On December 28, Summit purchased Microsoft common shares for $485,000. On December 31, the shares had a fair value of $487,000.
Record the initial investment by Summit and, if appropriate, an adjustment to record the investment at fair value.

Answers

Answer 1

On December 28, Summit made an initial investment in Microsoft common shares for $485,000. On December 31, the fair value of the shares increased to $487,000.

This requires recording the initial investment by Summit and adjusting the investment to reflect its fair value. To record the initial investment by Summit, the following journal entry can be made:

Date: December 28

Debit: Microsoft common shares - $485,000

Credit: Cash - $485,000

This entry reflects the purchase of the Microsoft common shares by Summit for $485,000.

Next, to adjust the investment to fair value, an adjustment entry is needed on December 31. The fair value adjustment is recorded as follows:

Date: December 31

Debit: Microsoft common shares - $2,000

Credit: Fair value adjustment - $2,000

The debit to Microsoft common shares reflects the increase in value from $485,000 to $487,000, while the credit to fair value adjustment represents the adjustment amount.

By making these journal entries, Summit records the initial investment in Microsoft shares and adjusts the investment to reflect its fair value at the end of the period. This allows for accurate reporting of the investment's value on the company's financial statements.

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Related Questions

The production department of Hareston Company has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 8,200 2nd Quarter 9,200 3rd Quarter 7,200 4th Quarter 6,200 Units to be produced In addition, the beginning raw materials inventory for the first quarter is budgeted to be 2,000 kilograms and the beginning accounts payable for the first quarter are budgeted to be $3,540. Each unit requires 3.2 kilograms of raw material that costs $2.60 per kilogram. Management desires to end each quarter with an inventory of raw materials equal to 10% of the following quarter's production needs. The desired ending inventory for the fourth quarter is 2,400 kilograms. Management plans to pay for 80% of raw material purchases in the quarter acquired and 20% in the following quarter. Each unit requires 0.6 direct labour-hours, and direct labour-hour workers are paid $20.0 per hour.

Answers

The beginning raw materials inventory for Q1 is 2,000 kg, and beginning accounts payable is $3,540.

To calculate the detailed information for the production department of Hareston Company, we will need to determine the following:

Raw Material Requirements:

We'll start by calculating the raw material requirements for each quarter based on the forecasted production and desired ending inventory.

1st Quarter:

Raw materials needed = (8,200 units + 10% of 9,200 units) × 3.2 kg per unit

Raw materials needed = (8,200 + 920) × 3.2 kg = 27,040 kg

2nd Quarter:

Raw materials needed = (9,200 units + 10% of 7,200 units) × 3.2 kg per unit

Raw materials needed = (9,200 + 720) × 3.2 kg = 32,640 kg

3rd Quarter:

Raw materials needed = (7,200 units + 10% of 6,200 units) × 3.2 kg per unit

Raw materials needed = (7,200 + 620) × 3.2 kg = 26,880 kg

4th Quarter:

Raw materials needed = (6,200 units + 10% of 0 units) × 3.2 kg per unit

Raw materials needed = (6,200 + 0) × 3.2 kg = 19,840 kg

Raw Material Purchases:

Next, we'll calculate the raw material purchases by considering the payment terms and desired ending inventory.

1st Quarter:

Raw materials purchased = Raw materials needed for 1st quarter - Beginning raw materials inventory

Raw materials purchased = 27,040 kg - 2,000 kg = 25,040 kg

2nd Quarter:

Raw materials purchased = Raw materials needed for 2nd quarter - Desired ending inventory for 1st quarter

Raw materials purchased = 32,640 kg - (0.10 * 9,200 * 3.2 kg) = 29,360 kg

3rd Quarter:

Raw materials purchased = Raw materials needed for 3rd quarter - Desired ending inventory for 2nd quarter

Raw materials purchased = 26,880 kg - (0.10 * 7,200 * 3.2 kg) = 25,040 kg

4th Quarter:

Raw materials purchased = Raw materials needed for 4th quarter - Desired ending inventory for 3rd quarter

Raw materials purchased = 19,840 kg - (0.10 * 6,200 * 3.2 kg) = 18,400 kg

Raw Material Cost:

Now, we'll calculate the cost of raw materials purchased based on the cost per kilogram.

1st Quarter:

Raw material cost = Raw materials purchased for 1st quarter × Cost per kilogram

Raw material cost = 25,040 kg × $2.60/kg = $65,104

2nd Quarter:

Raw material cost = Raw materials purchased for 2nd quarter × Cost per kilogram

Raw material cost = 29,360 kg × $2.60/kg = $76,336

3rd Quarter:

Raw material cost = Raw materials purchased for 3rd quarter × Cost per kilogram

Raw material cost = 25,040 kg × $2.60/kg = $65,104

4th Quarter:

Raw material cost = Raw materials purchased for 4th quarter × Cost per kilogram

Raw material cost = 18,400 kg × $2.60/kg = $47,840

Direct Labor Cost:

We'll calculate the direct labor cost by multiplying the direct labor-hours per unit by the labor rate.

