The following is from an article in the “Overheard” section in the Wall Street Journal:
“Hi, I’m a Mac.”
“And I’m a PC.”
“I like to stay in those posh hotels with free coffee and 700-threadcount sheets.”
“I like to stay at Motel 6.”
That is the latest revelation about the great computing divide, courtesy of Orbitz Worldwide CEO Barney Harford. Touting his company’s ability to differentiate itself by slicing and dicing customer data; he let on that those booking hotel rooms using Apple computers pay on average $20 more a night. The explanation could be simple: Anyone who pays a 50% or so premium for a MAC has more money to begin with. Either that or they are the ideal consumer – the type who pays through the nose for a brand.
a. All else equal, the data could suggest the demand for Mac computers has higher income elasticity than the demand for PCs.
b. When the author writes MAC buyers will “pay through the nose for a brand”, he/she assumes the computers are close or perfect substitutes.
c. If consumers will “pay through the nose for a brand”, the demand curve for branded products should be relatively inelastic compared to non-branded products.
d. All of the above answers are correct.
e. Only answers a. and b. are correct.
In: Economics
Indicate which governmental fund would most likely be used to record the following events and transactions:
A) debt service fund B) permanet fund C) general fund D) Special Revenue Fund E) Capital projects fund
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--The City sent property tax bills to taxpayers to help cover day-to-day operations. |
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--The City received a Federal grant fund an alternative sentencing program. --Cash was transferred to this fund to accumulate resources to pay general obligation bond debt. --Received $2,000,000 in Federal grant money to construct a new police substation. --Received a donation from a private citizen with the stipulation that the corpus be kept in perpetuity, but the earnings are to be used to purchase media for the public library. --The proceeds from a $1,000,000 general obligation bond issued to convert abandoned railways into walking and bicycle trails in the City were deposited in this fund. --The mayor was paid her monthly salary from this fund. --The County levies a hotel occupancy tax that may only be used to fund parks and other recreational facilities. --Progress payment #2 to the general contractor on a $8,000,000 new City Hall facility were issued. --Paid the invoice received from a human resoruces consultant hired to review and evaluate the City's personnel manual. |
In: Accounting
PROBLEM 1
Required:
Part 1: Complete a Balance Sheet and analyze using vertical and horizontal analysis. Then
answer a few questions regarding the absolute (dollar) changes.
Part 2: Complete a Summary Operating Statement (Income Statement) and analyze using
vertical and horizontal analysis.
Part 3: Complete a Statement of Cash Flows.
Part 1:
Below are the balance sheet accounts and balances for The Cougar Hotel for the years 20X7
and 20X8, please complete the following:
1. Organize the information into the correct Balance Sheet Format. Proper format
includes:
a. Headings
b. Dates
c. Subtotals/Totals
d. Vertical Analysis
e. Horizontal Analysis
20X7 20X8
Accounts Payable 100,000 500,000
Accounts Receivable 500,000 100,000
Accumulated Depreciation (7,000,000) (12,000,000)
Building 20,000,000 25,000,000
Cash 600,000 400,000
Common Stock 20,000,000 25,000,000
Current Portion of Mortgage 1,250,000 1,250,000
Equipment 10,000,000 12,000,000
Goodwill 1,700,000 1,700,000
Inventory 1,000,000 200,000
Land 10,000,000 10,000,000
Long-term Bond Payable 2,000,000 2,000,000
Marketable Securities 600,000 500,000
Mortgage 10,000,000 5,800,000
Prepaids 300,000 300,000
Restricted Cash 200,000 200,000
Retained Earnings 4,250,000 3,700,000
Taxes Payable 300,000 150,000
In: Accounting
When a Body Meets a Body
What a day! A traveling couple has stopped overnight at this airport hotel to break up 27 hours of travel from almost around the world. It is already late, almost 11:00 pm when they finally get to their room. What’s that noise? A party in the room across the hall. After giving the partygoers an additional hour to finish up, the distraught guest calls the desk. No answer after some 10 rings. Every 10 minutes the caller rings the desk because the party has grown louder and louder and it is now well past 1 am. No answer. No answer. No answer. More than 2 hours after arriving, the man puts on his clothing and walks down to the lobby. The lobby is pitch dark except for emergency lighting. “Wow, something has happened. Oh Gosh! There’s a body on the sofa!” The guest is startled even more when the night auditor jumps up from the sofa and his deep sleep, mumbling something about; “sorry I must have fallen asleep.”
Questions:
1. Was there a management failure here? If so, what?
2. What is the hotel’s immediate response (or action) to the incident?
3. What further, long-run action should management take? If any?
In: Operations Management
Marvel Cleaning Service, Inc. is a firm that specializes in cleaning business offices, and Marvel enjoys a monopoly position because it is the only firm allowed to provide cleaning service at the TechCenter industrial office park - the monopoly is believed to enhance security. There are 25 equal-sized offices in TechCenter, each one leased to a different company. TechCenter is closed 45 days a year (Sundays plus official federal holidays), which limits the demand for Marvel's cleaning services to a maximum of 320 cleanings per year for each one of the 25 companies leasing offices. Marvel believes it faces an identical demand by each one of the 25 businesses in TechCenter. This demand function is given as P = 80 -0.25Q. Marvel's costs are constant and equal to $30 per office cleaning. The owner of Marvel Cleaning Service is considering uniform pricing
4.1. If Marvel practices uniform pricing, it will charge ________ for an office cleaning and will face a quantity demanded from each of the 25 identical firms of __________ cleanings per year.
