The following is the balance sheet of Korver Supply Company at December 31, 2020 (prior year). KORVER SUPPLY COMPANY Balance Sheet At December 31, 2020 Assets Cash $120,000 Accounts receivable 300,000 Inventory 200,000 Furniture and fixtures (net) 150,000 Total assets $770,000 Liabilities and Shareholders’ Equity Accounts payable (for merchandise) $190,000 Notes payable 200,000 Interest payable 6,000 Common stock 100,000 Retained earnings 274,000 Total liabilities and shareholders’ equity $770,000 Transactions during 2021 (current year) were as follows: 1. Sales to customers on account $800,000 2. Cash collected from customers 780,000 3. Purchase of merchandise on account 550,000 4. Cash payment to suppliers 560,000 5. Cost of merchandise sold 500,000 6. Cash paid for operating expenses 160,000 7. Cash paid for interest on notes 12,000 Additional Information: The notes payable are dated June 30, 2020, and are due on June 30, 2022. Interest at 6% is payable annually on June 30. Depreciation on the furniture and fixtures for 2021 is $20,000. The furniture and fixtures originally cost $300,000.
Required: Prepare a classified balance sheet at December 31, 2021, by updating ending balances from 2020 for transactions during 2021 and the additional information. The cost of furniture and fixtures and their accumulated depreciation are shown separately.
In: Accounting
As a result of COVID-19 pandemic, company XYZ (Pty) Ltd is considering the introduction of the Fourth Industrial Revolution. They consider the industrial Internet of Things to be the way to go for the company. However, you are hired as a consultant to advise the CEO of XYZ wether 4.0 is the best option for the company. In your report after benchmarking, you need to also consider the challenges and benefits that can be derived by implementing 4.0.
In: Economics
1) If a company wants to implement an enterprise application, it had better do its homework. Discuss 3 implications of this statement with examples.
2) Many colleges and universities use Banner, a higher education software ERP system. Describe the ERP system at your university. How does your school's ERP compare to others, give 2 comparisons to other systems from Web searches? What are the challenges of implementing the ERP system?
In: Economics
Provide the current Valuation Ratios for the company United Parcel Service (UPS) and explain what they mean and what the number tells us. Also, why is this ratio important to the company? Compare these ratios to the industry financial ratios. Lastly, look at trends within United Parcel Service (UPS) company over time and explain if they are doing better, worse or holding steady, and how is the company doing and where can the company perform better?
Please cite where the information comes from.
In: Finance
One hundred randomly selected subjects from 51,048 subjects were interviewed as a part of the California Health Interview Survey. The table below was constructed from the responses of the 100 subjects. Use a 0.05 significance level to test the claim that for California adults, exercise is independent of gender.
Have you exercised vigorously in the last 7 days?
| YES | NO | |
| MALE | 13 | 34 |
| FEMALE | 15 | 38 |
In: Statistics and Probability
Crane Company sells tablet PCs combined with Internet service,
which permits the tablet to connect to the Internet anywhere and
set up a Wi-Fi hot spot. It offers two bundles with the following
terms.
(A):Prepare any journal entries to record the revenue arrangement
for Crane Bundle A on January 2, 2020, and December 31, 2020.
(B) Prepare any journal entries to record the revenue arrangement for Crane Bundle B on July 1, 2020, and December 31, 2020.
(C)Repeat the requirements for part (a), assuming that Crane Company has no reliable data with which to estimate the standalone selling price for the Internet service.
| 1. | Crane Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $488. The standalone selling price of the tablet is $252 (the cost to Crane Company is $178). Crane Company sells the Internet access service independently for an upfront payment of $285. On January 2, 2020, Crane Company signed 90 contracts, receiving a total of $43,920 in cash. | |
| 2. | Crane Bundle B includes the tablet and Internet service plus a service plan for the tablet PC (for any repairs or upgrades to the tablet or the Internet connections) during the 3-year contract period. That product bundle sells for $597. Crane Company provides the 3-year tablet service plan as a separate product with a standalone selling price of $154. Crane Company signed 190 contracts for Crane Bundle B on July 1, 2020, receiving a total of $113,430 in cash. |
In: Accounting
Q1 (a) What is the significance of Marketing?
