In: Economics
Marketing assignment
The Inn at Prescott Ranch is a small, boutique hotel located in Prescott, Arizona. It opened in 1998. The Inn has identified the main competition as the Prescott Resort, owned and operated by the Yavapai Nation, and the Hassayampa Inn, a historic hotel in downtown Prescott, adjacent to Whiskey Row.
The Inn has 65 rooms on two floors—each with a private balcony. The nightly room rates are the highest in Prescott. The Inn offers a full array of amenities—both in the public areas and in the rooms. The Inn offers complimentary van service to the Gateway Mall, Bucky’s Casino, and Whiskey Row; and valet parking services with covered parking. There is nightly entertainment in the lobby. In-room amenities include high-thread-count linens; terry robes; organic soaps and toiletries; flat-screen TVs with DVD players; and Bose® stereo systems.
The Inn maintains a full bar and has an agreement with Wildflower Bakery to provide daily continental breakfast for an additional charge to nightly rates or included in the Bed & Breakfast Special. Boxed lunches may also be pre-ordered from Wildflower Bakery. The Inn is not “flagged” or branded. The management is highly involved in local organizations. There is an existing contract with Yavapai College for sponsorship of its performing arts series with Paramount Studies for a project being filmed in the Prescott area. In addition, the Inn at Prescott Ranch has been featured on Arizona Highways TV, Arizona Highways magazine, and in the Arizona Republic travel section. The Inn also participates in the local chamber of commerce and tourism promotional efforts for the Prescott area.
Management is looking for a marketing plan for 2011.
Questions:
1. If you were preparing a marketing plan for this hotel, how would you describe the company, its positioning strategy, and its value proposition?
2. What do you want to know about the market—demographics and psychographics?
3. Describe each of the 4Ps.
4. Without doing further research, who is the perceived target market?
5. Does the hotel have a brand image? If so, define.
In: Operations Management
In your new position as chief financial officer for Gulf Barges Limited, the first task you have been assigned to complete is to prepare the income statement for the 12-month period ended June 30, 2022.
On your desk on your first day, the previous chief financial officer has left you valuable information to complete the task.
1. Total revenue recorded by Gulf Barges Limited during the accounting period was $185,852,000. Included in the total revenue figure is Other Revenue totalling $21,050,000 and Interest Income totalling $2,453,000.
2. Following is a list of expenses incurred by the company.
|
Expense Account |
Total Incurred |
|
Advertising and Marketing Costs |
$2,512,000.00 |
|
Assigned Overhead |
$15,483,000.00 |
|
Direct Labour |
$47,894,000.00 |
|
Direct Material |
$12,560,000.00 |
|
Entertainment |
$561,000.00 |
|
Insurance and Utilities |
$1,690,000.00 |
|
Office Supplies |
$590,000.00 |
|
Repairs and Maintenance |
$1,457,000.00 |
|
Salaries to Administrative Staff |
$6,801,000.00 |
|
Sales Commissions |
$21,036,000.00 |
|
Travel Costs |
$1,260,000.00 |
3. On January 1, 2022, the company sold a block of land held for investment and recognized a gain on the sale of $12,861,000.
4. On April 1, 2022, the company sold equipment that resulted in a loss of $4,891,000.
5. The company incurred finance interest charges during the accounting period of $14,890,000.
6. The company is involved in joint venture operations. As a result of poor financial conditions, the company recorded a net loss of $15,069,000 from its share of the joint venture operations.
7. From the operations of its associate firms, the company recorded a net gain of $4,287,000 for the financial period ended June 30, 2022.
8. If the company reports a profit during the year, the effective corporate tax rate is 25%. If a loss is reported the effective tax rate is zero.
Required:
Using the information supplied, prepare a multi-step income statement for Gulf Barges Limited for the accounting period that is consistent with IFRS IAS 1 requirements and recommendation, and as preferred for this course. (Hint: Expenses should be classified by function (e.g., cost of goods sold) not nature.
In: Accounting
In your new position as chief financial officer for Gulf Barges Limited, the first task you have been assigned to complete is to prepare the income statement for the 12-month period ended June 30, 2022.
On your desk on your first day, the previous chief financial officer has left you valuable information to complete the task.
1. Total revenue recorded by Gulf Barges Limited during the accounting period was $185,852,000. Included in the total revenue figure is Other Revenue totalling $21,050,000 and Interest Income totalling $2,453,000.
2. Following is a list of expenses incurred by the company.
|
Expense Account |
Total Incurred |
|
Advertising and Marketing Costs |
$2,512,000.00 |
|
Assigned Overhead |
$15,483,000.00 |
|
Direct Labour |
$47,894,000.00 |
|
Direct Material |
$12,560,000.00 |
|
Entertainment |
$561,000.00 |
|
Insurance and Utilities |
$1,690,000.00 |
|
Office Supplies |
$590,000.00 |
|
Repairs and Maintenance |
$1,457,000.00 |
|
Salaries to Administrative Staff |
$6,801,000.00 |
|
Sales Commissions |
$21,036,000.00 |
|
Travel Costs |
$1,260,000.00 |
3. On January 1, 2022, the company sold a block of land held for investment and recognized a gain on the sale of $12,861,000.
