From the following information prepare Manufacturing, Trading and Profit and Loss account for the year ended 31/12/2012. Show clearly the Prime Cost, Factory Cost of completed Production and Cost of Sales.
GH¢
Stock of raw materials- 1,1/12 25,000
Work in progress 1/1/12 16,000
Stock of finished goods 39,000
Purchases of raw materials 48,000
Carriage inwards 3,700
Carriage outwards 5,000
Direct wages (manufacturing) 25,000
Admin. Salaries 12,500
Hire of special machine for production 5,200
Warehouse expenses 2,300
Supervisor’s wages 6,800
Royalties payable 7,500
Factory electricity 1,600
Heat and light 9,200
Returns outwards 7,600
Bad debts 750
Discount allowed 240
Depreciation on Plant 1,750
Plant – Cost 6,600
Transportation 2,000
Delivery van expenses 850
Rent and rates (factory3/4 office ¼) 1,900
Salesman’s commission 3,000
Profit on the sale of scrap 400
10% Loan 15,000
Bank charges 750
Insurance on plant 1,980
Advertising 5,400
Repairs to plant 10,600
Sales
Stock of raw materials at 31/12/12 13,500
Work in progress at factory cost 15,800
Finished goods 24,700
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Related Questions
If your co-worker sends you $30 each week via Cash App for lunch and you transfer it to your bank account instantly (1.5% fee), how much are you being charged in fees for the year?
Answers
Answer:
$23.4
Explanation:
Each week, the co-worker sends $30, the feed for transfers is 1.5%. The charges per week are
=1.5 % of $30
=1.5% x $30
=0.015 x $30
=$0.45
One year has 52 week, The charge per year will be
=$0.45 x 52
=$23.4
Exercise 1-16 Cost Classifications for Decision Making [LO1-5] Warner Corporation purchased a machine 7 years ago for $383,000 when it launched product P50. Unfortunately, this machine has broken down and cannot be repaired. The machine could be replaced by a new model 300 machine costing $373,650 or by a new model 200 machine costing $342,000. Management has decided to buy the model 200 machine. It has less capacity than the model 300 machine, but its capacity is sufficient to continue making product P50. Management also considered, but rejected, the alternative of dropping product P50 and not replacing the old machine. If that were done, the $342,000 invested in the new machine could instead have been invested in a project that would have returned a total of $445,600. Required: 1. What is the total differential cost regarding the decision to buy the model 200 machine rather than the model 300 machine
Answers
Answer:
Missing word "2. What is the total sunk cost regarding the decision to buy the model 200 machine rather than the model 300 machine? 3. What is the total opportunity cost regarding the decision to invest in the model 200 machine?"
1. Differential cost of buying model 200 machine = Cost of model 200 machine - Cost of model 300 machine
= $342,000 - $373,650
= -$31,650
We'll have a savings of $31,650 if model 200 is purchased rather than model 300
2. $383,000 (The Cost of existing machine). Note: $383,000 is a sunk cost since it has already been incurred.
3. Opportunity cost is the total return of the project if the money was invested elsewhere. The Opportunity cost of investing in model 200 machine is $445,600 (Returns from the alternate project)
PLEASE HELP!! Retirement plans-
Under what circumstances is it better to be taxed later(when you retire and draw money from your account) instead of now?
Answers
Answer:
Though retirement may seem far off, saving for it as early as possible will ensure you have enough money to get you through your retirement years. In addition, investing benefits from compounding returns, which will increase your money more over a longer period of time.
What is one major disadvantage to organizing a business as a sole
proprietorship?
A. Stockholders may remove the owner from the business,
B. The business will be subject to many legal regulations.
C. Conflict between owners could disrupt the business.
D. The business could fall apart if the owner dies,
SUBMIT
Answers
Answer:
D. The business could fall apart if the owner dies
Explanation:
since sole proprietorship entails an organization owned by an individual, the end of the existence of the owner, results to the business falling apart since there is no one to take care of the firm.
The business could fall apart if the owner dies, is one major disadvantage to organizing a business as a sole proprietorship. In a sole proprietorship, the business is owned and operated by a single person, and the owner has complete control over the business. Thus, option D is correct.
