#2A. The Concert of Europe was most successful at:
a. ending the political domination of the Holy alliance of Greece
b. thwarting Britain’s attempts to intervene and crush revolts in Italy & Spain
c. crushing the colonial revolts in Latin America
d. helping maintain peace in Europe for most of the 19th century
#2B. Short answer: Explain in your own words what you understand the Concert of Europe to be. Do you think such a situation is an oddity in history or fairly normal?
In: Psychology
The following items were selected from among the transactions completed by Pioneer Co. during the current year:
| Mar. | 1 | Purchased merchandise on account from Galston Co., $414,000, terms n/30. |
| 31 | Issued a 30-day, 4% note for $414,000 to Galston Co., on account. | |
| Apr. | 30 | Paid Galston Co. the amount owed on the note of March 31. |
| Jun. | 1 | Borrowed $180,000 from Pilati Bank, issuing a 45-day, 4% note. |
| Jul. | 1 | Purchased tools by issuing a $228,000, 60-day note to Zegna Co., which discounted the note at the rate of 6%. |
| 16 | Paid Pilati Bank the interest due on the note of June 1 and renewed the loan by issuing a new 30-day, 6.5% note for $180,000. (Journalize both the debit and credit to the notes payable account.) | |
| Aug. | 15 | Paid Pilati Bank the amount due on the note of July 16. |
| 30 | Paid Zegna Co. the amount due on the note of July 1. | |
| Dec. | 1 | Purchased office equipment from Taylor Co. for $520,000, paying $90,000 and issuing a series of ten 4% notes for $43,000 each, coming due at 30-day intervals. |
| 22 | Settled a product liability lawsuit with a customer for $315,000, payable in January. Pioneer accrued the loss in a litigation claims payable account. | |
| 31 | Paid the amount due Taylor Co. on the first note in the series issued on December 1. |
| Required: | |||||
| 1. | Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Round your answers to the nearest dollar. | ||||
| 2. | Journalize the adjusting entry
for each of the following accrued expenses at the end of the
current year (refer to the Chart of Accounts for exact wording of
account titles):
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Chart of Accounts
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| General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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In: Accounting
The following items were selected from among the transactions completed by Sherwood Co. during the current year:
| Mar. | 1 | Purchased merchandise on account from Kirkwood Co., $372,000, terms n/30. |
| 31 | Issued a 30-day, 4% note for $372,000 to Kirkwood Co., on account. | |
| Apr. | 30 | Paid Kirkwood Co. the amount owed on the note of March 31. |
| Jun. | 1 | Borrowed $150,000 from Triple Creek Bank, issuing a 45-day, 8% note. |
| Jul. | 1 | Purchased tools by issuing a $276,000, 60-day note to Poulin Co., which discounted the note at the rate of 6%. |
| 16 | Paid Triple Creek Bank the interest due on the note of June 1 and renewed the loan by issuing a new 30-day, 6.5% note for $150,000. (Journalize both the debit and credit to the notes payable account.) | |
| Aug. | 15 | Paid Triple Creek Bank the amount due on the note of July 16. |
| 30 | Paid Poulin Co. the amount due on the note of July 1. | |
| Dec. | 1 | Purchased equipment from Greenwood Co. for $540,000, paying $108,000 cash and issuing a series of ten 4% notes for $43,200 each, coming due at 30-day intervals. |
| 22 | Settled a product liability lawsuit with a customer for $309,500, payable in January. Accrued the loss in a litigation claims payable account. | |
| 31 | Paid the amount due to Greenwood Co. on the first note in the series issued on December 1. |
| Required: | |||||
| 1. | Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Round your answers to the nearest dollar. | ||||
| 2. | Journalize the adjusting entry for each of the following
accrued expenses at the end of the current year (refer to the Chart
of Accounts for exact wording of account titles):
|
Chart of Accounts
| CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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In: Accounting
In Chapter 5, the book touches on Diffusion of Innovation on page 152 but I wanted to provide you with a little more detail on the topic. It's really important when you think about change- this could be the kind of change that comes when you develop a new product, modify an existing one, or make any kind of organizational change. It's all about how to people adopt (or accept) innovation.
The process by which the use of an innovation- whether a product, a service, or a process- spreads throughout a market group, over time and across various categories of adopters is diffusion of innovation. The theory around diffusion of innovation helps marketers understand the rate at which consumers are likely to adopt a new product or service. It also helps them to identify potential markets and predict sales for their new products.
In the diffusion of innovation theory, five adopter groups have been identified: innovators, early adopters, early mainstream, late mainstream, and laggards (or lagging adopters). I've attached a visual representation of the diffusion of innovation- you will notice it makes a bell curve.
Innovators- are buyers who want to be the first to have a new product or service. They enjoy taking risks and are regarded as highly knowledgable. They are generally very well informed about a certain product category. While they represent only 2.5% of the total market for a new product, they are crucial to the success of any new product because they usually talk a lot about the products and review them vocally.