1st Quarter:

Direct labor cost = 8,200 units × 0.6 direct labor-hours per unit × $20.0 per hour

Direct labor cost = $98,400

2nd Quarter:

Direct labor cost = 9,200 units × 0.6 direct labor-hours per unit × $20.0 per hour

Direct labor cost = $110,400

3rd Quarter:

Direct labor cost = 7,200 units × 0.6 direct labor-hours per unit × $20.0 per hour

Direct labor cost = $86,400

4th Quarter:

Direct labor cost = 6,200 units × 0.6 direct labor-hours per unit × $20.0 per hour

Direct labor cost = $74,400

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jazz corporation owns 10 percent of the mitchell corporation stock. mitchell distributed a $14,000 dividend to jazz corporation. jazz corporation's taxable income (loss) before the dividend income was ($2,400). what is the amount of jazz's dividends received deduction on the dividend it received from mitchell corporation?

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The dividends received deduction (DRD) allows corporations to exclude a portion of the dividends they receive from another corporation from their taxable income. The amount of the DRD depends on the ownership percentage of the stock.

In this case, Jazz Corporation owns 10% of Mitchell Corporation stock and received a $14,000 dividend from Mitchell Corporation. To calculate the DRD, we need to multiply the dividend amount by the DRD percentage, which is based on the ownership percentage.

The DRD percentage for a 10% ownership is typically 50%. Therefore, the amount of Jazz Corporation's dividends received deduction on the dividend it received from Mitchell Corporation would be:

DRD = Dividend amount * DRD percentage

= $14,000 * 50%

= $7,000

So, Jazz Corporation's dividends received deduction on the dividend it received from Mitchell Corporation would be $7,000.

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zager, a member, is preparing a tax return for evans. zager believes that evans is taking a frivolous position on the return to be prepared. what is a frivolous position?

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A frivolous position refers to an unsupported or baseless stance taken by a taxpayer on their tax return, typically with the intention of avoiding or reducing their tax liability in an improper or unlawful manner. It involves making a claim or argument that lacks a valid legal or factual basis.

In the context of tax preparation, if Zager believes that Evans is taking a frivolous position on the tax return, it means that Evans is attempting to assert deductions, credits, or other tax benefits that are not supported by applicable tax laws or regulations. This could include making exaggerated or false claims, misinterpreting tax laws, or relying on tax evasion schemes. Taking a frivolous position on a tax return is highly discouraged and can lead to serious consequences. The tax authorities, such as the Internal Revenue Service (IRS) in the United States, actively identify and penalize taxpayers who engage in such practices. Penalties for filing a frivolous tax return can include fines, interest charges, and even criminal prosecution. As a responsible tax professional, Zager should advise Evans against taking a frivolous position and instead ensure that the tax return accurately reflects Evans' true financial situation in accordance with applicable tax laws.

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Constantinople and Okyeremah Asante are graduates of the University of Ghana Business School belonging to the class of 2022. They are also best of friends who have recently decided to explore the opportunities the government of Ghana is giving to citizens based on the 1district, 1 Factory policy (1D1F). They reached out to teacher Mantey a local poultry farmer at Adeiso and begin discussing the possibility of buying all his poultry. To this wit, they ask him not to sell any of the produce from the month of March 2022 as they are going to pay for it all in order to feed their 1D1F factory at Fumesua. Teacher Mantey is so excited about this development although there is nothing written on paper to this effect. He sends a message to the local clients he has had for all these years that he is no longer going to be able to supply them with poultry from the month of March, 2022. It is now May, 2022 and Constantinople and his partner have not showed up to make good their promise. Teacher Mantey has been left in a limbo as his poultry has not been bought and he has not been able to pay for the overhead costs and other ancillary expenses. He is confused and does not know where to turn to for help. In this state of helplessness, one of the folks in the town informed him that you have studied Business law and as such with confidence, he approaches you for help.

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Constantinople and Okyeremah Asante should have drafted a **written agreement** with Teacher Mantey to ensure a clear understanding and legal enforceability of their business arrangement. In the absence of a written agreement, Teacher Mantey might face difficulties in claiming compensation for the losses he incurred.

A **detailed explanation** of the issue reveals that the lack of a legally binding contract between the parties caused uncertainty and potential financial loss for Teacher Mantey. A proper contract would have outlined the terms of the agreement, such as the quantity and price of the poultry, payment terms, and the duration of the agreement.

Without a written contract, it is challenging for Teacher Mantey to prove the existence and terms of their verbal agreement, making it difficult for him to seek legal remedies or compensation. It is advisable for Teacher Mantey to consult with a lawyer to assess his options and to ensure that future business arrangements are properly documented and legally enforceable.