What is sole proprietorship?A sole proprietorship is a type of business structure in which a single individual owns and operates a business. In this type of business, there is no legal distinction between the owner and the business, which means that the owner is personally responsible for all the debts and liabilities of the business.
This means that the owner is also entitled to all the profits of the business, and has complete control over its operations. Sole proprietorships are generally the simplest and least expensive type of business to set up, and they are often used by small businesses, freelancers, and independent contractors.
However, they also have some disadvantages, such as limited access to funding, lack of liability protection, and the potential for the business to end if the owner dies or becomes incapacitated.
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Bombas makes socks and T-shirts which it sells to consumers online. It uses the _______ channel.
Answers
Bombas makes socks and T-shirts which it sells to consumers online. It uses the Direct-to-consumer channel.
Direct-to-consumer (DTC) is a sales channel that allows brands to sell their products directly to consumers without the need for intermediaries like wholesalers or retailers. Bombas, a company that makes socks and T-shirts, uses the DTC channel to sell its products online. By doing so, Bombas can offer its products at a lower price point and have more control over the customer experience.
DTC also allows companies to gather valuable customer data and feedback, which can be used to improve products and marketing strategies. Overall, DTC has become a popular channel for many brands, especially those in the e-commerce space, looking to build strong relationships with their customers and increase profitability.
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There are 5 restaurants in your city with seating capacities of 52, 26, 38, 48, and 64. What is the combined seating
capacity of the five restaurants?
a) 64
b) 144
c) 189
d) 228
Answers
Answer:
It is D 228
Explanation:
I just know because I did this math quiz on VBC
40
Maria makes hand-crafted jewelry. Lately the demand for her items has
increased. She currently has them on consignment in a shop, but wants to
have them placed in multiple stores. To do this she needs one central place to
hold a high volume of her jewelry so that retailers can purchase her jewelry in
large numbers. Which channel member should she use for this step?
A. Supplier
B. Producer
C. Consumer
D. Wholesaler
Answers
Answer:
D.) Wholesaler
Explanation:
Just took this test, and got this answer correct.
The channel member that should be used by Maria to satisfy the increasing demand is wholesaler. Hence, Option D is correct.
What is the meaning of wholesaler?A wholesaler serves as a middleman or intermediary in the supply chain. The most typical example of a wholesaler is a business that buys finished goods from manufacturers and distributes them to retailers, who then sell more of the goods to consumers in smaller quantities.
Jewelry created by Maria is handmade. Her products are more in demand nowadays. She has them on consignment in a store for now, but she wants to have them distributed to several shops.
In order for merchants to buy her jewellery in large quantities, she needs a single, central location to store a lot of it. Maria needs to use wholesalers as a channel partner to meet the rising demand.
Therefore, option D is correct.
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Jack went to the ABC Casino to gamble. ABC offers its customers one free spin of the Million Dollar Wheel if they fill out an application form. Jack filled out the form, spun the Million Dollar Wheel, and won. However, now ABC refuses to pay, claiming that because Jack did not purchase his chance at the Million Dollar Wheel, Jack gave no consideration and therefore, no contract was formed. Identify the accurate statement.
A. No contract was formed because Jack paid no money for his chance at the Million Dollar Wheel.
B. No contract was formed because ABC did not sign any written contract as an obligation to do so.
C. A contract was formed because filling out an application can constitute legal consideration.
D. A contract was formed because no consideration is needed when a customer takes advantage of a "free" offer.
Answers
Answer:
C. A contract was formed because filling out an application can constitute legal consideration.
Explanation:
I personally Think this because if you think about it , he didn't pay , which doesn't matter because its "free" but maybe they just named it the million dollar wheel for a better name , or they were using it for customers , but if he had won and received yet nothing than he is able to file a contract because therefore they lied to him and therefore that's a illegal thing for a company who is allowing to spin a wheel for reward and if he won than he should get what he won , therefore the answer is = C
Farris Company reported the following information for its two products:
Product X Product Y
Selling price per unit
$ 25 $35
Variable cost per unit
15 20
Due to labor constraints, demand for each of the products is greater than its supply. Product X requires one hour of labor to produce and product Y requires three hours of labor to produce. Which of the following statements is true?
