Exercise 10-10 Sunland Company Ltd. Publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Sunland sells 7,500 subscriptions for cash, beginning with the December issue. Sunland prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end. Prepare the entry in November for the receipt of the subscriptions
Answers
The journal entry in November for the receipt of the subscriptions would be as follows: Debit: Cash - $210,000, Credit: Unearned Subscription Revenue - $210,000
In November 2022, Sunland Company Ltd. sells 7,500 subscriptions for their monthly sports magazine, Fishing Preview, at a cost of $28 per year. Since the company prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter, we need to record the receipt of the subscriptions in November using the accounts Unearned Subscription Revenue and Subscription Revenue.
First, let's calculate the total cash received from the subscriptions:
7,500 subscriptions x $28 per year = $210,000
The journal entry in November for the receipt of the subscriptions would be as follows:
Debit: Cash - $210,000
Credit: Unearned Subscription Revenue - $210,000
This journal entry records the cash received from the 7,500 subscriptions and classifies it as unearned revenue since the company has not yet provided the service (i.e., delivering the magazines). Sunland Company Ltd. will recognize the Subscription Revenue at the end of the quarter when they prepare their financial statements.
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Related Questions
when comparing the direct write-off and allowance methods, which of the following statements applies to the direct write-off method? a.an allowance account is used. b.the expense is recognized when the account is written off rather than in the period of sale. c.primary users are large companies and those with a large amount of receivables. d.the result is based on either (1) a percentage of sales or (2) an analysis of receivables.
Answers
When comparing the direct write-off and allowance methods, the statement that applies to the direct write-off method is B) the expense is recognized when the account is written off rather than in the period of sale.
The direct write-off method and allowance method are both used for accounting for uncollectible accounts. However, they have different approaches when it comes to recognizing the bad debt expense.
The direct write-off method, as mentioned, recognizes the expense when the account is deemed uncollectible and written off. This means that the bad debt expense is recorded only when the company is sure that the receivable cannot be collected. This method is typically used by small businesses or those with a limited number of receivables.
On the other hand, the allowance method is based on either (1) a percentage of sales or (2) an analysis of receivables. This method creates an allowance for doubtful accounts, which is a contra-asset account that reduces the total receivables on the balance sheet. Under this method, the bad debt expense is estimated and recorded in the same period as the sale, adhering to the matching principle in accounting. This method is primarily used by large companies and those with a large amount of receivables.
In summary, the main difference between the direct write-off method and the allowance method is the timing of recognizing the bad debt expense. The direct write-off method recognizes the expense when the account is written off, while the allowance method recognizes the expense in the same period as the sale. The allowance method is more widely used, especially by large companies with a significant amount of receivables.
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pardo company produces a single product and has capacity to produce 150,000 units per month. costs to produce its current monthly sales of 120,000 units follow. the normal selling price of the product is $102 per unit. a new customer offers to purchase 30,000 units for $64.80 per unit. if the special offer is accepted, there will be no additional fixed overhead and no additional fixed general and administrative costs. the special offer would not affect its normal sales. per unit costs at 120,000 units direct materials $ 12.50 $ 1,500,000 direct labor 15.00 1,800,000 variable overhead 13.00 1,560,000 fixed overhead 17.50 2,100,000 fixed general and administrative 14.00 1,680,000 totals $ 72.00 $ 8,640,000 (a) compute the income from the special offer. (b) should the company accept the special offer?
Answers
a) Income from the special offer: $1,944,000 - $2,160,000 = -$216,000. b) it should not accept the offer, as it would result in a net loss for the company.
(a) To compute the income from the special offer, we need to compare the cost of producing 30,000 units with the revenue generated by selling them at the special price of $64.80 per unit.
Cost to produce 30,000 units:
Direct materials: $12.50 × 30,000 = $375,000
Direct labor: $15.00 × 30,000 = $450,000
Variable overhead: $13.00 × 30,000 = $390,000
Fixed overhead: $2,100,000 / 120,000 × 30,000 = $525,000
Fixed general and administrative: $1,680,000 / 120,000 × 30,000 = $420,000
Total cost: $2,160,000
Revenue from selling 30,000 units at $64.80 per unit: $64.80 × 30,000 = $1,944,000
Income from the special offer: $1,944,000 - $2,160,000 = -$216,000
(b) Based on the calculations in part (a), the company would actually lose $216,000 if it accepted the special offer. Therefore, it should not accept the offer, as it would result in a net loss for the company.
