a return of $200 is granted on April 28. What amount is received as payment in full on May 4? a. $2000 b. $1980 c. $1800 d. $1782
Answers
The amount that is received as payment in full on May 4 is $1800.
A credit sale of $2000 is made on April 25, terms 1/10, n/30, on which a return of $200 is granted on April 28.
We need to calculate the amount that is received as payment in full on May 4.To find the amount received as payment in full on May 4, we need to calculate the net amount payable first. The net amount payable is the difference between the total amount due and the return granted. The amount due is calculated as follows:
Amount due = Credit sale - Cash discount= $2000 - 1% of $2000= $2000 - $20= $1980
The net amount payable is:Net amount payable = Amount due - Return granted= $1980 - $200= $1780
Now, to find the amount received as payment in full on May 4, we need to add the cash discount to the net amount payable.
The cash discount is calculated as follows:Cash discount = 1% of net amount payable= 1% of $1780= $17.80
The amount received as payment in full on May 4 is:Amount received = Net amount payable - Cash discount= $1780 - $17.80= $1762.20
However, the closest option available is $1800, which means that the amount received as payment in full on May 4 is $1800.
Know more about credit sale here:
https://brainly.com/question/31282434
#SPJ11
A man has a simple discount note for $6,600, at an ordinary bank discount rate of 8.72%, for 60 days. What is the effective interest rate? Round to the nearest tenth of a percent.
The effective interest rate is ?
Answers
The effective interest rate is 9.1%.Explanation: We are given a simple discount note of $6,600 and an ordinary bank discount rate of 8.72%. We are also given the time period, which is 60 days.
To find the effective interest rate, we can use the following formula: Effective interest rate = (1 - discount rate)^(365/time period) - 1We can convert the discount rate to a decimal by dividing by 100:
Discount rate = 8.72/100
= 0.0872Now we can substitute the given values into the formula:
Effective interest rate = (1 - 0.0872)^(365/60) - 1Simplifying:
Effective interest rate = (0.9128)^6 - 1Effective interest rate
= 0.4699 or 46.99% (rounded to four decimal places)However, we need to round the answer to the nearest tenth of a percent, which gives:Effective interest rate ≈ 9.1%Therefore, the effective interest rate is approximately 9.1%.
To know more about bank visit:
https://brainly.com/question/32623313
#SPJ11
If China's real GDP is higher than the U.S's, why is U.S. per capita GDP higher than China's, and what does that mean about standards of living in both countries? Explain.
Answers
As per the report of 2019, China has a higher real Gross Domestic Product (GDP) than the United States (U.S.), but the per capita GDP in the U.S. is higher than China's.
The difference is significant due to China's larger population. Let's understand the concept of GDP and per capita GDP before moving forward. Gross Domestic Product (GDP) is the total value of goods and services produced within a country's borders.
GDP per capita, also known as per capita GDP, is a measure of a country's economic output that accounts for its number of people. The GDP per capita is the ratio of a country's GDP to its population size. It is calculated by dividing the country's GDP by the total number of people living in the country.
As per the report of 2019, China's real GDP was $14.34 trillion, while the U.S's real GDP was $21.44 trillion. But, China's population is higher than the U.S. This means that China has more goods and services to distribute among its people.
To know more about Domestic visit:
https://brainly.com/question/31361440
#SPJ11
In CM at risk, how is the CM selected? When does the CM typically become involved? What is
the CM’s role before construction commences? When does the CM actually become "at risk"?
If a CM has a problem interpreting some aspects of a set of plans and/or specifications, they will
issue a document to the architect. What is this document called, and what process is followed
in order to get the required information to the CM?
How does a CM get paid for his/her work?
Answers
The CM (Construction Manager) is typically selected based on qualifications such as education, experience, and track record. The CM’s involvement usually starts during the preconstruction stage where they work with the owner and other stakeholders to finalize the project scope, budget, schedule, and design.
Once these factors are defined, the CM helps select the architect and contractors for the project. The CM’s role before construction commences is to plan and manage the project, communicate with the stakeholders, and coordinate the design and construction documents. During this stage, the CM provides value engineering to help the owner optimize the project scope and cost. The CM becomes "at risk" when they provide a Guaranteed Maximum Price (GMP) to the owner. The GMP is a fixed price for the project that the CM is responsible for delivering. If the project cost exceeds the GMP, the CM is responsible for the overage.
