Presented below is information related to Cheyenne Corp. for the year 2017.
Net sales $1,307,700 Write-off of inventory due to obsolescence $84,810
Cost of goods sold 783,400 Depreciation expense omitted by accident in 2016 44,900
Selling expenses 70,400 Casualty loss 46,800
Administrative expenses 57,500 Cash dividends declared 41,910
Dividend revenue 24,700 Retained earnings at December 31, 2016 1,018,730
Interest revenue 7,450 Effective tax rate of 34% on all items
Prepare a separate retained earnings statement for 2017. (List items that increase adjusted retained earnings first.)
CHEYENNE CORP.
Retained Earnings Statement
For the Year Ended December 31, 2017
Retained Earnings, January 1, as reported
Correction for Overstatement of Net Income in Prior Period
Retained Earnings, January 1, as adjusted
Add:Net Income/(Loss)
Less . Dividends Declared
Retained Earnings, December 31

Answers

Answer 1

Answer:

Retained earning at end $1,357,521

Explanation:

To calculate retain earning at end, we need to calculate first the net profit or loss.

Sales

$1,307,700

Less: cost of goods sold

($783,400 - $84,810)

($698,590)

Less: Selling & administrative expenses ($70,400 + $57,500)

($127,900)

Gross profit.

$481,210

Add: Dividend revenue

$24,700

Profit before tax

$505,910

Tax ($505,910 × 34%)

$172,009

Less: Deduction of casualty loss

($46,800)

Tax liability

$125,209

Profit after tax

$505,910 - $125,209

= $380,701

Nash Corp. Statement of retained earning.

Retained earning(opening)

$1,018,730

Less : Dividend declared

($41,910)

$976,820

Add : Profit

$380,701

Retained earning at end $1,357,521


Related Questions

What is the current yield on a zero coupon bond with a remaining life of 4 years, a yield to maturity of 10.8%, and a par value of $1000

Answers

Answer:

$663.5

Explanation:

given that

number of years remaining = 4 years

yield to maturity ratio = 10.8% = 1.108

Par value = $1000

Current yield takes a look at the current price of a bond, instead of looking at it from a face value. That being said, it can be calculated mathematically as

Current yield = 1000 / 1.108^4

Current yield = 1000 / 1.507

Current yield = $663.5

Therefore, the current yield from the question we are given, is found to be $663.5.

I hope that helps

Wally's Walleyes wants to introduce a new product that has a start-up cost of $7,800. The product has a 2-year life and will provide cash flows of $4,500 in Year 1 and $4,300 in Year 2. The required rate of return is 15 percent. Should the product be introduced? Why or why not?

Answers

The calculated NPV is negative, indicating that the present value of expected cash flows does not exceed the start-up cost of the project. In other words, the project is expected to generate a net loss.

To determine whether Wally's Walleyes should introduce the new product, we can calculate the net present value (NPV) of the project. The NPV measures the present value of expected cash flows, taking into account the required rate of return.

To calculate the NPV, we need to discount the cash flows using the required rate of return (15 percent). The formula for calculating NPV is:

NPV = Cash Flow Year 1 / (1 + Required Rate of Return)^1 + Cash Flow Year 2 / (1 + Required Rate of Return)^2 - Start-up Cost

\(NPV = $4,500 / (1 + 0.15)^1 + $4,300 / (1 + 0.15)^2 - $7,800\)

\(NPV = $4,500 / 1.15 + $4,300 / (1.15)^2 - $7,800\)

NPV = $3,913.04 + $3,537.41 - $7,800

NPV = -$350.55

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do Businesses operate separately from society as a whole.

Answers

Businesses do not operate separately from society as a whole. In fact, businesses are an integral part of society and their operations can have significant impacts on various aspects of society, including the economy, the environment, and social issues.

Firstly, businesses are a key contributor to the economy of a society. They generate income, create jobs, and drive innovation, which in turn fuels economic growth and development. The success of businesses is closely tied to the health and well-being of the economy, and vice versa.