The company would be better off producing and selling its normal monthly sales of 120,000 units at the normal selling price of $102 per unit, as this would generate a profit.
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Answer the qwustion and show your work and provide a detailed
explanation as to why that answer is correct (letter d is wrong).
Answers
The question asks for an explanation of the given question.
The given question requests an explanation, which means providing a detailed account or description of the question. In this context, an explanation would involve breaking down the components of the question, examining its structure, and offering insights into its purpose and relevance.
Explaining a question typically involves analyzing its underlying concepts, identifying any key terms or assumptions, and providing a clear and comprehensive response that addresses the question's intent. It often requires breaking down complex ideas into simpler terms, providing examples or evidence to support the answer, and ensuring the response is logical and coherent.
By explaining the given question, we can enhance understanding, clarify any uncertainties, and provide a thorough response that satisfies the inquiry. It allows for a deeper exploration of the topic at hand and provides the necessary context for a meaningful and informed discussion.
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________ innovation is based on the conviction that new products and consumer solutions can successfully emerge only from inside the organization. marketing
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Marketing innovation is based on the conviction that new products and consumer solutions can successfully emerge only from inside the organization.
What is marketing innovation?Marketing innovation is a term used to refers to how the new products can be used to convince the consumer so they can buy it.
It is based on the organization can comes up with better idea to win heart of consumer.
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Define scarcity, choice, and opportunity cost and explain how
they are related and why they are so essential in the study of
economics.(20 marks) (800 words)
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Scarcity is a problem that arises due to limited resources relative to human wants. Choice is an individual decision to pick an option among the available alternatives.
Scarcity necessitates choice because it forces the decision-maker to choose between different alternatives. Given that resources are scarce, one must choose between the available alternatives. Choices, in turn, result in opportunity cost. By selecting one option.
Opportunity cost is a critical concept in economics because it quantifies the value of the best alternative foregone. It helps the decision-maker in weighing the cost and benefits of various options available. For example, when a farmer decides to use land to plant maize.
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A new business should be based on an entrepreneur's individual interests because the entrepreneur must...
A. have sufficient confidence to succeed.
B. be willing to take personal responsibility.
C. have enough determination to work alone.
D. dedicate as many hours as needed to the work.
Will mark brainliest!
Answers
Answer:
A.................
Explanation:
look at my pokemon
Answer:
D
Explanation: because i said so but it might not be right
Which of the following is not an additional tax a taxpayer may have to pay? Multiple Choice Alternative minimum tax. Self-employment tax Net investment income tax Excess wage tax.
Answers
Excess wage tax. Excess wage tax is not an additional tax that a taxpayer may have to pay. The alternative minimum tax (AMT) is a separate tax system that imposes a minimum level of tax liability on certain taxpayers.
Self-employment tax is a tax that individuals who work for themselves must pay to fund Social Security and Medicare. Net investment income tax is a tax imposed on certain types of investment income for high-income individuals. However, there is no specific tax called "excess wage tax." It is important for taxpayers to be aware of these potential additional taxes and understand their applicability based on their income sources and circumstances.
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You have decided to use the questioning technique as part of your method study. Explain to your management what the primary questioning technique is, how the sequence works and what you expect to achieve. 9 marks
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The primary questioning technique I have chosen to use in our method study management is the "Five Whys" technique. This technique involves asking a series of "why" questions to get to the root cause of a problem or issue.
1) Ask the first "why": This question aims to understand the immediate cause of the problem. For example, if the problem is a machine breakdown, we would ask, "Why did the machine break down?"
2) Ask the second "why": With the answer to the first question, we delve deeper into the underlying cause of the problem. Continuing the previous example, we would ask, "Why did the machine experience that particular issue?"
3) Ask the third "why": This question explores the underlying cause behind the second answer. It helps to identify the factors that contributed to the issue. For instance, we would ask, "Why did those particular factors lead to the machine problem?"
4) Ask the fourth "why": Here, we dig even deeper into the systemic or organizational causes that contributed to the previous answers. The aim is to identify any broader issues that may be at play. For example, we would ask, "Why were those factors present in our organization or system?"
5) Ask the fifth "why": Finally, we aim to uncover the fundamental cause or root cause of the problem. This question helps us understand the ultimate reason behind the issue. Continuing the example, we would ask, "Why did the organizational or systemic factors exist in the first place?"