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Procter and Gamble​ (PG) paid an annual dividend of $1.72 in 2009. You expect PG to increase its dividends by 7.1% per year for the next five years​ (through 2014), and thereafter by 3.1%per year. If the appropriate equity cost of capital for Procter and Gamble is 8.9% per​ year, use the​ dividend-discount model to estimate its value per share at the end of 2009.
a) The price per share is ​$​------ (Round to the nearest​cent.)

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To estimate the value per share of Procter and Gamble (PG) at the end of 2009 using the dividend-discount model, we need to calculate the present value of the expected future dividends.

First, let's calculate the present value of the dividends expected from 2010 to 2014 using the dividend growth rate of 7.1% per year:

PV(div2010-2014) = ∑ (div / (1 + r)^t)

PV(div2010-2014) = (div2010 / (1 + r)^1) + (div2011 / (1 + r)^2) + (div2012 / (1 + r)^3) + (div2013 / (1 + r)^4) + (div2014 / (1 + r)^5)

PV(div2010-2014) = ($1.72 / (1 + 0.071)^1) + ($1.72 * (1 + 0.071) / (1 + 0.071)^2) + ($1.72 * (1 + 0.071)^2 / (1 + 0.071)^3) + ($1.72 * (1 + 0.071)^3 / (1 + 0.071)^4) + ($1.72 * (1 + 0.071)^4 / (1 + 0.071)^5)

PV(div2010-2014) = $1.72 / 1.071 + $1.72 * 1.071 / 1.071^2 + $1.72 * 1.071^2 / 1.071^3 + $1.72 * 1.071^3 / 1.071^4 + $1.72 * 1.071^4 / 1.071^5

Next, let's calculate the present value of the dividends expected after 2014 using the growth rate of 3.1% per year:

PV(div2015-onwards) = div2015 / (r - g)

PV(div2015-onwards) = $1.72 * (1 + 0.031) / (0.089 - 0.031)

Finally, let's calculate the total present value of the dividends:

PV(div) = PV(div2010-2014) + PV(div2015-onwards)

The price per share at the end of 2009 is equal to the total present value of dividends divided by the equity cost of capital:

Price per share = PV(div) / (1 + r)

Performing the calculations, we can determine the price per share at the end of 2009.

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In 2018, Kimberly-Clark reported inventory of $1.79 billion and annual sales of $18.486 billion. Assume 365 days per year and round your answer to one decimal place. What were the days of supply for Kimberly-Clark? days
Previous question

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The days of supply for Kimberly-Clark can be calculated using the formula: Days of Supply = (Inventory / Cost of Goods Sold) * Number of Days in a Year.

To calculate the days of supply for Kimberly-Clark, we need to divide the inventory by the cost of goods sold and then multiply the result by the number of days in a year. In this case, the inventory is given as $1.79 billion and the annual sales (cost of goods sold) is $18.486 billion. We can calculate the days of supply as follows:

Days of Supply = (Inventory / Cost of Goods Sold) * Number of Days in a Year

Days of Supply = ($1.79 billion / $18.486 billion) * 365

Days of Supply ≈ 35.1 days

Therefore, the days of supply for Kimberly-Clark is approximately 35.1 days. This means that based on their inventory and annual sales, Kimberly-Clark has enough inventory to cover approximately 35.1 days of sales. It is a measure used to assess the efficiency of inventory management and the ability of a company to meet customer demand without excessive inventory buildup or stockouts.

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Alpha Inc. has provided the following data concerning the last month’s manufacturing operations:
Purchase of raw materials $60,000
Indirect materials included
in manufacturing overhead $10,000
Direct Labor $150,000
Manufacturing overhead
applied to work-in-process $75,000
Under-applied overhead $6,000
Inventories Beginning Ending
Raw Materials $24,000 $36,000
Work-in-Process $109,200 $126,750
Finished Goods $67,000 $81,900
Prepare a Schedule of Cost of Goods Manufactured for the month.
Prepare a Schedule of Cost of Goods Sold for the month. Assume the under-applied overhead is closed to cost of goods sold.

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Schedule of Cost of Goods Manufactured:

Direct materials:
Beginning raw materials inventory $24,000
Add: Purchases of raw materials $60,000
Total raw materials available $84,000
Less: Ending raw materials inventory $36,000
Direct materials used in production $48,000

Direct labor $150,000
Manufacturing overhead applied to work-in-process $75,000
Total manufacturing costs incurred $273,000
Add: Beginning work-in-process inventory $109,200
Total cost of work-in-process $382,200
Less: Ending work-in-process inventory $126,750
Cost of goods manufactured $255,450

To calculate the Cost of Goods Manufactured, we need to consider the direct materials, direct labor, and manufacturing overhead costs incurred during the manufacturing process.

