A hospital consortium contracted with a private company to collect fees and maintain health facilities that adjoin their property. Users of the health facility can pay cash of R10 for a daily visit or they can purchase a pass. The pass has a magnetic strip that is swiped through the entrance device each time an individual enters the facility. This subtracts daily fee from the pass balance for each day used. The passes are issued for a fee of R365, which are good for 365 days. Refunds are not issued on the pass. Last year R18,650 was collected for daily visits, R438,000 of annual passes were issued, and R206,225 of pass usage was registered on the scanning equipment. How much should the company recognize as revenue for the year? Explain how the revenue recognition rule should be applied in this case.
In: Accounting
QUESTION 2
A hospital consortium contracted with a private company to collect fees and maintain health facilities that adjoin their property. Users of the health facility can pay cash of R10 for a daily visit or they can purchase a pass. The pass has a magnetic strip that is swiped through the entrance device each time an individual enters the facility. This subtracts daily fee from the pass balance for each day used. The passes are issued for a fee of R365, which are good for 365 days. Refunds are not issued on the pass. Last year R18,650 was collected for daily visits, R438,000 of annual passes were issued, and R206,225 of pass usage was registered on the scanning equipment. How much should the company recognize as revenue for the year? Explain how the revenue recognition rule should be applied in this case.
In: Accounting
Skysong Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.
|
Item No. |
Quantity |
Cost per Unit |
Cost to Replace |
Estimated Selling Price |
Cost of Completion and Disposal |
Normal Profit |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
1320 |
1,500 | $3.39 | $3.18 | $4.77 | $0.37 | $1.33 | ||||||||||||
|
1333 |
1,200 | 2.86 | 2.44 | 3.71 | 0.53 | 0.53 | ||||||||||||
|
1426 |
1,100 | 4.77 | 3.92 | 5.30 | 0.42 | 1.06 | ||||||||||||
|
1437 |
1,300 | 3.82 | 3.29 | 3.39 | 0.27 | 0.95 | ||||||||||||
|
1510 |
1,000 | 2.39 | 2.12 | 3.45 | 0.85 | 0.64 | ||||||||||||
|
1522 |
800 | 3.18 | 2.86 | 4.03 | 0.42 | 0.53 | ||||||||||||
|
1573 |
3,300 | 1.91 | 1.70 | 2.65 | 0.80 | 0.53 | ||||||||||||
|
1626 |
1,300 | 4.98 | 5.51 | 6.36 | 0.53 | 1.06 | ||||||||||||
From the information above, determine the amount of Skysong Company
inventory.
In: Accounting
Exercise 9-7 Ayayai Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.
| item No. | Quantity | Cost per Unit | Cost to Replace | Estimated Selling Price | Cost of Completion and Disposal | Normal Profit |
| 1320 | 1,400 | $3.30 | $3.09 | $4.64 | $0.36 | $1.29 |
| 1333 | 1,100 | 2.78 | 2.37 | 3.61 | 0.52 | 0.52 |
| 1426 | 1,000 | 4.64 | 3.81 | 5.15 | 0.41 | 1.03 |
| 1437 | 1,200 | 3.71 | 3.19 | 3.30 | 0.26 | 0.93 |
| 1510 | 900 | 2.32 | 2.06 | 3.35 | 0.82 | 0.62 |
| 1522 | 700 | 3.09 | 2.78 | 3.91 | 0.41 | 0.52 |
| 1573 | 3,200 | 1.85 | 1.65 | 2.58 | 0.77 | 0.52 |
| 1626 | 1,200 | 4.84 | 5.36 | 6.18 | 0.52 | 1.03 |
From the information above, determine the amount of Ayayai Company inventory.
In: Accounting
Coronado Company follows the practice of pricing its inventory
at the lower-of-cost-or-market, on an individual-item
basis.
|
Item No. |
Quantity |
Cost per Unit |
Cost to Replace |
Estimated Selling Price |
Cost of Completion and Disposal |
Normal Profit |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
1320 |
1,800 | $3.58 | $3.36 | $5.04 | $0.39 | $1.40 | ||||||||||||
|
1333 |
1,500 | 3.02 | 2.58 | 3.92 | 0.56 | 0.56 | ||||||||||||
|
1426 |
1,400 | 5.04 | 4.14 | 5.60 | 0.45 | 1.12 | ||||||||||||
|
1437 |
1,600 | 4.03 | 3.47 | 3.58 | 0.28 | 1.01 | ||||||||||||
|
1510 |
1,300 | 2.52 | 2.24 | 3.64 | 0.90 | 0.67 | ||||||||||||
|
1522 |
1,100 | 3.36 | 3.02 | 4.26 | 0.45 | 0.56 | ||||||||||||
|
1573 |
3,600 | 2.02 | 1.79 | 2.80 | 0.84 | 0.56 | ||||||||||||
|
1626 |
1,600 | 5.26 | 5.82 | 6.72 | 0.56 | 1.12 | ||||||||||||
From the information above, determine the amount of Coronado
Company inventory.