Secondly, businesses can have significant impacts on the environment. Their operations can result in pollution, depletion of natural resources, and other negative environmental effects. As such, businesses have a responsibility to operate in a sustainable manner, reducing their environmental impact and promoting sustainable practices.

Thirdly, businesses can also have an impact on social issues such as inequality, discrimination, and human rights. For example, businesses may choose to operate in a way that promotes diversity and inclusivity, or they may take steps to ensure that their operations do not contribute to human rights abuses or other negative social impacts.

In conclusion, businesses are an important part of society and their operations are closely interconnected with various aspects of society. As such, businesses have a responsibility to operate in a way that takes into account their impact on society as a whole, including the economy, the environment, and social issues. This is why many businesses are increasingly adopting corporate social responsibility (CSR) policies and practices, which aim to ensure that their operations are sustainable, socially responsible, and contribute positively to society.

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uses a periodic inventory system. The company has a beginning inventory of 350 units at $6 each on January 1. Hentertainment purchases 600 units at $5 each in February and 250 units at $7 each in March. There were no additional purchases or sales during the remainder of the year. Hentertainment sells 400 units during the quarter. If Hentertainment uses the LIFO method, what is its cost of goods sold

Answers

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Two carmakers have developed a strange but successful partnership. Ford, a U.S. automaker,and Mazda, an Asian carmaker, have collaborated on several models, including the Explorer, the Probe, the Mazda 323, and the Mazda MX-6. The U.S. automaker has supplied Mazda with help in marketing, finance, and styling. In return, Mazda has provided manufacturing and product development expertise to Ford. Both companies have worked together toward a common goal and both have benefited as a result of theirA. strategic alliance.B. international contract.C. free trade agreement.D. collaborative treaty.E. global oligopoly.

Answers

Answer:

A. strategic alliance

Explanation:

A strategic alliance refers to an agreement that is made between the two companies to work for accomplishing a common objective also in this the independence is there for working. It is less difficult and less binding as compared with the joint venture

Therefore in the given situation, it represents upon the strategic alliance and the same is to be considered

hence, the correct option is A.

how you been issued or are currently eligible for a form 1-551 permeanent resident card, also known as a green card by the u.s. citizenship and immigration services uscis?

Answers

The official name of your permanent residence card is Form I-551 (aka green card). Find out more about it and typical inquiries.

What does the green card I551 card number on the permanent residency card mean?

Your green card number is a 13-digit number that is printed on a permanent residence card and is also referred to as the receipt number. It also goes by the name "case number" because it identifies your particular immigration case. It may even be referred to as an I-551 receipt number in some circumstances.

What document, such as a PRC or I-551, serves as proof of your immigration status?

A green card is applied for using Form I-551. It serves as evidence of a foreign national's eligibility for permanent residence and employment in the United States. If you If you look closely, the current green card's backside has "I-551" printed in the upper left corner.

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1. What are the different types of economic measurements used to analyze most
economies?​

Answers

Answer:

Government borrowing/national debt.

Real disposable incomes.

Income inequality (Gini coefficient)

Labour productivity.

Investment levels.

Exchange rate.

Misery index (inflation rate + Unemployment rate)

Poverty levels.

Explanation:

hope this helps :)

and i did it on a test and got it right! pls make me Brainiest!!!!

sonic inc. manufactures two models of speakers, rumble and thunder. based on the following production and sales data for june, prepare (a) a sales budget and (b) a production budget: rumble thunder estimated inventory (units), june 1 284 91 desired inventory (units), june 30 326 79 expected sales volume (units): midwest region 3,650 4,100 south region 5,650 6,400 unit sales price $145 $205

Answers

Sonic inc. manufactures two models of speakers, rumble, and thunder. based on the following production and sales data for June, prepare a sales budget.

The sales budget may be a coming up with tool that enables corporations to manage resources and profits supported by expected sales. It takes into consideration previous sales patterns and budgets for similar time periods in order that every department will have a big-picture plan of wherever they stand financially. This helps companies be a lot of economical in reaching their goals and increasing their profit.