The CM’s role before construction commences is to plan and manage the project, communicate with the stakeholders, and coordinate the design and construction documents. During this stage, the CM provides value engineering to help the owner optimize the project scope and cost.The document that a CM issues to the architect when they have a problem interpreting some aspects of a set of plans and/or specifications is called a Request for Information (RFI). The RFI is used to get the required information to the CM by submitting it to the architect, who then reviews the information and issues a response.
The CM gets paid for their work in several ways, including a percentage of the construction cost, a fixed fee, or a combination of both. The payment structure is typically defined in the contract between the owner and the CM. In addition to the CM fee, the CM can also receive incentives for meeting project goals such as completing the project ahead of schedule, under budget, or with high-quality standards. However, the CM is also at risk of incurring additional costs if the project exceeds the GMP. The CM must manage the project to minimize the risks and ensure that the project is delivered on time, within budget, and to the required quality standards.
To know more about Construction Manager visit :
https://brainly.com/question/32669840
#SPJ11
When is contractionary montary policy a good thing? a decrease
in GDP is always often seen as a negative thing by economist since,
we need higher gdp for standard of living?
Answers
Contractionary monetary policy can be considered beneficial in certain situations to address specific economic challenges, such as controlling inflation and stabilizing the economy in the long run. However, a decrease in GDP is generally seen as a negative thing by economists.
Contractionary monetary policy is implemented by the central bank to reduce the money supply and restrict borrowing and spending in the economy. It is typically employed to address inflationary pressures or an overheating economy. By raising interest rates and tightening credit availability, contractionary monetary policy aims to slow down economic activity and reduce aggregate demand.
While a decrease in GDP is generally viewed as undesirable, there are situations where contractionary monetary policy can be beneficial. If the economy is experiencing high inflation, it can erode the purchasing power of consumers, reduce business profitability, and create economic instability.
In such cases, contractionary monetary policy can help curb inflationary pressures and restore price stability, which ultimately contributes to a more sustainable and healthier economy in the long run.
However, it is important to note that sustained economic growth, reflected by an increase in GDP, is generally considered essential for improving living standards and creating job opportunities.
A decrease in GDP can indicate a contraction in economic activity, leading to reduced income, employment, and overall economic well-being.
Hence, policymakers typically strive to achieve a balance between managing inflationary pressures and promoting economic growth to ensure a favorable standard of living for the population.
Learn more about monetary policy here :
https://brainly.com/question/31259802
#SPJ11
You are hired by the Marriott Hotel as a Front office Manager and the General Manager has set a goal for you to increase sales by 20% through in house sales at the Front Desk. On your first day the F&B Manager with the General Manager have a conversation with you about the spending several thousand dollars on a marketing study to determine the dining needs of in-house guests. The chef has rewritten each menu to reflect those needs. However, the bell staff and front desk clerks continue to recommend the MidTown Deli around the corner as "a nice place to get something good to eat anytime of the day."
What programs can you put in place to increase sales at the Front Desk?
How can you send more guests to the hotel restaurant and what policies and procedures would you implement?
Answers
As the Front Office Manager at the Marriott Hotel, you need to focus on implementing programs that will help to increase in-house sales. The several stratergies are Implement Training Programs for Front Desk Staff, Implement Marketing Programs, Implement Customer Feedback System, Ensure Adequate Staffing.
Implement Training Programs for Front Desk Staff: A lack of knowledge about the hotel's restaurant is one reason guests may not eat at the restaurant. Therefore, you should create training programs to ensure that front desk clerks and bell staff are knowledgeable about the menu, and inform guests about the restaurants available in the hotel. This will encourage guests to dine in the hotel restaurant. Implement Marketing Programs: Create marketing strategies and sales techniques to persuade guests to dine in the hotel restaurant. One such strategy is to offer in-house guests a complimentary meal with the purchase of another meal or to include restaurant vouchers in the guest's welcome package. Implement Customer Feedback System: By soliciting feedback from customers, it will be possible to identify any challenges in the dining experience and make the necessary changes. This will enhance guests' dining experiences and increase their willingness to dine at the hotel's restaurant. Ensure Adequate Staffing: Inadequate staffing can result in long wait times for guests, which can negatively impact their dining experience. As the front office manager, ensure that the restaurant is adequately staffed at all times, especially during peak hours. This will enhance the guests' dining experience and encourage them to dine in the hotel's restaurant.
