The audit trinity refers to three significant components of audit systems: auditing standards, audit procedures, and audit documentation. It is essential that all three elements work in harmony to ensure the most effective, accurate, and comprehensive auditing process. Auditing standards are the guidelines or rules that an auditor adheres to when conducting an audit.
They can be either mandated by law or set forth by professional organizations such as the International Federation of Accountants (IFAC) or the American Institute of Certified Public Accountants (AICPA). Audit procedures refer to the specific steps an auditor takes to collect and evaluate evidence to determine whether a company's financial statements are accurate. Procedures may include examining documents, interviewing staff, and observing processes and controls. Finally, audit documentation refers to the records and other evidence gathered during the audit process. The purpose of audit documentation is to provide a clear record of the audit's findings, which can then be used to prepare the audit report.
Internal audit is a company's internal audit function, which is responsible for reviewing and evaluating the organization's operations, internal controls, and risk management processes.
External audit is an independent, third-party audit that is conducted by a professional auditing firm. The purpose of external audits is to provide an objective assessment of the financial statements and related disclosures.
Audit committees are committees that oversee the auditing process in a company. The audit committee is responsible for hiring external auditors, reviewing audit findings, and monitoring the internal audit function. The audit committee is composed of independent directors who are not involved in the day-to-day operations of the company.
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In 1996 dairy farmers, hurt by a decade of low milk prices, began reducing their herds. Subsequently Kenneth Hein, a Wisconsin farmer, said he was getting $16 per 100 pounds of milk, rather than $12, which he had gotten earlier.
a.Why did the price increase? Show in a graph.
b.Dairy cattle are often fed corn. When Hein got $16 per 100 pounds of milk, he paid $5 a bushel for corn; but when he got $12 per 100 pounds of milk, he paid $2.50 a bushel for corn. Does this mean that Hein made less money when the price of milk was $16 than when it was $12?
In 1996, dairy farmers reduced their herds due to a decade of low milk prices. Kenneth Hein, a Wisconsin farmer, reported that he received $16 per 100 pounds of milk rather than $12, which he had received earlier. Dairy cattle are often fed corn, and Hein paid $5 a bushel for corn when he received $16 per 100 pounds of milk.
When he received $12 per 100 pounds of milk, he paid $2.50 a bushel for corn. To determine if Hein made less money when the milk price was $16 than when it was $12, we must first determine how many bushels of corn Hein fed to his cows when the milk price was $16 and when it was $12.Let X be the number of bushels of corn Hein fed to his cows when the milk price was $16, and Y be the number of bushels of corn Hein fed to his cows when the milk price was $12.According to the statement:When Hein got $16 per 100 pounds of milk, he paid $5 a bushel for cornTherefore, X * $5 = $16Hein spent 80 bushels of corn when he received $16 per 100 pounds of milk.When Hein received $12 per 100 pounds of milk, he paid $2.50 a bushel for cornTherefore, Y * $2.50 = $12Hein spent 4.8 bushels of corn when he received $12 per 100 pounds of milk.Now, let's compare the money Hein earned when the milk price was $16 and when it was $12.During $16 per 100 pounds of milk, he earned:$16 per 100 pounds * 80 pounds = $1,280He spent 80 bushels * $5 per bushel = $400 on corn.Profit = $1280 - $400 = $880When he received $12 per 100 pounds of milk, he earned:$12 per 100 pounds * 80 pounds = $960He spent 4.8 bushels * $2.50 per bushel = $12 on corn.Profit = $960 - $12 = $948As a result, we can see that Hein earned more money when he received $12 per 100 pounds of milk than when he received $16 per 100 pounds of milk. Therefore, we can conclude that when the price of milk was $16, Hein made less money than when it was $12.For such more questions on dairy farmer
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How to improve Spotify when it comes to payouts to artists? What
policy recommendations could be applied?
To improve Spotify when it comes to payouts to artists, policies like Increase Revenue Share, Transparency and Accountability, Modify Pro Rata Distribution, Address Market Concentration, Collective Bargaining and Fair Contracts, Legislative Reforms.
Improving Spotify's payouts to artists involves considering several policy recommendations that can be implemented. Here are some potential strategies:
1. Increase Revenue Share: Spotify could increase the percentage of revenue allocated to artists. Currently, artists receive a fraction of a penny per stream. By raising this rate, more revenue would flow directly to the artists, allowing them to earn a fairer share of the platform's profits.
2. Transparency and Accountability: Spotify could enhance transparency in royalty calculations and reporting. Artists should have access to clear and detailed information about their streams, royalties earned, and how the payment structure works. Transparent reporting would enable artists to better understand their earnings and identify any discrepancies.
3. Modify Pro Rata Distribution: Spotify currently uses a pro rata distribution model, where revenue is distributed based on the total number of streams. However, this model can disadvantage smaller or niche artists whose streams generate less revenue. Implementing a user-centric payment system could allocate royalties based on an individual user's listening habits, ensuring that artists receive a more proportional share of the revenue generated by their specific listeners.
4. Address Market Concentration: The music streaming industry is dominated by a few major players, including Spotify. Addressing market concentration through regulatory measures or anti-trust actions can help create a more competitive environment, potentially leading to better royalty rates for artists.