The sales budget is additionally priceless once it involves setting realistic targets. For instance, a sales team could have a sales goal of skyrocketing client subscriptions by fifty percent, however, the sales budget can keep expectations leveled by reflecting an annual increase of twenty %. This doesn’t mean fifty percent isn’t achievable; it merely implies that once budgeting supported revenue, the 50 percent ought to be a bonus, not an associated expectation.

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Where must food handlers dispose of waste water?

Answers

Answer:

Must be dispose in a sanitary sewer

Explanation:

Can not be in a storm drain or on surface ground

The food handlers dispose of waste water must be disposed into a sanitary sewer and never on the surface of the ground or in a storm drain.

Food that is safe to eat does not have any negative health effects after consumption. Consumers believe that the food they buy is safe and of the highest quality. The proper construction, maintenance, and operation of a food establishment protects the general public from unsafe food.

Queensland's food regulatory framework is in place to ensure that all food businesses address these issues, and there are severe penalties for food businesses that do not comply with the law.

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1. Demonstrate understanding of the value of auditing in an economy and theories explaining the demand for auditing;
2. Discuss the role of auditing and other assurance services in society and the public’s expectation for these services.
3. Describe issues associated with the audit of public sector, not-for-profit and small business entities.
4. Critically evaluate the professional, legal, ethical and regulatory framework within which audits and other assurance engagements are carried out,;
5. Discuss current developments in auditing.
6. Audits can be categorized into different types: Like; (1) financial statement audits, (2) compliance audits, (3) operational audits, and (4) forensic audits.
Required: For each of the following descriptions, indicate which type of audit (financial statement audit, compliance audit, operational audit, or forensic audit) best characterizes the nature of the audit being conducted. Also indicate which type of auditor (external auditor, internal auditor, government auditor, or forensic auditor) is likely to perform the audit engagement.
a. Determine the fair presentation of Ajax Chemical’s balance sheet, income statement, and statement of cash flows.
b. Review the payment procedures of the accounts payable department for a large manufacturer.
c. Examine the financial records of a division of a corporation to determine if any accounting irregularities have occurred.
d. Evaluate a company’s computer services department in terms of the efficient and effective use of corporate resources.
e. Audit the partnership tax return of a real estate development company.
f. Investigate the possibility of payroll fraud in a labor union pension fund.
g. Examine contractual agreements with bankers and other lenders to be sure the company is complying with legal requirements

Answers

1. Auditing plays important role by providing assurance and credibility to financial statements which enhances investor confidence and promotes efficient allocation of resources.

Why is auditing important for the economy?

Auditing is essential for the economy as it helps maintain trust and confidence in the financial information reported by businesses. By conducting independent assessments of financial statements, auditors provide assurance to stakeholders that the information is reliable and accurate.

This assurance is particularly valuable for investors, creditors, and other parties who rely on financial statements to make informed decisions. Auditing also helps detect and prevent fraud, mismanagement, and other financial irregularities and thereby safeguarding the integrity of the financial system.

2. Auditing and other assurance services play a vital role in society by providing independent evaluations of financial statements and other information enhancing the reliability and credibility of financial reporting.

3. Issues associated with the audit of public sector, not-for-profit, and small business entities include unique reporting requirements, limited resources etc.

4. The professional, legal, ethical, and regulatory framework surrounding audits and assurance engagements should be critically evaluated to ensure independence, competence, integrity, adherence to standards, and the protection of public interest.

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describe the two types of brakes fitted on a motor vehicle

Answers

Answer:

brakes

Explanation:

because they brake

Answer: disc and drum brakes

Explanation: There are two kinds of brakes that stop your vehicle while driving: disc and drum brakes. almost all vehicles come with emergency brakes and anti-lock brakes.

