Q1. Headquartered in Plainfield, Indiana is the Chimney Safety Institute of America which, among other things, certifies Chimney Sweeps. There are three steps to becoming certified: purchase (and study) $515 of books, attend an in-person or online review or six-day training school (each of which is several hundred to over a thousand dollars), and pass an exam (again, a few hundred dollars). After this, there is an annual $229 certification fee. The website says that being certified proves “you’re one of the best,” and that certification “is the measure of a chimney sweep’s knowledge about the evaluation and maintenance of chimney and venting systems.” Presumably, the CSIA would argue that its certification protects consumers; given the information presented this week, aside from ensuring high quality chimney sweeps, why else might existing chimney sweeps find it in their interest to protect the certification system? Select one:
a. The certification system encourages the entry of chimney sweeps into the industry since it weeds out sellers who are only interested in making a quick profit. The stature of having a certification is attractive to potential entrepreneurs, and the supply of chimney sweep services (and the labor supply of chimney sweeps) is increased by having the certification system.
b. Currently-certified chimney sweeps have unique knowledge to accurately judge the subtle characteristics of chimney design that most consumers would never notice, but that still affect the longevity of their chimneys. Without the certification system, consumers would consistently be ripped off by chimney sweeps without this knowledge.
c. The certification system is effectively a barrier to entry which hinders new chimney sweeps from competing with established chimney sweeps; the supply of chimney sweep labor and chimney sweep services is thereby decreased, and prices and profit are higher than would exist in a more open, competitive market.
d. Most certification is done for occupations that sell physical goods, not services like chimney sweeping. The entry-barrier problem with occupational licensing only applies to sellers of physical goods, not services, so certified chimney sweeps support the certification system since it encourages competitiveness in their industry, which benefits them and consumers alike.
Q2. What side effects might the (one-time and annual) fees, training, and exam introduce into the chimney sweep market?
Select one:
a. The fees, training, and exam are more likely to exclude low-income entrepreneurs from earning income by being a chimney sweep. It may (slightly) exacerbate income inequality since only higher-income individuals would consider the fees, training, and exam to be affordable, who thereafter would be able to earn income as a chimney sweep.
b. The low fee helps to ensure that uncertified chimney sweeps will not enter the market and attempt to sell high-priced chimney sweep services to compete with the lower-priced products of certified chimney sweeps. The fees, training, and exam help to prevent new entrants from exercising too much market power.
c. The fee and exam are going to encourage only serious entrepreneurs to become chimney sweeps. Those who do not really want to become chimney sweeps will be dissuaded by the requirements, thus ultimately improving the quality and lowering the price of chimney sweep services for consumers.
d. Being known as a certified chimney sweep, who passed an exam, will improve the reputation of certified chimney sweeps. The fee payments, however, do nothing to affect the chimney sweep's reputation. Since both the exam, training, and fees are mandatory, it is unclear whether the requirements will improve the quality and lower the price of chimney sweep services in Louisiana.
Q3. You may be familiar with stories (even from your own experience) of employees who choose to denigrate or subtly sabotage their fellow employees rather than focusing on how they themselves can be better or more productive. Often, a company may notice not that a single employee behaves this way, but that many, most, or all of them do. It seems obvious that spending time and energy figuring out how to make other employees appear worse, instead of spending that time and energy to make yourself better, is harmful to the company, but the behavior continues to be seen among large groups of workers. How might game theory offer an explanation for this behavior?
Select one:
a. The behavior is a result of a prisoners' dilemma. An employee finds that his own position is improved if a fellow employee appears worse, regardless of whether the fellow employee engages in that sabotaging behavior or not. While it is best for everyone (and the company) overall to not have any of that behavior occur, the result is that it will happen frequently because it is in each employee's individual best interest to sabotage.
b. An employee will engage in sabotaging behavior because doing so is a one-shot game. The employee knows that it will only take a single instance of a fellow employee appearing to be negligent to get that fellow employee fired, so the sabotaging employee will remain hired but with fewer fellow employees with which to compete.
c. The sabotaging behavior is a dominated strategy that always harms the company and the employees. Since it continues to occur, though, then employees have failed to eliminate it as a strategy, and since it hasn't been eliminated, it becomes the most likely outcome.
d. The sabotaging behavior is the result of a sequential game, where the employees attempt to be the "first mover" and be the first to sabotage their fellow employees. If a fellow employee is the first one to appear worse to the managers (and I am thus the first one to appear better to the managers), then if I am a later victim of sabotage by my fellow employee, the manager won't think as badly of me since it happened later in time.
