Give a brief description of yourself. Also I have ten interview questions i need answered for a sociology paper.
What do you do for a living?
What made you want to work in this field?
How would you describe your social class?
Where were you born/what is your neighborhood like?
Do you think it’s easier for one to come from a higher class or for one to move up to a higher class?
What is your heritage?
Do you think your social class defines who you are?
Is gender equality a concern for you?
In your country, how do the roles of men and women differ in the family?
Why do women usually live five years longer than men?
In: Psychology
Janelle is interviewing for a low-level management job, which will require her to supervise a small team of employees. One of the forms Janelle must complete as part of the interview process is a leadership style questionnaire. Janelle wonders what insight her potential employers hope to gain from the results, what insight the results will provide her personally, and how this information will impact her career. Post your evaluation of leadership style assessments, such as the one you just completed, and the leadership style approach. Explain whether you think such assessments and a leadership style approach are useful for providing insight into leadership behavior for global change agents. Explain the potential impact of the use of such assessments for both individual employees and organizations. Also, explain the potential impact of the style approach to leadership for individual change agents and organizations.
In: Operations Management
Metlock Company reports pretax financial income of $65,000 for 2020. The following items cause taxable income to be different than pretax financial income.
| 1. | Depreciation on the tax return is greater than depreciation on the income statement by $16,400. | |
| 2. | Rent collected on the tax return is greater than rent recognized on the income statement by $23,100. | |
| 3. | Fines for pollution appear as an expense of $11,200 on the income statement. |
Metlock’s tax rate is 30% for all years, and the company expects to
report taxable income in all future years. There are no deferred
taxes at the beginning of 2020.
Compute taxable income and income taxes payable for 2020.
|
Taxable income |
$enter a dollar amount |
|
|---|---|---|
|
Income taxes payable |
$enter a dollar amount |
eTextbook and Media
List of Accounts
Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
|
Account Titles and Explanation |
Debit |
Credit |
|---|---|---|
|
enter an account title |
enter a debit amount |
enter a credit amount |
|
enter an account title |
enter a debit amount |
enter a credit amount |
|
enter an account title |
enter a debit amount |
enter a credit amount |
|
enter an account title |
enter a debit amount |
enter a credit amount |
eTextbook and Media
List of Accounts
Prepare the income tax expense section of the income statement for 2020, beginning with the line “Income before income taxes.” (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
|
Metlock Company |
||
|---|---|---|
|
select an income statement item CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
$enter a dollar amount |
|
|
select an opening section name CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
||
|
select an income statement item CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
$enter a dollar amount |
|
|
select an income statement item CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
enter a dollar amount |
|
|
enter a subtotal of the two previous amounts |
||
|
select a closing name for this statement CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
$enter a total net income or loss amount |
|
eTextbook and Media
List of Accounts
Compute the effective income tax rate for 2020. (Round answer to 1 decimal places, e.g. 25.5%.)
| Effective income tax rate |
enter the Effective income tax rate in percentages rounded to 1 decimal place |
% |
In: Accounting
Whispering Company reports pretax financial income of $66,100 for 2020. The following items cause taxable income to be different than pretax financial income.
| 1. | Depreciation on the tax return is greater than depreciation on the income statement by $14,800. | |
| 2. | Rent collected on the tax return is greater than rent recognized on the income statement by $23,900. | |
| 3. | Fines for pollution appear as an expense of $10,600 on the income statement. |
Whispering’s tax rate is 30% for all years, and the company expects
to report taxable income in all future years. There are no deferred
taxes at the beginning of 2020.Compute taxable income and income
taxes payable for 2020.
|
Taxable income |
$enter a dollar amount |
|
|---|---|---|
|
Income taxes payable |
$enter a dollar amount |
Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
|
Account Titles and Explanation |
Debit |
Credit |
|---|---|---|
|
enter an account title |
enter a debit amount |
enter a credit amount |
|
enter an account title |
enter a debit amount |
enter a credit amount |
|
enter an account title |
enter a debit amount |
enter a credit amount |
|
enter an account title |
enter a debit amount |
enter a credit amount |
Prepare the income tax expense section of the income statement for 2020, beginning with the line “Income before income taxes.” (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
|
Whispering Company |
||
|---|---|---|
|
select an income statement item CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
$enter a dollar amount |
|
|
select an opening section name CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
||
|
select an income statement item CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
$enter a dollar amount |
|
|
select an income statement item CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
enter a dollar amount |
|
|
enter a subtotal of the two previous amounts |
||
|
select a closing name for this statement CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
$enter a total net income or loss amount |
|
Compute the effective income tax rate for 2020. (Round answer to 1 decimal places, e.g. 25.5%.)