A baker recently has come to expect higher prices for bread in the near future. We would expect Group of answer choices the baker to supply more bread now than she was supplying previously. the baker to supply less bread now than she was supplying previously. the demand for bread to fall. no change in the baker's current supply of bread; instead, future supply will be affected.

Answers

Answer: the baker to supply less bread now than she was supplying previously

Explanation: Going by the concept of demand and supply with respect to price of goods and services which is a factor which affects these two economic phenomenon, When there is a perceived or possible rise in the price of goods and services, manufacturers in a bid to maximize profit, tends to hoard the available amount of goods available, by supplying the market below the usual amount. Conversely, when there is a perceived decline in future price, they tend to supply more than usual in other to reduce or minimize loss.

true/false. managers focus only on their own goals and the goals of the company and consider legal requirements as constants or barriers that are ignored when their corporate actions are implemented.

Answers

It is challenging to purchase stocks from foreign corporations because of the numerous legislative restrictions in place all around the world.

Firm is typically just defined as a legal entity unto itself, such as a corporation or a limited liability company (LLC). "The numerous legal obstacles that are present across the globe makes it difficult to purchase assets from abroad firms," the conclusion reads, is a factual assertion. Six organizational obstacles to setting goals There are six barriers to effective goal setting and plan formation in the organization, caused by both internal and external factors. Because they provide employees with a target to strive for and serve to motivate them to do so, goals are crucial to the effectiveness of an organization.

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Hey guys i dont know who to vote for plz give me suggestions and reasons why

Answers

Answer:

me ig im just trying to get more points and brainliest

Explanation:

also im nice :) when people are not rude to me

Filing Chapter 13 allows you to maintain a sound credit rating because
a. you stand free and clear of debt.
b. your possessions are used to pay your credit obligations.
C. you still fulfill your credit obligations.
d. none of the above.

Answers

Answer:

C. you still fulfill your credit obligations.

Explanation:

Under Chapter 13, your debts are reorganized but you still pay them back. Paying your debts later and after getting a court ordered deal is not the best possible scenario, but it is much better than not paying them back at all or simply liquidating assets and see what can be paid or not (Chapter 7).

2. In your own words reflect on how this project meets the Program and Institutional outcomes as stated on the first page.

Answers

a) Evaluate the significance of this project for your career prospects. b) Describe how this project satisfies the Program and Institutional outcomes outlined on the first page in your own words.

What exactly is a project portfolio?

A collection of programs and projects is referred to as a portfolio in project management. Other responsibilities and activities related to the project may also be included. Establishing centralized management and oversight for numerous programs and projects is the goal of a portfolio. The reflection will be provided as a Word document with one to two pages. For this thought: a) Evaluate the significance of this project for your career prospects. b) Describe how this project satisfies the Program and Institutional outcomes outlined on the first page in your own words.

Additionally, a portfolio aids in the establishment of uniform organizational governance.

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Marin Company leased equipment from Costner Company, beginning on December 31, 2019. The lease term is 8 years and requires equal rental payments of $56,394 at the beginning of each year of the lease, starting on the commencement date (December 31, 2019). The equipment has a fair value at the commencement date of the lease of $350,000, an estimated useful life of 8 years, and no estimated residual value. The appropriate interest rate is 8%.

Required:
Prepare Marin's 2019 and 2020 journal entries, assuming Marin depreciates similar equipment it owns on a straight-line basis.

Answers

Answer and Explanation:

The journal entries are shown below:

1. Right of use assets$350,000      ($56,394 × 6.2064)

           To lease liability  $350,000

(Being the lease liability is recorded)

Refer to the present value annuity due factor table for 6.2064

2. Lease liability $56,394

        To cash $56,394

(being cash paid is recorded)

3. Lease liability $32,905

   Interest expense  $23,489    {($350,000 - $56,394) × 8%}

            To Cash   $56,394

(Being cash paid is recorded)  

4. Amortization expense $43,750   {$350,000 ÷ 8 years)

         To Right of use asset $43,750

(Being the amortization expense is recorded)

