Do you think that people from Canada and the US are greatly different or generally the same? What are the differences? How would you use the sociological perspectives to measure the differences? What are some implications for you as an international student/immigrant/global citizen? While comparing the two cultures in the North America, have you gained any insight regarding how to perceive other cultures that might seem similar at the first sight?
Include in-text citations and at least 1 reference. Please note using the textbook as a reference is mandatory for this discussion.
In: Psychology
In: Psychology
In the US, the Federal Trade Commission (FTC) is tasked with collecting information from consumers and passing on this information to other administrative bodies and policy makers.While the FTC cannot resolve individual complaints, it aggregates this information and passes it on to relevant agencies so that other agencies and policy makers can formulate laws and regulations.
You went to a used car dealer and purchased a used car (“as-is”) without a warranty contract. Let’s say that you cut them a check for $2500 and drove it off the lot. Within 20 minutes of driving it, the car’s engine dies. You take it to your mechanic, who tells you that the timing belt failed and the engine seized as a result. You now need a brand new engine (worth over $3000)
How might you act to resolve this issue? Are there any laws or regulations that could protect your rights in this situation? Are there any governmental bodies that might help you with this situation? Are there any state or federal governmental representatives that might help you in this situation or even prevent such situations from happening to someone else in the future?
In: Operations Management
EuroUSA Bank (a fictitious name) is a dealer in the currency market. It posts bid prices for euros of $1.5000 and ask (or offer) prices for euros of $1.5010 in three months’ time. The following companies decide to trade forward contracts with the EuroUSA bank at the above prices. All payments are due in three months.
In: Finance
A pharmacutical company is testing a new allergy medication. They will consider the drug to be effective if the percentage of patients in the treatment group whose symptoms get better is 15% more than the percentage of patients in the control group whose symptoms get better. For example, if 10% of patients in the control get better, and 30% of patients in the treatment group get better, they will consider the drug to be effective, since 30% - 10% = 20% > 15%.
After collecting data from 32 subjects who received the medication and 32 who did not, they find that a 95% confidence interval for the difference in the treatment and control group is (15%, 16%).
Interpret these findings: Select your answer from one of the following options.
In: Statistics and Probability
a.
a. For May 2020, the cost of Direct Materials transferred into the Filling Dept. of a liquid soap company is $20,200. Direct Labor cost incurred for the same department is unknown, and Factory Overhead cost applied to production is 80% of Direct Labor cost. The total cost of finished goods transferred out of the Filling Dept. is $85,600. The cost of beginning work in process (WIP) inventory in the Filling Dept. on May 1 was $12,000 and the ending balance in WIP Inventory-Filling on May 31 is $6,000. Calculate the cost of Direct Labor incurred by the Filling Dept. during May 2020.
b. The following data is taken from the production budget for the year: Beginning finished goods units 11,000; Units to be produced in the first quarter 82,000; First quarter sales units 58,000; Sales units budgeted for the second quarter 68,000. Second quarter finished goods inventory is budgeted at 12,000 units. Calculate units to produce in the second quarter.
In: Accounting
| Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands) |
|||
|---|---|---|---|
| Cash | 9,700 | Accounts Payable | 1,500 |
| Accounts Receivable | 4,500 | Debt | 2,900 |
| Inventory | 3,800 | Other Liabilities | 800 |
| Property Plant & Equipment | 16,400 | Total Liabilities | 5,200 |
| Other Assets | 1,700 | Paid-In Capital | 7,300 |
| Retained Earnings | 23,600 | ||
| Total Equity | 30,900 | ||
| Total Assets | 36,100 | Total Liabilities & Equity | 36,100 |
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020
1. Buy $15,000 worth of manufacturing supplies on credit
2. Issue $85,000 in stock
3. Borrow $63,000 from a bank
4. Pay $5,000 owed to a supplier
5. Receive payment of $12,000 owed by a customer
6. Purchase equipment for $44,000 in cash
7. Pay $7,000 owed to a supplier
What is the final amount in Accounts Receivable?
In: Accounting
We Chat Ltd has Cash at Bank balance as per the company’s record of $10,665 debit as at 29th February 2020. The bank statement balance from Citigroup Bank showed a credit balance of $9,450. A comparison of the statement with the cash account revealed the following:
1. Unpresented cheques at 29 February totalled $5,405, and outstanding deposits were $6,900.
2. Included with the cheques paid was a cheque issued by Click and Go Ltd to M. Phelps for $450 that was incorrectly charged to We Chat Ltd by the bank.
3. The bank statement included a debit entry of $90 for the printing of additional company cheques.
4. Included on the bank statement was a credit entry of $820 indicating the collection of a note receivable for We Chat Ltd by the bank on 15 February
Required
a. Prepare a bank reconciliation at 29th February based on the provided information.
b. Prepare the necessary adjusting entries as at 29th February 2020
In: Accounting
Red Squirrel Ltd. provides audited financial statements to its creditors and is required to maintain certain covenants based on its debt to equity ratio and return on assets. In addition, management at Red Squirrel Ltd. receive a bonus partially based on revenues for the year. Additional information related to Red Squirrel Ltd. is shown below:
1. Depreciation expense on the building for the year was $45,000. Since the building was increasing in value during the year, the controller decided not to record any depreciation expense in the current year.
2. An order for $61,500 was received from a customer on December 29, 2020 for products on hand. This order was shipped f.o.b. shipping point on January 3rd, 2021. The company made the following entry in December (prior to yearend of 2020):
Accounts Receivable 61,500
Sales Revenue 61,500
Please comment on the appropriateness of Red Squirrel’s accounting procedures and their impact on the company’s financial statement users for both scenarios, applying the conceptual framework.
In: Accounting
Red Squirrel Ltd. provides audited financial statements to its creditors and is required to maintain certain covenants based on its debt to equity ratio and return on assets. In addition, management at Red Squirrel Ltd. receive a bonus partially based on revenues for the year. Additional information related to Red Squirrel Ltd. is shown below: 1. Depreciation expense on the building for the year was $45,000. Since the building was increasing in value during the year, the controller decided not to record any depreciation expense in the current year. 2. An order for $61,500 was received from a customer on December 29, 2020 for products on hand. This order was shipped f.o.b. shipping point on January 3rd, 2021. The company made the following entry in December (prior to yearend of 2020): Accounts Receivable 61,500 Sales Revenue 61,500 Please comment on the appropriateness of Red Squirrel’s accounting procedures and their impact on the company’s financial statement users for both scenarios, applying the conceptual framework.
In: Accounting