For more such questions on Manager
https://brainly.com/question/24708179
#SPJ8
Flan Company issued 7,000 shares of $10 par value common stock at a market price or $16 As a result of this accounting event, the affect on equaly accoutit* wocila Mutiple Choice increase by 542000 be unafiecied by the evert increese by 570000 increase by \$112000
Answers
The accounting event of issuing 7,000 shares of $10 par value common stock at a market price of $16 resulted in an increase of $112,000 in equity accounts.
When a company issues shares of common stock, it receives capital from investors in exchange for ownership in the company. In this case, Flan Company issued 7,000 shares of common stock with a par value of $10 per share. The par value represents the nominal value assigned to each share. The difference between the market price and the par value is known as the premium. In this case, the premium per share would be $16 - $10 = $6.
To determine the increase in equity accounts, we can multiply the premium per share by the number of shares issued: $6 x 7,000 = $42,000. This represents the additional capital contributed by investors above the nominal par value. Since the par value is typically recorded separately from the additional paid-in capital, the total increase in equity accounts would be the sum of the par value and the additional paid-in capital: $42,000 + $70,000 = $112,000.
To learn more about stock follow:
https://brainly.com/question/31940696
#SPJ11
Explain the meaning of Public Relations in your own words. 5 points
2. Discuss the meaning of theory and how theories play an important role to PR practitioners. You may cite an example for clarity of your answer..
3.Discuss the history of PR and how Ivy Lee contributed in the field of Public Relations.
Answers
Public Relations (PR) is the strategic communication practice aimed at establishing and maintaining mutually beneficial relationships between an organization and its various stakeholders. It involves managing and influencing perceptions, building trust, and creating a positive reputation for the organization.
Strategic communication: PR involves developing and implementing strategic communication plans and tactics to achieve specific goals and objectives. Two-way communication: PR emphasizes the importance of listening and engaging in dialogue with stakeholders, seeking feedback and understanding their needs and concerns. Theories in PR provide frameworks and models that guide PR practitioners in their strategic decision-making and communication efforts. Ivy Lee is considered one of the pioneers of modern PR and made significant contributions to the field. In the early 20th century, he introduced a more ethical and transparent approach to PR.
learn more about:-Strategic communication here
https://brainly.com/question/28833758
#SPJ11
For successful organizational performance the employee, the employer and the government have key roles to play. Discuss the role of each citing relevant examples. (15marks) the course is emoloyee performance
Answers
The roles of employees, employers, and the government in organizational performance are crucial for success. Employees contribute through their job performance, meeting targets, and delivering high-quality work.
Following are the roles of an employee, employer, and government in organizational performance:
Employee Role are play a crucial role in contributing to the success of an organization. They are responsible for their performance, productivity, and engagement. Employees contribute to organizational performance in several ways:
Job Performance: Employees are expected to perform their assigned tasks and responsibilities effectively and efficiently. By delivering high-quality work, meeting targets, and achieving objectives, employees directly contribute to organizational success. For example, a salesperson who consistently exceeds sales targets positively impacts the organization's revenue and profitability.
Innovation and Creativity: Employees can contribute to organizational performance by generating new ideas, offering innovative solutions, and promoting a culture of creativity. By bringing fresh perspectives and suggesting improvements, employees contribute to process optimization, product development, and overall organizational growth. For instance, an employee who introduces a more efficient workflow or a new product feature can enhance the organization's competitive advantage.
Employer Role: Employers also have significant responsibilities in facilitating employee performance and organizational success. Their role includes:
Goal Setting and Performance Management: Employers need to set clear goals and expectations for employees. They should provide regular feedback, conduct performance evaluations, and offer necessary support and resources. By aligning employee objectives with organizational goals, employers can enhance individual and overall performance.
Training and Development: Employers should invest in employee training and development programs to enhance skills, knowledge, and capabilities. By providing opportunities for learning and growth, employers can improve employee performance, motivation, and job satisfaction. For example, a company that offers leadership development programs can cultivate a pool of competent managers who drive organizational success.
Government Role: The government plays a regulatory and supportive role in facilitating organizational performance. Some relevant examples of the government's role include:
Employment Laws and Regulations are The government establishes labor laws and regulations that ensure fair treatment, safety, and protection of employees. These laws promote a healthy work environment and safeguard employees' rights, contributing to their well-being and productivity.
In conclusion, successful organizational performance requires active participation from employees, employers, and the government. Employees contribute through their job performance and innovative ideas, while employers play a crucial role in goal setting, performance management, and training. The government's role involves creating a favorable regulatory environment and supporting initiatives for employee development. By recognizing and fulfilling these roles, all stakeholders can contribute to organizational success.