Answers
Answer: To determine which statement is true, we need to compare the contribution margin per unit of each product. The contribution margin is the amount by which the selling price exceeds the variable cost per unit, and it represents the amount of revenue available to cover fixed costs and contribute to profit.
Explanation: The contribution margin per unit for each product is calculated as follows:Product X: $25 selling price - $15 variable cost = $10 contribution margin per unitProduct Y: $35 selling price - $20 variable cost = $15 contribution margin per unitHowever, since Product Y requires three times as much labor as Product X, we need to consider the contribution margin per hour of labor:Product X: $10 contribution margin / 1 hour of labor = $10 contribution margin per hour of laborProduct Y: $15 contribution margin / 3 hours of labor = $5 contribution margin per hour of laborTherefore, the true statement is that Product X has a higher contribution margin per hour of labor than Product Y. Even though Product Y has a higher total contribution margin per unit, it requires more labor to produce, which reduces its contribution margin per hour of labor. As a result, if there is a labor constraint, it may be more profitable to produce more units of Product X rather than Product Y.
Suppose that the Federal Reserve Bank announces that it will be making a change to a key interest rate to increase the money supply. This is likely because
Group of answer choices
A.)the Federal Reserve Bank is worried about inflation.
B.)the Federal Reserve Bank is worried about unemployment.
C.)the Federal Reserve Bank is hoping to reduce the demand for goods and services.
D.)the Federal Reserve Bank is worried that the economy is growing too quickly.
Answers
Answer:
A.)the Federal Reserve Bank is worried about inflation.
Explanation:
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Acceptable methods of assigning specific costs to inventory and cost of goods sold include all of the following except:
Multiple Choice
FIFO method.
Retail method.
Specific identification method.
LIFO method.
Weighted average method.
Answers
Acceptable methods of assigning specific costs to inventory and cost of goods sold include all of the following except LIFO method. Thus, option D is correct.
What is inventory?Inventory or stock alludes to the merchandise and materials that a business holds for a definitive objective of resale, creation or usage. Stock administration is a discipline fundamentally about indicating the shape and position of loaded merchandise.
The LIFO technique is certainly not an adequate strategy for stock costing under IFRS. monitoring every particular thing in stock and relegating costs exclusively as opposed to gathering things together.
Therefore, option D is correct.
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What skills and interests might someone in a trade career have?
Answers
Answer:
Confidence.
Numerical skills.
IT skills.
Communication skills.
An interest in financial markets.
Analytical skills.
Interpersonal skills.
Teamworking skills.
Consider the organization you are currently working in and explain this organization from systems characteristics perspectives particularly consider objective, components (at least three) and interrelationships among these components with specific examples
Answers
Explanation:
I don't have direct knowledge of the organization you are currently working in. However, I can provide a general example to help illustrate the systems characteristics of an organization. Let's consider a fictional manufacturing company called "ABC Manufacturing."
Objective:
The objective of ABC Manufacturing is to efficiently produce and deliver high-quality products to its customers while maximizing profitability. The organization aims to maintain a competitive edge in the market by consistently meeting customer demands and optimizing its operations.
Components:
1. Human Resources: The employees of ABC Manufacturing form a crucial component. They include production workers, managers, engineers, and support staff. Each employee contributes their skills and expertise to ensure smooth operations. For example, production workers assemble products, engineers design new prototypes, and managers oversee the overall functioning of the organization.
2. Production Facilities: The physical infrastructure, including factories, warehouses, and equipment, is another vital component. These facilities house the production lines, machinery, and storage areas necessary for manufacturing products. The efficient functioning of the production facilities is essential to meet production targets and ensure the timely delivery of goods.
3. Supply Chain and Logistics: The supply chain component involves managing the flow of materials, resources, and finished products. This includes sourcing raw materials, coordinating with suppliers, inventory management, and distribution logistics. Effective supply chain management ensures that the right materials are available at the right time, minimizing delays and reducing costs.