In: Economics
PLEASE ANSWER ASAP
QUESTION 30
In America, a company can always refuse to hire a candidate solely because of a criminal history.
True
False
QUESTION 31
A “fitness for duty” test is not a medical exam.
True
False
QUESTION 33
The cost of recruiting, selecting, and training a new employee is usually more than 100% of that employee's annual salary.
True
False
QUESTION 34
The recruiter is one of the primary factors responsible for an applicant showing interest in an organization and its jobs.
True
False
QUESTION 35
One out of every six people in the United States would not be able to be reached via Internet recruitment.
True
False
QUESTION 36
Usually, all recruiting evaluation methods are comparisons to historical averages.
True
False
QUESTION 37
Walk-ins usually have a good basic skill set.
True
False
QUESTION 38
If you expand your labor market regionally, nationally, or globally, you may find better talent, and different types of talent.
True
False
QUESTION 39
Outsourcing is the only alternative to recruitment.
True
False
QUESTION 40
We have to abide by all of the EEO laws currently in existence, when recruiting for our organization.
True
False
QUESTION 41
We should always consider a viable and financially feasible way to solve internal labor shortages, including recruiting new employees, overtime, and outsourcing.
True
False
QUESTION 42
One of the strengths of public agencies is that they heavily prescreen recruits.
True
False
In: Operations Management
Headquartered in Plainfield, Indiana is the Chimney Safety Institute of America which, among other things, certifies Chimney Sweeps. There are three steps to becoming certified: purchase (and study) $515 of books, attend an in-person or online review or six-day training school (each of which is several hundred to over a thousand dollars), and pass an exam (again, a few hundred dollars). After this, there is an annual $229 certification fee. The website says that being certified proves “you’re one of the best,” and that certification “is the measure of a chimney sweep’s knowledge about the evaluation and maintenance of chimney and venting systems.” Presumably, the CSIA would argue that its certification protects consumers; given the information presented this week, aside from ensuring high quality chimney sweeps, why else might existing chimney sweeps find it in their interest to protect the certification system? What side effects might the (one-time and annual) fees, training, and exam introduce into the chimney sweep market?
In: Economics
I Need to get this answer Rewritten. Thank you
Adidas America Inc
Adidas is a German multinational corporation that was found in 1948c by Adolf Dassler. He became famous for designing clothing and accessories that was specific to sporting and athletes. Footwear, bags, watches, and eyewear were also manufactured by Adidas in their early stages. Adolf settled on naming his business Adidas since it is a combination of "Adi an Das" which is known to be the initials of Adolf’s name. For over 94 years Adidas has been the biggest sportswear manufacturer in Germany and Europe.
According to Adidas vision, the company is focusing on creating new innovations in sports while holding the highest corporate standards possible. They have three basic sources of strategies according to their vision statement, to help athletes of all skill level reach peak performance, remain consumer focused, and continue to be socially and environmentally responsible. They are consistently improving the approach towards creating innovation in their specific industry and maintaining benefits simultaneously. Adidas's are constantly striving to become and remain the global leader in sporting goods. The company is directly focusing on providing high quality products to customers by committing to strengthening their brand quality as well as their position against competitors. Adidas consumer focused attitude allow them to continuously understand the design of the products according to the changing trends as well as customer preference. By looking at the customer's demand, the company is able to satisfy their needs. Increasing the overall level of profit gained from the specific endeavor.
By focusing on this specific outline and implementing their strong strategies globally, the company is generating better revenues and improving their position financially.
Adidas sells sports apparel and have a major influence over the shoe industry. They are very well known for creating qualitative products while the availability of market opportunities are also incrementing. This type of approach provides adequate understanding of the market situation forcAdidas as well as improving its functionalities in their operating markets. Due to unavailability of innovative design as well as less effective implementation in changing trends in their operation structure, this reduces their overall availability to influence the customer, but the product line is offered in a very fast way, as they deal with clothing as well as other sports apparel. Adidas produces a wide range of products which are mostly targeted by middle and high class customers. This enables Adidas to maintain a better quality of standard in operation and manufacturing. Adidas has also started focusing on developing markets where their availability of business operations is extremely large. Adidas also focuses on influencing the base customers by acretaining them since the brand can offer all of their sporting needs. This also provides extensive availability of opportunities to Adidas, operating in the sports industry directly aligns with the standards of the marketing opportunity as well as in a certain region.
