Select a company (Online Article) you want to learn more about, fill out the following external environment worksheet for that company. you may chose diferent company for each question (5-7 sentences)

1)Competitors: What companies compete with the firm you have selected? Do they compete on price, on quality, or on other factors?)

2)New entrants: Are new competitors to the company likely? Possible?

3)Substitutes and complements: Is there a threat of substitutes for the industry’s existing products? Are there complementary products that suggest an opportunity for collaboration?

4)Customers: What characteristics of the company’s customer base influence the company’s competitiveness?

1.What are some of the common problems users encounter when trying to compare financial statements of companies (even when they are in the same industry)? Describe how using XBRL could help alleviate these problems.

2. What are the current XBRL filing requirements for publicly-listed firms in the US?

3. Why should a business create XBRL-enabled financial reports?

4. Does the FDIC require banks to file any report(s) using XBRL? If so, which reports?

Problem 1

Julian, age 27, has two children, ages 4 and 3, from his first marriage. He is now married to Margaret. The children live with their mother, Alice. Julian and Margaret each make $26,000 per year and have recently bought a house for $100,000, with a $95,000 mortgage. They have the following life, health, and disability insurance coverage: Life Insurance

Health Insurance Julian and Margaret are covered under Julian’s employer plan, which is a PPO plan with a $500 in-network deductible per person per year and a $1,500 out-of-network deductible per person per year, an in-network 80/20 coinsurance clause with a family annual out-of-pocket maximum of $2,500, and an out-of-network 60/40 coinsurance clause with a family out-of-pocket maximum of $4,500.

Long-Term Disability Insurance Julian is covered by an own occupation policy, with premiums paid by his employer. The benefit equals 60% of his gross pay after a 180-day elimination period. The policy covers both sickness and accidents. The benefit period is five years (60 months). Margaret is not covered by disability insurance.

a. Assume that Julian dies. Who would receive the proceeds of the insurance policies?

b. Does Julian have adequate life insurance?

c. Is Julian’s health and disability coverage adequate? If not, why not?

d. Should Margaret have disability insurance? Why or why not?

e. Are any of the premiums or benefits received from the life, health, or disability insurance taxable to Julian and Margaret?

Problem 14-27 (Algo) (LO 14-3, 14-9, 14-10)

The following is the current balance sheet for a local partnership of doctors:

The following questions represent independent situations:

1. E is going to invest enough money in this partnership to receive a 25 percent interest. No goodwill or bonus is to be recorded. How much should E invest?

2. E contributes $36,000 in cash to the business to receive a 10 percent interest in the partnership. Goodwill is to be recorded. Profits and losses have previously been split according to the following percentages: A, 30 percent; B, 10 percent; C, 40 percent; and D, 20 percent. After E makes this investment, what are the individual capital balances?

3. E contributes $50,000 in cash to the business to receive a 20 percent interest in the partnership. Goodwill is to be recorded. The four original partners share all profits and losses equally. After E makes this investment, what are the individual capital balances?

4. E contributes $44,000 in cash to the business to receive a 15 percent interest in the partnership. No goodwill or other asset revaluation is to be recorded. Profits and losses have previously been split according to the following percentages: A, 10 percent; B, 30 percent; C, 20 percent; and D, 40 percent. After E makes this investment, what are the individual capital balances?

5. C retires from the partnership and, as per the original partnership agreement, is to receive cash equal to 140 percent of her final capital balance. No goodwill or other asset revaluation is to be recognized. All partners share profits and losses equally. After the withdrawal, what are the individual capital balances of the remaining partners?

b. E contributes $36,000 in cash to the business to receive a 10 percent interest in the partnership. Goodwill is to be recorded. Profits and losses have previously been split according to the following percentages: A, 30 percent; B, 10 percent; C, 40 percent; and D, 20 percent. After E makes this investment, what are the individual capital balances?

c. E contributes $50,000 in cash to the business to receive a 20 percent interest in the partnership. Goodwill is to be recorded. The four original partners share all profits and losses equally. After E makes this investment, what are the individual capital balances?

d. E contributes $44,000 in cash to the business to receive a 15 percent interest in the partnership. No goodwill or other asset revaluation is to be recorded. Profits and losses have previously been split according to the following percentages: A, 10 percent; B, 30 percent; C, 20 percent; and D, 40 percent. After E makes this investment, what are the individual capital balances?

e. C retires from the partnership and, as per the original partnership agreement, is to receive cash equal to 140 percent of her final capital balance. No goodwill or other asset revaluation is to be recognized. All partners share profits and losses equally. After the withdrawal, what are the individual capital balances of the remaining partners?