Interrelationships among Components:
The components of ABC Manufacturing are interrelated and interconnected, forming a system that works together to achieve the organization's objectives. Here are a few examples of interrelationships among these components:
1. Human Resources and Production Facilities: The production facilities rely on the skills and efforts of the employees. Human resources ensure that the right talent is hired, trained, and deployed in the production process. They also provide support and maintenance services to ensure the smooth functioning of the production facilities.
2. Production Facilities and Supply Chain: The production facilities rely on the timely availability of raw materials from the supply chain. Efficient coordination between production and supply chain teams is necessary to maintain optimal inventory levels and avoid production delays.
3. Supply Chain and Human Resources: The supply chain team collaborates with human resources to forecast demand, plan workforce requirements, and align production schedules accordingly. Effective communication and coordination between these components ensure that the production process meets customer demand and avoids excessive inventory or stockouts.
By viewing ABC Manufacturing through a systems perspective, we recognize that the organization is a complex interplay of various components working together to achieve a common objective. Understanding the interrelationships and dependencies among these components helps in identifying areas for improvement and optimizing the overall performance of the organization.
Answer:Dashen Bank s.c is a company where I am working in it. The company’s objective is to maximize its profit and become from the lists in best class banks in Africa. To achieve this objective it has its own system which contains the following components
• A banking software called FLEXCUBE which is the core software which accomplishes the majority of the banking day to day activities e.g. cash withdrawal, cash deposit, account opening general leger account postings etc.
• CATPS(card application tracking and processing system) is a component of a system which is used to capture ATM card applications and authorize the processed/ captured applications in order to produce the cards
• Amole admin/internet banking application is used to create an access to the customers such that user name and passwords and and link bank accounts so customers can transfer money, make payments at home.
The above listed components have interrelation each other. E.g. in order to produce cards using CATPS, the customer must have a bank account with precise customer data such that signature, photo etc. so these stated things i.e. account opening, signature and photo uploading activities are processed by FLEXCUBE software. In the same manner, in order to get an access to the bank account using amole/ internet banking, the customer must have properly opened bank account with customer signature and photo which is also processed by using FLEXCUBE software.
5 eBook Preparing a consolidated income statement For the year ended December 31, 20Y2, the operating results of Paley Corporation and its wholly owned subsidiary, Sims Enterprises, are as follows: Paley Sims Corporation Enterprises Sales Cost of goods sold Gross profit Operating expenses Operating income Interest revenue Interest expense Net income Sales 3,200,000 (1,900,000) 1,300,000 (750,000) 550,000 20,000 Cost of goods sold Gross profit Operating expenses Operating income During 20Y2, Sims Enterprises sold and received payment of $80,000 for merchandise that was purchased by Paley Corporation. The merchandise sold to Paley cost Sims Enterprises $45,000. Paley Corporatio (nonaffiliated) company for $110,000. 570,000 a. Prepare a consolidated income statement for Paley Corporation and Subsidiary. Hint: Eliminate the effect of the intercompany sale. Paley Corporation and Subsidiary Consolidated Income Statement For the Year Ended December 31, 20Y2 Other revenue and expense: Interest revenue Interest expense Net income Print Item Check My Work 900,000 (550,000) 350,000 (125,000) 225,000 (15,000) 210,000 X All work saved. Email Instructor Sav
Answers
The cost of goods sold ($1,900,000 + $45,000) is adjusted by the intercompany sale. the effect of the intercompany sale is eliminated in preparing the consolidated income statement.
Consolidated income statement is used to combine the financial statements of two or more parent company and their subsidiaries into a single financial statement. Therefore, the consolidated income statement for Paley Corporation and its wholly owned subsidiary, Sims Enterprises can be prepared as follows; Paley Corporation and Subsidiary Consolidated Income Statement For the Year Ended
December 31, 20Y2Sales $3,200,000Cost of goods sold ($1,900,000 + $45,000) 1,945,000 Gross profit $1,255,000
Operating expenses ($750,000 - $125,000) 625,000
Operating income $630,000Other revenue and expense:
Interest revenue $20,000Interest expense ($15,000 + $20,000) (35,000)Net income $615,000Note: The cost of goods sold ($1,900,000 + $45,000) is adjusted by the intercompany sale.
