Master Business with Fun Quizzes & Brain Teasers!

Jaxon Furnishings Company is considering logging opportunities in Alaska to obtain wood for their products. The market analysis team is busy comparing the benefits of increased wood production to the costs of deforestation and resulting environmental conditions. The company is using the _____ approach to make this ethical decision.
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the team is struggling to agree on the story point sizing of a new user story. The PO was previously a related domain expert and feels the team is wasting time. What should he do?
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what are the salient characteristics attributes lifestyle skill and traits that have made you successful in this business?
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A divorced woman with 2 young children has a small trust fund that gives her $2,500 a year in income. She collects another $2,500 per year in alimony payments. The woman wishes to make a contribution to an Individual Retirement Account this year. Which statement is true?
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You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you have worked with accounting and other areas to gather the information assembled below.The company sells many styles of earrings, but all are sold for the same price- $13 per pair. Actual sales of earrings for the last three months and budgeted sales for the next six months follow (in pairs of earrings):January (actual)... 20,800 June (budget)... 50,800February (actual)... 26,800 July (budget)... 30,800March (actual)... 40,800 August (budget ... 28,800April (budget)... 65,800 September (budget) 25,800May (budget)... 100,800The concentration of sales before and during May is due to Mother's Day. Sufficient inventory should be on hand at the end of each month to supply 40% of the earrings sold in the following month.Suppliers are paid $7 for a pair of earrings. One-half of a month's purchases are paid for in the month of purchase; the other half is paid for in the following month. All sales are on credit, with no discount, and payable within 15 days. The company has found, however, that only 20% of a month's sales are collected in the month of sale. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been negligible.Monthly operating expenses for the company are given below:Variable:Sales commissions..................6% of salesFixed:Advertising.....................$199,200Rent................................17,200Salaries........................105,200Utilities.........................6,200Insurance......................2,200depreciation.................13,200Insurance is paid on an annual basis, in November of each year.The company plans to purchase $15,400 in new equipment during May and $39,200 in new equipment during June; both purchases will be for cash. The company declares dividends of $11,000 each quarter, payable in the first month of the following quarter.A listing of the company's ledger accounts as of March 31 is given below:AssetsCash.............................................................................$ 130,400Accounts Receivable($34,840 February sales; $424,320March Sales)................................. 459,1600Inventory...................................................................... 184,240Prepaid insurance......................................................... 21,800Property and equipment(net)....................................... 861,200Total Assets................................................................. $1,656,800Liabilities and Stockholders EquityAccounts Payable......................................................... $177,800Dividends Payable......................................................... 11,000Capital stock................................................................. 880,000Retained Earnings......................................................... 588,000Total liabilities and stockholders equity $1,656,800The company maintains a minimum cash balance of $55,000. All borrowing is done at the beginning of a month; any repayments are made at the end of a month.The company has an agreement with a bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. At the end of the quarter, the company would pay the bank all of the accumulated interest on the loan and as much of the loan as possible (in increments of $1,000), while still retaining at least $55,000 in cash.RequiredPrepare a master budget for the three-month period ending June 30. Include the following detailed budgets:a. A sales budget, by month and in totalb. A schedule of expected cash collections from sales, by month and in total.c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total.d. A schedule of expected cash disbursements for merchandise purchases, by month and in total.2. A cash budget. Show the budget by month and in total.
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Juan wants to be involved in business. He has plenty of capital to invest, but he does not want to be involved in management. He also does not want to worry about fluctuations in the market prices of debt and equity instruments. Which form of business would be best for Juan?A) Sole ProprietorshipB) CorporationC) LLCD) General Partnership
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Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply. a. Uncle Paul pays a domestic contractor for renovating his home. b. Aunt Jane buys a new house from a local builder. c. You purchase a box of Belgium chocolate. d. Ford manufactures a Focus and sells it to Avis, the car rental company. e. You pay a domestic plumber for fixing a leak in your bathroom. f. Ford sells a Mustang from its inventory to the Martinez family. g. California hires workers to repave Highway 101. h. The federal government sends your grandmother a Social Security check. 1. Consumption 2. Investment 3. Government Purchases 4. Net Exports
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A company needs $8 million in new capital for expanded composites manufacturing. It is offering small-denomination corporate bonds at a deep discount price of $800 for a 4% $1000 face value bond that matures in 20 years and pays the dividend semiannually. Find the nominal and effective annual rates, compounded semiannually, that this company is paying per investor
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Nueva Company reported the following pretax data for its first year of operations. Net sales 7,400 Cost of goods available for sale 5,610 Operating expenses 1,638 Effective tax rate 40 % Ending inventories: If LIFO is elected 627 If FIFO is elected 804 What is Nueva's net income if it elects FIFO
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Northern purchased the entire business of Southern including all its assets and liabilities for $682,500. Below is information related to the two companies: Northern Southern Fair value of assets $ 1,048,000 $ 797,000 Fair value of liabilities 580,000 320,000 Reported assets 811,000 647,000 Reported liabilities 496,000 257,000 Net Income for the year 56,000 51,000 How much goodwill did Northern pay for acquiring Southern