5. Collective Bargaining and Fair Contracts: Artists often face challenges in negotiating fair deals with streaming platforms individually. Supporting collective bargaining efforts and advocating for fair contract terms can empower artists to negotiate better payment terms and ensure their rights are protected.
6. Legislative Reforms: Governments can play a role in shaping policies to benefit artists. They can consider updating copyright laws and regulations to ensure that artists receive appropriate compensation for their work in the digital era. Governments can also establish artist-friendly regulations related to streaming platforms' licensing agreements, royalty rates, and revenue sharing.
It is important to note that improving artist payouts is a complex issue with various stakeholders involved. Achieving meaningful change will likely require collaboration among artists, streaming platforms, record labels, policymakers, and industry organizations to establish fair and sustainable compensation models for artists in the streaming era.
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1. what is the strategic issue(s) that mcdonald's need to address?
One of the strategic issues that McDonald's needs to address is the increasing demand for healthier food options. With the growing concern for health and wellness, consumers are becoming more conscious about the food they eat.
This poses a challenge for McDonald's as their menu primarily consists of fast food items that are high in calories, fat, and sodium. The company needs to introduce healthier food options such as salads, smoothies, and grilled items to cater to this trend.
Additionally, McDonald's needs to address the increasing concern for sustainability and environmental responsibility. The company should introduce eco-friendly packaging and reduce waste to attract environmentally conscious consumers. By addressing these strategic issues, McDonald's can maintain its market position and continue to grow.
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Fun land incorporation is a retailer of toys and games. FunLand's beginning inventory is $192000 and its purchases during the year are 600000. Its ending inventory is 72000. Make the closing entries necessary given that fund land uses periodically inventory system? Write entries?
As a retailer using the periodic inventory system, FunLand Incorporation would need to make closing entries to account for its beginning inventory, purchases, and ending inventory. The closing entries will adjust the inventory accounts and transfer the cost of goods sold to the income statement. Here are the closing entries:
Close the Purchases Account:
Debit: Purchases Account
Credit: Inventory Account
This entry transfers the total purchases made during the year from the Purchases Account to the Inventory Account, reflecting the increase in inventory.
Close the Beginning Inventory Account:
Debit: Inventory Account
Credit: Opening Inventory Account
This entry reduces the value of the beginning inventory by transferring it to the Inventory Account.
Close the Ending Inventory Account:
Debit: Closing Inventory Account
Credit: Inventory Account
This entry reduces the value of the ending inventory by transferring it to the Closing Inventory Account.
Close the Cost of Goods Sold Account:
Debit: Cost of Goods Sold Account
Credit: Inventory Account
This entry transfers the cost of goods sold during the year from the Inventory Account to the Cost of Goods Sold Account, reflecting the expense on the income statement.
Close the Closing Inventory Account:
Debit: Inventory Account
Credit: Closing Inventory Account
This entry transfers the value of the closing inventory back to the Inventory Account, ready for the next accounting period.
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9. Problems and Applications Q9 Two drivers--Charles and Dina-each drive up to a gas station. Before looking at the price, each places an order. Charles says, "I'd like 10 gallons of gas." Dina says,
Dina's demand is inelastic.
Charles's demand is perfectly elastic.
Dina's demand is inelastic because regardless of the price, she demands a fixed dollar amount of gas ($10 worth). The quantity demanded does not vary with price changes, indicating an inelastic demand.
Charles's demand is perfectly elastic because he demands a fixed quantity of gas (10 gallons) regardless of the price. If the price changes, Charles's demand will drop to zero, indicating a perfectly elastic demand.
To determine elasticity, we consider how changes in price affect the quantity demanded. In the case of Dina, her demand is inelastic because the quantity demanded remains constant regardless of price. Charles's demand is perfectly elastic because any change in price leads to a complete change in quantity demanded.
The complete question is
9. Problems and Applications Q9 Two drivers--Charles and Dina-each drive up to a gas station. Before looking at the price, each places an order. Charles says, "I'd like 10 gallons of gas." Dina says, "I'd like $10 worth of gas." Which of the following statements is correct? Check all that apply. Dina's demand is unit elastic. Dina's demand is inelastic. Charles's demand is perfectly inelastic. Charles's demand is perfectly elastic.
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Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options:
1. Pay $35,000 for the car today.
2. Pay $4,000 at the end of each quarter for three years.
Assuming Denzel uses a discount rate of 12% (or 3% quarterly), calculate the present value. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places. )
The present value (PV) of the second option is $392.74. To sum up: Option 1: PV = $35,000Option 2: PV = $392.74.
Question: Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options:
1. Pay $35,000 for the car today.
2. Pay $4,000 at the end of each quarter for three years.
Assuming Denzel uses a discount rate of 12% (or 3% quarterly), calculate the present value. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided.
Round your answers to 2 decimal places. )Solution: Present Value (PV)The present value (PV) of an investment is the amount that must be invested now to achieve a specific future value (FV) of that investment. The PV of money represents its current worth.