Mr. Wiley owns a couple of houses. He lives in the better one. The other house he rents to the Jones family for $20,000 per year. By renting the newer and better house in which he chose to live, he could earn $35,000. Given this information, what would be the contribution of these two houses to U.S. GDP

Answers

Answer:

20,000

Explanation:

Only rented house is counted as per gdp

Let MAC1 = 100 – 10E and MAC2 = 50 – 10E. Graph each function and compute the aggregate MAC curve. Let MD = 30E, compute the socially efficient equilibrium. For the equations given above, suppose the government sets the pollution level at four units. What are the net social costs of this policy?
Suppose a technological change occurs that reduces the marginal costs of abatement for polluter 1 in the above equation to that of polluter 2. How does this affect the socially efficient level of pollution? Solve numerically and graphically.

Answers

If the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not impact the socially efficient level of pollution. The level is still determined by equating Marginal Damage with the Aggregate MAC.

To graph each function, we can plot MAC1 and MAC2 on a graph with the quantity of emissions (E) on the x-axis and the marginal abatement cost (MAC) on the y-axis.

For MAC1: MAC1 = 100 - 10E

For MAC2: MAC2 = 50 - 10E

To compute the aggregate MAC curve, we add the individual MAC curves together. So, Aggregate MAC = MAC1 + MAC2.

Aggregate MAC = (100 - 10E) + (50 - 10E) = 150 - 20E

Now, let's calculate the socially efficient equilibrium by setting the Marginal Damage (MD) equal to the Aggregate MAC.

MD = Aggregate MAC

30E = 150 - 20E

Simplifying the equation, we get:

50E = 150

E = 3

Therefore, the socially efficient equilibrium occurs when the quantity of emissions (E) is 3.

Now, let's calculate the net social costs of the policy when the government sets the pollution level at four units.

Net social costs = Aggregate MAC - MD

Net social costs = (150 - 20(4)) - (30(4))

Net social costs = 110 - 120

Net social costs = -10

The net social costs of this policy would be -10, indicating a net benefit to society.

If a technological change occurs that reduces the marginal costs of abatement for polluter 1 to that of polluter 2, it means that MAC1 will become equal to MAC2.

Setting MAC1 equal to MAC2:

100 - 10E = 50 - 10E

Simplifying the equation, we find that E can have any value, as both sides are equal.

Graphically, this change would mean that MAC1 and MAC2 become parallel lines on the graph, with the same slope and intercept. The socially efficient level of pollution would still be determined by equating MD with the aggregate MAC.

In conclusion, if the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not affect the socially efficient level of pollution. The socially efficient level is still determined by equating the Marginal Damage with the Aggregate MAC, regardless of the marginal costs of individual polluters.

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Trisha drew a blueprint of her bedroom, shown below. Her bedroom's blueprint dimensions are 6 inches by 5 inches.


If the scale of the blueprint is 1 inch = 2 feet, what are the actual dimensions of Trisha's bedroom?
Trisha drew a blueprint of her bedroom, shown below. Her bedroom's blueprint dimensions are 6 inches by 5 inches.


If the scale of the blueprint is 1 inch = 2 feet, what are the actual dimensions of Trisha's bedroom?

Answers

Explanation:

1 ft = 12 in

so, from 1 inch to 12 inches (1 ft) we have the scale factor 12.

from 1 ft to 2 ft we have an additional factor 2.

so, in total we have the scaling factor 2×12 = 24.

6 in × 5 in on the blueprint is then

6×24 × 5×24 = 144 in × 120 in = 12 ft × 10 ft

in reality.

Which of these stores uses fulfillment center?

A) Comet Dry Cleaner

B) Dunkin’ Donuts

C) Amazon

D) 7-11

Answers

The store which uses the fulfillment center is Amazon.

The order fulfillment center is seen as the customer of packaging, receptacles, or of the sections of canisters which it employs to maintain, safeguard, and contain the products which it packages. So, Fulfillment by Amazon (FBA) is a service which tends to allow businesses in order to outsource order fulfillment to Amazon.