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Consider a lake found in the town of Center Barnstead, and then answer the questions that follow. The town has a hiking lodge whose visitors use the lake for recreation. The town also has a fish cannery that dumps industrial waste into the lake. This pollutes the lake and makes it a less desirable vacation destination. That is, the fish cannery's waste decreases the hiking lodge's economic profit.Suppose that the chemical plant could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the hiking lodge would no longer be affected. If the chemical plant uses the recycling method, then the chemical plant's economic profit is $1,400 per week, and the hiking lodge's economic profit is $2,700 per week. If the chemical plant does not use the recycling method, then the chemical plant's economic profit is $2,200 per week, and the hiking lodge's economic profit is $1,500 per week. These figures are summarized in the following table. Complete the following table by computing the total profit (the chemical plant's economic profit and the hiking lodge's economic profit combined) with and without recycling. Action Chemical Plant Hiking Lodge TotalNo recycling $2200 $1500 ______Recycling $1400 $2700 ______Total economic profit is highest when the recycling production method is:________
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the function of the marketing board
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Wrong Deck. Penny hires Jackson to paint the back deck on her house. She agrees to pay him $200 for the job and he accepts, sight unseen. They enter into the agreement on Tuesday, and he is to paint the deck on Saturday. When Jackson arrives, neither Penny nor her neighbor is at home. He mistakenly paints the neighbor's deck. Penny calls him the next day and asks him why he did not paint her deck. He informs her that he did paint the deck. It is then realized that he mistakenly painted the neighbor's deck. Penny tells him not to worry because the neighbor will be required to pay him. Jackson says that if the neighbor does not pay, he expects all of his funds from Penny. What was the status of the agreement between Jackson and Penny as of Tuesday when they agreed upon the price for the job?
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Q-mart failed to include inventory that was kept in a separate warehouse in its 12/31 end-of-the-period inventory count. Consequently, the ending inventory on 12/31 was understated on the balance sheet. Explain how this error will effect the income statement.Asset understatedEquity understated
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The information related to interest expense of Classic Music, Inc. is given belowNet income $264,000Income tax expense $107,000Interest expense $66,000Based on the above data, which of the following is the times-interest-earned ratio?A. 5.00 timesB. 4.08 timesC. 6 62 timesD. 4.00 times
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A Municipal Finance Professional (MFP) lives in State A. The MFP gives $200 to the election campaign of a personal friend who is running for Governor of State B. Which statement is TRUE? A The payment will not result in the employing firm being banned from doing municipal securities business with State B because the amount is below the $250 de minimis amount B The payment will not result in the employing firm being banned from doing municipal securities business with State B because it was made based on a personal relationship C The payment will not result in the employing firm being banned from doing municipal securities business with State B because it only applies to payments made in State A D The payment will result in the employing firm being banned from doing municipal securities business with State B
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Hemming uses a periodic inventory system. Assume that ending inventory is consists of 45 units from the March 14 purchase, 75 units from the July 30 purchase, and all 100 units from the October 26 purchase. Using the specific identification method, calculate the (a) the cost of goods sold and (b) the gross profit.
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The trial balance of Kroeger Inc. included the following accounts as of December 31, 2021: Debits Credits Sales revenue 8,340,000Interest revenue 56,000Gain on sale of investments 116,000 Gain on debt securities 138,000 Loss on projected benefit obligation 156,000Cost of goods sold 144,000Selling expense 740,000Goodwill impairment loss 520,000Interest expense 26,000General and administrative expense 460,000The gain on debt securities represents the increase in the fair value of debt securities and is classified a component of other comprehensive income. Kroeger had 300,000 shares of stock outstanding throughout the year. Income tax expense has not yet been recorded. The effective tax rate is 25%.Required: Prepare a 2021 separate statement of comprehensive income for Kroeger Inc.
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When your father was born 46 years ago, his grandparents deposited $450 in an account for him. Today, that account is worth $25,000. What was the annual rate of return on this account
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Consider two projects with the following cash flows: Project S is a 4 year project with initial (time 0) cash outflow of 3000 and time 1 through 4 cash inflows of 1500, 1200, 800 and 300 respectively. Project L is a 4 year project with initial (time 0) cash outflow of 3000 and time 1 through 4 cash inflows of 400, 900, 1300, and 1500 respectively. Assuming a 5% cost of capital, determine which project should be chosen if the projects are mutually exclusive.
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Based on the following information, compute cash flows from investing activities under GAAP. Cash collections from customers $800 Purchase of used equipment 200 Depreciation expense 200 Sale of investments 450 Dividends received 100 Interest received 200
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please discuss the similarities and differences between transformational and charismatic leadership. Choose an individual that qualifies as a charismatic or transformational leader and explain why. Also, in your analysis, what are some of the unique characteristics of this individuals followers that might identify him/her as charismatic or transformational
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what is the best career to go for?
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There are 1010 households in Lake Wobegon, Minnesota, each with a demand for electricity of Upper Q equals 60 minus Upper PQ=60P. Lake Wobegon Electric's (LWE) cost of producing electricity is TC equals 575 plus 2 Upper QTC=575+2Q. a. If the regulators of LWE want to make sure that there is no deadweight loss in this market, what price will they force LWE to charge? What will output be in that case? Calculate consumer surplus and LWE's profit with that price. (Round all responses to two decimal places.)
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