Because the money is worth more in the future due to its earning capacity, the future value of money is larger than its present value. To calculate the present value (PV) of the second option, which is paying $4,000 at the end of each quarter for three years, use the formula:
PMT × [PVAn, i%] + FVn × [PV1, i%] = PVMultiply $4,000 by the present value of the annuity factor for n = 12, i = 3%, which is 9.8186.0.04 × [9.8186] = $392.744Then multiply the future value of the annuity, which is $0, by the present value of the lump sum factor for n = 12, i = 3%, which is 0.71299.0 × [0.71299] = 0
Therefore, the present value (PV) of the second option is $392.74. To sum up: Option 1: PV = $35,000Option 2: PV = $392.74.
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Alyanna Company operates a customer loyalty program. The entity grants program members loyalty points when they spend a specified amount on purchases.
Program members can redeem the points for further purchases. The points have no expiry date.
During 2020, the customer earned 60,000 points. Management expects that 100% of these points will be redeemed. The stand alone selling price of each loyalty point is P20.
The sales during 2020 amounted to P6,800,000 based on stand alone selling price.
On December 31, 2020, 28,800 points have been redeemed in exchange for purchases.
In 2021, the management revised expectations and now expects 90% of the points to be redeemed.
In 2021, the entity redeemed 9,000 points.
1. What amount of the transaction price should be allocated to the points?
a. 1,800,000 b. 1,200,000 c. 1,020,000 d. 0
2. What amount should be reported as revenue earned from loyalty points for 2020?
a. 576,000 b. 489,600 c. 510,000 d. 0
3. What amount should be reported as revenue earned from loyalty points for 2021?
a. 224,400 b. 714,000 c. 170,000 d. 0
The correct answer of 1, 2 & 3 is option B, A & C.
1. The amount of the transaction price that should be allocated to the points can be calculated by multiplying the number of points earned by the stand-alone selling price per point.
In this case, the customer earned 60,000 points, and the stand-alone selling price per point is P20.
Therefore, the amount to be allocated to the points is
60,000 points * P20/point = P1,200,000.
Therefore, the correct answer is b. P1,200,000.
2. The revenue earned from loyalty points for 2020 should be based on the points redeemed during that year.
In this case, 28,800 points were redeemed in 2020.
Since management expects 100% of the points to be redeemed, the revenue earned from these redeemed points can be calculated by multiplying the number of redeemed points by the stand-alone selling price per point.
Therefore, the revenue earned from loyalty points for 2020 is
28,800 points * P20/point = P576,000.
Therefore, the correct answer is a. P576,000.
3. In 2021, the management revised their expectations and now expects 90% of the points to be redeemed.
In this year, 9,000 points were redeemed.
Using the same calculation as before, the revenue earned from loyalty points for 2021 is
9,000 points * P20/point = P180,000.
Therefore, the correct answer is c. P180,000.
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On July 1, 2022, Sandhill Co. pays $22,000 to Cullumber Company for a 2-year insurance contract. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Cullumber Company. Cullumber uses the accounts Unearned Service Revenue and Service Revenue. (Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter for the amounts.
The journal entry on July 1, 2022, records the receipt of cash for the 2-year insurance contract, while the adjusting entry on December 31, 2022, recognizes the portion of the contract that has been earned and adjusts the revenue accordingly.
On July 1, 2022, the journal entry for Cullumber Company would be as follows:
Date: July 1, 2022
Account Debit ($) Credit ($)
Cash 22,000
Unearned Service Revenue 22,000
This journal entry records the receipt of $22,000 in cash from Sandhill Co. for the 2-year insurance contract. The amount received is considered unearned revenue at this point because the services (insurance coverage) have not yet been provided.
On December 31, 2022 (adjusting entry), the journal entry for Cullumber Company would be as follows:
Date: December 31, 2022
Account Debit ($) Credit ($)
Unearned Service Revenue 2,750
Service Revenue 2,750
This adjusting entry reflects the portion of the insurance contract that has been earned during the fiscal year ending December 31, 2022. The $2,750 represents the earned portion of the contract based on the passage of time (6 months out of the 24-month contract). The entry reduces the unearned service revenue account and recognizes the corresponding amount as service revenue.
In conclusion, the journal entry on July 1, 2022, records the receipt of cash for the 2-year insurance contract, while the adjusting entry on December 31, 2022, recognizes the portion of the contract that has been earned and adjusts the revenue accordingly.
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Suppose that, for a given economy, the IS curve is such that it includes the consumption multiplier ( C₁ =acY₁ + x(Yt-Y)). Investment, government expenses, exports and imports behave as in the standard IS curve. If consumption's elasticity to short-run output is equal to 1/2 (meaning that x = 0.5), and there is aggregate demand shock that increases exports der by 5%:
O Short-run output decreases by 5%.
O There is not enough data to answer.
O Short-run output decreases by 20%.
O Short-run output increases by 5%.
O Short-run output increases by 10%.
O Short-run output increases by 5%
An increase in exports by 5% would lead to an increase in short-run output. The consumption multiplier suggests that for every 1% increase in output (Y), consumption (C) would increase by 0.5%. Therefore, with a 5% increase in exports, short-run output would increase by 10%. Hence, option D is the right answer.
