In: Economics
You have learned that protein is important for body functions and that most of us get more than the RDA for protein. Why do you think the high protein diets such as The Zone and The Adkins Diet are so appealing to people who desire weight loss? Are there potential advantages and disadvantages to these diets? What would you counsel someone who was using one of these diets?
In: Anatomy and Physiology
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Four senior executives of the world’s largest firms with extensive holdings outside the home country speak. Company A: “We are a multinational firm. We distribute our products in about 100 countries. We manufacture in over 17 countries and do research and development in three countries. We look at all new investment projects both domestic and overseas- using exactly the same criteria”. The execution from Company A continuous, “of course most of the key posts in our subsidiaries are held by home-country nationals. Whenever replacements for these men are sought, it is the practise, if not the policy, to look next to you at the head office and pick someone (Usually a home country national) you know and trust”. Company B : “ We are a multinational Firm- only 1 percent of the personnel in our affiliate companies are non-national. Most of these are us executives in temporary assignments. In all major markets, the affiliates managing director is of the local nationality”. He continuous, “of course there are very few non-Americans in the key posts at headquarters. The few we have are so Americanized that we usually do not notice their nationality. Unfortunately, you cannot find good foreigners who are willing to live in the United states, were out headquarters is located –American executives are more mobile. In addition, American have the drive and initiative we like. In fact, the European nationals would prefer to report to an American rather than to some other European”. Company C: “We are a multinational Firm- Our product division executives have world wide profit responsibility. As our organizational chart shows, the United States is just one region on a par with Europe, LatinAmerica, Africa, etc., in each division”. The executives from Company C go on to explain “the World Wide product division concept is rather difficult to implement. The senior executives in charge of these divisions have little overseas experience. They have been promoted from domestic posts and tend to view foreign consumer needs as really basically the same as ours. Also, product division executives tend to focus on the domestic market because the domestic market is larger and generates more revenue than the fragmented foreign markets. The rewards are for global performance, but strategy is to focus on domestic. Most of our senior executives simply do not understand what happens overseas and really do not trust foreign executives, even those in key positions”. Company D (non-American): “We are a multinational Firm. We have at least 18 nationalities represented at our headquarters. Most senior executives speak at least two languages. About 30 percent of our staff at headquarters is foreigners. 15 He continuous by explaining that “Since the voting shareholders must by low come from the home country, the home country’s interest must be given careful consideration. But we are proud of our nationality; we should not be ashamed of it. Infact, many times we have been reluctant to use home-country ideas overseas, to our detriment, specially in air U.S. subsidiary-our country produces good executives, who tend to stay with us a long time. It is harder to keep executives from the United States. Questions: (a) Discuss which company is truly multinational? (b) Outline all the attributes of a truly multinational company? |
In: Economics
Preparing Entries Across Two Periods
The following selected accounts appear in Zimmerman Company's
unadjusted trial balance at December 31, 2015, the end of its
fiscal year (all accounts have normal balances).
|
Prepaid Maintenance |
$2,700 |
|
Supplies |
8,400 |
|
Unearned Commission Fees |
8,500 |
|
Commission Fees Earned |
84,000 |
|
Rent Expense |
10,800 |
Additional information is as follows.
1. On September 1, 2015, the company entered into a prepaid
equipment maintenance contract. Zimmerman Company paid $2,700 to
cover maintenance service for 6 months, beginning September 1,
2015. The $2,700 payment was debited to Prepaid Maintenance.
2. Supplies available on December 31 are $3,200.
3. Unearned commission fees at December 31 are $4,000.
4. Commission fees earned but not yet billed at December 31 are
$2,800. (Hint: Debit Fees Receivable.)
5. Zimmerman Company's lease calls for rent of $900 per month
payable on the first of each month, plus an annual amount equal to
1% of annual commissions earned. This additional rent is payable on
January 10 of the following year. (Hint: Use the adjusted
amount of commissions earned in computing the additional
rent.)
Required
(a) Prepare Zimmerman Company's adjusting entries at December 31,
2015 using the financial statement effects template.
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(b) Prepare entries on January 10, 2016, using both the financial statement effects template and in journal entry form, to record (1) the billing of $4,600 in commissions earned (which includes the $2,800 of commissions earned but not billed at December 31) and (2) the cash payment of the additional rent owed for 2015. (Hint for part (1): Zimmerman Company has two receivable accounts-- Fees Receivable is used for amounts earned, but not yet billed, and Accounts Receivable for amounts that are earned and billed to the customer.)
For the Noncash Assets answer, enter the net amount for the transaction.