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2. Take a Guess: Amita wants to invest in a fund and choose a few individual stocks and
bonds to invest in. Is she allowed to do this? Or, does she have to choose one or the
other?
Answers
Yes, she allowed doing this as it is amita's choice.
What are stocks?All the shares that make up the firm or group's ownership make up its stock. A single common stock represents a minority portion of the company's ownership based on the entire number of issues.
She is capable of doing this as it is her own earnings. Due to the fact that a single balanced portfolio could be made up of a number of different stocks, clients can deposit a little sum of everything into or more organizations and gain access to a wide range of investing alternatives or in other stocks.
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Personal Impact Improvement Plan. Think about the tips for how to live an environmentally friendly life and set goals for your own improvement. Be specific and realistic for your life.
Answers
A Personal Impact Improvement Plan is a means of making small lifestyle changes to reduce one's impact on the environment. It is a series of simple lifestyle changes that can make a huge difference. An environmentally friendly lifestyle is beneficial for the environment, our health, and the economy.
Following are some tips for living an environmentally friendly life: Reducing water usage: Water is an essential natural resource. Conserving water saves money and energy while protecting the environment. This can be achieved by reducing shower times, using a low-flow showerhead, and fixing leaky taps. Reducing energy usage: The use of energy affects the environment, both locally and globally.
By conserving energy, we can save on our energy bills and reduce pollution. This can be achieved by using energy-efficient lighting, unplugging electronics when not in use, and reducing heating and cooling requirements.
Reducing plastic usage: Plastic waste is a significant problem for the environment. It takes a long time to decompose, and it is not biodegradable. This can be achieved by using reusable bags, bottles, and straws.
Reducing carbon emissions: Carbon dioxide is a greenhouse gas that contributes to climate change. This can be achieved by walking, cycling, or taking public transport instead of driving and reducing air travel.
Setting goals for your own improvement is essential. Specific, realistic, and achievable goals can be set to make lifestyle changes more manageable.
The goals should be tailored to the individual and their circumstances. For example, a person can aim to reduce their energy consumption by 10% by using energy-efficient lighting and unplugging electronics when not in use.
Another person can aim to reduce their water usage by fixing leaky taps and reducing shower times. It is important to remember that small changes can make a big difference, and everyone can do their part to help the environment.
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Callie Brent's credit card statement for March 31 showed a previous balance of $210.40 and new purchases of $22.31 on 3/11, $12.11 on 3/18, and $34.85 on 3/23. She made a payment of $210.40 on 3/27. What is Callie's new balance?
Answers
If Callie Brent's credit card statement for March 31 showed a previous balance of $210.40 and new purchases of $22.31 on 3/11, $12.11 on 3/18, and $34.85 on 3/23. She made a payment of $210.40 on 3/27. What is Callie's new balance is $69.27.
What is the new balance?Let make use of this formula to determine the new balance
New balance = Previous balance + 3 / 11 ew purchase + 3 / 18 New purchase+ 3 / 23 New purchase - Payment
Let plug in the formula
New balance = $210.40 + 22.31 + $12.11 + 34.85 - 210.40
New balance = $69.27
Therefore we can conclude that the new balance is the amount of $69.27.
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Which of the following holds a company liable for negligence in the production, design, sale, or use of products the firm markets?
Answers
Product liability holds a company liable for negligence in the production, design, sale, or use of products the firm markets.
What is product liability?
Manufacturers, distributors, suppliers, retailers, and other parties who make items available to the general public may be held liable for the harm those products cause under the doctrine of product liability. Although the term "product" has a broad definition, tangible personal property is the only kind of product that falls under the purview of product liability law. You are protected from the burden of compensation for bodily injuries brought on by your defective product by product liability insurance, property loss, or damage brought on by your defective product.
Product liability holds a company liable for negligence in the production, design, sale, or use of products the firm markets.
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(5 points)
Willie's Hot Dogs had sales last year of $250,300 and a guest count of 76,079.
Sales this year were $280,750 with a guest count of 83,556.
What was Willie's guest count percentage variance?
Answers
Willie's guest count percentage variance is 9.82%.
