1) What explains the fall in inequality from 2002 to 2010 in Latin America? In your answer be sure to explain the reasons for the changes in returns to education.
2) Why did the Latin America experience with industrialization from Word War I until World War II lead Latin American Structuralists to believe that it was necessary to limit imported manufacturing into Latin America?
In: Economics
| Month | May | June | July | August | September | October | November | December | January |
| Sales | 350 | 350 | 250 | 250 | 350 | 550 | 650 | 750 | 650 |
| Collections | |||||||||
| month 0: 80%*95% | |||||||||
| month -1: 15% | |||||||||
| month -2: 5% | |||||||||
| Payments | |||||||||
| Purchase - 70% of next month sales | |||||||||
| Purchase payment - 50% of current month purchase | |||||||||
| Purchase payment - 50% of last month purchase | |||||||||
| Lease payment | 10 | 10 | 10 | 10 | 10 | 10 | |||
| construction | 0 | 0 | 0 | 60 | 0 | 0 | |||
| wages | 30 | 30 | 40 | 50 | 70 | 80 | |||
| other | 5 | 5 | 5 | 5 | 5 | 5 | |||
| taxes | 0 | 0 | 30 | 0 | 0 | 50 | |||
| Net Cash Flow | |||||||||
| cumulative cash | 50 | ||||||||
| Target Cash Flow | 10 | 10 | 10 | 10 | 10 | 10 | |||
| Surplus/Shortage | |||||||||
| find out collections, month 1, month 2, purchase 70 % of next month sales, purchase payment 50% of current month purchase, purchase payment 50% of last month purchase payment, net cash flow, cumilative cash, surplus/shortage. please provide me an formulae so that i can do it in excel. |
In: Finance
8. Peter Griffin calculates that his portfolio's risk, as measured by the standard deviation, is 19.67%. His portfolio is made up of many stocks from just two companies, South Park Company and Quahog Company. South Park Co.'s returns have a standard deviation of 12.9% and Quahog Co.'s returns have a standard deviation of 28.84%. If the weight of Quahog Co. in his portfolio is 48.21%, what is the correlation between the returns of Quahog and South Park.
9.
A portfolio has an excess return of 15.9 % and a standard deviation of 15.23 %. What is the Sharpe Ratio for this portfolio?
In: Finance
Read Naomi Wulf’s “The Politics of Past and Progress in Jacksonian America.”
What were the most significant changes occurring in America as the nation transitioned from the early years of the Republic to the Age of Jacksonian Democracy? What were the greatest struggles? Does the nation continue to have many of the same debates today?
In: Economics
The following selected transactions were completed by Capers Company during October of the current year:
| Oct. | 1 | Purchased merchandise from UK Imports Co., $13,322, terms FOB destination, n/30. |
| 3 | Purchased merchandise from Hoagie Co., $10,650, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $240 was added to the invoice. | |
| 4 | Purchased merchandise from Taco Co., $13,700, terms FOB destination, 2/10, n/30. | |
| 6 | Issued debit memo to Taco Co. for $4,850 of merchandise returned from purchase on October 4. | |
| 13 | Paid Hoagie Co. for invoice of October 3. | |
| 14 | Paid Taco Co. for invoice of October 4 less debit memo of October 6. | |
| 19 | Purchased merchandise from Veggie Co., $29,840, terms FOB shipping point, n/eom. | |
| 19 | Paid freight of $410 on October 19 purchase from Veggie Co. | |
| 20 | Purchased merchandise from Caesar Salad Co., $22,200, terms FOB destination, 1/10, n/30. | |
| 30 | Paid Caesar Salad Co. for invoice of October 20. | |
| 31 | Paid UK Imports Co. for invoice of October 1. | |
| 31 | Paid Veggie Co. for invoice of October 19. |
Journalize the entries to record the transactions of Capers Company for October. Refer to the Chart of Accounts for exact wording of account titles.
JOURNAL
ACCOUNTING EQUATION
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In: Accounting
Purchase-Related Transactions Using Perpetual Inventory System
The following selected transactions were completed by Capers Company during October of the current year:
| Oct. 1. | Purchased merchandise from UK Imports Co., $13,891, terms FOB destination, n/30. |
| 3. | Purchased merchandise from Hoagie Co., $9,600, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $200 was added to the invoice. |
| 4. | Purchased merchandise from Taco Co., $12,350, terms FOB destination, 2/10, n/30. |
| 6. | Issued debit memo to Taco Co. for $4,950 of merchandise returned from purchase on October 4. |
| 13. | Paid Hoagie Co. for invoice of October 3. |
| 14. | Paid Taco Co. for invoice of October 4, less debit memo of October 6 and discount. |
| 19. | Purchased merchandise from Veggie Co., $29,480, terms FOB shipping point, n/eom. |
| 19. | Paid freight of $425 on October 19 purchase from Veggie Co. |
| 20. | Purchased merchandise from Caesar Salad Co., $21,200, terms FOB destination, 1/10, n/30. |
| 30. | Paid Caesar Salad Co. for invoice of October 20. |
| 31. | Paid UK Imports Co. for invoice of October 1. |
| 31. | Paid Veggie Co. for invoice of October 19. |
Required:
Journalize the entries to record the transactions of Capers Company for October.