4. On April 1, 2022, the company sold equipment that resulted in a loss of $4,891,000.
5. The company incurred finance interest charges during the accounting period of $14,890,000.
6. The company is involved in joint venture operations. As a result of poor financial conditions, the company recorded a net loss of $15,069,000 from its share of the joint venture operations.
7. From the operations of its associate firms, the company recorded a net gain of $4,287,000 for the financial period ended June 30, 2022.
8. If the company reports a profit during the year, the effective corporate tax rate is 25%. If a loss is reported the effective tax rate is zero.
Required:
Using the information supplied, prepare a multi-step income statement for Gulf Barges Limited for the accounting period that is consistent with IFRS IAS 1 requirements and recommendation, and as preferred for this course. (Hint: Expenses should be classified by function (e.g., cost of goods sold) not nature.
In: Accounting
In: Economics
1.Explain why trade leads to mutually beneficial gains
2. Provide a definition of comparative advantage and absolute advantage and make sure that you describe the difference.
3. Think about an example from your own life, someone you know, sports, entertainment, or business that demonstrates how comparative advantage is used in the real world.
In: Economics
We have been trained at an early age that more is better, more cookies, more clothes, more entertainment is better than less. GDP measures the market value of all of these things and much more. However, can you think of any reasons why increases in the level of GDP might not necessarily result in a greater level of happiness?
In: Economics
Promissory Notes
A college student, Austin Keynes, wished to purchase a new entertainment system from Friedman Electronics,Inc.Because Keynes did not have the cash to pay for the entertainment system, he offered to sign a note promising to pay $150 per month for the next six months.Friedman Electronics,eager to sell the system to Keynes, agreed to accept the promissory note, which read, “I, Austin Keynes, promise to pay to Friedman Electronics or its order the sum of $150 per month for the next six months.”The note was signed by Austin Keynes. About a week later, Friedman Electronics, which was badly in need of cash, signed the back of the note andsold it to the First National Bank of Halston.Give the specific designation of each of the three parties on this note. (See types of Negotiable Instruments)
Answer this using the IRAC writing Format
I-Describe the issue at hand (the question being asked)
R-Describe the rule that is applicable in this situation
A-Apply the rule to the facts of yor situation
C-Draw a conclusion
In: Accounting
Monty Corporation has provided the following information for the
year ended December 31, 2020.
| Monty Corporation Income Statement For the Year Ended December 31, 2020 |
||||
| Revenue | ||||
| Service Revenue | 102,500 | |||
| Dividend Revenue | 11,000 | $113,500 | ||
| Operating Expenses | ||||
| Supplies Expense | 2,200 | |||
| Depreciation Expense | 20,900 | |||
| Advertising Expense | 1,000 | |||
| Meals and Entertainment Expense | 6,000 | |||
| Rent Expense | 9,400 | |||
| Litigation Expense | 8,300 | |||
| Salaries and Wages Expense | 40,600 | |||
| Warranty Expense | 4,100 | 92,500 | ||
| Operating Income before income tax | $21,000 | |||
Additional Information:
| 1. | Monty is privately owned, and uses ASPE. The dividend revenue represents dividends received from taxable Canadian corporations. | |
| 2. | Monty’s income tax rate is 30%. | |
| 3. | On January 1, 2020, Monty had a future tax liability of $3,135 related to its property, plant, and equipment (PPE). | |
| 4. | During the year warranty expense of $4,100 was accrued. One half of this amount was paid during 2020. This is the first year Monty offers warranties on services rendered. | |
| 5. | Property, plant, and equipment was purchased for $104,500 on January 1, 2019. These assets are being depreciated on a straight-line basis over five years with no residual value and have a 20% CCA rate. This PPE is considered “eligible equipment” for purposes of the Accelerated Investment Incentive (the “AII”) (under the AII, instead of using the half-year rule, companies are allowed a first-year deduction using 1.5 times the standard CCA rate). | |
| 6. | On July 1, Monty was sued by a competitor. Although the lawsuit has not been finalized, management believes that it is likely that a settlement will be reached in the next year for $8,300. | |
| 7. |
On November 30, $4,000 cash was paid in advance for four months of advertising, starting Dec. 1. |
Calculate taxable income and taxes payable for 2020.
| Taxable Income | $ | |
| Taxes Payable | $ |
Prepare the journal entries to record 2020 income taxes (current
and future). (Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for the amounts.)
|
Account Titles and Explanation |
Debit |
Credit |
|
(To record current tax expense.) |
||
|
(To record future tax expense.) |
In: Accounting
Please finish the following assignments in Excel and submit the Excel file onto Pilot.
Please use the data in “GPS.XSLS” to:
| Year | Sales (00s) |
| 1990 | 164 |
| 1991 | 276 |
| 1992 | 578 |
| 1993 | 1604 |
| 1994 | 3435 |
| 1995 | 5785 |
| 1996 | 8500 |
| 1997 | 12000 |
| 1998 | 15000 |
| 1999 | 18000 |
| 2000 | 20000 |
Please show the steps thank you
In: Statistics and Probability