(b) “Marketing is both art and science.” Discuss.
(Please the Expert needs to submit a detailed answer which must be a standout in a very competitive MBA Marketing Class) .
In: Psychology
Refer to the data in the Excel (College) File.
a)
Construct a crosstabulation with Year Founded as the row variable and
%Graduate as the column variable. Use classes starting with 1600 and
ending with 2000 in increments of 50 for Year Founded. For %
Graduate, use classes starting with 35% and ending with 100% in
increments of 5%.
b)
Compute the row percentages for your crosstabulation in part (a).
c)
Construct a scatter diagram to show the relationship between
Tuition&Fees and %Graduate. Comment on any relationship between
the variables
| Bethune-Cookman University | 1904 | $13,572 | 37.00 |
| Charleston Southern University. | 1964 | $19,814 | 39.00 |
| Jacksonville University | 1934 | $26,600 | 41.00 |
| Houston Baptist University | 1960 | $23,180 | 45.00 |
| Saint Peter's College | 1872 | $28,332 | 46.00 |
| Gardner-Webb University | 1905 | $22,410 | 48.00 |
| Campbell University | 1887 | $22,520 | 51.70 |
| Mt. St. Mary's University | 1960 | $24,410 | 53.00 |
| Oral Roberts University | 1963 | $20,044 | 53.00 |
| Liberty University | 1971 | $19,154 | 54.00 |
| St. Francis University (NY) | 1884 | $17,280 | 54.00 |
| Lipscomb University | 1891 | $23,494 | 56.00 |
| University of Hartford | 1877 | $30,754 | 58.00 |
| St. John's University (NY) | 1870 | $31,980 | 58.00 |
| Fairleigh Dickinson University | 1942 | $33,410 | 59.00 |
| Monmouth College | 1853 | $28,650 | 59.00 |
| Hofstra University | 1935 | $31,800 | 60.00 |
| Mercer University | 1833 | $30,560 | 61.00 |
| Robert Morris University | 1921 | $21,550 | 61.00 |
| Stetson University | 1883 | $35,081 | 61.00 |
| Iona College | 1940 | $30,192 | 63.00 |
| Seton Hall University | 1856 | $31,890 | 63.00 |
| Rider University | 1865 | $30,470 | 64.00 |
| Howard University | 1867 | $17,905 | 65.00 |
| Pacific University | 1849 | $33,612 | 65.00 |
| University of Tulsa | 1894 | $28,310 | 65.00 |
| University of Evansville | 1854 | $28,076 | 66.00 |
| Wagner College | 1883 | $35,820 | 66.00 |
| Drexel University | 1891 | $33,005 | 67.00 |
| Sacred Heart University | 1963 | $31,440 | 67.00 |
| Belmont University | 1951 | $23,680 | 68.00 |
| DePaul University | 1898 | $28,858 | 68.00 |
| Loyola University Chicago | 1870 | $33,294 | 68.00 |
| Niagara University | 1856 | $25,650 | 68.00 |
| Saint Francis University (PA) | 1847 | $26,534 | 68.00 |
| St. Bonaventure University | 1858 | $26,895 | 68.00 |
| La Salle University | 1863 | $35,140 | 69.00 |
| University of San Francisco | 1855 | $37,424 | 69.00 |
| Baylor University | 1845 | $29,754 | 70.00 |
| Canisius College | 1870 | $30,077 | 70.00 |
| Tulane University | 1834 | $41,884 | 70.00 |
| Valparaiso University | 1859 | $31,040 | 70.00 |
| Saint Louis University | 1818 | $32,656 | 72.00 |
| Butler University | 1855 | $30,558 | 73.00 |
| Manhattan College | 1853 | $29,800 | 73.00 |
| Samford University | 1841 | $23,932 | 73.00 |
| University of San Diego | 1949 | $38,578 | 73.00 |
| Siena College | 1937 | $28,985 | 73.00 |
| Southern Methodist University | 1911 | $39,430 | 74.00 |