The prime competitor that Adidas is faced with day in and day out is Nike. Nike has extremely wide operating the systems and continues to influence different cultures around the world, in developing as well as developed countries. This is the only large competitor which is capable of conquering or affecting the overall sales generated by Adidas in their respective markets. Other competitors who specialize in the sports based industry are, Under Armor, Puma, and Reebok. which are all influencing the overall marketing capabilities of Adidas.
Adidas has been very successful in influencing the consumer as their consistent approach of learning from the changing market trends. As well as listening to the customer voice has provide them competitive advantage over other companies. They are the biggest retailing company with sportswear and sports apparel in Europe. That directly provides an idea of the level of influence by using correct strategies and technologies to influence the customers. As well as to meet the buying demands. Adidas is entering developing countries with totally new reform of low cost products. This type of availability would provide an extensive edge to Adidas over its competitors by becoming the first company to implement search a specific strategy in international operations by a very huge investment. Investing in developing countries would also enable Adidas to maintain and create a Monopoly in the specific market segment.
In: Operations Management
1. (complete chart) Bank of America sells a 12 year fixed rate bond at 6%. At the same time of the issue the company buys a receiver swaption, 6% and paying variable rate based on LIBOR with 5 years remaining to expiration, 2.5% premium. Fill in the table below assuming the exercise of the swaption - complete bond
2. Explain the net effect to BOA
3. Explain the net effect to bondholders
please write legible
| Year | LIBOR at Year end | BOA pays to bond holders | BOA pays to swaption | BOA receives from swaption | Net Cost to BOA |
| 1 | 10% | ||||
| 2 | 12% | ||||
| 3 | 9% | ||||
| 4 | 8% | ||||
| 5 | 11% | ||||
| 6 | 7% | ||||
| 7 | 5% | ||||
| 8 | 4% | ||||
| 9 | 6% | ||||
| 10 | 2% | ||||
| 11 | 4% | ||||
| 12 | 7% |
In: Finance
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., $402,000, terms n/30. |
| 31 | Issued a 30-day, 4% note for $402,000 to Kirkwood Co., on account. | |
| Apr. | 30 | Paid Kirkwood Co. the amount owed on the note of March 31. |
| Jun. | 1 | Borrowed $186,000 from Triple Creek Bank, issuing a 45-day, 4% note. |
| Jul. | 1 | Purchased tools by issuing a $246,000, 60-day note to Poulin Co., which discounted the note at the rate of 5%. |
| 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 $186,000. (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 $440,000, paying $120,000 cash and issuing a series of ten 8% notes for $32,000 each, coming due at 30-day intervals. |
| 22 | Settled a product liability lawsuit with a customer for $319,500, 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 Sherwood Co. General Ledger ASSETS 110 Cash 111 Accounts Receivable 112 Interest Receivable 113 Notes Receivable 115 Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation-Building 125 Office Equipment 126 Accumulated Depreciation-Office Equipment 127 Tools 128 Accumulated Depreciation-Tools LIABILITIES 210 Accounts Payable-Kirkwood Co. 211 Accounts Payable-Greenwood Co. 212 Accounts Payable-Poulin Co. 213 Interest Payable 214 Notes Payable 215 Salaries Payable 216 Social Security Tax Payable 217 Medicare Tax Payable 218 Employees Federal Income Tax Payable 219 Employees State Income Tax Payable 220 Group Insurance Payable 221 Bond Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable 226 Vacation Pay Payable 227 Unfunded Pension Liability 228 Product Warranty Payable 229 Litigation Claims Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Salaries Expense 524 Depreciation Expense-Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Depreciation Expense-Tools 534 Insurance Expense 535 Supplies Expense 536 Payroll Tax Expense 537 Vacation Pay Expense 538 Pension Expense 539 Cash Short and Over 540 Product Warranty Expense 541 Miscellaneous Expense 710 Interest Expense 720 Litigation Loss 1. Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Scroll down to access page 12 of the journal. Round your answers to the nearest dollar.