4.2. At TechCenter, Marvel's total profit per year is __________ (i.e., the sum of the profits from the 25 businesses in TechCenter). Each one of the businesses enjoys ____________ of consumer surplus under uniform pricing.
4.3. If Marvel Cleaning is able to practice perfect price discrimination, what is the firm’ total profit?
In: Economics
a) The City of Chicago sold bonds in the amount of $5,000,000 to finance the construction of a sports center. The bonds are serial bonds and were sold at par on July1, 2002 the first day of a fiscal year. Shortly thereafter a construction contract in the amount of $4,500,000 was assigned and the contractor commenced work. By year-end, the contractor had been paid in full for all billings to date amounting to $2,000,000. Required: Prepare in general journal form all entries that should have been made during the fiscal year ended June 30, 2003 to record the above information in the capital projects fund(including closing entries) b) Compute the legal debt margin for the City of Huston given the following information regarding its bonded debt 1) The legal debt limit is 10 percent of total assessed valuation 2) Bonds outstanding and bonds authorized are: Face Amounts Description Authorized Outstanding General obligation street construction 12,000,000 12,000,000 Special assessment sidewalk construction 2,000,000 2,000,000 General obligation park acquisition 2,000,000 0 Water Utility Fund revenue 5,000,000 5,000,000 Industrial development revenue 6,000,000 6,000,000 Note: The City has no liability for the revenue bonds or the industrial development bonds. 3) Total assessed valuation of property within the City of Huston is $200,000,000.
In: Accounting
Capital Budgeting Activity Scenario: Your client owns a successful restaurant in downtown Chicago (at least pre-Covid-19!). She wants to open a second restaurant in the suburbs and has asked you to help her choose between two locations.
Key information is listed below. Using the four capital budgeting methods that we know, prepare a presentation that shows your recommendation to your client (and why).
Initial Investment: 2,500,000 and use 9% discount rate
| FOREST PARK (10% TX RATE) | ROSEMONT (10.25% TX RATE) | |
| ANNUAL CASH FLOWS | $1,000,0000 | $1,100,000 |
| ANNUAL CASH OUTFLOWS | $400,000 | $650,000 |
| # OF YEARS EXPECTED USEFUL LIFE OF PROJECT | 25 | 30 |
Annual non-cash (all depreciation) expenses: Use straight line depreciation to find!
For both, assume no residual value and: 9% discount rate
REQUIREMENTS: Figure out which location your client should open their location at and explain how you got to each step. Additional MUST HAVES, include clearly identified calculations of the four capital budgeting methodologies (showing your work, not the work of Google or Excel programmers!) we have used in this module, and sufficient information on what these metrics mean, particularly as it relates to your preference decision.
In: Accounting
Question Identifying internal controls. Consider each situation separately. Identify the missing internal control procedure from these characteristics:
• Assignment of responsibilities
• Separation of duties
• Audits
• Electronic devices
• Other controls (specify)
a. While reviewing the records of Quality Pharmacy, you find that the same Team member orders merchandise and approves invoices for payment.
b. Business is slow at Amazing Amusement Park on Tuesday, Wednesday, and Thursday nights. To reduce expenses, the business decides not to use a ticket taker on those nights. The ticket seller (cashier) is told to keep the tickets as a record of the number sold.
c. The same trusted team member has served as a cashier for 12 years.
d. When business is brisk, Fast Mart deposits cash in the bank several times during the day. The manager at one store wants to reduce the time employees spend delivering cash to the bank, so he starts a new policy. Cash will build up over weekends, and the total will be deposited on Monday.
e. Grocery stores such as Convenience Market and Natural Foods purchase most merchandise from a few suppliers. At another grocery store, the manager decides to reduce paperwork. He eliminates the requirement that the receiving department prepare a receiving report listing the goods actually received from
the supplier.
In: Accounting
Health promotion and illness prevention is a holistic role for nurses. Typically community or public health nurses assume these roles; however, these roles are also important for nurses in acute care settings and are achieved through the promotion of health or management of illness by providing client education, often during a client's stay and at discharge.
Read the following two articles to understand the roles of both acute care and community nurses.
Original Research: Implementation of an Early Mobility Program in an ICU. http://ezproxy.rasmussen.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=rzh&AN=111298980&site=eds-live
Kulbok, P.A. Esther Thatcher, E. Eunhee Park, E., & Meszaros, P.S (2012). Evolving public health nursing roles: Focus on community participatory health promotion and prevention. http://ezproxy.rasmussen.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=76615164&site=eds-live
After reading the two articles, post the following:
What is the primary role and responsibilities of nurses in health promotion and illness prevention?
Are there any differences in the role and responsibilities if
the nurse is working in
acute care or in the community?
Are there differences in process or outcomes for health
promotion versus illness
prevention?
What do you think is needed for nurses to be successful, either with health promotion or illness prevention?
In: Nursing
Fremont has struggled over recent years to keep downtown businesses thriving. Locals report that the inability to park anywhere other than at overpriced parking meters prevents them from shopping downtown. Last week, the city of Clarion reported that adding two new parking lots and decreasing the hourly parking rate in their downtown area increased the surrounding business revenue by 7% in the past year. Fremont and Clarion are similar in terms of population and sales tax rates. The Fremont city manager’s office is looking for ways to increase downtown revenue and asks the public for suggestions.
Q1) Which of the following is a likely suggestion the city manager’s office will receive from the public?
2) Which of the following is the purpose of editorial about downtown Fremont?
A.To encourance residents to shop in downtown Fremont
B.To engage residents in the discussion about increasing business revenue
C.To prevent residents from shopping in Clarion
D.To determine how residents feel about adding more parking downtown
In: Nursing