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The chair company provides a 120-day parts-and-labor warranty on all merchandise it sells. the chair company estimates the warranty expense for the current period to be $2,650. during the period a customer returned a product that cost $1,830 to repair.Required:Show the effects of these transactions on the financial statements using a horizontal statements model.
Answers
The warranty expense of $2,650 is recorded on the income statement, while the balance sheet reflects a remaining warranty liability of $820 after the $1,830 repair cost is deducted.
1. Estimating Warranty Expense:
When the Chair Company estimates the warranty expense for the current period to be $2,650, it will record this amount as an expense on the income statement and also create a warranty liability on the balance sheet.
Income Statement:
Warranty Expense: +$2,650
Balance Sheet:
Warranty Liability: +$2,650
2. Repairing a Customer's Returned Product:
When a customer returns a product and it costs $1,830 to repair, the company will use the warranty liability to cover this expense. The warranty liability will decrease by $1,830, and the repairs expense will be recorded on the income statement.
Income Statement:
Repairs Expense: +$1,830
Balance Sheet:
Warranty Liability: -$1,830
After these transactions, the Chair Company's financial statements using the horizontal statements model would show the following:
Income Statement:
Warranty Expense: +$2,650
Repairs Expense: +$1,830
Balance Sheet:
Warranty Liability: +$2,650 - $1,830 = $820
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How does digital revolution change the way business is done and information is collected?
Answers
The digital revolution has had a profound impact on the way businesses are done and information is collected.
Some keyways in which it has changed the business landscape include:
E-commerce: The rise of e-commerce has made it easier for businesses to reach customers and sell products online. Online marketplaces like Amazon and eBay have transformed the retail industry, while platforms like Shopify and WooCommerce have made it easier for small businesses to sell online.
Data and analytics: The digital revolution has led to an explosion of data, which businesses can use to gain insights into consumer behavior and preferences. With advanced analytics tools, businesses can process and analyze large amounts of data to make informed decisions about their operations and marketing strategies.
Communication and collaboration: The rise of digital communication tools has made it easier for businesses to collaborate and communicate with customers, employees, and partners.
Mobile technology: The widespread adoption of smartphones and tablets has made it possible for businesses to reach customers and employees on the go.
Automation and AI: The digital revolution has brought about new tools and technologies that automate many manual processes and make it possible to process and analyze large amounts of data in real-time.
Overall, the digital revolution has transformed the way businesses operate, making it possible to reach customers, gather and analyze data, collaborate and communicate, and automate many processes. The result is a more connected, data-driven, and efficient business environment.
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How should you dress for a phone interview? (Site 1)
online content
Answers
Answer:
You should at least have a nice top on because only the camera will see that. If you are a girl you could just wear a dress, probably a black one because that is what I wore to my interview yesterday because there is no pattern or anything it's just a plain black one, but that was in person. if you're a guy you need to wear a suit and tie,but you could probably just wear shorts because they won't see the bottom half of you
Explanation:
I hope this helps out a little bit :-)
An interview is a formal process by which an employee is assessed for his/her performance by the employer.
For a phone interview, one should be dressed properly as the interviewer can see you through the camera.
For a girl, you should be dressed nicely and no revealing or extra shiny clothes should be wore.
In the case of a man, one should be properly dressed in suits or formal shirts.
Try to wear dark black or blue coloured clothes and sit in a properly lighted area.
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Friedman's argument for shareholder primacy is based in:_______
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Friedman's argument for shareholder primacy is based in the belief that a corporation's primary responsibility is to its shareholders, who have invested their money and therefore have a financial stake in the company's success.
Shareholder primacy is a theory that suggests that the main goal of a corporation should be to maximize shareholder value. This means that the corporation should prioritize the interests of its shareholders over other stakeholders, such as employees, customers, suppliers, and the community in which it operates. He argues that the goal of the corporation should be to maximize profits and increase shareholder value, rather than pursuing social or environmental objectives that may not directly benefit shareholders. This view is often referred to as the "shareholder primacy" model of corporate governance.
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The XYZ Company has sales of $2,500,000, a gross profit margin of 20%, operating expenses (excluding depreciation) of $250,000, depreciation expense of $40,000, interest expense of $60,000, taxes of $50,000 and dividends paid of $20,000. What is XYZ's net profit? a) $60,000. b) $80,000. c) $100,000. d) $1,600,000. e) None of the above.