How to calculate guest count percentageTo calculate the guest count percentage variance
Use the following formula:
Guest count percentage variance = [(current year guest count - prior year guest count) / prior year guest count] x 100%
Guest count percentage variance = [(83,556 - 76,079) / 76,079] x 100%
Guest count percentage variance = (7,477 / 76,079) x 100%
Guest count percentage variance = 0.0982 x 100%
Guest count percentage variance = 9.82%
Therefore, Willie's guest count percentage variance is 9.82%.
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The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2.Stargel Inc.Comparative Retained Earnings StatementFor the Years Ended December 31, 20Y2 and 20Y120Y2 20Y1Retained earnings, January 1 $5,375,000 $4,545,000Net income 900,000 925,000Total $6,275,000 $5,470,000Dividends: Preferred stock dividends $45,000 $45,000Common stock dividends 50,000 50,000Total dividends $95,000 $95,000Retained earnings, December 31$6,180,000$5,375,000 Stargel Inc. Comparative Income Statement For the Years Ended December 31, $6,180,000 $5,375,000Stargel Inc.Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y120Y2 20Y1Sales $10,000,000 $9,400,000Cost of goods sold 5,350,000 4,950,000Gross profit $4,650,000 $4,450,000Selling expenses $2,000,000 $1,880,000Administrative expenses 1,500,000 1,410,000Total operating expenses $3,500,000 $3,290,000Income from operations $1,150,000 $1,160,000Other revenue 150,000 140,000$1,300,000 $1,300,000Other expense (interest) 170,000 150,000Income before income tax $1,130,000 $1,150,000Income tax expense 230,000 225,000Net income $900,000 $925,000Stargel Inc.Comparative Balance SheetDecember 31, 20Y2 and 20Y1Dec. 31, 20Y2
Dec. 31, 20Y1Assets Current assets: Cash $500,000 $400,000Marketable securities 1,010,000 1,000,000Accounts receivable (net) 740,000 510,000Inventories 1,190,000 950,000Prepaid expenses 250,000 229,000Total current assets $3,690,000 $3,089,000Long-term investments 2,350,000 2,300,000Property, plant, and equipment (net) 3,740,000 3,366,000Total assets $9,780,000 $8,755,000Liabilities Current liabilities $900,000 $880,000Long-term liabilities: Mortgage note payable, 10% $200,000 $0Bonds payable, 10% 1,500,000 1,500,000Total long-term liabilities $1,700,000 $1,500,000Total liabilities $2,600,000 $2,380,000Stockholders' Equity Preferred $0.90 stock, $10 par $500,000 $500,000Common stock, $5 par 500,000 500,000Retained earnings 6,180,000 5,375,000Total stockholders' equity $7,180,000 $6,375,000Total liabilities and stockholders' equity $9,780,000 $8,755,000Required:Determine the following measures for 20Y2.Return on total assets %Return on stockholder's equity %Return on common stockholder's equity %
Answers
DESCRIBE THE FUNCTIONS OF
PRELIMINARY DATA GATHERING?
Answers
Preliminary data gathering involves collecting and analyzing relevant information to establish a foundation for research or decision-making, including identifying objectives, assessing data availability, etc.
What are the Functions of Preliminary Data Gathering?Preliminary data gathering encompasses the initial acquisition and evaluation of pertinent information, serving as a basis for research or decision-making. It aids in defining project scope, goals, and needs, while also assessing data availability and quality.
This stage assists researchers and decision-makers in gaining insights, assessing project feasibility, recognizing potential obstacles, and formulating a strategic plan for subsequent data collection and analysis.
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First National Bank Assets Liabilities and Net Worth US Treasury Bonds $450,000 Net Worth $500,000 Reserves (Cash) $175,000 Checkable Deposits $250,000 Loans $125,000 Second National Bank Assets Liabilities and Net Worth US Treasury Bonds $100,000 Net Worth $250,000 Reserves (Cash) $250,000 Checkable Deposits $100,000 Third National Bank Assets Liabilities and Net Worth US Treasury Bonds $900,000 Net Worth $1,000,000 Reserves (Cash) $350,000 Checkable Deposits $500,000 Loans $250,000
The Required Reserve Ratio is 25% for all banks. Assuming that all the customers that have outstanding loans have used all of those additional funds to invest in new machinery for their businesses (therefore, the amount of Checkable Deposits is the true liability the bank has to its customers), then $_____________ is the resulting change to the loan creating potential of the whole system (these three banks) as a result of Second National Bank customers depositing an additional $400,000 in their Checkable Deposit accounts in new loans.