First, we calculate the direct materials used in production by taking the beginning raw materials inventory and adding the purchases of raw materials while subtracting the ending raw materials inventory.

Next, we include the direct labor cost of $150,000 and the manufacturing overhead applied to work-in-process of $75,000. This gives us the total manufacturing costs incurred.

To determine the cost of work-in-process, we add the beginning work-in-process inventory to the total manufacturing costs incurred and then subtract the ending work-in-process inventory.

Finally, the cost of goods manufactured is calculated as the difference between the cost of work-in-process and the ending work-in-process inventory.


The Cost of Goods Manufactured for the month is $255,450. This represents the total cost incurred by Alpha Inc. for manufacturing goods during the period, including direct materials, direct labor, and manufacturing overhead costs.

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how did education generally affect the use of electronic payments

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Education has played a significant role in the adoption and use of electronic payments. As people become more educated, they tend to be more open to new technologies and are more likely to adopt them in their daily lives.

In addition, education has enabled people to understand the benefits of electronic payments such as convenience, security, and speed. With the rise of e-commerce, it has become essential for people to have basic knowledge of electronic payments to conduct transactions online. Educational institutions have also played a role in promoting the use of electronic payments by incorporating payment systems into their operations, such as accepting electronic payments for tuition fees. Furthermore, financial literacy programs have been developed to educate people on electronic payments and how to use them safely and effectively. In summary, education has been a critical factor in the widespread adoption and use of electronic payments.

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Describe the European system of promotion and relegation as it relates to its professional sports system. Do you think a similar system should be implemented for the American professional sports leagues? Have there been any attempts to do so? Could such a system work? Why or why not? Identify the pros and cons of each position. Describe the legal considerations that would affect such a decision.

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The European system of promotion and relegation is a hierarchical structure for professional sports leagues where teams move up or down in leagues based on their performance. Such a system allows teams from lower leagues to be promoted to higher leagues and vice versa. In contrast, American professional sports leagues use a closed system that restricts teams from moving up or down. While implementing a promotion and relegation system for American professional sports leagues could introduce new opportunities for competition, such a system faces legal, financial, and cultural challenges.

The European promotion and relegation system is a hierarchy where teams move up or down in leagues based on their performance. A similar system in American professional sports leagues has not been implemented due to legal, financial, and cultural challenges. The European system allows for smaller teams to have a chance to compete at the highest level, while the American system protects teams from relegation and ensures financial stability for franchises. A promotion and relegation system could improve competition and give teams more incentive to succeed, but it could also lead to financial instability and a decrease in fan interest in teams that are no longer in the top league. The implementation of such a system in American professional sports leagues would require significant changes to league structure, ownership rules, and revenue sharing, among other factors. While it is an intriguing concept, it is unlikely that such a system will be implemented in the near future.

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calculate the dirarion of a $1,000, 3% bond with 4 years to maturity. Assume that all market interest rates are 2.5% and coupon payments are annual.
Calculate the expected price change in $s if interest rates drop to 2.4% using the duration approximation formula

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The expected price change in dollars if interest rates drop to 2.4% using the duration approximation formula is approximately $3.81.

To calculate the duration of a bond, we need to determine the present value of each cash flow and the respective time to maturity. Given that the bond has a face value of $1,000, a coupon rate of 3%, and a maturity of 4 years, we can calculate the annual coupon payment as $1,000 * 3% = $30.

Using the formula for the present value of a bond, we can determine the present value of the cash flows. Assuming a market interest rate of 2.5%, we have:

PV(coupon payments) = ($30 / (1 + 0.025)¹) + ($30 / (1 + 0.025)²) + ($30 / (1 + 0.025)³) + ($1,030 / (1 + 0.025)⁴)

Simplifying the above expression gives us:

PV(coupon payments) ≈ $29.27 + $28.57 + $27.88 + $942.69 = $1,028.41

Next, we calculate the present value of the bond's face value at maturity:

PV(face value) = $1,000 / (1 + 0.025)⁴ ≈ $909.77

Now we can calculate the duration using the formula:

Duration = [(PV(coupon payments) * t1) + (PV(face value) * t2)] / Bond Price

Where t1 represents the time to receive each cash flow (1, 2, 3, and 4 years), and t2 represents the time to maturity (4 years).

Duration = [($1,028.41 * 1) + ($909.77 * 4)] / $1,028.41 ≈ 3.735 years

Using the duration approximation formula, we can estimate the expected price change if interest rates drop to 2.4%. The formula is as follows:

Price Change ≈ -Duration * ΔInterest Rate * Bond Price

Where ΔInterest Rate is the change in interest rate.

ΔInterest Rate = 2.4% - 2.5% = -0.1%

Plugging in the values, we get:

Price Change ≈ -3.735 * (-0.1%) * $1,028.41 ≈ $3.81

Therefore, if interest rates drop to 2.4%, we can expect an approximate price increase of $3.81 for the $1,000, 3% bond with 4 years to maturity.