Answers
XYZ Company's net profit can be calculated by subtracting the total expenses (including operating expenses, depreciation expense, interest expense, taxes, and dividends paid) from the gross profit.
To calculate XYZ Company's net profit, we need to follow these steps:
1. Calculate the gross profit by multiplying the sales by the gross profit margin:
Gross profit = Sales * Gross profit margin
Gross profit = $2,500,000 * 0.20
Gross profit = $500,000
2. Calculate the total expenses by adding the operating expenses, depreciation expense, interest expense, taxes, and dividends paid:
Total expenses = Operating expenses + Depreciation expense + Interest expense + Taxes + Dividends paid
Total expenses = $250,000 + $40,000 + $60,000 + $50,000 + $20,000
Total expenses = $420,000
3. Calculate the net profit by subtracting the total expenses from the gross profit:
Net profit = Gross profit - Total expenses
Net profit = $500,000 - $420,000
Net profit = $80,000
Therefore, XYZ Company's net profit is $80,000. The correct option is b) $80,000.
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Blossom Company is considering an investment that will return a lump sum of $850,000 3 years from now. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Blossom Company pay for this investment to earn an 6% return? (Round answer to 2 decimal places, e.g. 25.25.)
Answers
Ale jak się okazało w Polsce dniu narty nie skierowane to dniu tym świecie i jest ogóle nie ma problemu z tym że nie ma przecieku co w wszystko jutrzejszym terminie
the effect of capitalizing a cost that should have been expensed causes ______.
Answers
The effect that capitalization of the cost that supposed to be expensed will have is that; The assets will have to be overstated on the balance sheet, while we have to understate the expenses.
A capitalized cost can be regarded as expense that is been added to the cost basis of a fixed asset when working on a balance sheet of a company.It is usually incurred during purchasing of fixed assets.We can conclude that an asset will need to be overstated once there is capitalization of cost.
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The only exception to the even/odd rule used to determine the direction of rotation in a gear drive is for __________ gear drives.
multiple
compound
reduction
idler
Answers
The only exception to the even/odd rule used to determine the direction of rotation in a gear drive is for the idler gear drives.
A gear drive is a machine component that transfers torque from one part of the machine to another. Gears and gear trains are two examples of gear drives.
Gears, which are used to generate motion and power transmission, are one of the most essential components of many mechanical devices.
An idler gear drive is a gear drive that uses an idler gear to change the direction of rotation of the output shaft by 90 degrees. It's also known as a right angle gear drive. The idler gear has no effect on the gear ratio, and it only acts as a reversing gear in these gear drives.
The direction of rotation in gear drives is generally determined by the even/odd rule. The even number of gears causes the driver and driven gears to rotate in the same direction.
The opposite is true for odd numbers of gears. There is, however, an exception to this rule, which is when it comes to idler gear drives.
The idler gear drives, as previously mentioned, use an idler gear to redirect the direction of the output shaft's rotation.
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Does anyone know were I can find all the answers to EverFI
Answers
Which best compares and contrasts the teaching and training careers and the professional support careers?
A) Both careers try to support student success; however, teaching and training careers involve direct instruction of students.
B) Both careers help students learn; however, teaching and training careers are involved in running the school.
C) Both careers are increasing the number of available jobs; however, professional support career earns less money.
D) Both careers have support careers; however, professional support careers assist in the classroom.
Answers
Answer:
A) Both careers try to support student success; however, teaching and training careers involve direct instruction of students.
Explanation:
Professional support careers help people involved in education and training systems with personal and family needs, educational goals, mental health assistance, and career decision-making. They provide support and encouragement to students undergoing challenging experiences. Professional support career titles include counselors and Psychologists, among others.
Teachers and trainers offer instructions to students in the class or other conducive places. They help students complete their syllabus, learn intended materials, acquire knowledge, and pass their examinations.
Answer: ITS A
Explanation:CORRECT ON EDGE 2020
An analysis of what happens to the estimate of net present value when only one input variable is changed is called _____ analysis.
Answers
The analysis of what happens to the estimate of net present value when only one input variable is changed is called sensitivity analysis.
Sensitivity analysis is a technique used in financial and investment analysis to assess the impact of variations in input variables on the calculated NPV. It helps evaluate how changes in specific factors or assumptions can affect the overall financial outcome of a project or investment. In sensitivity analysis, one input variable is altered at a time while keeping other variables constant, allowing analysts to observe the resulting changes in the estimated NPV.