| Texas Christian University | 1873 | $32,490 | 74.00 |
| Drake university | 1881 | $28,382 | 75.00 |
| Duquesne University | 1878 | $27,502 | 75.00 |
| Quinnipiac University | 1929 | $36,130 | 75.00 |
| University of Denver | 1864 | $37,833 | 76.00 |
| Creighton University | 1878 | $30,578 | 77.00 |
| Northeastern University | 1898 | $36,792 | 77.00 |
| University of Portland | 1901 | $33,538 | 77.00 |
| Bradley University | 1897 | $25,424 | 78.00 |
| Brigham Young University | 1875 | $4,560 | 78.00 |
| University of Dayton | 1850 | $29,930 | 78.00 |
| American University | 1893 | $36,697 | 79.00 |
| Fordham University | 1841 | $38,277 | 79.00 |
| Xavier University (Ohio) | 1831 | $29,970 | 79.00 |
| Marist College | 1929 | $27,650 | 80.00 |
| University of Miami (FL) | 1925 | $37,836 | 80.00 |
| Pepperdine University | 1937 | $39,080 | 80.00 |
| Elon University | 1889 | $27,881 | 81.00 |
| George Washington University | 1821 | $42,905 | 81.00 |
| Marquette University | 1881 | $31,822 | 81.00 |
| Gonzaga University | 1887 | $30,925 | 82.00 |
| Loyola University Maryland | 1852 | $39,350 | 82.00 |
| Wofford College | 1854 | $31,710 | 82.00 |
| Syracuse University | 1870 | $36,302 | 83.00 |
| Boston University. | 1839 | $39,864 | 84.00 |
| Fairfield University | 1942 | $39,040 | 84.00 |
| Furman University | 1826 | $38,088 | 84.00 |
| University of Richmond | 1830 | $43,170 | 87.00 |
| Santa Clara University | 1851 | $37,368 | 87.00 |
| Colgate University | 1819 | $41,870 | 88.00 |
| Lehigh University | 1865 | $39,780 | 88.00 |
| Providence College | 1917 | $39,435 | 88.00 |
| Lafayette College | 1826 | $39,115 | 89.00 |
| University of Southern California | 1880 | $41,022 | 89.00 |
| Wake Forest University | 1834 | $41,576 | 89.00 |
| Villanova University | 1842 | $39,665 | 90.00 |
| Boston College | 1863 | $40,542 | 91.00 |
| Bucknell University | 1846 | $43,866 | 91.00 |
| Davidson College | 1837 | $38,866 | 91.00 |
| Vanderbilt University | 1873 | $39,930 | 91.00 |
| Cornell University | 1865 | $39,666 | 93.00 |
| Georgetown University | 1789 | $40,203 | 93.00 |
| Northwestern University | 1851 | $40,224 | 93.00 |
| Rice University | 1912 | $35,551 | 93.00 |
| Brown University | 1764 | $42,230 | 95.00 |
| Dartmouth College | 1769 | $40,437 | 95.00 |
| Duke University | 1838 | $40,243 | 95.00 |
| Stanford University | 1891 | $41,006 | 95.00 |
| Columbia University | 1754 | $41,160 | 96.00 |
| University of Notre Dame | 1842 | $41,417 | 96.00 |
| University of Pennsylvania | 1740 | $42,098 | 96.00 |
| Princeton University | 1746 | $37,000 | 96.10 |
| Harvard University | 1636 | $38,415 | 97.00 |
| Yale University | 1701 | $38,300 | 98.00 |
In: Statistics and Probability
NOELLA Consultants Inc. has had a defined benefit pension plan since January 1, 2014.
The following represents beginning balances as at January 1, 2019:
Market value of Plan Asset $2,008,900; Defined Benefit Obligation $2,340,000; AOCI: Gain of $65,000
Additional Information is as follows:
Current Service cost is $221,000 for 2019 and $215,200 for 2020.
Company Funding/Contribution is $200,400 for 2019 and $212,700 for 2020. Funding is made on December 31 of each year.
Actual return on assets is $115,600 for 2019 and $117,400 for 2020.
