Companies such as BMW, Audi, Mercedes, and Tiffany are thriving these days because they are expanding their luxury brands into more affordable product lines, thus allowing them to offer their premium branded products to a wider audience. An example is Tiffany’s $75 Heart Tag Charm, the $30,000 Mercedes CLA, and the Audi A3.
Required What type of strategy (cost leadership or differentiation) is being followed by Tiffany, BMW, Audi, and Mercedes? Comment on how effective you think this strategy will be for these firms.
In: Accounting
Tiffany Lyons was just hired as the assistant treasurer of Key West Stores. The company is a specialty chain store with nine retail stores concentrated in one metropolitan area. Among other things, the payment of all invoices is centralized in one of the departments Tiffany will manage. Her primary responsibility is to maintain the company’s high credit rating by paying all bills when due and to take advantage of all cash discounts.
Jay Barnes, the former assistant treasurer who has been promoted to treasurer, is training Tiffany in her new duties. He instructs Tiffany that she is to continue the practice of preparing all checks “net of discount” and dating the checks the last day of the discount period. “But,” Jay continues, “we always hold the checks at least 4 days beyond the discount period before mailing them. That way, we get another 4 days of interest on your money. Most of our creditors need our business and don’t complain. And, if they scream about our missing the discount period, we blame it on the mailroom or the post office. We’ve only lost one discount out of every hundred we take that way. I think everybody does it. By the way, welcome to our team!”
Respond thoroughly to the following questions in your reflective essay:
What are the ethical considerations
in this case?
Who are the stakeholders that are harmed or
benefited in this situation?
Should Tiffany continue the practice started by
Jay? Does she have any choice?
Based on your chosen code of conduct
principle(s), what would you do (step-by-step) in order to act in
accordance with your chosen principle to address this
situation?
In: Finance
The following selected transactions were completed by Capers Company during October of the current year:
| Oct. | 1 | Purchased merchandise from UK Imports Co., $13,377, terms FOB destination, n/30. |
| 3 | Purchased merchandise from Hoagie Co., $10,650, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $230 was added to the invoice. | |
| 4 | Purchased merchandise from Taco Co., $14,350, terms FOB destination, 2/10, n/30. | |
| 6 | Issued debit memo to Taco Co. for $5,000 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., $25,850, terms FOB shipping point, n/eom. | |
| 19 | Paid freight of $430 on October 19 purchase from Veggie Co. | |
| 20 | Purchased merchandise from Caesar Salad Co., $23,000, 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 the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
Chart of Accounts
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Journalize the entries to record the transactions of Capers Company for October. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback.
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Score: 22/301
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In: Accounting
(1) If the marginal cost of production is greater than the average cost, in what direction must the average cost be changing, if any?
(4) If the fixed cost of Alex’s engraving business is $100, and the variable cost of each engraving job is $20, what is the marginal cost of the second engraving job?
In: Economics
An MNE from Asia that focuses on agriculture – name and describe the company in one or two sentences.
An MNE from Africa that focuses on transportation – name and describe the company in one or two sentences.
An MNE from Central America that focuses on financial services – name and describe the company in one or two sentences.
An MNE from South America that focuses on energy – name and describe the company in one or two sentences.
An MNE from Europe that focuses on textiles or clothing – name and describe the company in one or two sentences.
An MNE from North America that focuses on raw materials – name and describe the company in one or two sentences.
An MNE from Oceania that focuses on manufacturing – name and describe the company in one or two sentences.
An MNE that does work in Antarctica – any kind of company – name and describe the company in one or two sentences
In: Economics
In: Economics
Please browse the New American Story Project website, reading the testimonials of the unaccompanied minor refugees who have immigrated from Central America to Oakland and the information that’s provided in the interviews of experts. Post a brief response to anything you read on the website.
In: Psychology
Why did most countries of Latin America fall into a debt crisis in the early 1980s? Discuss the general problem of a “debt trap” and national dollar capital inflows and outflows. Then discuss 2 general trends of the 1970s and 2 specific trigger events of the 1980s which caused the crisis.
In: Economics
The cash account for Coastal Bike Co. at October 1, 20Y9, indicated a balance of $32,527. During October, the total cash deposited was $139,121, and checks written totaled $135,890. The bank statement indicated a balance of $43,660 on October 31, 20Y9. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:
| a. | Checks outstanding totaled $6,625. |
| b. | A deposit of $1,888 representing receipts of October 31, had been made too late to appear on the bank statement. |
| c. | The bank had collected for Coastal Bike Co. $5,250 on a note left for collection. The face of the note was $5,000. |
| d. | A check for $260 returned with the statement had been incorrectly charged by the bank as $620. |
| e. | A check for $410 returned with the statement had been recorded by Coastal Bike Co. as $140. The check was for the payment of an obligation to Rack Pro Co. on account. |
| f. | Bank service charges for October amounted to $37. |
| g. | A check for $1,418 from Bay View Condos was returned by the bank due to insufficient funds. |
| Instructions | |
| 1. | Prepare a bank reconciliation as of October 31, 20Y9. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Add:" & "Deduct:" will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign. |
| 2. | Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. |
| 3. | If a balance sheet were prepared for Coastal Bike Co. on October 31, 20Y9, what amount should be reported as cash? |
In: Accounting
Using Bank Reconciliation to Determine Cash Receipts Stolen
Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes. Alaska Impressions Co. discovered during October that one of its salesclerks had stolen an undetermined amount of cash receipts while taking the daily deposits to the bank. The following data have been gathered for October:
| Cash in bank according to the general ledger | $7,030 |
| Cash according to the October 31 bank statement | 16,240 |
| Outstanding checks as of October 31 | 4,640 |
| Bank service charge for October | 20 |
| Note receivable, including interest collected by bank in October | 7,520 |
No deposits were in transit on October 31.
a. Determine the amount of cash receipts stolen
by the sales clerk.
$
b. What accounting controls would have
prevented or detected this theft?
In: Accounting