Answers
$900,000 is added to the system's overall potential to create loans.
Determine the loan amount.We must first determine the surplus reserves of the Second National Bank following the depositing of $400,000 in order to assess the subsequent change to the system's overall capacity to create loans.
With $100,000 in checkable deposits and a 25% minimum reserve ratio, Second National Bank is required to hold reserves equivalent to 25% of its checkable deposits. As a result, the reserves it needs are:
Checkable Accounts x Required Reserve Ratio = Needed Reserves
Reserves Needed = 100,000 divided by 0.25
Reserves Needed = $25,000
Yet Second Federal Bank already has $250,000 in reserves, which is more than enough. As a result, its surplus reserves are:
Reserves minus Required Reserves equals Surplus Reserves.
Reserves in Excess = 25,000 - 250 000
Reserves in Excess = $225,000
We must now determine the largest possible loan that Third National Bank could make using its extra reserves. By dividing the extra assets by the required reserve ratio, the maximum possible loan is determined: Excess Reserve / Required Reserves determines the maximum possible loan.
Loan Amount Maximum = $225,000 divided by 0.25
The maximum loan amount is $900,000.
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Q. In the investment industry, cash management is most likely the responsibility of the:
A. treasurer.
B. general counsel.
C. chief risk officer.
Answers
Answer:
A. treasurer
Explanation:
Cash management, also known as treasury management, entails collecting and managing cash flow. In an investment set-up, the treasurer is responsible for cash management. The treasurer has to maintain updated records of all the inflows and outflows arising from an investment.
Cash management is a critical section of an investment. The success of investment has a direct link to how it manages its cash. The treasurer should be familiar with cash management strategies, cash flow cycles, and other responsibilities associated with cash management.
cross cultural differences in leadership
Answers
Answer:
Cross Cultural Leadership Cultural Differences in Leadership Cultural differences determine certain leadership traits and portions of our personality. It is easy to discredit the importance of cross-cultural differences and their influences on various leadership styles. Different cultures are known for certain traits. Cultural traditions and values play a role in a leader's style. According to the "International Journal of Cross Cultural Management," leadership traits result partly from cultural norms and partly from the needs of the leadership job. Cultures differ regarding the use of power.
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Roger Fox made deposits of $900 semiannually to Reed Bank at the end of each period, which pays 6% interest compounded semiannually. After seven years Roger made no more deposits. What will be the balance in the account eight years after the last deposit?
Answers
The balance in the account eight years after the last deposit is $24,676.68
What is an ordinary annuity?
Ordinary annuity means a fixed amount that would be paid over a period of time, with payments being made at the end of each period.
Like in this scenario, the $900 would be deposited every six months into the Reed Bank account for 7 years, in essence, our first task is to determine the balance in the account at the time of the last deposit in 7 years using the future value formula of an ordinary annuity as shown below:
FV=annuity payment*(1+r)^N-1/r
annuity payment=$900
r=semiannual interest rate=6%/2=0.03
N=number of semiannual payments in 7 years=7*2=14
FV=$900*(1+0.03)^14-1/0.03
FV=$900*(1.03)^14-1/0.03
FV=$900*(1.51258972485511-1)/0.03
FV=$900*0.51258972485511/0.03
FV=$15,377.69
The balance in the account eight years after the last deposit can be computed using the future value formula of single cash of $15,377.69
FV=PV*(1+r)^N
PV=balance at the time of the last deposit=$15,377.69
r=semiannual interest rate=6%/2=0.03
N=number of semiannual periods in 8 years=8*2=16
FV=$15,377.69*(1+0.03)^16
FV=$24,676.68
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A business tries to earn a profit by providing ? and ?
Answers
Answer:
Goods and services
Explanation:
hope its helpful
A business tries to earn a profit by providing goods and services.