In: Accounting
1. Suppose the government restricts foreign lenders from lending money in the US loanable funds market. What happens to the equilibrium interest rate in the US?
2. Suppose credit card companies encourages households to spend more. What happens to the equilibrium quantity of loans in the loanable funds market?
In: Economics
List the major senses in brain. Each sense requires the interpretation of different kinds of information impinging upon us from our environment. In what form(s) does the information do we sense come to us, and what sense organs are stimulated. Describe this in greater detail for two senses.
In: Psychology
We have the spot rate for Japanese Yens to be Y121 per $1. The nominal (riskless) rates in Japan and US are 0.05 and .07 respectively. The forward rate is Y118 per $1. What nominal (riskless) rate of return for $ investments can an US investor earn by benefitting from the above rates?
In: Finance
Population growth and unemployment issue are in a directly proportional relationship.
The rapid growth in the
population is one of the main reasons leading to the issue of
unemployment, and at the same time it negatively affects employment
opportunities. Especially reduces job opportunities. Because of the
increase in population during that time, the unemployment issue
became one of the most important issues in the world. For any
business in the world, there is a limit to the number of workers in
each field so that they cannot take more than the specified limit.
Companies, government, hospitals, school, and other workplaces will
not be able to allow all young people to join work even if they
have the highest level of education.
50% of people who answered the survey questions believe that the
increase or rise of the population is one of the main causes and
causes of the issue of unemployment in the world. So, as we see
that this is not a low percentage we can say because the population
increase leads to the problem of unemployment, which can affect the
young people who are still looking for work.
According to Mansour Salih, of the Event Experts Company, people
looking for work are at least three times the opportunities in this
country. This can tell us that jobs available in the country will
not suit all people looking for a job. This means that a large
population searches for work in a small labor market. The job will
be given to a very small number of people and the rest will remain
without work, which may lead to an unemployment problem.
As Thuraya Ahmed Obaid said (UN Under-Secretary-General 2000-2010)
“We cannot confront the massive challenges of poverty, hunger,
disease, unemployment, and environmental destruction unless we
address issues of population and reproductive
health”. (Obaid, n.d.)
We have to focus on the
main problem to solve all other problems, and the main problem is
rapid population growth. A recent case carried out by the
University of Prishtina Faculty of Applied societies in Ferizaj
KOSOVA shows that due to the rapid growth of the population the
unemployment rate increases, which indicates that the relationship
between population growth and unemployment is directly
proportional. As the population increases, many people will
experience unemployment and as a result the number of unemployed
increases as well. (AFRIM LOKU , GAZMEND
DEDA, 2013)
Population growth affects
employment at different levels such as personal, social, and global
levels, and according to survey responses when the country has a
large population, this will affect the individual negatively
because it will be difficult for him to find a suitable job. Many
people will remain without work, so social media will be affected
as well. Without a job, people will not be able to reconcile with
one another which may lead to a lack of communication.
Looking at the global level, the unemployment rate will increase as
long as the population increase will keep many people around the
world without work. We suggested measuring population growth and
unemployment in an inversely proportional relationship. In this
way, if the population increases, the unemployment rate will
decrease, so there will be more places of work in the country.
Moreover, a helpful solution is to open more employment exchange
venues to inform people about employment information. Also, to
avoid unemployment people must build themselves by setting up their
own businesses. This will help the employer as well as people
looking for jobs.
Finally, the UAE government has developed some programs to help
young people find a job such as Tawteen and Absher Council. These
programs support the young Emirates looking for work, the main
purpose of which is to reduce the problem of unemployment in the
country, even if the population increases continuously and
rapidly. (Shhehab Al Makahleh, Samia Badih And Sara
Sabry, Staff Reporters, 2012)
In: Economics
You buy a 20-year bond with a coupon rate of 9.6% that has a yield to maturity of 10.6%. (Assume a face value of $1,000 and semiannual coupon payments.) Six months later, the yield to maturity is 11.6%. What is your return over the 6 months?
A bond has a face value of $1,000, a coupon of 5% paid annually, a maturity of 40 years, and a yield to maturity of 8%. What rate of return will be earned by an investor who purchases the bond for $642.26 and holds it for 1 year if the bond’s yield to maturity at the end of the year is 9%?
In: Finance