Suppose that the GDP of the country of Zambia is growing at 1% each year. Also suppose that Zambia has a constant
velocity of money and it decides to print money at a much faster rate increasing its money supply by 20%. Using the
quantity theory of money, what happens to the price level in Zambia as a result of the printing of money? In other words, will
they have inflation? If so, how much? Explain.

Winston Company estimates that the factory overhead for the following year will be $1,316,700. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 39,900 hours. The total machine hours for the year were 54,400 hours. The actual factory overhead for the year was $1,820,000. Enter the amount as a positive number.

a. Determine the total factory overhead amount applied.
$

b. Calculate the over- or underapplied amount for the year.
$  

c. Prepare the journal entry to close factory overhead into Cost of Goods Sold.

At the end of the current year, the accounts receivable account has a debit balance of $1,095,000 and sales for the year total $12,420,000.

1. The allowance account before adjustment has a debit balance of $14,800. Bad debt expense is estimated at 3/4 of 1% of sales.
2. The allowance account before adjustment has a debit balance of $14,800. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $47,400.
3. The allowance account before adjustment has a credit balance of $5,300. Bad debt expense is estimated at 1/4 of 1% of sales.
4. The allowance account before adjustment has a credit balance of $5,300. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $44,000.

Starting at the end of this year, you plan to make annual deposits of $6,000 for 4 years followed by annual deposits of $10,000 for the following 5 years. The deposits earn interest of 3.5%. What will the account balance be at the end of 13 years?

Assume that current sales are $30 million, and are expected to grow by 12% in year 1 and 2. The after-tax profit margin is projected at 8% in year 1, and 9.2% in year 2. The number of shares outstanding is anticipated to be 450,000 for year 1, and 500,000 for year 2. Calculate the projected earnings per share for the next two years.

20. A weakness of many struggling retailers this year may be due to the cost of operating too many branch stores with their high overhead - on top of the pandemic.

True or False

21. Warby Parker is a socially conscious accessories and apparel company that has built a global movement connecting customers to social change.

True or False

22. Demographics include population or consumer statistics regarding socioeconomic factors such as age, income, gender, occupation, education, family size, etc.

True or False

23. The three basic service levels in brick-n-mortar retailers are self-service, self selection and phone service.

True or  False

25. Product depth is the variety within each assortment category, with a  deep assortment having  many sizes or color offerings while a shallow assortment  has few size or color offerings.

True or false

26. A commissary store is a retailer that serves the environment in which it is housed, such as a hair/nail salon  or gift shop in a hotel lobby.

True or false

27. A big box retail location is a mixed-use property where one building can house retail/ restaurants/gyms/offices/ services on lower levels, and apartments/condos above on upper floors.

True or false

30. Shop! Retail Environments is an example of a trade periodical while  Inc. Magazine is an example of a consumer periodical.

True or false

31. A broad assortment contains  many styles of a product category , while a narrow assortment contains few styles.

True or false

32. A liquid asset is a reference to cash on hand or an asset that can be readily converted to cash; a non-liquid asset is not readily converted to cash – i.e., property, as there is no guarantee it will sell within a certain time period.

True or false

33. The three major levels of retail competition are Product Field, Subfield and Assets/Liabilities.

True or false

34. Referring to Ilse Metchek's guest presentation, The California Fashion Association (CFA) is the Business-to-Business (B2B) forum for California's Apparel and Textile Industries.

True or false

35. Consumers being shown the breakdown of the retail price of the products they buy - what the labor, materials, duties and transport as well as the store's profit - is known as retail vision.

True or false

The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following:

Income before income tax was $336,000, and income taxes were $51,000 for the current year. Cash dividends paid on common stock during the current year totaled $31,920. The common stock was selling for $160 per share at the end of the year.

Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required.

7. EX.17-21.ALGO

eBook

Earnings per Share, Price-Earnings Ratio, Dividend Yield

The following information was taken from the financial statements of Tolbert Inc. for December 31 of the current fiscal year:

The net income was $1,000,000 and the declared dividends on the common stock were $62,500 for the current year. The market price of the common stock is $19.60 per share.

For the common stock, determine (a) the earnings per share, (b) the price-earnings ratio, (c) the dividends per share, and (d) the dividend yield. If required, round your answers to two decimal places.

8. PR.17-04.ALGO

eBook

Measures of liquidity, Solvency, and Profitability

The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 63 on December 31, 20Y2.

Required:

Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year.

What is the present value of $2,100 a year at a discount rate of 8 percent if the first payment is received 7 years from now and you receive a total of 23 annual payments?

ABC stock is expected to pay a dividend of $3.85 in 1 year. The stock is currently priced at $64.80, is expected to be priced at $69.29 in 1 year, and is expected to be priced at $72.78 in 2 years. What is the dividend in 2 years expected to be for ABC stock? The stock’s dividend is paid annually and the next dividend is expected in 1 year.

Suppose it is the year 1768, and you are chief assistant to Francois Quesnay, A group of English intellectuals is visiting Paris, and you have been asked by Quesnay to describe the Physiocratic system to them. A typical French person, you assume that your English audience is comprised of ignorant dolts who are nonetheless eager for Enlightenment. What would you tell them about Physiocratic thought? Be sure to consider, the background as- sumptions of Physiocratic thought, the three classes, and their interaction as revealed by the Tableau Economique, and the policy implications of your ideas. (3 paragraphs)