Given that consumption's elasticity to short-run output is equal to 1/2 (implying x=0.5), and there is an aggregate demand shock that increases exports der by 5%, short-run output will increase by 5%. The IS curve represents the relationship between short-run interest rates and short-run output levels for an economy. The equation of the IS curve is Y = C + I + G + NX where Y represents output, C represents consumption, I represents investment, G represents government spending, and NX represents net exports. Option (D) is the correct answer.
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A company buys an oil rig for $1,000,000 on January 1, 2020. The life of the rig is 10 years and the expected cost to dismantle the rig at the end of 10 years is $200,000 (present value at 10% is $77,110). The appropriate interest rate for the company is 10%. What expenses should be recorded for 2020 as a result of these events? A. Depreciation expense of $120,000 B. Depreciation expense of $100,000 and interest expense of $20,000 C. Depreciation expense of $107,711 and interest expense of $7,711 D. Depreciation expense of $120,000 and interest expense of $7,711
The total expense that should be recorded for 2020 is Depreciation expense of $120,000 and interest expense of $7,711
So, the answer is D.
The expenses that should be recorded for 2020 as a result of these events are Depreciation expense of $120,000 and interest expense of $7,711. Depreciation expense:
The oil rig has a useful life of ten years, therefore, the depreciation expense is calculated by dividing the cost of the rig by its useful life:
$1,000,000/10 = $100,000 per year.
However, the rig is purchased on January 1, therefore only 1/12th of the annual depreciation is to be charged in the year of purchase.
Therefore, depreciation expense for 2020 is $100,000/12 = $8,333
Interest expense: The company has purchased the rig by borrowing $1,000,000 from some lender. The company will be charged an interest rate of 10% per annum on the loan.
Since the rig is purchased on January 1, the company will have the use of the $1,000,000 for the full year of 2020.
Therefore, the interest expense for 2020 is: 10% × $1,000,000 = $100,000.
However, the company has to pay interest on the loan only after one year has passed since the date of loan.
Therefore, the amount that is due for interest in 2020 is $100,000/12 = $8,333.
The total expense that should be recorded for 2020 as a result of these events is therefore, $8,333 + $120,000 = $128,333
Therefore, the correct option is D. Depreciation expense of $120,000 and interest expense of $7,711.
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what are the phases of alliance management? multiple select question. strategic network manipulation post-formation alliance management partner selection and alliance formation tacit and explicit knowledge collaboration alliance design and governance
The phases of alliance management include partner selection and alliance formation, tacit and explicit knowledge collaboration, alliance design and governance, and post-formation alliance management.
1. Partner selection and alliance formation: This phase involves identifying potential partners and evaluating their compatibility, capabilities, and strategic fit with the organization. It includes establishing the goals and objectives of the alliance and formalizing the partnership agreement.
2. Tacit and explicit knowledge collaboration: In this phase, partners share their knowledge and expertise to achieve mutual benefits. It involves exchanging information, best practices, and resources, both in explicit form (documented knowledge) and tacit form (personal expertise).
3. Alliance design and governance: This phase focuses on establishing effective governance structures and decision-making processes within the alliance. It involves defining roles, responsibilities, and rules for managing the partnership and resolving conflicts.
4. Post-formation alliance management: This phase involves ongoing monitoring, evaluation, and adjustment of the alliance to ensure its effectiveness and value creation. It includes performance measurement, relationship maintenance, and adapting the alliance to changing circumstances.
In conclusion, the phases of alliance management include partner selection and alliance formation, tacit and explicit knowledge collaboration, alliance design and governance, and post-formation alliance management.
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Most project life cycles share the following characteristics:
A. cost and staffing levels are low at the start, higher at the end, and drop rapidly as the project nears an end.
B. cost levels are low at the start, higher at the end, and drop rapidly as the project nears an end, but staffing levels remain constant.
C. staffing levels are low at the start, higher at the end, and drop rapidly as the project nears an end, but costs stay constant.
D. cost and staffing levels are high right from and only drop as the project nears an end.
E. cost and staffing levels are low at the start, higher at the end, and slowly level off as the project nears an end.
Most project life cycles share the following characteristics: cost and staffing levels are low at the start, higher at the end, and slowly level off as the project nears an end. The correct option is E.
Project life cycle is a sequence of stages that a project goes through from initiation to closure. It is the process of creating a product, from conception to delivery. The life cycle provides a structure for managing the project and serves as a roadmap for project teams to follow. Project life cycle characteristics: Project life cycles are broken into phases and have the following characteristics: Phases are divided into smaller units of work. Stakeholders approve the work in each phase before moving to the next one. Each phase has its own deliverables that define what work must be done. Project work is well defined and controlled. Only authorized work is allowed to be done. The quality of work is verified in each phase. The following characteristics are common to most project life cycles: Cost and staffing levels are low at the start, higher at the end, and slowly level off as the project nears an end. Cost and staffing levels are higher during the execution phase because this is when most of the work is done. Staffing levels drop off rapidly at the end of the project because fewer people are needed to wrap up the project.
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Most project life cycles share the following characteristics: cost and staffing levels are low at the start, higher at the end, and slowly level off as the project nears an end. The correct option is E.
The project life cycle is a sequence of phases that a project undergoes from initiation to closure. The project life cycle is a collection of processes that have been arranged to achieve a particular project goal. The life cycle of a project is determined by the product life cycle of the project's product. It can be broken down into stages, each of which corresponds to a stage in the product life cycle.