Example: Think of a person who drives a self-driving car prototype as an innovator OR think of Steve Jobs and the folks at Apple as they created iPhones/iPads, etc.
Early Adopters- This group consists of about 13.5% of all buyers. They generally don’t take as much risk as innovators (they wait to see what innovators say about a product) but they are regarded as opinion leaders for particular product categories as the other three buyer categories often rely on their feedback.
Example: When the iPhone was first released, the very first buyers would be early adopters.
Early majority- this group represents about 34% of all buyers. This group is crucial because a product usually doesn’t become profitable until this large group purchases it. If this group never becomes large enough, the product or service can fail. The early majority doesn’t take as many risks and tends to wait until the bugs are worked out of a particular product or service.
Example: When the bugs were worked out on the iPhones, this group bought. They waited until the product was purchased and reviewed by the early adopters.
Late majority- this group also represents about 34% of all buyers. This is the last group of buyers to enter a new product market. When they do, the product has achieved its full market potential. By the time this group enters the market, sales tend to level off or may be in decline.
Example: After several versions of the iPhone were released, they finally decided to ditch their Blackberry and purchase.
Laggards- this group represents about 16% of the market. These consumers like to avoid change and rely on traditional products until they are no longer available.
Example: Laggards STILL use flip phones. They will probably use flip phones until they are no longer manufactured. They resist change at all costs.
I use the example of phones but it's important to keep in mind that the Diffusion of Innovation can apply to just about anything. It's also important to remember that people are not set in their adopter group for every product- it can vary. For example, my stepdad would be a laggard when it comes to phones (he still uses a flip phone). However, he might be considered an early adopter or early mainstream when it comes to golf clubs. He's much more likely to purchase a newer model of golf club than a new phone. So....don't think of people as being stuck in their adopter group, it can certainly vary based on the product/service/process.
What affects the rate of adoption?
Some of the things that affect the rate include:
Relative advantage- this is the degree to which the innovation appears superior to existing products. Example: Electric cars were adopted quickly because of their advantage over gas powered cars.
Compatibility- The degree to which the innovation fits the values and experiences of potential customers. Example: Electric cars are driven the same way as gas powered cars so they fit the experiences of drivers.
Complexity- The degree to which the innovation is difficult to understand or use. Example: This is where self-driving cars may struggle because it's hard to understand how that could be safe.
Divisibility- The degree to which the innovation may be tried on a limited basis. Example: consumers can test-drive electric or self-driving cars which helps increase the adoption rate.
Communicability- The degree to which the results of using the innovation can be observed or described to others. Example: If you can easily describe or demonstrate how to use a self-driving car and how the technology works, you will increased adoption.
Discussion Board Assignment Instructions:
1. Identify a product or service you use where you may be considered an early adopter. Explain.
2. Identify a product or service you use where you may be considered early mainstream or late mainstream. Explain.
3. Identify a product or service you use where you may be considered a laggard. Explain. (We are all laggards in some area. Confession- I still love have the old school Uggs but I don't wear them in public anymore).
In: Operations Management
CO(g)+H2O(g)⇌CO2(g)+H2(g)
Kp=0.0611 at 2000 K
A reaction mixture initially contains a CO partial pressure of 1360
torr and a H2O partial pressure of 1768 torr at 2000
K.
Part A
Calculate the equilibrium partial pressure of CO2 and H2
? torr
In: Chemistry
Hops Co. purchased a copyright from Wall Co. for $40,000 on July 1, 2017. Expenditures of $17,000 for unsuccessful litigation in defense of the copyright were paid on July 1, 2020. Hops estimated that the useful life of the copyright will be 20 years from the date of acquisition.
What is the 2020 amortization expense?
In: Accounting
Consider the reaction CO(g)+NH3(g)⇌HCONH2(g), K=2.70 at 550 K If a reaction vessel initially contains only CO and NH3 at partial pressures of 3.00 bar and 3.00 bar, respectively, what will the partial pressure of HCONH2 be at equilibrium? Express your answer with the appropriate units.
In: Chemistry
CH3OH can be synthesized by the following reaction.
CO(g)+2H2(g)→CH3OH(g)
What volume of H2 gas (in L), measured at 746 mmHg and 84 ∘C, is required to synthesize 23.4 g CH3OH?
How many liters of CO gas, measured under the same conditions, is required?
In: Chemistry
Consider the following reaction:
CO(g)+H2O(g)⇌CO2(g)+H2(g)
Kp=0.0611 at 2000 K
A reaction mixture initially contains a CO partial pressure of 1390 torr and a H2O partial pressure of 1710 torr at 2000 K.
Calculate the equilibrium partial pressure of CO2.
In: Chemistry
The system described by the reaction
CO(g)+Cl2(g)⇌COCl2(g)
is at equilibrium at a given temperature when PCO= 0.29
atm , PCl2= 0.12 atm , and PCOCl2= 0.62 atm . An
additional pressure of Cl2(g)= 0.38 atm is added.
Find the pressure of CO when the system returns to equilibrium
In: Chemistry