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_____ are large and highly automated warehouses designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible.
a.Open warehouses
b.Distribution centers
c.Loading docks
d.Shipping platforms
e.Product platforms

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b. Distribution centers are large and highly automated warehouses designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible.

These centers play a crucial role in the supply chain management of companies, serving as the central hub for storing, sorting, and distributing goods. They are equipped with advanced technology, such as conveyor systems, automated storage and retrieval systems (AS/RS), and inventory management software, to streamline operations and maximize efficiency. By optimizing inventory management and order fulfillment processes, distribution centers enable businesses to meet customer demands promptly and effectively.

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8) The advertisement campaign "Above the Influence" targets which age group? A) 5-11. B) 12-17. C) 18-25. D) 50-65.

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The advertisement campaign "Above the Influence" targets the age group B) 12-17. This campaign is designed to encourage young people to make positive choices and resist the pressures of drug use and other negative influences during their adolescent years.

This campaign is aimed at helping teenagers resist peer pressure and make positive decisions regarding their health and well-being. The campaign's messaging encourages teens to be their own person and make choices that align with their values and goals. The goal of the campaign is to empower teens to resist negative influences and stay "above the influence" of harmful behaviors such as drug and alcohol use.

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How does crowdsourcing enable managers to expand their talent pool? o Amateurs work together in an online environment to solve a problem. o It is routinely used during the hiring process. o Experts in the field provide their insight into the problem at hand. o They hire experts in several fields to help run the company.

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Crowdsourcing enables managers to expand their talent pool by allowing amateurs and experts to collaborate online to solve problems.

Crowdsourcing involves harnessing the collective intelligence and skills of a diverse group of individuals, both amateurs and experts, through online platforms. By leveraging the power of crowds, managers can tap into a wider range of perspectives, knowledge, and expertise beyond their immediate team or organization. Amateurs and experts can contribute their insights, ideas, and solutions to address specific challenges or projects. This expands the talent pool available to managers, providing access to a diverse range of skills and perspectives to tackle complex problems and drive innovation.

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acceptable email marketing practices under the can spam law include

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The CAN-SPAM Act is a law that sets the rules for commercial email, establishes requirements for commercial messages, and gives recipients the right to opt-out of receiving them.

Acceptable email marketing practices under this law include ensuring that your subject line accurately reflects the content of the email, identifying the message as an advertisement, providing a clear and conspicuous opt-out mechanism, including a physical address in the email, and honoring opt-out requests promptly. Additionally, businesses should avoid using misleading header information, deceptive subject lines, and sending emails to recipients who have not given permission to receive them. It is important to adhere to these guidelines to maintain good email marketing practices, avoid legal penalties, and build trust with customers.

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single-period problem is to answer the question of how much to order when an item is purchased only one time and it is expected that it will be used and then not reordered. true or false

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True. The single-period problem is a common inventory management problem where a company must decide how much to order of a product that will not be restocked once it is sold.

The decision is typically based on factors such as the product's demand, its price, and the cost of holding excess inventory. Since the product is not expected to be reordered, the decision must be made carefully to ensure that enough stock is ordered to meet demand but not so much that the company is left with excess inventory. Accurately predicting demand is key to successfully managing the single-period problem.

To solve this problem, one must consider factors like demand, holding cost, and stockout cost to find the optimal order quantity that balances risk and cost.

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Maritime Law/ Shipping.
Discuss both exclusive and mandatory effect of the legal regimes

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Exclusive effect of legal regimesThe exclusive effect of legal regimes in Maritime law is to dictate the legal guidelines that should be followed by those involved in the shipping industry. These legal regimes are designed to ensure that the rights and interests of all parties involved in maritime activities are protected and that the shipping industry operates efficiently and effectively. In this regard, the legal regimes create a legal framework within which all parties involved in maritime activities must operate.

Mandatory effect of legal regimesThe mandatory effect of legal regimes in Maritime law is to ensure that the legal guidelines are strictly followed by all parties involved in the shipping industry. These legal regimes set out the mandatory rules that must be followed, regardless of any contractual agreements between parties. The mandatory effect of legal regimes is crucial in maintaining the integrity of the shipping industry and ensuring that all parties operate within the confines of the law.


The legal regimes in Maritime law have both an exclusive and mandatory effect. The exclusive effect refers to the legal guidelines that must be followed by those involved in the shipping industry. These legal regimes ensure that the rights and interests of all parties involved in maritime activities are protected, and that the shipping industry operates efficiently and effectively.

The mandatory effect, on the other hand, refers to the strict adherence to legal guidelines. Regardless of any contractual agreements between parties, the mandatory rules must be followed by all parties involved in the shipping industry. This is crucial in maintaining the integrity of the shipping industry and ensuring that all parties operate within the confines of the law.