For a compound transaction, if an amount box does not require an entry, leave it blank.
| Oct. 1 | |||
| Oct. 3 | |||
| Oct. 4 | |||
| Oct. 6 | |||
| Oct. 13 | |||
| Oct. 14 | |||
| Oct. 19 | |||
| Oct. 19 | |||
| Oct. 20 | |||
| Oct. 30 | |||
| Oct. 31 | |||
| Oct. 31 | |||
In: Accounting
Purchase-Related Transactions Using Perpetual Inventory System
The following selected transactions were completed by Capers Company during October of the current year:
| Oct. 1. | Purchased merchandise from UK Imports Co., $13,891, terms FOB destination, n/30. |
| 3. | Purchased merchandise from Hoagie Co., $9,600, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $200 was added to the invoice. |
| 4. | Purchased merchandise from Taco Co., $12,350, terms FOB destination, 2/10, n/30. |
| 6. | Issued debit memo to Taco Co. for $4,950 of merchandise returned from purchase on October 4. |
| 13. | Paid Hoagie Co. for invoice of October 3. |
| 14. | Paid Taco Co. for invoice of October 4, less debit memo of October 6 and discount. |
| 19. | Purchased merchandise from Veggie Co., $29,480, terms FOB shipping point, n/eom. |
| 19. | Paid freight of $425 on October 19 purchase from Veggie Co. |
| 20. | Purchased merchandise from Caesar Salad Co., $21,200, terms FOB destination, 1/10, n/30. |
| 30. | Paid Caesar Salad Co. for invoice of October 20. |
| 31. | Paid UK Imports Co. for invoice of October 1. |
| 31. | Paid Veggie Co. for invoice of October 19. |
Required:
Journalize the entries to record the transactions of Capers Company for October.
For a compound transaction, if an amount box does not require an entry, leave it blank.
| Oct. 1 | |||
| Oct. 3 | |||
| Oct. 4 | |||
| Oct. 6 | |||
| Oct. 13 | |||
| Oct. 14 | |||
| Oct. 19 | |||
| Oct. 19 | |||
| Oct. 20 | |||
| Oct. 30 | |||
| Oct. 31 | |||
| Oct. 31 | |||
In: Accounting
The Cruise Ship Co. has taxable income of $3,500,000. The company paid out $550,000 in interest expense. The tax rate is 21% and the dividend payout ratio is 30%. What is the amount that was paid out in dividends?
A. $780,000
B. $829,500
C. $682,500
D. $420,000
E. $550,000
In: Finance
Logical Logistics Inc. (Logical Logistics or the “Company”) provides transportation and logistics services to customers throughout a network of offices in North America, South America, and Asia. The Company contracts fleets of shipping vessels, trucks, and aircraft to provide regional, long-haul, and international shipments of customer goods. In addition, the Company contracts warehouse operators across North America for use of their facilities as distribution centers that temporarily store goods in transit. The Company has entered into the following contracts with the vendors identified below.
Logical Logistics enters into a contract with See Boat Inc. (See Boat) to use its shipping vessels to transport customer goods from North America to Asia. See Boat has a fleet of 25 multi-use shipping vessels, each of which has the capacity to hold 1,000 shipping containers.
Logical Logistics enters into a contract with Fly-By-Air Inc. (Fly-By-Air) to use its aircraft to transport customer goods from South America to North America. Fly-By-Air has a fleet of 50 multi-use aircraft, each of which has the capacity to hold 500 shipping pallets of customer goods.
Logical Logistics enters into a contract with Trucking Co. Inc. (Trucking Co.) to use its trucks to transport customer goods from distribution centers to retail stores across North America. Trucking Co. has a fleet of 1,500 multi-use long-haul trucking carriers, each of which has the capacity to hold 100 shipping pallets of goods.
Logical Logistics enters into a contract with Warehouse Co. Inc. (Warehouse Co.) to store up to 18,000 shipping pallets of customer goods at one of Warehouse Co.’s locations. Warehouse Co. has the capacity to store 20,000 shipping pallets of goods.
