Cities, States, and Businesses Lead the Way to Reduce Greenhouse Gases

Although the United States signed the original Kyoto Protocol, the U.S. Congress never ratified the agreement so the protocol has never been legally binding on the United States. The administration of President George W. Bush argued that there was no scientific consensus on global warming and that the costs of reducing greenhouse gases were simply too high. However, many state and local governments felt they had waited long enough for change at the federal level. In 2005, mayors from 141 cities and both major political parties gathered in San Francisco to organize their own efforts to reduce the causes and consequences of global warming. Their goal was to reduce greenhouse emissions in their own cities by the same 7 percent that the United States had agreed to in the Kyoto Protocol.

As of 2014, a total of 1,060 out of 1,139 mayors of U.S. cities had signed the U.S. Conference of Mayors Climate Protection Agreement. Among the reasons the mayors cited for supporting this agreement were concerns in their communities over increasing droughts, reduced supplies of fresh water due to melting glaciers, and rising sea levels in coastal cities. “The United States inevitably will have to join this effort,” Seattle mayor Greg Nickels said. “Ultimately we will make it impossible for the federal government to say no. They will see that it can be done without huge economic disruption and that there’s support throughout the country to do this.”

Similar actions are being taken at the state level. In 2005, then-governor of California Arnold Schwarzenegger stated at a press conference, “The debate is over . . . and we know the time for action is now.” In 2006, Governor Schwarzenegger signed the California Global Warming Solutions Act. The goal of the act was to bring California into compliance with the Kyoto Protocol by 2020, an effort that would require a 25 percent reduction in greenhouse gases for a state that, if a country, would be the tenth largest producer of greenhouse gases in the world. At the signing ceremony, the governor stated, “I say unquestionably it is good for businesses.” Indeed, a cost analysis by the California Air Resources Board in 2008 indicated that the law would add $27 billion to the economy of the state and add 100,000 jobs.

The California effort is gaining popularity around the country. In the northeastern United States, for example, nine states have joined together collectively to form the Regional Greenhouse Gas Initiative to control regional production of greenhouse gases. A similar group emerged in western North America when seven western states and four Canadian provinces joined together in 2007 to form the Western Climate Initiative. For both groups, the goal was to to regulate greenhouse emissions. By 2014, northeastern group continued to work together while the western group had a reduced membership that included only California and the four Canadian provinces.

A number of large businesses are also joining in efforts to reduce greenhouse gases. General Electric, for example, announced in 2014 that it had reduced its greenhouse emissions by 34 percent since 2004. In addition, the company has invested $12 billion for research and development of technologies that can reduce greenhouse gases and is planning to invest a total of $25 billion by 2020. In 2011, General Electric announced that its technology generated more than $100 billion in revenues, which confirmed that creating technology that would reduce greenhouse emissions was a profitable thing to do.

In 2013, the New York Times reported that a growing number of companies including Microsoft, ExxonMobil, and Google have developed long-term financial plans that include the cost of producing greenhouse gases. These companies recognize that the scientific evidence of human-caused global climate change continues to grow and that they will increasingly need to factor the costs of emissions into their budgets. Those companies that include plans to accommodate and reduce these costs are likely to profit from such planning.

From these stories, it is clear that progress on reducing greenhouse gases that cause global warming does not have to wait for national and international agreements to take effect. The public overwhelmingly understands that Earth is warming, states and cities are pushing forward with solutions that save money, and large corporations understand that reducing emissions can reduce costs and improve profits over the long term. In short, curbing greenhouse gases and global warming is not only good for humans and the environment, it can be good for business as well.

Critical Thinking Questions

1.What data might city mayors use to support their assertion that humans are causing global warming?

2.Why is it more effective for states and provinces to create regional partnerships to combat global warming rather than doing so alone?

Bon Appétit is a French restaurant that recently increased the average price of its
meals by 4%. As a result, the number of customers dropped by 3%. Based on this
information, what is the price elasticity of demand for meals at Bon Appétit? How
will this 4% increase of the average price of meals impact total revenue at Bon
Appétit?
(10 points)
Another French restaurant in the area that competes with Bon Appétit decided to
reduce the average price of its meals by 3%. How will this decision likely impact
the demand for meals at Bon Appétit?
(5 points)
Assume that the average disposable income in the area in which operates
increases by 5% over the last year. As a result, the number of customers at Bon
Appétit increased by 3%. Based on this information, what is the income elasticity
of demand for meals at
Bon Appétit? Are meals at Bon Appétit considered normal goods?
(10 points)

Deflation refers to the phenomenon of a negative inflation rate. (In 2004, the inflation rate was negative in Hong Kong and we say Hong Kong suffered deflation in 2004.) Many people regard deflation as bad. Can you explain why? Is deflation sometimes good (at least for some people)?

Deflation refers to the phenomenon of a negative inflation rate. (In 2004, the inflation rate was negative in Hong Kong and we say Hong Kong suffered deflation in 2004.) Many people regard deflation as bad. Can you explain why? Is deflation sometimes good (at least for some people)?

One of your favorite clients comes in to discuss a dilemma she is having. She is offering a new product, and she would like to offer a sales incentive to encourage customers to try it. The offer would be for a 25% refund of the sale price. Customers would submit proof of purchase with a refund form and the refund would be mailed to them.

Her question is how to record revenues when a refund is being offered. Customers will be given several months to send in for the refund and at the end of the quarter she will not be able to estimate the amount of refunds that will be paid out. She is however confident in her estimate of gross revenue on sales of this product for the next quarter of $75,000 and cost of goods sold of 65% of revenue.