This analysis provides insights into the sensitivity of the NPV to variations in individual factors, enabling decision-makers to assess the risks and uncertainties associated with the project or investment.
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What is an application letter?
A: An application letter is used to apply for a specific job and includes keywords from the job posting.
B: An application letter describes in detail your schooling, work experience, and any other experience.
C: An application letter summarizes your intern experience for potential employers.
D: An application letter is used to inquire about open positions or positions that may open in the near future
Answers
Answer:
A: An application letter is used to apply for a specific job and includes keywords from the job posting.
Explanation:
The application letter is the letter in which the employee apply for the particular job to the employee for expressing the interest in the position posted by the employer.
Also it is known as cover letter
Therefore according to the given options the first option is appropriate for the application letter
Answer:
A: An application letter is used to apply for a specific job and includes keywords from the job posting. (apex)
sport directs and British Heart Foundation: mission, vision, and values.
Answers
Our British goal is to create a world without the worry of cardiovascular and Foundation circulation conditions. These illnesses destroy the hearts mission of millions of families and claim the lives of 1 in 4 people.
We intend to alter that. In order to permanently defeat sadness, we raise money for research into treatments and Foundation cures. According to the BBC's Royal Charter, its purpose is to act in the public interest mission while providing all audiences with objective, outstanding, and distinctive products and services that inform, educate, and amuse them. The British Heart Foundation Society seeks to promote the charity and raise funds for it.
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Your father loans you $12,000 to make it through your senior year. His repayment schedule requires payments of $1401.95 at the end of year for the next 15 years. What interest rate is he charging you
Answers
Provides a loan at the rate of interest is 8% per annum.
What is a Rate of Interest?The interest rate is the amount charged on top of the principal by a lender to a borrower for the use of assets generally chargeable on year bases.
Given,
Loan Amount = $12,000
Instalment payment = $1401.95
Time period = 15 years
Required to calculate Rate of Interest
The calculation of the Rate of Interest is shown in the image given below:
Thus, we get an 8% rate of interest after calculating the above figure. gives a loan of 8% per annum.
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Reinvesting cash flow allows a firm produce additional products and generate additional sales.
O True
O False
Answers
need help on econ please and thank you
Answers
Answer:
1. Bonds
2. Property
3. Mutual Funds
4. Starting a business
Explanation:
ROTO
Jbel and Los are having a disagreement over one of the stock investments, which just lost 15 percent in a short period of time. Le has a very high but he has a low c
What would be argue (Sport)
O amore stock at the lower price
Hang onto the stock until the price climbs again
Sel half of the stand invest in a more relable company
O Sel all of the stock bere
es more value
Answers
Jbel may argue that they should hold onto the stock until the price climbs again, as there is potential for the stock to increase in value in the future.
What is argue?Argue is a form of communication expressed through discussion, debate, and reasoning. It is a way of presenting a point of view and trying to convince others to agree with it. When people argue they use facts, logic, and sometimes emotion to support their position. Arguing is an important form of communication, as it allows people to discuss differing opinions in a respectful and productive manner. It is used to resolve conflicts or make decisions on certain topics. In addition, arguing allows people to understand and appreciate different perspectives, and it can promote critical thinking.
Le may argue that they should sell half of the stock and invest in a more reliable company, as the stock has already lost 15 percent in a short period of time and there is no guarantee that the stock price will increase. Alternatively, Le may suggest selling all of the stock altogether, as this provides the greatest potential for a return on the investment.
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what cycle time would match capacity and demand if demand is 172 units a day, there are 1 shift(s) of 457 minutes each, and workers are given two 30 minute breaks during each shift, one of which is for lunch or dinner?
Answers
A cycle time of 2.31 minutes per unit would match the capacity and demand given the available work time and number of workers.
To determine the cycle time that would match capacity and demand, we first need to calculate the available minutes per shift.