Most project life cycles share the following characteristics:
Cost and staffing levels are low at the start, higher at the end, and slowly level off as the project nears an end. The project is divided into a sequence of phases that progressively build on one another, with each phase resulting in the delivery of a work product, which can include project management documents, plans, deliverables, or other documents.The life cycle of a project is a collection of processes that are arranged in a particular order to achieve the goal of the project. The project life cycle is usually divided into five phases, each of which is critical to project management and essential for project success. These stages are initiation, planning, execution, monitoring and control, and closure.The correct option is e.
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Auctions are widely used. Analyze an actual auction employed by each of the following:
A for-profit business. For each, explain what type of auction is employed and how the auction solves the problem of finding the best price for the good or service.
Auctions are widely used by for-profit businesses. An actual auction employed by each of the following is an English auction.
In an English auction, the auctioneer starts the bidding and raises the price until the highest bidder wins. The bidding process for a good or service begins at a lower price and gradually increases until it reaches a fair market price. English auctions can be employed for various types of goods and services. The auctioneer conducts the auction until the highest bidder is found, at which point the bidding stops. This ensures that the best price is obtained for the good or service offered to potential buyers.
Sealed bid auction: The sealed bid auction is a type of auction where the bidders submit their bids in writing. The auctioneer is given a set of sealed envelopes containing the bids. The auctioneer then opens the envelopes and announces the highest bidder. Sealed bid auctions are used for various goods and services where there are several potential buyers. It is useful in industries where products and services are complicated, such as those in the energy sector. The sealed bid process is used to avoid collusion and make sure each bidder submits their bid independently.
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cash receipts journals
Answer: theyre handy!
Answer:
cool lol
Explanation:
The principal-agent problem in a corporation can best be characterized as conflicts of interest that arise between: A. the CEO and employees, B. bondholders and stockholders C. firm management and bondholders. D. firm management and stockholders
The principal-agent problem in a corporation can best be characterized as conflicts of interest that arise between firm (c) management and stockholders.
The principal-agent problem is a scenario where a principal engages a representative or agent to execute some operation on their behalf. The principal-agent problem happens when the best interests of the agent diverge from the best interests of the principal. In a corporation, it can be explained as a situation that occurs when the management (agent) makes decisions that conflict with the interests of the stockholders (principal).
Therefore, the principal-agent problem in a corporation can best be characterized as conflicts of interest that arise between firm(c) management and stockholders.
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If the current spot rate is 94.22 yen/dollar, the forecast inflation is 1.4% for Japan, and 5.7% for the US, the 180-day euro-yen deposit rate is 4.5%, and the 180-day euro-dollar deposit rate is 9.3%, calculate the 180-day forward rate yen/dollar
The formula to calculate the 180-day forward rate yen/dollar is as follows: F(dollar/yen) = S(dollar/yen) × (1 + Rd) / (1 + Ry)Where; S(dollar/yen) is the current spot rate dollar/yen, Rd is the 180-day euro-dollar deposit rate, and Ry is the 180-day euro-yen deposit rate.
Using the given information, let's calculate the 180-day forward rate yen/dollar; S(dollar/yen) = 94.22 yen/dollar Ry = 4.5%Rd = 9.3%Inflation difference = 5.7% - 1.4% = 4.3% (as given, the forecast inflation is 1.4% for Japan, and 5.7% for the US)So, the 180-day forward rate yen/dollar is: F(dollar/yen) = 94.22 × (1 + 0.093) / (1 + 0.045) = 98.453 yen/dollar (rounded to three decimal places).Therefore, the 180-day forward rate yen/dollar is 98.453 yen/dollar.
If the current spot rate is 94.22 yen/dollar, the forecast inflation is 1.4% for Japan, and 5.7% for the US, the 180-day euro-yen deposit rate is 4.5%, and the 180-day euro-dollar deposit rate is 9.3%, calculate the 180-day forward rate yen/dollar.
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what is an advertising allowance
Answer:
An advertising allowance is money that a product manufacturer or service provider pays to a retailer to get the word out about their product. ... By helping the retailer pay its advertising costs, the company's advertising allowance gives the retailer an incentive to carry that product.
A trade sales promotion technique in which shops receive a discount in exchange for either promoting the item in their own advertising, setting up a product display, or doing both. Another name for it is a display allowance.
What is the purpose of advertising allowance?Manufacturers who need to spread the word about their products through merchants use the advertising allowance approach. The money received pays for the retailer's costs related to product marketing.
Advertising allowance encourages merchants to promote products to customers, boosting the popularity of a manufacturer's brand. Retailers receive compensation for their advertising efforts in the form of advertising allowances, which can sometimes take the shape of product discounts.
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The maker of a leading brand of low-calorie microwavable food ACB estimated the following demand equation for its product using data from 26 supermarkets around the country for the month of April:
Q=5 200-42P+20Px + 5.2L + 0.20A + 0.25M
Standard deviation (Sec) for P = 17.5; Px = 6.2; L = 2.5; A = 0.09; and M = 0.21.