Here, there are several business which send products to Amazon fulfillment centers and when a customer makes a purchase, we pick, we pack, and then we ship the order. Thus, they also provide customer service and process returns for the orders placed.

Hence, option C is correct.

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An appliance store sells 500 units of a particular type of dishwasher each year. The demand for this product is essentially constant throughout the year. The store orders its products from a regional supplier, and it typically takes two weeks for the dishwashers to arrive after an order has been placed. Each time an order is placed, an ordering cost of $1,000 is incurred. Each dishwasher costs the hardware store $300 and retails for $550. The store's annual cost of capital is estimated to be 7% per year.
Using the economic order quantity (EOQ) formula, determine the optimal order quantity

Answers

Answer:

161 units

Explanation:

Economic order quantity = √[(2 x annual demand x orderign cost) / annual holding cost per unit]

annual demand = 500 units

ordering cost = $1,000

holding cost = $550 x 7% = $38.50

EOQ = √[(2 x 500 x $1,000) / $38.50] = 161.16 units ≈ 161 units

Pro-forma FY+1 EPS for Amazon Inc. is expected to be: Review Later $45.71 $36.77 $50.00 $130.33

Answers

Option B. The Pro-forma FY+1 EPS for Amazon Inc. is expected to be 36.77 based on the calculation.

How to solve for the Pro-forma FY+1 EPS

The normalized net earnings = $23688

normalized net earnings of snap = -581

proforma adjustment = - 3134

Total proforma earning = 19973

Next we have to solve for the cost of acquisition

shares of snap * price of snap * (1 + premium)

= 1734 * 44.29 (1 + 20%)

cost of acquisition = $92158.63

Next is the cost financed by equity

= $92158.63 * 80 percent

= 73726.91 dollars

Next is to solve for the new price of the equity issue

= 3099.4 * (1 - 50%)

= 2944.43 dollars

Next is the number of new shares 73726.91 dollars / 2944.43

= 25.04

Total share after acquisition

shares outstanding + new shares

= 518 + 25.04

= 543.04

The EPS would be the next to solve for

this is gotten by the formula

total proforma / number of shares

= 19973 /  543.04

= 36.78

Hence the Pro-forma FY+1 EPS is going to be: $36.77

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complete question: check attachment

Pro-forma FY+1 EPS for Amazon Inc. is expected to be: Review Later $45.71 $36.77 $50.00 $130.33

Whirly Corporation’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (7,300 units) $ 233,600 $ 32.00 Variable expenses 146,000 20.00 Contribution margin 87,600 $ 12.00 Fixed expenses 55,300 Net operating income $ 32,300 Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 80 units? 2. What would be the revised net operating income per month if the sales volume decreases by 80 units? 3. What would be the revised net operating income per month if the sales volume is 6,300 units?

Answers

Answer:

Explanation:

To calculate the revised net operating income if the sales volume increases by 80 units, we need to calculate the contribution margin per unit first:

Contribution margin per unit = (Sales - Variable expenses) / Units sold

= ($233,600 - $146,000) / 7,300 units

= $87,600 / 7,300 units

= $12.00 per unit

The new sales volume will be 7,300 + 80 = 7,380 units.

The new net operating income will be:

Net operating income = (Sales - Variable expenses) - Fixed expenses

= ($32.00 x 7,380 units - $20.00 x 7,380 units) - $55,300

= $235,560 - $147,600 - $55,300

= $32,660

Therefore, the revised net operating income per month if the sales volume increases by 80 units is $32,660.

To calculate the revised net operating income if the sales volume decreases by 80 units, we can use the same approach as in part (1). The new sales volume will be 7,300 - 80 = 7,220 units. The new net operating income will be:

Net operating income = (Sales - Variable expenses) - Fixed expenses

= ($32.00 x 7,220 units - $20.00 x 7,220 units) - $55,300

= $230,240 - $144,400 - $55,300

= $30,540

Therefore, the revised net operating income per month if the sales volume decreases by 80 units is $30,540.