Luckily for you, you are a genius when it comes to using the codification. Finding a solid answer for her on how to record revenue with a refund offer will only take a few minutes.

You think this through and develop your response.

Define the issue:

Determine path:

Identify alternatives:

Cite relevant codification §s:

The NFL Scouting Combine is an event at which football scouts evaluate the abilities of some top college prospects. Following are heights in inches and weighs in pounds for some of the quarterbacks at the 2013 Combine. Compute the slope b 1 least-square regression line for predicting weight from height. Round your answer to 3 decimal places.

Height (x) 75 78 75 79 75 76 77 77 74 75 74 76 75 74

weight (y) 227 232 231 225 240 225 226 237 227 219 218 237 226 215

=

The NFL Scouting Combine is an event at which football scouts evaluate the abilities of some top college prospects. Following are heights in inches and weighs in pounds for some of the quarterbacks at the 2013 Combine. Compute the slope LaTeX: b1 least-square regression line for predicting weight from height. Round your answer to 3 decimal places.

Height (x) 75 78 75 79 75 76 77 77 74 75 74 76 75 74

weight (y) 227 232 231 225 240 225 226 237 227 219 218 237 226 215

Report Writing

Select any publicly listed Saudi Company that operates in GCC, and write a (minimum of 1000 word) report covering the following points:  

(Marks: 10)

1. Present the study report with clear Introduction and Conclusion including your own views.  

2. Using SWOT analysis, analyze the external and internal environment of your selected company.  

3. Analyze the political, economic, cultural and legal challenges the company currently faces in any of the country it operates (select one country in which the company operates for this analysis).

APA style refrences is important

Beginning balances of FRS Company’s accounts as of January 1, 2018 as given below:

During January 2018, FRS Company completed the following transactions:

• Jan 1: Paid 6 months insurance in advance for $10,800.
• Jan 2: Purchased 400 units of inventory for 32,000$ from Great Company, on terms, 3/10, n/eom.And paid $2,000 of commissions and freight charges for the purchase from Great Company.
• Jan 4: Purchased 150 units of inventory from Deluxe Company on account with terms 2/5, n/30. Total invoice is $13,500.
• Jan 5: Paid accrued salary of the December 2016, $16,000.
• Jan 13: Paid to Great Company.
• Jan 15: Sold 600 units of goods to Shine Company for $90,000 ($150 each) on account with terms 2/10, n/30.
• Jan 17: Received 50 units of goods back from Shine Company (Returned goods are from $85 of cost each).
• Jan 20: Received payment from Shine Company, settling the amount due in full.
• Jan 23: Sold 40 units on account, $6,000 ($150 each) to Bridget Company.
• Jan 27: Purchased supplies for cash of $13,000.

On January 31, 2018 FRS Company completed following adjusting entries:

• Expiration of prepaid insurance for one month
• Depreciation of equipment for the month, $8,500
• Supplies used, $12,000
• Unearned sales revenue still unearned, $12,000.
• Accrued salary of the January 2017 is $16,000 which will be paid on the 5^th of February.

Requirements:

1. Journalize and post the January transactions. (Open T-accounts for each of the accounts given in trial balance, do not forget to write beginning balances) (2 points each)
2. Prepare FIFO schedule to calculate the Cost of Goods Sold (COGS) on the Jan 15^th, and 23^th. (Beginning inventory as of January 1 include 225 units $80 each which totals $18,000 as given) (19 points)
3. Prepare unadjusted trial balance as of January 31, 2018. (10 points)
4. Journalize and post the adjusting entries. (3 points each)
5. Prepare adjusted trial balance as of January 31, 2018. (10 points)

eginning balances of FRS Company’s accounts as of January 1, 2018 as given below:

During January 2018, FRS Company completed the following transactions:

• Jan 1: Paid 6 months insurance in advance for $10,800.
• Jan 2: Purchased 400 units of inventory for 32,000$ from Great Company, on terms, 3/10, n/eom.And paid $2,000 of commissions and freight charges for the purchase from Great Company.
• Jan 4: Purchased 150 units of inventory from Deluxe Company on account with terms 2/5, n/30. Total invoice is $13,500.
• Jan 5: Paid accrued salary of the December 2016, $16,000.
• Jan 13: Paid to Great Company.
• Jan 15: Sold 600 units of goods to Shine Company for $90,000 ($150 each) on account with terms 2/10, n/30.
• Jan 17: Received 50 units of goods back from Shine Company (Returned goods are from $85 of cost each).
• Jan 20: Received payment from Shine Company, settling the amount due in full.
• Jan 23: Sold 40 units on account, $6,000 ($150 each) to Bridget Company.
• Jan 27: Purchased supplies for cash of $13,000.

On January 31, 2018 FRS Company completed following adjusting entries:

• Expiration of prepaid insurance for one month
• Depreciation of equipment for the month, $8,500
• Supplies used, $12,000
• Unearned sales revenue still unearned, $12,000.
• Accrued salary of the January 2017 is $16,000 which will be paid on the 5^th of February.

Requirements:

1. Journalize and post the January transactions. (Open T-accounts for each of the accounts given in trial balance, do not forget to write beginning balances) (2 points each)
2. Prepare FIFO schedule to calculate the Cost of Goods Sold (COGS) on the Jan 15^th, and 23^th. (Beginning inventory as of January 1 include 225 units $80 each which totals $18,000 as given) (19 points)
3. Prepare unadjusted trial balance as of January 31, 2018. (10 points)
4. Journalize and post the adjusting entries. (3 points each)
5. Prepare adjusted trial balance as of January 31, 2018. (10 points)