Maritime law is a complex area of law that regulates activities that take place on the sea. It is a combination of international and domestic laws, which set out the rules for the transportation of goods and people by sea. The legal regimes in Maritime law play a crucial role in ensuring that the shipping industry operates efficiently and effectively. These legal regimes create a legal framework within which all parties involved in maritime activities must operate.

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all of the following are auction markets except a.nyse amex equities
b.nasdaq omx phlx c.nyse d.nasdaq global market

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All of the options listed (NYSE Amex Equities, NASDAQ OMX PHLX, NYSE, and NASDAQ Global Market) are auction markets. Here all options are the correct answer.

A. NYSE Amex Equities: This is an auction market. It is a stock exchange that operates as an auction market for equities. Buyers and sellers submit their bids and offers, and transactions are executed through an auction process.

B. NASDAQ OMX PHLX: This is also an auction market. It is a stock exchange that specializes in options trading. Traders submit their bids and offer for options contracts, and the exchange facilitates the auction process to match buyers and sellers.

C. NYSE: The New York Stock Exchange (NYSE) is an auction market. It is one of the largest and oldest stock exchanges in the world. Buyers and sellers submit their orders, and the exchange matches them through an auction process to determine the transaction price.

D. NASDAQ Global Market: This is another auction market. NASDAQ Global Market is an electronic stock exchange where buyers and sellers submit their orders, and transactions are executed through an auction process.

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An analyst estimated that stock A will have an expected return of 17.7% next year. He also estimated that the standard deviation of this stock will be 19.3% next year. Assuming that the risk-free rate is 2.8%, the Sharpe Ratio of stock A must be __

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The Sharpe Ratio of stock A, assuming risk free rate of 2.8% will be 0.772.

The Sharpe Ratio is a measure of the risk-adjusted return of an investment. It is calculated by subtracting the risk-free rate from the expected return of the investment and then dividing it by the standard deviation of the investment. To calculate the Sharpe Ratio of stock A, we can use the following formula:

Sharpe Ratio = (Expected Return - Risk-Free Rate) / Standard Deviation

Given the information provided:

Expected Return = 17.7%

Risk-Free Rate = 2.8%

Standard Deviation = 19.3%

Substituting these values into the formula, we get:

Sharpe Ratio = (0.177 - 0.028) / 0.193

Sharpe Ratio = 0.149 / 0.193

Sharpe Ratio ≈ 0.772

Therefore, the Sharpe Ratio of stock A is approximately 0.772.

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Stores that provide moderate sales assistance because they carry shopping goods about whichcustomers need a moderate level of information are called ________ retailers.A) self-serviceB) full-serviceC) off-priceD) limited-serviceE) convenience

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Option (d), The stores that provide moderate sales assistance, because they carry shopping goods about which customers need a moderate level of information, are called limited-service retailers.

Limited-service retailers are a type of retail store that offers a moderate level of sales assistance to customers. They usually carry shopping goods that are not too complex and do not require extensive knowledge or expertise to purchase. Limited-service retailers are different from full-service retailers, which offer a high level of sales assistance and personalized service, and self-service retailers, which require customers to find and purchase items on their own without any sales assistance.

Limited-service retailers typically provide some level of assistance to customers, such as answering questions about product features, providing basic recommendations, or assisting with checkout. They may also offer some basic services, such as gift wrapping or product assembly. However, they do not provide the same level of in-depth expertise and personalized service as full-service retailers.

Examples of limited-service retailers include discount stores, department stores, and some specialty stores. These retailers typically offer moderate sales assistance because their customers may need some information about the products they are purchasing, but do not require extensive assistance or guidance.

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identify which principle applies to each scenario and place the appropriate terms in the corresponding spaces.
a. after spending hours researching his choices, mark decides on a laptop that will cost him $799. as he walks into his local retailer, a salesman presents him a laptop with marginally better features at the same price. however, mark would have to do further research to verify that the new alternative is in fact better. as a result, he decides that the laptop he previously decided on is good enough and buys it. Mark's decision is an example of__ a) bounded rationality. b) fairness. c) risk aversion

Answers

Mark's decision is an example of a) bounded rationality.

Bounded rationality refers to the idea that individuals make decisions based on limited information and cognitive abilities, rather than being fully rational and able to consider all possible alternatives. In this scenario, Mark has already spent a significant amount of time researching his choices and has made a decision based on the information he has gathered so far. When presented with a potentially better alternative, he is hesitant to change his decision without further research, as he is limited by his cognitive abilities to fully consider all possible alternatives.

Therefore, Mark's decision is an example of bounded rationality.

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Companies may intentionally understate earnings when income is high to create a reserve of "earnings" that may be used in future years to increase earnings. This practice is known as:
A) performance-based management.
B) earnings management.
C) asset management.
D) expense management

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The practice of intentionally understating earnings when income is high to create a reserve of "earnings" for future years is known as earnings management.