A business aims to generate profit by offering valuable goods or services to customers in exchange for payment. Profit is the financial gain earned by a business after deducting its expenses from its revenues.
The provision of goods refers to the production, manufacturing, or sourcing of tangible products that fulfill customer needs or desires. This can include items such as clothing, electronics, furniture, or food.
The provision of services involves offering intangible benefits or performing specific tasks for customers. Services can range from professional expertise, such as legal or consulting services, to everyday services like hairdressing, transportation, or healthcare.
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In this activity, you will select a student organization of your choice in which you would like to participate. Create a brief report about the duties and responsibilities of the organization, and state the reason you want to participate in this organization. Also, mention opportunities provided by this organization for developing leadership skills. You may use online resources to find information about the organization. Ensure you cover the following points: • List the goals and purposes of this organization. • Include the benefits, duties, and responsibilities of being a member of the student organization. • Describe the opportunities provided by this organization for developing leadership skills.
Answers
I can provide a general outline of what you can include in your report:
How to write IntroductionBriefly introduce the student organization you have chosen and explain why you are interested in participating.
Goals and purposes
Provide an overview of the goals and purposes of the organization, including its mission statement and core values.
Benefits, duties, and responsibilities
Describe the benefits of being a member of the organization, such as opportunities for networking, personal and professional growth, and community service.
Outline the duties and responsibilities of members, including attending meetings, participating in events, and contributing to the organization's goals.
Leadership opportunities
Discuss the leadership opportunities provided by the organization, such as holding officer positions, organizing events, and mentoring newer members.
Highlight how these opportunities can help develop leadership skills, such as communication, decision-making, and teamwork.
Conclusion
Summarize your report and reiterate your interest in joining the student organization.
Remember to research and gather information about the specific student organization you have chosen and tailor your report accordingly.
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True or False: Improving manufacturing plant output and improving inventory turns are strategic key performance
indicators (KPIs).
True
False
Answers
This claim is untrue. Key performance indicators (KPIs) are a group of quantitative metrics used to assess the overall long-term performance of an organization.
What does a manufacturing KPI mean?A manufacturing KPI or metric is a clearly defined measurement used to track, evaluate, and improve production processes in terms of quantity, quality, and other cost factors.
What purposes do KPIs serve?Key performance indicator, or KPI, is a quantitative measurement of performance over time for a certain goal. KPIs offer goals for teams to strive towards, benchmarks to evaluate progress, and insights that aid individuals throughout the organization in making better decisions.
Which five key performance indicators are there?The five key performance metrics are:
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Two key aspects of financial planning are cash planning and profit planning. Cash planning involves the preparation of the cash budget and profit planning involves preparation of pro forma statements. To make cash budget and pro forma statements for a firm, accounting knowledge is needed. Do accounting courses you took before help you better understand how to make cash budget and pro forma income statement and balance sheet? Explain.
Answers
Yes. Accounting courses I took before helps us understand how to make cash budget and pro forma income statement and balance sheet.
Here's how accounting courses can help individuals in creating cash budgets, pro forma income statements, and balance sheets:
Cash Budget: Accounting courses teach students about the importance of cash flow management and how to prepare a cash budget. Pro Forma Income Statement: Accounting courses teach students how to analyze historical financial data and use it to forecast future performance. Balance Sheet: Accounting courses provide a comprehensive understanding of balance sheets and their components. Students learn how to analyze assets, liabilities, and shareholders' equity to assess the financial position of a company.By studying accounting, individuals gain a solid foundation in financial concepts, reporting standards, and analytical techniques. This knowledge equips them with the skills necessary to create cash budgets, pro forma income statements, and balance sheets effectively.
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Layne wants to set up her PivotTable to show how her total sales were distributed across the
months she's been tracking to see, at a glance, which month accounted for the higher portion
of her total sales. What command, accessible with a right-click, will bring up a list of options
that will let her do this with one click?
Show Values As...
Value Field Settings
O Show Field List
O Remove Values
Answers
The command that would help to show the total sales distributed in the month that she wants to see is the Show Field List.
What is the show field list?This is the command that tells the spreadsheet that you want to view the values that are in a field.
This command would show the list after you carry out the action of right clicking on the pivot table.
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