|
In: Accounting
Part 1 and Part 2:
Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. as of May 1, 20Y7 (unless otherwise indicated), are as follows:
| 110 | Cash | $83,600 |
| 112 | Accounts Receivable | 233,900 |
| 115 | Merchandise Inventory | 652,400 |
| 117 | Prepaid Insurance | 16,800 |
| 118 | Store Supplies | 11,400 |
| 123 | Store Equipment | 569,500 |
| 124 | Accumulated Depreciation—Store Equipment | 56,700 |
| 210 | Accounts Payable | 96,600 |
| 211 | Customer Refunds Payable | 50,000 |
| 212 | Salaries Payable | — |
| 310 | Lynn Tolley, Capital, June 1, 20Y6 | 685,300 |
| 311 | Lynn Tolley, Drawing | 135,000 |
| 410 | Sales | 5,069,000 |
| 510 | Cost of Merchandise Sold | 2,823,000 |
| 520 | Sales Salaries Expense | 664,800 |
| 521 | Advertising Expense | 281,000 |
| 522 | Depreciation Expense | — |
| 523 | Store Supplies Expense | — |
| 529 | Miscellaneous Selling Expense | 12,600 |
| 530 | Office Salaries Expense | 382,100 |
| 531 | Rent Expense | 83,700 |
| 532 | Insurance Expense | — |
| 539 | Miscellaneous Administrative Expense | 7,800 |
Part 1: Using the attached spreadsheet, journalize the transactions for May, the last month of the fiscal year, below.
Part 2: Post the journal to the general ledger you created in Part 1, extending the month-end balances to the appropriate balance columns after all posting is completed. In this problem, you are not required to update or post to the accounts receivable and accounts payable subsidiary ledgers.
May 1: Paid rent for May, $5,000.
May 3: Purchased merchandise on account from
Martin Co., terms 2/10, n/30, FOB shipping point, $36,000.
May 4: Paid freight on purchase of May 3,
$600.
May 6: Sold merchandise on account to Korman Co.,
terms 2/10, n/30, FOB shipping point, $68,500. The cost of the
merchandise sold was $41,000.
May 7: Received $22,300 cash from Halstad Co. on
account.
May 10: Sold merchandise for cash, $54,000. The
cost of the merchandise sold was $32,000.
May 13: Paid for merchandise purchased on May
3.
May 15: Paid advertising expense for last half of
May, $11,000.
May 16: Received cash from sale of May 6.
May 19: Purchased merchandise for cash,
$18,700.
May 19: Paid $33,450 to Buttons Co. on account.
May 20: Paid Korman Co. a cash refund of $5,000 for damaged merchandise from sale of May 6. Korman Co. kept the merchandise.
May 20: Sold merchandise on account to Crescent Co., terms 1/10, n/30, FOB shipping point, $110,000. The cost of the merchandise sold was $70,000.
May 21: For the convenience of Crescent Co., paid freight on sale of May 20, $2,300.
May 21: Received $42,900 cash from Gee Co. on account.
May 21: Purchased merchandise on account from Osterman Co., terms 1/10, n/30, FOB destination, $88,000.
May 24: Returned damaged merchandise purchased on May 21, receiving a credit memo from the seller for $5,000.
May 26: Refunded cash on sales made for cash, $800. The defective merchandise was not returned by the customer.
May 28: Paid sales salaries of $56,000 and office salaries of $29,000.
May 29: Purchased store supplies for cash, $2,400.
May 30: Sold merchandise on account to Turner Co., terms 2/10, n/30, FOB shipping point, $78,750. The cost of the merchandise sold was $47,000.
May 30: Received cash from sale of May 20 plus freight paid on May 21.
May 31: Paid for purchase of May 21, less return of May 24.
Part 3:
Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank.
| Palisade Creek Co. Unadjusted Trial Balance May 31, 20Y7 |
||
|---|---|---|
| Debit Balances | Credit Balances | |
| Cash | ||
| Accounts Receivable | ||
| Merchandise Inventory | ||
| Prepaid Insurance | ||
| Store Supplies | ||
| Store Equipment | ||
| Accumulated Depreciation—Store Equipment | ||
| Accounts Payable | ||
| Customer Refunds Payable | ||
| Salaries Payable | ||
| Lynn Tolley, Capital | ||
| Lynn Tolley, Drawing | ||
| Sales | ||
| Cost of Merchandise Sold | ||
| Sales Salaries Expense | ||
| Advertising Expense | ||
| Depreciation Expense | ||
| Store Supplies Expense | ||
| Miscellaneous Selling Expense | ||
| Office Salaries Expense | ||
| Rent Expense | ||
| Insurance Expense | ||
| Miscellaneous Administrative Expense | ||
total _____________ ______________
In: Accounting
The following selected transactions are from Ohlm Company.
(Use 360 days a year.)