This practice allows companies to manipulate their financial statements to meet or exceed analysts' earnings expectations and maintain a positive image in the market. However, such practices can be illegal and unethical if they involve fraudulent activities. Companies must report their financial performance accurately and transparently to maintain the trust and confidence of stakeholders.Earnings management can also affect the company's long-term financial stability if it leads to misleading financial reports and risky business decisions.

Although it may provide short-term benefits, earnings management can lead to long-term consequences and is generally considered unethical.

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currently, the vacation home market is dominated by airbnb. among the people looking for vacation rentals, is a particular limited group of people interested in renting farms. therefore the market segment that is focused on farm vacation rentals may be considered as a. a product mix b. a niche market c. a trademark d. an ethnocentric group of people

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The market segment focused on farm vacation rentals may be considered as a niche market.

A niche market refers to a specific subset of a larger market with distinct needs, preferences, and characteristics. In this case, the segment of people interested in renting farms for vacation purposes represents a specialized and limited group within the broader vacation rental market. While the vacation home market is dominated by Airbnb, the subset of individuals seeking farm vacation rentals forms a distinct market segment with unique preferences for rural, farm-based experiences. This niche market caters to those who are specifically interested in the ambiance, activities, and lifestyle associated with farm stays. By recognizing and targeting this niche market, businesses can tailor their offerings and marketing strategies to meet the specific needs and desires of this particular group, distinguishing themselves from the broader vacation rental market. This focused approach allows businesses to better serve the specialized preferences of the niche market and potentially gain a competitive advantage.

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Sunset Corporation will pay a dividend of $4.04 per share next year. The company pledges to increase its dividend by 5% per year, indefinitely. If you require a return of 8% on your investment, how much will you pay for the company’s stock today? Round your answer to two decimal places

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"To calculate the stock price for Sunset Corporation, we will use the dividend discount model (DDM)." The DDM is given by the formula:
Stock price = Dividend / (Required return - Dividend growth rate)

First, let's identify the given values:
- Dividend (D1) = $4.04 per share
- Dividend growth rate (g) = 5% = 0.05
- Required return (r) = 8% = 0.08
Now, plug these values into the DDM formula:
Stock price = $4.04 / (0.08 - 0.05)
Stock price = $4.04 / 0.03
Stock price = $134.67 (rounded to two decimal places)
So, if you require a return of 8% on your investment, you will pay $134.67 for the company's stock today.

The stock price refers to the current market value of a single share of a company's stock. It represents the price at which the stock is currently trading on the stock exchange.

The stock price is influenced by various factors such as company performance, market conditions, investor sentiment, and supply and demand dynamics.

To obtain the current stock price of Sunset Corporation, you would need to check a reliable financial source, such as a financial news website or a stock market platform, where you can access real-time stock quotes. These sources provide up-to-date information on the stock price of companies.

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Which of the following is the appropriate general journal entry to record the declaration of cash dividends?

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The appropriate general journal entry to record the declaration of cash dividends involves two accounts: Retained Earnings and Dividends Payable. When a company declares cash dividends, it reduces its retained earnings and creates a liability for the amount of dividends to be paid.

The appropriate general journal entry to record the declaration of cash dividends involves several accounts. The first account to be debited is the Retained Earnings account for the total amount of the dividend declared. The second account to be credited is the Dividends Payable account for the same amount as the Retained Earnings debit. This entry informs the company's stakeholders that the company has authorized the payment of dividends to its shareholders.

It also reduces the company's retained earnings and creates a liability to pay the dividends to the shareholders. This liability will be eliminated once the company pays the dividends to the shareholders. The entry must be made on the date of the declaration and should be accompanied by a memorandum entry to keep track of the payment date and the shareholders' names and amounts. In summary, the general journal entry to record the declaration of cash dividends involves debiting Retained Earnings and crediting Dividends Payable for the total amount of the dividend declared.

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division x makes a part that it sells to customers outside of the company. data concerning this part appear below: selling price to outside customers $ 50 variable cost per unit $ 30 total fixed costs $ 400,000 capacity in units 25,000 division y of the same company would like to use the part manufactured by division x in one of its products. division y currently purchases a similar part made by an outside company for $49 per unit and would substitute the part made by division x. division y requires 5,000 units of the part each period. division x has sufficient excess capacity to handle all of division y's needs without any increase in fixed costs and without cutting into outside sales. what is the lowest transfer price division x will accept? multiple choice $50 $49 $46 $30 $20

Answers

To determine the lowest transfer price that Division X will accept for the part to be used by Division Y, we need to consider the relevant costs and pricing factors.

The relevant cost for Division X is the variable cost per unit, which is $30. This cost represents the additional cost incurred by Division X to produce one unit of the part.