There are payments made to retired employees equal to $63,900 in 2019 and for $90,300 in 2020.
Increase in obligation of $123,500 due to Past service cost from plan amendment dated December 31, 2019.
There is an increase in obligation for $64,510 due to changes in Actuarial assumptions at Dec 31, 2020.
The discount/interest rate is 6% for both years.
Required:
Note: You can use either the textbook approach or the alternative approach as we discussed in class.
In: Accounting
Pls answer all parts for Upvote
Sound-Around Turntables (SAT) is a regional manufacturer of high fidelity turntables. It has been in business in Detroit, Michigan since 2008 and has steadily increased sales volume as U.S. sales of vinyl albums re-ignited.
Robert Ritchie, CEO for SAT received an order for 2,500 turntables for Best Buy, a national electronics retailer. Production for this order will begin in late March and the customer order must be delivered on June 1. Since SAT builds to order, Ritchie needs to begin ordering parts from his global supply base soon.
An important needed component is the turntable motor that is normally purchased from Dongguan Electric. The supplier is located in Kaohsiung City, Taiwan. The product is high quality and SAT has worked with Dongguan for 7 years. All units in the order would be shipped at one time. However, the company recently raised its prices citing higher material costs due to rising tariffs.
Last week, Ritchie received a proposal from an Argentinian company that wants to become a supplier to SAT. Maduro Motors promises to make monthly deliveries of 500 units starting on December 15. Ritchie likes the idea of reducing the supplier-to-factory distance and receiving monthly deliveries. However, Ritchie doesn’t know much about this supplier or the political environment in Argentina.
The Options
Dongguan Electric currently sells the 20W synchronous motor to SAT for 825 TWD per unit. Order cycle time is 46 days. Terms are listed as DAT, Chicago Tradeport.
Maduro Motor proposes to sell a similar 20W electric motor to SAT for 875 ARS per unit. Order cycle time is 18 days. Terms are listed as FAS, Port of Mar del Plata.
|
Dongguan |
Maduro |
|
|
Price Per Unit |
825 TWD |
875 ARS |
|
Estimated Ocean Shipping Cost per unit |
140 TWD |
78 ARS |
|
Estimated US Customs duty per unit |
39 TWD |
12 ARS |
Exchange Rates
|
Date |
Taiwan New Dollar (TWD) |
Argentine Peso (ARS) |
|
January 11, 201x |
30.75 |
29.88 |
Answer the following questions:
1. Evaluate the selling price and related costs per unit offered by each supplier in US dollars.
|
Dongguan |
Maduro |
|
|
Price Per Unit |
$ |
$ |
|
Estimated Ocean Shipping Cost per unit |
$ |
$ |
|
Estimated US Customs duty per unit |
$ |
$ |
2 a. What costs, responsibilities and risks are assumed by the buyer (SAT) and the seller (Dongguan Electric) under Incoterms 2010, DAT, Chicago Tradeport?
b. What costs, responsibilities and risks are assumed by the buyer (SAT) and the seller (Maduro Motor) under Incoterms 2010, FAS, Port of Mar del Plata?
|
DAT, Chicago Tradeport |
FAS, Port of Mar del Plata |
|
|
Packaging goods for export and loading the container |
||
|
Factory to port transportation |
||
|
Payment of export duties (if any are due) |
||
|
Loading the container on the ship |
||
|
Paying for the ocean transport (carriage charges) |
||
|
Paying for the insurance on the international voyage |
||
|
Paying destination terminal charges for unloading freight |
||
|
Clearing US Customs (pay import duties & taxes) |
||
|
US transportation to final destination |
3. Given your responses to Questions 1 and 2, what is the total known cost per motor that SAT will incur and what other costs will SAT incur?
|
Dongguan |
Maduro |
|
|
Costs from Q1 paid by SAT |
$ |
$ |
|
Costs from Q2 that SAT will incur |
||
|
Which supplier do you believe will provide the lowest total cost per unit? |
□ Dongguan |
□ Maduro |
4. What other costs and factors would you consider during the supplier selection process?
5. Which global supplier would you select? Why?
In: Accounting