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In: Accounting
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 210 units @ $53.20 per unit Mar. 5 Purchase 280 units @ $58.20 per unit Mar. 9 Sales 370 units @ $88.20 per unit Mar. 18 Purchase 140 units @ $63.20 per unit Mar. 25 Purchase 260 units @ $65.20 per unit Mar. 29 Sales 240 units @ $98.20 per unit Totals 890 units 610 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 120 units from beginning inventory and 250 units from the March 5 purchase; the March 29 sale consisted of 100 units from the March 18 purchase and 140 units fr
I am sorry. I thought I posted everything. My requirement is below.
Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 120 units from beginning inventory and 250 units from the March 5 purchase; the March 29 sale consisted of 100 units from the March 18 purchase and 140 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)
| Gross Margin | FIFO | LIFO | Avg. Cost | Spec. ID |
| Sales | ||||
| Less: Cost of goods sold | ||||
| Gross profit |
In: Accounting
KIKI CORPORATION
Kiki Corporation, a US company, prepares its financial statements under US GAAP. For 2014, the company reported $1,000,000 income and stockholders’ equity balance of $8,000,000 on December 31, 2014. In preparation for a possible adoption of IFRS by the US companies, the management wishes to explore possible impacts of the move. You are engaged to prepare a reconciliation schedule to convert 2014 income as well as stockholders’ equity on December 31, 2014 from US GAAP basis to IFRS. The following information is provided by the company’s accounting department:
Make sure your reconciliation statement is accompanied by an adequate explanation and reference for every one of your adjustments. Ignore income taxes.
In: Accounting
CASE ONE, KIKI CORPORATION
Kiki Corporation, a US company, prepares its financial statements under US GAAP. For 2014, the company reported $1,000,000 income and stockholders’ equity balance of $8,000,000 on December 31, 2014. In preparation for a possible adoption of IFRS by the US companies, the management wishes to explore possible impacts of the move. You are engaged to prepare a reconciliation schedule to convert 2014 income as well as stockholders’ equity on December 31, 2014 from US GAAP basis to IFRS. The following information is provided by the company’s accounting department:
In 2010, the company acquired a brand with a fair value of $50,000. The brand was booked as an intangible asset with an indefinite life. At the end of 2014, the brand had a selling value of $46,000 with zero selling expense. Expected future cash flows from continued use of the brand are $52,000 and the present value of the expected future cash flows is $43,000.
In 2014, Kiki Corporation incurred research and development costs of $200,000. Of this amount, 45% related to development activities subsequent to the point at which criteria had been met indicating that an intangible asset existed. As of the end of 2014, development of the new product had not been completed.
At the end of 2014, Kiki Corporation had an inventory item with a historical cost of $250,000, a replacement cost of $170,000, a net realizable value of $190,000, and a normal profit margin of 20 percent.
In January 2012, the company realized a gain on the sale-and-leaseback of an office building in the amount of $150,000. The lease is accounted for as an operating lease, and the term of the lease is five years.
The company acquired a building at the beginning of 2013 at a cost of $2,750,000. The building has an estimated useful life of 25 years, an estimated residual value of $500,000, and is being depreciated on a straight-line basis. At the beginning of 2014, the building was appraised and determined to have a fair value of $3,250,000. There is no change in estimated useful life or residual value. In a switch to IFRS, the company would use revaluation model in IAS 16 to determine the carrying value of property, plant, and equipment subsequent to acquisition.
Make sure your reconciliation statement is accompanied by an adequate explanation and reference for every one of your adjustments. Ignore income taxes.
In: Accounting
This question is about the Archer Daniels Midland price fixing scandal. Answer the first three parts before watching the video. Read in your book the introduction to the chapter titled “Price fixing and repeated games”. You can use any additional sources to answer the following questions.
a. Write a few lines describing the company Archer Daniels Midland. Where are they located, what kind of products do they sell.
b. What is “price fixing”, why do some countries including the US prohibit it by law?
c. Why is it often hard to detect price fixing? Watch the youtube video clip using this link http://www.youtube.com/watch?v=DPXTsPS-hyw or find it online by searching for “Archer Daniels Midland Segment from Fair Fight in the Marketplace”
d. The price of what product was fixed?
e. Do you think the different firms involved in price fixing were selling products that were relatively homogeneous or differentiated?
f. If price fixing goes undetected, who benefits? Who loses?
g. One of the parties in the video refers to others and friends and enemies. Explain.
h. How was the price fixing behavior detected in this case?
In: Economics
The going yield-to-maturity on a 30 year US Treasury bond is about 1.4% (as of last Friday). Does this mean that an investor who buys this bond today will earn a rate of return of 1.4% % with certainty? Explain in detail
In: Finance
For BMW
Do a brief competitor analysis. Find 2 relevant competitors. Tell us who the competitors are , whether they are direct or indirect competitors , why they are competitors , and describe one good usability feature of each competitor .
In: Economics