R2 = 0.60
n = 26
F= 4.88
Assume the following values for the independent variables:
Q = Quantity sold per month
P (in cents) = Price of the product = 500
Px (in cents) = Price of the leading competitor's product = 600
L (in dollars) Per capita income of the standard metropolitan area (SMSA) in which the supermarket
is located = 5 500
A (in dollars) = Monthly advertising expenditure = 10 000
M = Quantity of microwavable food sold in SMSA in which the supermarket is located = 5000
Required:
Determine the quantity of microwavable food that the company will sell per month.
The company will sell 27,050 units of microwavable food per month.Given,Quantity sold per month (Q) can be determined by using the following demand equation for ACB, Q = 5,200 - 42P + 20Px + 5.2L + 0.20A + 0.25M.
Here,Price of the product (P) is given as 500 cents.Price of the leading competitor's product (Px) is given as 600 centsPer capita income of the standard metropolitan area (SMSA) in which the supermarket is located (L) is given as $5,500.
Monthly advertising expenditure (A) is given as $10,000 Quantity of microwavable food sold in SMSA in which the supermarket is located (M) is given as 5,000.
Substituting these values, we get,Q = 5,200 - 42(500) + 20(600) + 5.2(5,500) + 0.20(10,000) + 0.25(5,000)Q = 5,200 - 21,000 + 12,000 + 28,600 + 2,000 + 1,250Q = 27,050.Thus, the company will sell 27,050 units of microwavable food per month.
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As we grow up, we are told about the virtues of thrift. Those who spend all their income are condemned to end up poor. Those who save are promised a happy life. Does the IS model support these predictions?
The IS model shows that there is an inverse relationship between investment and the interest rate. The higher the interest rate, the lower the investment.
The lower the interest rate, the higher the investment. This is because when the interest rate is high, the cost of borrowing is high. Therefore, businesses are less likely to invest, and consumers are less likely to borrow for consumption. On the other hand, when the interest rate is low, the cost of borrowing is low, and businesses are more likely to invest, and consumers are more likely to borrow for consumption. The result is that saving does not necessarily lead to a happy life. This is because saving increases the supply of funds in the loanable funds market, which pushes down the interest rate, which in turn, encourages businesses and consumers to borrow and spend more.
As such, the IS model suggests that spending is not inherently bad, but rather, it depends on the prevailing interest rate and the state of the economy. The economy may sometimes be in need of spending to stimulate growth. Therefore, while thrift is a virtue, excessive saving may not necessarily lead to a happy life, especially in a depressed economy. In a high growth economy, saving may indeed lead to a happy life, but this is not always the case. Overall, the IS model supports the view that spending can sometimes be good for the economy, while saving can sometimes be harmful to the economy. This, however, does not mean that people should not save, but rather, they should do so in moderation.
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true or false: market-based forecasting of exchange rates has shown to be more consistent and reliable than the other primary forecasting methods. true false
Market-based forecasting of exchange rates has shown to be more consistent and reliable than the other primary forecasting methods. The statement is false.
Market-based forecasting of exchange rates is not consistently shown to be more reliable or accurate than other primary forecasting methods. The accuracy of exchange rate forecasting depends on various factors, including the time horizon, market conditions, and the availability of reliable data.
While market-based forecasting incorporates market expectations and incorporates real-time information, it is subject to market sentiments, speculative behavior, and other unpredictable factors that can lead to volatility and inaccuracy.
Other forecasting methods, such as macroeconomic models, econometric analysis, and fundamental analysis, also play important roles in predicting exchange rates. It is advisable to use a combination of forecasting methods and consider multiple factors to make informed decisions about exchange rate movements.
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Walmart addressed its analytical needs by approaching kaggle to host a competition for analyzing its proprietary data. True. False.
The given statement "Walmart addressed its analytical needs by approaching Kaggle to host a competition for analyzing its proprietary data is true." because Walmart was faced with the need for additional insights from the massive amount of data collected by them.
The Walmart dataset, which includes anonymized sales data for 45 Walmart stores and more than 100 products, was put up for a Kaggle contest, with prize money of $5,000 for the first prize, $3,000 for the second prize, and $2,000 for the third prize. Walmart's approach was not just a cost-effective means of analyzing data, but it was also a way to get the best talent from around the world to compete.
The competition's primary goal was to generate sophisticated predictive models to forecast sales for various items at each store. These models will be useful for Walmart's daily operations, including inventory optimization and improving marketing strategies. Kaggle is a perfect platform for Walmart to collaborate with because it has a large community of data science enthusiasts who are willing to compete and submit their models.
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on december 28, 2022 kramer sold 150 shares of lavender, inc. stock for $77,000. he purchased the stock in 2012 for $89,000. on january 10, 2023 he purchased all 150 shares of the same stock for $95,000. what amount of loss can he recognize in 2022?$12,000$77,000$22,000$0
When calculating capital gain or loss, the following formula is used:
Capital gain or loss = selling price - purchase price The gain or loss is recognized by Kramer when he sells his shares. Kramer will have a capital loss of $12,000 in 2022 because he sold 150 shares of Lavender, Inc. stock on December 28, 2022, for $77,000 after purchasing them in 2012 for $89,000.
Kramer repurchased 150 shares of the same stock on January 10, 2023, for $95,000, which is higher than the amount he paid for it in 2012.T
therefore, the answer is $12,000.