With one shift of 457 minutes and two 30-minute breaks, the total available work time per shift is:
457 minutes - 30 minutes (break) - 30 minutes (lunch/dinner) = 397 minutes
Next, we need to determine the capacity of each worker per shift. Assuming a constant cycle time for each unit, the capacity per worker can be calculated as:
Capacity = Available Minutes per Shift / Cycle Time
We can rearrange this equation to solve for cycle time:
Cycle Time = Available Minutes per Shift / Capacity
Assuming we have enough workers to meet the demand of 172 units per day, we can calculate the total capacity required as:
Total Capacity = Demand / Number of Shifts
In this case, we have one shift, so:
Total Capacity = 172 units / 1 shift = 172 units per shift
Finally, we can calculate the cycle time that matches this capacity and demand by plugging in the values we've calculated:
Cycle Time = 397 minutes / 172 units per shift = 2.31 minutes per unit
So a cycle time of 2.31 minutes per unit would match the capacity and demand given the available work time and number of workers.
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later on today, you will receive an annual dividend of $2.50 a share on abc stock. the dividend is expected to increase by 2 percent annually thereafter. which formula should be used to compute the value of the stock today if the discount rate is 14 percent?
Answers
A stock, also known as a share or equity, represents a unit of ownership in a company. When a company issues stocks, it is selling a portion of the company to investors in exchange for capital.
What is share?A share, also known as a stock or equity, represents a unit of ownership in a company. When a company issues shares, it is selling a portion of the company to investors in exchange for capital. Each share represents a claim on the company's assets and earnings. Shareholders, or owners of shares, are entitled to a portion of the company's profits, as well as the right to vote on certain company matters. The value of a share is determined by the market and can fluctuate based on a variety of factors such as the company's financial performance, industry conditions, and overall market conditions. Additionally, dividends are commonly paid to shareholders as a portion of the company's earnings.
The formula that should be used to compute the value of the stock today if the discount rate is 14 percent is the Gordon growth model formula:
V0 = D1 / (r - g)
Where:
V0 = value of the stock today
D1 = annual dividend of $2.50 a share
r = discount rate of 14%
g = expected annual dividend growth rate of 2%
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what do you pore first the cereal or the milk? True or false.
Answers
The adjusted trial balance of Sheffield Corp. At December 31, 2020, includes the following accounts: Common Stock $17,900, Dividends $7,900, Service Revenue $37,700, Salaries and Wages Expense $16,300, Insurance Expense $2,000, Rent Expense $3,700, Supplies Expense $1,800, and Depreciation Expense $1,500.
Prepare an income statement for the year
Answers
Financial statements include the income statement. Additionally, it displays the company's financial performance for the time period by displaying the total revenue and subtracting the total expenses to get at the net income.
Amounts
Service Revenue $37,700
Less: Salaries and Wages Expense $16,300
Insurance Expense $2,000
Rent Expense $3,700
Supplies Expense $1,800
Depreciation Expense $1,500
Operating Income $16,300
Only the revenue and expenses for the period are shown in the income statement. One of a company's financial accounts, an income statement, commonly referred to as a profit and loss account, lists the revenues and expenses for a specific time period. It describes the process through which revenues are converted into net income or net profit.
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Why is Vanguard’s CEO Tim Buckley viewing innovation as vitality important to Vanguard’s future? What recommendations would you have for Mr. Buckley to leverage innovation for competitive advantage? Be specific.
Answers
Vanguard's CEO Tim Buckley is viewing innovation as vital to the company's future because he understands that innovation is essential for staying relevant in today's rapidly changing business landscape.
Vanguard is in the financial services industry, which has seen significant disruption and competition from new fintech players. To stay competitive, Vanguard needs to continuously innovate and offer new products and services to meet changing customer needs.
Here are some specific recommendations to leverage innovation for competitive advantage:
Foster a culture of innovation: Vanguard should create a culture that encourages employees to generate and implement new ideas. This can be done by establishing an innovation lab or incubator program that provides resources and support for employees to develop and test new ideas.Invest in technology: Vanguard should invest in cutting-edge technology, such as artificial intelligence, machine learning, and blockchain, to enhance its operations and customer experience. By leveraging these technologies, Vanguard can automate processes, reduce costs, and provide more personalized services to customers.Embrace partnerships: Vanguard should collaborate with fintech startups, universities, and other organizations to leverage their expertise and innovation. By partnering with these entities, Vanguard can access new ideas, technologies, and customer segments.Develop new products and services: Vanguard should continuously develop and launch new products and services that meet the changing needs and preferences of its customers. This can be done by conducting market research and customer surveys to identify emerging trends and opportunities.By implementing these recommendations, Vanguard can stay ahead of the curve and continue to be a leader in the financial industry.
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