The terms of the shipping contracts are as follows:
• See Boat
o The contract term is for the voyage to transport Logical Logistics’s cargo from Los Angeles to Shanghai. Logical Logistics does not have discretion to change the departure or arrival ports without a renegotiation of the contract fees.
o SB0829, a commercial shipping vessel in See Boat’s fleet, is dedicated to delivering Logical Logistics’s cargo for the term of the contract. See Boat cannot substitute SB0829 with another vessel in its fleet.
o The contract identifies the shipping containers and acceptable cargo (e.g., semiconductors) to be transported on the ship as well as the transportation route. Logical Logistics does not have discretion to change the identified cargo without renegotiating the contract fees.
o See Boat is responsible for the safe passage of the cargo, as well as operation and maintenance of SB0829. The crew determines the ship’s route, speeds, and date of departure from Los Angeles. In addition, Logical Logistics cannot, under any circumstances, replace See Boat’s crew.
• Fly-By-Air o The contract term is five years.
o FBA1231, a commercial aircraft in Fly-By-Air’s fleet, is dedicated to delivering Logical Logistics’s shipping pallets during the term of the contract.
o Logical Logistics determines (1) the airports from and to which goods are shipped and received and (2) the order in which deliveries are made to the airports. Fly-By-Air provides the aircraft’s pilot and crew, and Logical Logistics instructs Fly-By-Air accordingly.
o While Logical Logistics determines what cargo will be transported throughout the term of the contract, certain restrictions prevent the Company from shipping flammable materials.
o Logical Logistics has the right to send the aircraft regardless of whether its cargo levels meet the full storage capacity of the aircraft. If FBA1231 is below capacity, Fly-By-Air cannot use the excess storage space to ship products of its other customers.
• Trucking Co.
o The contract term is five years.
o Trucking Co. must deliver Logical Logistics’s shipments within three weeks of the Company’s notification that it has pallets of customer goods ready for shipping.
o Trucking Co. may choose any truck from its fleet to fulfill the shipping request.
o Logical Logistics may request shipment of 25 to 100 shipping pallets of goods in a single request. (Individual shipping requests generally do not exceed 50 shipping pallets.)
o Trucking Co. has the right to use any excess storage space to ship products of its other customers.
o Trucking Co. determines the shipment’s delivery date (within the threeweek period), as well as the shipping route.
• Warehouse Co.
o The contract term is 10 years.
o Logical Logistics can store up to 18,000 shipping pallets at one specified Warehouse Co. location. Logical Logistics will be charged for storage of 18,000 shipping pallets, regardless of the actual number of pallets stored, and Warehouse Co. cannot use any of Logical Logistics’s unused storage space for other storage needs.
o Warehouse Co. can use the remaining space in its warehouse for other storage needs.
o Warehouse Co. cannot relocate Logical Logistics’s inventory to another facility.
o Logical Logistics has the right to decide which shipping pallets are placed in storage and when they can be removed.
o Warehouse Co. provides the loading and unloading services for the warehouse activities, both of which are dependent on Logical Logistics’s decisions about which shipping pallets are placed in storage and when they can be removed.
The CFO of Logical Logistics recognizes that the new leasing standard contains certain provisions that may affect how the Company treats contracts of this nature.
Required: Analyze the information above, and prepare a memorandum addressing the impact (if any) of the new leasing standard on Logical Logistics’s arrangements for the following considerations:
2. Determine whether each contract conveys the right to control the use of the identified asset to Logical Logistics.
In: Accounting
We report the following current-year purchases and sales for our only product:
|
Date |
Activity |
Starting |
Purchases |
Sales |
|
January 1 |
Beginning Inventory |
200 Units @ $10 |
||
|
January 10 |
Sales |
150 Units |
||
|
March 14 |
Purchase |
350 Units @ $15 |
||
|
March 15 |
Sales |
300 Units |
||
|
July 30 |
Purchase |
450 Units @ $20 |
||
|
October 5 |
Sales |
430 Units |
||
|
October 26 |
Purchase |
100 Units @ $25 |
Determine the costs assigned to ending inventory using (1) FIFO, (2) LIFO, and (3) Weighted Average.
|
Date |
Beg. Inventory |
Purchase |
Sale |
End. Inventory |
|
January 1 |
||||
|
January 10 |
||||
|
March 14 |
||||
|
March 15 |
||||
|
July 30 |
||||
|
October 5 |
||||
|
October 26 |
|
Date |
Beg. Inventory |
Purchase |
Sale |
End. Inventory |
|
January 1 |
||||
|
January 10 |
||||
|
March 14 |
||||
|
March 15 |
||||
|
July 30 |
||||
|
October 5 |
||||
|
October 26 |
|
Date |
Beg. Inventory |
Purchase |
Sale |
End. Inventory |
|
January 1 |
||||
|
January 10 |
||||
|
March 14 |
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|
March 15 |
||||
|
July 30 |
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|
October 5 |
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|
October 26 |
|
Product |
Quantity |
Cost per Unit |
Market per Unit |
|
Mountain Bikes |
11 |
$600 |
$550 |
|
Skateboards |
13 |
$350 |
$425 |
|
Gliders |
26 |
$800 |
$700 |
For each product, which value (cost value or market value) would you show as inventory cost?
In: Accounting