Since Division X has excess capacity and can handle Division Y's needs without any increase in fixed costs, it does not need to consider the fixed costs in setting the transfer price.

The transfer price should be set at a level that is at least equal to the variable cost per unit, to ensure that Division X covers its direct costs associated with producing the part.

Therefore, the lowest transfer price Division X will accept is the variable cost per unit, which is $30.

In summary, the lowest transfer price that Division X will accept for the part is $30, which covers its variable cost per unit and ensures that it does not incur any losses by supplying the part to Division Y.

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During the early 1980s, prices were increasing by approximately 2,000% a year in Argentina. This is an example of A) hyperinflation.
B) monetary inflation. C) an expectations inflation. D) moderate inflation.

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The correct option is A. Hyperinflation refers to an extreme and rapid increase in prices within an economy. It is characterized by a very high inflation rate, typically exceeding 50% per month. In the case of Argentina during the early 1980s, with prices increasing by approximately 2,000% a year, it clearly indicates a severe case of hyperinflation.

Hyperinflation often occurs due to factors such as excessive money supply growth, loss of confidence in the currency, and fiscal imbalances. It has severe negative consequences on an economy, including the erosion of purchasing power, economic instability, and social unrest.

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closeout activities are typically among the highest priority activities in a project. group of answer choices true false

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True. Closeout activities involve finalizing and wrapping up all aspects of a project, including documentation, financials, and stakeholder communication. These activities are crucial to ensure the project is complete and successful.

Closeout activities are typically among the highest priority activities in a project. Closeout activities involve finalizing and wrapping up all aspects of the project to ensure its successful completion. This includes activities such as completing project documentation, conducting final financial assessments, conducting project evaluations, and communicating project outcomes to stakeholders.

By prioritizing closeout activities, project teams can ensure that all loose ends are tied up, lessons learned are captured, and deliverables are properly handed over. This allows for a smooth transition out of the project and provides valuable information for future projects. Neglecting closeout activities can lead to incomplete records, missed opportunities for improvement, and potential risks in future projects.

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s the number of pics per order picker decreases on a given tour, his/her total time out______and the time per pick_________

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As the number of picks per order picker decreases on a given tour, his/her total time out in the warehouse may decrease as well.

This is because with fewer picks to make, the order picker may be able to move more quickly and efficiently through the warehouse, completing their tasks in less time. However, the time per pick may actually increase. This is because with fewer picks to make, the order picker may have more time to carefully select each item and ensure that they are choosing the correct item for each order. Additionally, if there are fewer picks to make, the order picker may have to travel longer distances between picks, which could increase the time per pick. Ultimately, the impact on time out and time per pick will depend on a variety of factors, including the specific warehouse layout, the number and types of items being picked, and the individual order picker's speed and efficiency.

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A disruptive market change due to freer international trade, just like with new technology, creates tradeoffs in society. Select the two correct examples of this below. a)imports and exports are disrupted by a hurricane on the East Coast b)new jobs are created in an innovative product niche, whereas jobs are lost in outdated areas c)jobs are lost due to US companies relocating abroad to lower costs of production d)foreign companies are dumping low-priced goods on the US markets

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The two correct examples of tradeoffs resulting from a disruptive market change due to freer international trade are: b) new jobs being created in an innovative product niche while jobs are lost in outdated areas, and c) jobs being lost due to US companies relocating abroad to lower production costs.

Option b) new jobs being created in an innovative product niche while jobs are lost in outdated areas is a tradeoff that occurs with disruptive market changes. When new technologies or innovative products emerge, they can create opportunities for employment in new industries or sectors. However, this often comes at the expense of jobs in traditional or outdated areas that may become less relevant or competitive.

Option c) jobs being lost due to US companies relocating abroad to lower production costs is another tradeoff resulting from freer international trade. Globalization and increased trade openness can lead to companies seeking cost advantages by moving their production facilities to countries with lower labor costs or favorable business environments. While this can benefit the companies in terms of cost savings, it can lead to job losses in the home country as manufacturing or service activities are shifted overseas.

Therefore, options b) and c) are the correct examples as they illustrate the tradeoffs that can arise from disruptive market changes and increased international trade.

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FILL IN THE BLANK. Ease of formation, flexibility and diversity of management are advantages of the _____ form of business ownership.
a. partnership
b. joint venture
c. cooperative
d. conglomerate
e. corporation

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The answer is: a. partnership. Ease of formation, flexibility, and diversity of management are advantages associated with the partnership form of business ownership.

Partnerships are relatively easy to establish and require less formalities compared to other forms such as corporations. Partnerships also offer flexibility in terms of decision-making and management structure, allowing partners to share responsibilities and expertise. Additionally, partnerships can benefit from diverse perspectives and skills brought by multiple partners, contributing to the overall success of the business.

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