2016
| Dec. | 16 | Accepted a $10,800, 60-day, 8% note dated this day in granting Danny Todd a time extension on his past-due account receivable. | ||
| 31 | Made an adjusting entry to record the accrued interest on the Todd note. |
2017
| Feb. | 14 | Received Todd’s payment of principal and interest on the note dated December 16. | ||
| Mar. | 2 | Accepted a $6,100, 8%, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight Co. | ||
| 17 | Accepted a $2,400, 30-day, 7% note dated this day in granting Ava Privet a time extension on her past-due account receivable. | |||
| Apr. | 16 | Privet dishonored her note when presented for payment. | ||
| May | 31 | Midnight Co. refused to pay the note that was due to Ohlm Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co.’s accounts receivable. | ||
| July | 16 | Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 8%. | ||
| Aug. | 7 | Accepted a $7,450, 90-day, 10% note dated this day in granting a time extension on the past-due account receivable of Mulan Co. | ||
| Sep. | 3 | Accepted a $2,100, 60-day, 10% note dated this day in granting Noah Carson a time extension on his past-due account receivable. | ||
| Nov. | 2 | Received payment of principal plus interest from Carson for the September 3 note. | ||
| Nov. | 5 | Received payment of principal plus interest from Mulan for the August 7 note. | ||
| Dec. | 1 | Wrote off the Privet account against the Allowance for Doubtful Accounts. |
Required:
1-a. First, complete the table below to calculate
the interest amount at December 31, 2016.
1-b. Use the calculated value to prepare your
journal entries for 2016 transactions.
1-c. First, complete the table below to calculate
the interest amounts.
1-d. Use those calculated values to prepare your
journal entries for 2017 transactions.
1-a. First, complete the table below to calculate the interest amount at December 31, 2016.
|
1-b. Accepted a $10,800, 60-day, 8% note dated this day in granting Danny Todd a time extension on his past-due account receivable.
|
Made an adjusting entry to record the accrued interest on the Todd note.
|
1-c.
|
|||||||||||||||||||||||||||||||||||||
1-d. Journal entries for the following:
-Received Todd’s payment of principal and interest on the note dated December 16
-Accepted a $6,100, 8%, 90-day note dated this day in granting a time extension on the past-due account receivable from Midnight Co.
-Accepted a $2,400, 30-day, 7% note dated this day in granting Ava Privet a time extension on her past-due account receivable.
-Privet dishonored her note when presented for payment.
-Midnight Co. refused to pay the note that was due to Ohlm Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Midnight Co.’s accounts receivable.
-Received payment from Midnight Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 8%.
-Accepted a $7,450, 90-day, 10% note dated this day in granting a time extension on the past-due account receivable of Mulan Co.
-Accepted a $2,100, 60-day, 10% note dated this day in granting Noah Carson a time extension on his past-due account receivable.
-Received payment of principal plus interest from Carson for the September 3 note.
-Received payment of principal plus interest from Mulan for the August 7 note.
-Wrote off the Privet account against Allowance for Doubtful Accounts.
In: Accounting
Seth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the company's geologist, has just finished his analysis of the mine site. He has estimated that the mine would be productive for eight years, after which the gold would be completely mined. Dan has taken an estimate of the gold deposits to Alma Garrett, the company's financial officer.
Alma has been asked by Seth to perform an analysis of the new mine and present her recommendation on whether the company should open the new mine Alma has used the estimates provided by Dan to determine the revenues that could be expected from the mine. She has also projected the expense of opening the mine and the annual operating expenses. If the company opens the mine, it will cost $850 million today, and it will have a cash outflow of $75 million nine years from today in costs associated with closing the mine and reclaiming the area surrounding it. The expected cash flows each year from the mine are shown in the following table. Bullock Mining has a 12 percent required return on all of its gold mines.
| Year | Cash Flow |
|---|---|
| 0 | -$850,000,000 |
| 1 | 170,000,000 |
| 2 | 190,000,000 |
| 3 | 205,000,000 |
| 4 | 265,000,000 |
| 5 | 235,000,000 |
| 6 | 170,000,000 |
| 7 | 160,000,000 |
| 8 | 105,000,000 |
| 9 | -75,000,000 |
1. Construct a spreadsheet to calculate the payback period, internal rate of return, modified internal rate of return, and net present value of the proposed mine
2. Based on your analysis should the company open the mine? Explain in detail the different measures which you have calculated for this case. Specifically, provide an explanation of payback period, IRR, MIRR and NPV. Also, explain how business' use these for decisions and the potential advantages/disadvantages of each.
In: Finance
enny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $8.1 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent facilities elsewhere. The land would net $10.9 million if it were sold today. The company now wants to build its new manufacturing plant on this land; the plant will cost $22.1 million to build, and the site requires $960,000 worth of grading before it is suitable for construction.
What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to the nearest whole number, e.g., 1,234,567.)
In: Finance