To calculate the revised net operating income if the sales volume is 6,300 units, we can use the same contribution margin per unit as in part (1):

Contribution margin per unit = $12.00 per unit

The new net operating income will be:

Net operating income = (Sales - Variable expenses) - Fixed expenses

= ($32.00 x 6,300 units - $20.00 x 6,300 units) - $55,300

= $201,600 - $126,000 - $55,300

= $20,300

Therefore, the revised net operating income per month if the sales volume is 6,300 units is $20,300.

7 habits of stephen coveys sharpening the saw
what is something you'd work on improving if you had the time?
what is the best way to balance your brain? body? heart? soul?
what are some ways you can keep your sw sharp while in school and then also in your profession?

Answers

Take some time each day to reflect on how you can be better in all aspects of your life, Make sure to set aside time to exercise.

What is life ?

Life is a journey that is unique to each individual. It is filled with highs and lows, successes and failures, joys and sorrows. Life is an opportunity to learn, grow, and experience new things. It is an adventure that can be filled with purpose and meaning, or filled with aimless wandering. Life is a funny thing - it can be taken for granted, but it is also precious and should be cherished.

Eating a healthy and balanced diet is essential for keeping your saw sharp, make sure to get enough sleep each night,reading helps to keep your mind sharp by exposing you to new ideas, make sure to set aside time to relax and unwind and staying connected.

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What general attitudes towards time can you expect when doing business with India, Mexico, France, Kenya and China?

Answers

India: Business in India generally operates on a relaxed schedule and deadlines may not be strictly adhered to.

Mexico: Mexican culture values punctuality but it is not as strict as in some other countries, appointments may start a bit later.

France: In France, time is considered valuable and punctuality is expected in business meetings.

Kenya: Kenya is a fast-paced business environment, with a good sense of urgency, but deadlines may not always be strict.

China: In China, punctuality is valued, but the pace of business can be more relaxed, and deadlines may be flexible.

What are general attitude towards business?

North America: North American businesses tend to be results-oriented and focused on efficiency, with a strong emphasis on individualism.

Europe: European businesses often place a strong emphasis on work-life balance and employee well-being, as well as a strong sense of corporate social responsibility.

Asia: Business attitudes in Asia vary greatly depending on the country, but many value relationships, hierarchy, and the importance of "saving face."

Latin America: Latin American businesses tend to prioritize personal relationships and networking, with a focus on building trust and rapport.

Africa: African businesses are often characterized by a strong entrepreneurial spirit and a focus on innovation, as well as a practical, problem-solving approach.

Attitudes towards business can vary greatly within regions, and these generalizations may not always apply.

Therefore, the correct answer is as given above

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An indirect distribution channel uses agents, wholesalers, and/or retailers.

Question 6 options:

True


False

Answers

The correct answer is True

Weakness of cardinal and ordinal utility

Answers

Cardinal utility is the utility that is quantified and measured numerically. In contrast, ordinal utility is a type of utility that is non-measurable and only identifies the preference order of the consumer.

The following are some of the limitations or weaknesses of the cardinal and ordinal utility approach:Weaknesses of Cardinal Utility:Cardinal utility has certain limitations, such as the following:It's impossible to determine the precise value of the utility. In cardinal utility, consumer satisfaction or happiness is measured in terms of units. However, it is difficult to assign a precise numerical value to utility because it is subjective and varies from person to person.

It assumes that the consumer is rational and can measure satisfaction. Cardinal utility analysis assumes that consumers are rational and can assign a value to their happiness, which may not be the case in practice. Consumers may have irrational preferences, and their satisfaction may be influenced by various psychological factors, making it difficult to measure or assign a value to it.

The law of diminishing marginal utility may not hold true. The concept of the law of diminishing marginal utility states that as we consume more units of a commodity, the marginal utility decreases, but this may not be the case in practice.