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Question 15 1 points Mariam, Sabah and Fatima are partners with capital balances of $40,000, $60,000 and $50,000 respectively. They find that Afrah, a new partner, is a talented engineer with an exper
Afrah's capital balance would be $10,000.
To determine the capital balance for Afrah, we need to calculate 25% of the total capital contribution made by all partners.
Total capital contribution by all partners:
$40,000 (Sabah's capital balance) + $60,000 (Fatima's capital balance) + $50,000 (Afran's capital balance) + $10,000 (Afrah's capital contribution) = $160,000
25% of $160,000 = $40,000
Therefore, Afrah's capital balance would be $10,000.
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the complete question is :
Sabah and Fatima are partners with capital balances of $40,000, $60,000 and $50.000 respectively. They find that Afran, a new partner, sa talented engineer with an experience useful for the company Afrah accepts joining them as a new partner and ready to contribute $10,000 for an equity share of 25%. Afrah's capital balance would be
a. $2,500
b. $40,000
c. $10.000.
d. $37,500
sington FIM Uhe song MMONMAN IMMY FAMI 1. Explain the five interrelated goals of US economic policy. What is the difference between debt and deficit? How is the United States doing at accomplishing it
The five interrelated goals of US economic policy are sustainable economic growth, price stability, full employment, equitable distribution of income and efficient allocation of resources.
Deficit is the annual variance in government spending and revenue, and debt is the cumulative sum of all previous deficits. Short-term government spending is financed through deficits, whereas long-term government spending is financed through debt. Debt is recorded cumulatively, whereas deficits are measured annually.
Debt has a long-term effect on the economy, whereas deficits have a short-term one. The Fed is in charge of implementing the country's monetary policy in order to achieve the objectives of maximum employment, price stability, and moderate long-term interest rates, and the United States is succeeding in doing so.
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When you apply for most jobs requiring skills and experience, you need to send a resume and a short introduction letter which explains why you would be a good candidate for that specific position.
Write a cover letter for a job that you are interested in. Include the job posting/description with your response, and be sure to respond to specifics of the ad. Just have fun making something professional, and make it of appropriate length!
Writing this letter in response to the advertisement for a customer service representative position at XYZ Corporation that was posted on your company website.
With my exceptional communication skills and extensive experience in providing customer satisfaction, I am confident that I can be an excellent fit for the position. Based on the job posting, it is clear that the ideal candidate must possess the ability to respond to customer inquiries, resolve complaints and disputes, and maintain accurate and timely records of interactions with customers.
Throughout my career, I have demonstrated my expertise in these areas, as evidenced by the numerous customer satisfaction awards and positive feedback from customers.I have experience working in high-stress environments and providing timely responses to customer inquiries through phone, email, and social media platforms. I am well-versed in using various computer systems to update customer records, troubleshoot problems, and provide accurate and timely information.
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Jacob wants to build a farm when he is older. For the next 20 years, he invests €300 monthly into an ordinary annuity account, and the interest was compounded each month. The annuity grew to $147,126 at the end of the 20 years. What annual interest rate must he receive?
The annual interest rate that Jacob must receive is approximately 12.836%.
The annual interest rate Jacob must receive is 8 percent. An ordinary annuity is a regular series of equal payments that are made at the end of each period for a specific period at a fixed interest rate. A formula for calculating an ordinary annuity is P = (R(1 + R)^n) / ((1 + R)^n - 1), where P is the periodic payment, R is the interest rate per period, and n is the number of periods.
Using this formula, we can calculate that Jacob paid €72,000 (€300 x 12 months x 20 years) into the annuity account.
We can also use the formula to calculate the interest rate that he must have received.147,126 = (300 ((1 + R)^240 - 1)) / R147,126R = (300 ((1 + R)^240 - 1))
Therefore, the interest rate is approximately 0.006508. Multiply by 100 to get the percentage: 0.006508 x 100 = 0.6508.
Therefore, the annual interest rate that Jacob must receive is approximately 6.51 percent.
However, the interest rate is compounded monthly.
Thus, we need to use the formula for monthly compounding, which is: A = P(1 + r/12)^(12n).
Here, A is the amount accumulated, P is the regular deposit, r is the annual interest rate, and n is the number of years.
In this case, P = €300,
A = €147,126, and n = 20.147,126 = 300(1 + r/12)^(12 × 20)147, 126/300 = (1 + r/12)^2401.16542 = (1 + r/12)^240 ln(1.16542) = ln[(1 + r/12)^240]0.154032 = 240(r/12)r/12 = 0.012836
Therefore, the annual interest rate that Jacob must receive is approximately 12.836%.
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Assignment Question 5 of 5 ( 8.75/35 E Interest payable Interest receivable Interest revenue 0 Salaries expense 155,000 Salaries payable 0 Additional information for its September 30, 2021, year-end adjustments: 1. Pharoah has a two-year, 4% note receivable for $5,000 that was issued on April 1, 2021. Interest is payable every six months, on October 1 and April 1. Principal is payable at maturity. Pharoah collected the correct amount on October 1, 2021. 2. Accrued salaries as at September 30, 2021, were $2,400. Payroll totalling $3,150 was paid on October 2, 2021. 3. Pharoah has a five-year, 5% note payable for $84.000 issued in 2019. Interest is payable quarterly on January 31, April 30, July 31, and October 31 each year. Pharoah paid the correct amounts in 2021. 4. Depreciation expense for the year ended September 30, 2021, was $4.750.