To know more on organizational performance: https://brainly.com/question/13404941
#SPJ11
The following data pertains to ABC Farms at Dec 31, 20X1: Cows, 100,000 Chicken, 56,000 Bottled Milk, 25,000 Cheese, 12,000 Dressed chicken, 5,000 Mango Trees, 80,000 Harvested green mangoes, 5,000 Paper trees 10,000 (to be harvested on 20X2) How much is the agricultural produce?
17,000
22,000
27,000
42,000
Answers
As per the given values, the agricultural produce is 29000.
Cows: 100,000
Chicken: 56,000
Bottled Milk: 25,000
Cheese: 12,000
Dressed Chicken: 5,000
Mango Trees: 80,000
Harvested Green Mangoes: 5,000
Calculating the total quantity of the producers -
= Cows + Chicken
= 100,000 + 56000
= 1,56,000
Calculating the total quantity of the products -
= Cheese + Chicken + Mango Trees + Green Mangoes + Milk
= 12,000 + 5,000 + 80,000 + 5000 + 25000
= 1,27,000
Calculating total produce -
= 1,56,000 - 1,27,000
= 29,000
Read more about agricultural produce on:
https://brainly.com/question/30408297
#SPJ4
Scenario: You are the Chief Investment Officer of the company and has identified Malaysia as the next country to investment. (company: indorama ventures)
1. Conduct a strategic position analysis related to the investment. Identify five key challenges for your company to start up a company in Malaysia. Critically explain these challenges. Be specific to the planned investment. (20 marks)
2. Identify five strategic capabilities of your company to be successful in Malaysia. Critically explain three factors. Be specific to the planned investment. (20 marks)
3. Assuming the company requires additional RM200 million to finance its investment in Malaysia. Propose an appropriate financing plan to secure the additional funding. Describe and justify the financing plan of your choice with specific detail.
Answers
You are the Chief Investment Officer of the company and have identified Malaysia as the next country to investment. Conduct a strategic position analysis related to the investment. Identify five key challenges for your company to start up a company in Malaysia. Critically explain these challenges.
Be specific to the planned investment.The five key challenges for Indorama Ventures to start up a company in Malaysia include poor infrastructure, legal issues, cultural differences, competition, and labor problems. Firstly, poor infrastructure is one of the main challenges that Indorama Ventures would face as poor roads and communication systems can hinder supply chain management and delivery of goods.Secondly, legal issues are also one of the significant challenges. Malaysia's laws and regulations may differ from the company's home country, and there may be a lack of clarity on legal procedures.
To know more about investment visit:
brainly.com/question/29346257
#SPJ11
Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $21.00 per hour. 15,600 units used 64,500 hours at an hourly rate of $19.10 per hour.
Direct labor rate variance: $_____
Direct labor time variance: $_____
Direct labor cost variance: $_____
Answers
Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $21.00 per hour. 15,600 units used 64,500 hours at an hourly rate of $19.10 per hour. The values for Direct labor rate variance: -$122,350 Direct labor time variance: $371,700 and Direct labor cost variance: $250,440.
Formula used:
Direct Labor Rate Variance = (AH × AR) - (AH × SR)
Direct Labor Time Variance = (AH - SH) × SR
Direct Labor Cost Variance = AHC - SHC Where ,SR = Standard Rate, AH = Actual Hours, AR = Actual Rate, SH = Standard Hours, AHC = Actual Hourly Cost, SHC = Standard Hourly Cost
By substituting the given data in the above formula, we get:
Direct Labor Rate Variance = (AH × AR) - (AH × SR)= (64,500 hours × $19.10 per hour) - (64,500 hours × $21 per hour)= $1,236,150 - $1,358,500= -$122,350
The direct labor rate variance is -$122,350.
Direct Labor Time Variance = (AH - SH) × SR= (64,500 hours - 46,800 hours) × $21 per hour= 17,700 hours × $21 per hour= $371,700
The direct labor time variance is $371,700.
Direct Labor Cost Variance = AHC - SHC= ($1,233,240) - ($982,800)= $250,440.
The direct labor cost variance is $250,440.
Hence, Direct labor rate variance: -$122,350 Direct labor time variance: $371,700 and Direct labor cost variance: $250,440.
To know more about standard hourly rate refer here:
https://brainly.com/question/29533763
#SPJ11