Weaknesses of Ordinal Utility:Ordinal utility has several limitations, including the following:It doesn't account for the intensity of preference. Ordinal utility only assesses the preference order of the goods, not the intensity of preference, which may differ from one consumer to another.It fails to establish the degree of satisfaction.

The ordinal utility approach only identifies the order of preference; it does not provide any information on the degree of satisfaction or happiness obtained from a commodity.There is no numerical value for the utility of a commodity. Ordinal utility cannot assign a numerical value to utility because it is a non-measurable concept.

Therefore, it is difficult to evaluate the level of satisfaction for each commodity, making it difficult to conduct mathematical analysis or quantitative analysis.

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Africanisation (how will you incorporate the learners culture or heritage into the contemporary socio-economic issues lesson

Answers

By incorporating culturally relevant examples, guest speakers, local data, cross-cultural comparisons, a multilingual approach, and artistic expressions, we can incorporate learners' culture or heritage into the contemporary socio-economic issues lesson.

To incorporate the learners' culture or heritage into a contemporary socio-economic issues lesson, it is important to create a culturally responsive and inclusive learning environment that recognizes and values the African context. Here are some strategies to achieve this:

Culturally Relevant Examples: Use examples and case studies from African countries or communities that relate to the socio-economic issues being discussed. This helps students connect with the content on a personal and cultural level, fostering engagement and understanding.

Guest Speakers and Community Involvement: Invite guest speakers from diverse African backgrounds who can share their experiences and perspectives on the socio-economic issues being studied. This provides authentic and firsthand insights into how these issues manifest in different African contexts.

Local Data and Research: Incorporate local data and research from African sources to illustrate the impact of socio-economic issues. This helps students see the relevance of these issues within their own communities and promotes a sense of ownership and empowerment.

Cross-Cultural Comparisons: Encourage students to explore and compare socio-economic issues between African countries, as well as with other regions of the world. This broadens their perspective, promotes critical thinking, and encourages understanding of global interconnections.

Multilingual Approach: Recognize and embrace the diversity of languages spoken by students. Incorporate key terms, discussions, and resources in various African languages, ensuring that students can engage with the content in their native languages and feel valued.

Art, Music, and Literature: Incorporate African art, music, and literature that address socio-economic issues. This helps students explore these topics through creative expressions that resonate with their cultural heritage.

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William sold Section 1245 property for $26,000 in 2022. The property cost $40,000 when it was purchased 5 years ago. The depreciation claimed on the property was $22,000.

If an amount is zero, enter "0".

Question Content Area
a. Calculate the adjusted basis of the property.


Question Content Area
b. Calculate the realized gain on the sale.


Question Content Area
c. Calculate the amount of ordinary income under Section 1245.


Question Content Area
d. Calculate the Section 1231 gain.

Answers

Both Section 1231 b and d gain and realized gain on the sale are the same, the answer to both is $8,000. The correct answer is option- b and d.

Given that William sold Section 1245 property for $26,000 in 2022. The property cost $40,000 when it was purchased 5 years ago. The depreciation claimed on the property was $22,000.

a. Calculate the adjusted basis of the property.The adjusted basis of the property is calculated as follows:

Adjusted basis of property = Original cost - Accumulated Depreciation$40,000 - $22,000 = $18,000

b. Calculate the realized gain on the sale.The realized gain on the sale is calculated as follows:Realized Gain = Amount realized on the sale - Adjusted basis of property$26,000 - $18,000 = $8,000

c.Calculate the amount of ordinary income under Section 1245.The amount of ordinary income under Section 1245 is calculated as follows:

Ordinary Income = Depreciation claimed on property $22,000

d. Calculate the Section 1231 gain.

Section 1231 gain is calculated as follows:Section 1231 Gain = Total sales price - Total adjusted basis of all 1231 assets$26,000 - $18,000 = $8,000

Since both Section 1231 gain and realized gain on the sale are the same, the answer to both is $8,000. The correct answer is option- b and d.

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