There is no adjustment required in the interest payable account. The depreciation expense for the year ended September 30, 2021, was $4,750. Therefore, Pharoah needs to make the corresponding adjustment and recognize this expense in the adjusting entries.
This financial statement adjustment question involves recognizing and adjusting various accounts that were not properly accounted for as of September 30, 2021. The adjustments involve adjusting entries in the interest payable and receivable accounts, adjusting salaries expense and payable accounts, and adjusting depreciation expense.
First, the interest receivable account has a balance of zero. However, Pharoah has a note receivable, and interest is payable on October 1, 2021. Therefore, Pharoah must recognize and adjust the amount of $50 in interest revenue for the period of April 1, 2021, to September 30, 2021.
Next, Pharoah recorded a salaries expense of $155,000, but there are accrued salaries as of September 30, 2021, which amount to $2,400. Therefore, Pharoah must adjust the salaries expense by $2,400 in the period-ending adjusting entries. After recognizing this adjustment, Pharoah can pay the remaining salaries, amounting to $750, on October 2, 2021.
Pharoah has properly paid the interest on the note payable as per the payment schedule. Therefore, there is no adjustment required in the interest payable account.
Finally, the depreciation expense for the year ended September 30, 2021, was $4,750. Therefore, Pharoah needs to make the corresponding adjustment and recognize this expense in the adjusting entries.
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What are the challenges that companies faced in their
logistics, due to the pandemic from the beginning of 2020?
Which companies were able to pivot quickly to continue to
maintain the supply chain wit
The challenges the companies faced with their logistics due to pandemic in 2020 are:
Safety and hygiene protocolsDistruption in transportationInventory ManagementSupply Chain VisibilityLabour shortagesHow the Challenges affected Companies Logistics1. Safety and hygiene protocols: Due to the covid pandemic, the safety and well-being of employees became top of priority. Maintaining Social distancing and use of Personal Protective Equipment added to the responsibility of the logistics and the cost of the operations.
2. Distruption in transportation: Ban on movement and transportation of goods resulted in distruption in transportation which affected all form of transportation.
3. Supply Chain Visibility: There was change in the demand dynamic and companies could not accurately speculate what their supply Chain would be.
4. Labour shortages: there was lock, social distancing and even quarantine protocols which affected all sector of the economy. This resulted in the shortage in Labour.
Companies accepted the new reality and sought the way forward to quickly pivot and maintain the supply chain. The following are carried out to do that:
1. Digitalization and technology adoption. The companies started adopting the use of social media and other digital tools for supply chain visibility.
2. Collaboration and Partnership: The companies collaborated with suppliers, logistics providers, and other stakeholders to build strong and open communication .
3. E-commerce and direct-to-consumer models: The companies shift to online sales and bypassing traditional retail channels, they could continue to reach consumers and fulfill orders.
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Question 14 In creating partnerships, partners are allowed to invest cash ONLY for their shares in the parten O True O False Moving to another question will save this response.
The given statement "In creating partnerships, partners are allowed to invest cash ONLY for their shares in the partnership" is TRUE.
Partnership is a type of business organization in which two or more people join hands together to form a business. This type of business is easy to form and has a low cost of establishment. Partnerships are usually established when the owners need the combined skills and abilities of all the partners involved.
Investment refers to the act of putting money into something with the hope of making a profit or earning an income in the future. Investing is often associated with the purchase of assets such as stocks, bonds, or property. An investor aims to receive a return on their investment over a specified time frame.What are shares?Shares are units of ownership in a corporation or financial asset that provide for an equal distribution in any profits, if any are declared, in the form of dividends. Shares also give shareholders voting rights on matters of corporate policy, such as electing the board of directors or approving mergers.
Investment is a vital aspect of partnerships because partners are required to invest capital into the business to fund its operations. In return for their investment, partners receive a share of the profits as dividends. Therefore, the amount of investment that partners make in a partnership is directly proportional to the shares they receive in the company.
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Calculate equity from the following accounts: Cash at bank $6,800; accounts payable $3,400; inventory $2,400; accounts receivable $5,000; loan from ABC bank $7,000. Select one: 1. $1,900 2. $24,600 3. $600 4. $3,800 O 5. $10,800 -
The equity from the following accounts is $3,800. The Option 4.
How can we calculate equity from the given accounts?In finance, equity is an ownership interest in property that may be offset by debts or other liabilities.
To calculate equity, we have to subtract liabilities from assets.
Assets:
Cash at bank = $6,800
Inventory = $2,400
Accounts receivable = $5,000
Total assets = $6,800 + $2,400 + $5,000
Total assets = $14,200
Liabilities:
Accounts payable = $3,400
Loan from ABC bank = $7,000
Total liabilities = $3,400 + $7,000
Total liabilities = $10,400
Equity = Total assets - Total liabilities
Equity = $14,200 - $10,400
Equity = $3,800
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