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The Triquel Theater Inc. was recently formed. It began operations in March 2017. The Triquel is unique in that it will show only triple features of sequential theme movies. On March 1, the ledger of The Triquel showed Cash $18,800; Land $40,800; Buildings (concession stand, projection room, ticket booth, and screen) $22,000; Equipment $16,000; Accounts Payable $14,800; and Common Stock $82,800. During the month of March, the following events and transactions occurred:

Dell
In January 2006, Dell, the world’s largest computer maker, announced plans to setup its fourth call center in India. The company already employs over 10,000 people in its Indian call centers, which provided a telephone help desk service to its many thousands of customers around the world. Like many other Western companies, Dell was attracted to India by the abundance of low-cost English-speaking workers, many of whom are well qualified and highly IT literate. Locating call centers in India sounds like a good deal all round. Customers get access 24 hours a day, 7 days a week wherever they are in the world, companies are able to reduce costs, and workers in a developing country get jobs.
However, not everyone is happy. Niels Kjellerup, Publisher and Editor of The Call Centre Managers Forum, an online chat room for call center managers, argues that the rush to outsource customer contact operations to cheaper locations has resulted in the worst of management practices in US and UK call centers being exported as ‘World Class Call Centre Practice’ in countries like India. He says that too often what is seen in India is bad customer service delivered cheaply. He claims that many Indian call centers are run as sweatshops with intelligent people being treated like cattle. Call center managers with little or no previous experience adopt ‘idiotic vendor measures’ such as ‘how many calls’ and ‘how short’, which simply result in the delivery of poor levels of customer service.
Agents are required to work nine and a half hours a day, but typically work anywhere from 12 to 16 hours. Processing 28 calls an hour is mandatory. Another target is to ensure that no customer calls back within seven days. The informant claimed that there are few, if any allowances for time off, even for doctor visits, sick days or handling family emergencies.

mperial Jewelers manufactures and sells a gold bracelet for $408.00. The company’s accounting system says that the unit product cost for this bracelet is $264.00 as shown below: Direct materials $ 147 Direct labor 83 Manufacturing overhead 34 Unit product cost $ 264 The members of a wedding party have approached Imperial Jewelers about buying 27 of these gold bracelets for the discounted price of $368.00 each. The members of the wedding party would like special filigree applied to the bracelets that would require Imperial Jewelers to buy a special tool for $460 and that would increase the direct materials cost per bracelet by $11. The special tool would have no other use once the special order is completed. To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $12.00 of the overhead is variable with respect to the number of bracelets produced. The company also believes that accepting this order would have no effect on its ability to produce and sell jewelry to other customers. Furthermore, the company could fulfill the wedding party’s order using its existing manufacturing capacity. Required: 1. What is the financial advantage (disadvantage) of accepting the special order from the wedding party? 2. Should the company accept the special order?

Imperial Jewelers manufactures and sells a gold bracelet for $406.00. The company’s accounting system says that the unit product cost for this bracelet is $270.00 as shown below:

The members of a wedding party have approached Imperial Jewelers about buying 27 of these gold bracelets for the discounted price of $366.00 each. The members of the wedding party would like special filigree applied to the bracelets that would require Imperial Jewelers to buy a special tool for $452 and that would increase the direct materials cost per bracelet by $5. The special tool would have no other use once the special order is completed.

To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $6.00 of the overhead is variable with respect to the number of bracelets produced. The company also believes that accepting this order would have no effect on its ability to produce and sell jewelry to other customers. Furthermore, the company could fulfill the wedding party’s order using its existing manufacturing capacity.

Required:

1. What is the financial advantage (disadvantage) of accepting the special order from the wedding party?

2. Should the company accept the special order?

Imperial Jewelers manufactures and sells a gold bracelet for $404.00. The company’s accounting system says that the unit product cost for this bracelet is $259.00 as shown below:

The members of a wedding party have approached Imperial Jewelers about buying 27 of these gold bracelets for the discounted price of $364.00 each. The members of the wedding party would like special filigree applied to the bracelets that would require Imperial Jewelers to buy a special tool for $467 and that would increase the direct materials cost per bracelet by $5. The special tool would have no other use once the special order is completed.

To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $6.00 of the overhead is variable with respect to the number of bracelets produced. The company also believes that accepting this order would have no effect on its ability to produce and sell jewelry to other customers. Furthermore, the company could fulfill the wedding party’s order using its existing manufacturing capacity.

Required:

1. What is the financial advantage (disadvantage) of accepting the special order from the wedding party?

2. Should the company accept the special order?

23. what group in a country lose as a result of a tariff?

a.gavernment

b. domestic producers

c. Domestic consumers

d. all of above lose

24. What insight has experimental economics given to the field of economics?

25. Which of the following is true at equilibrium?

a. all of above

b. unexploited gains from trade remain in the market

c. producer surplus is maximized

d. quantity supplied equals quantity demanded

26. A new tariff is placed on imported cars in the amount of $2,000 per car. if 900,000 cars were imported before the tariff and 825,000 are after the tariff then

a. the government gets tariff revenue of $150 million

b. consumers surplus decreases by $1.8 billion

c. the government gets tariff revenue of $1.65 billion

d.75,000 more domestic cars are sold after the tariff

27. Tariff produce deadweight losses due to

a. a reduction in the number of trades

b. domestic producer profits increasing

c. an increase in imports

d. the government receiving tax revenue