| Effective income tax rate |
enter the Effective income tax rate in percentages rounded to 1 decimal place |
% |
In: Accounting
6) Salmone Company reported the following purchases and sales of
its only product. Salmone uses a perpetual inventory
system. Determine the cost assigned to the ending inventory using
FIFO.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| May 1 | Beginning Inventory | 190 units @ $14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5 | Purchase | 240 units @ $16 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 10 | Sales | 160 units @ $24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 15 | Purchase | 120 units @ $17 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 24 | Sales | 110 units @ $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
7)Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO.
|
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In: Accounting
Problem 6-2AA Periodic: Alternative cost flows LO P3
[The following information applies to the questions displayed below.]
Warnerwoods Company uses a periodic inventory system. It entered
into the following purchases and sales transactions for
March.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail | |||||||||
| Mar. | 1 | Beginning inventory | 125 | units | @ $60 per unit | |||||||
| Mar. | 5 | Purchase | 425 | units | @ $65 per unit | |||||||
| Mar. | 9 | Sales | 445 | units | @ $95 per unit | |||||||
| Mar. | 18 | Purchase | 170 | units | @ $70 per unit | |||||||
| Mar. | 25 | Purchase | 250 | units | @ $72 per unit | |||||||
| Mar. | 29 | Sales | 210 | units | @ $105 per unit | |||||||
| Totals | 970 | units | 655 | units | ||||||||
For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 365 units from the March 5 purchase; the March 29 sale consisted of 65 units from the March 18 purchase and 145 units from the March 25 purchase.
Problem 6-2AA Part 3
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round your average cost per unit to 2 decimal places.)
4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.)
In: Accounting
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail | |||||||||
| Mar. | 1 | Beginning inventory | 150 | units | @ $40 per unit | |||||||
| Mar. | 5 | Purchase | 450 | units | @ $45 per unit | |||||||
| Mar. | 9 | Sales | 470 | units | @ $75 per unit | |||||||
| Mar. | 18 | Purchase | 220 | units | @ $50 per unit | |||||||
| Mar. | 25 | Purchase | 300 | units | @ $52 per unit | |||||||
| Mar. | 29 | Sales | 260 | units | @ $85 per unit | |||||||
| Totals | 1,120 | units | 730 | units | ||||||||
For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 430 units from the March 5 purchase; the March 29 sale consisted of 90 units from the March 18 purchase and 170 units from the March 25 purchase.
Required.
1. Compute cost of goods available for sale and
the number of units available for sale.
2. Compute the number of units in ending
inventory.
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Round your average cost per unit to 2 decimal places.)
4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.)
In: Accounting
Lehman company, a firm that has either failed or came close to collapsing during the Financial Crisis of 2007-2009,
In: Finance
Ethical Decision Making at Black Diamond
Task: Read the “Black Diamond Equipment” case below and then answer the following questions.
>> The way that Black Diamond is run, I don't really consider this the American way, I consider Black Diamond an extension of the attitude, the culture, the ethos, and the values of the life defining mountain sports that we were founded to serve. Hi, my name is Peter Metcalf. I'm the CEO and lead founder of Black Diamond. Very early on in the beginning of the company the sports of climbing, mountaineering, alpinism and alpine skiing were relatively small at that time. They've grown dramatically. However, if you aggregated the global demand for that product then you could have a fairly meaningful business. So from that recognition and understanding the amount of money that goes into research and development, commercializing a product, and recognize it to be competitive, to do what we really wanted to do we had to think globally. It was going to be about finding these global markets through finding other people who shared our passion, who were young embryonic business people in many cases who wanted to get into the business because they shared that passion, they knew the markets, they knew the space, and could develop a business as a distributor for us. And as time went on we did begin to recognize that nobody really cares about Black Diamond as much as Black Diamond people do, and for that reason we would have to take charge ultimately of the businesses that we were, the business we were conducting overseas through independent distributors. And there was also a recognition that to be the same brand in Europe or in Asia as we were in North America, we would have to be something slightly different because of cultural values, cultural interpretations.
>> In Salt Lake, like every two to three months stay here for one week to two weeks and but we work together on a daily basis. My name's Thomas Hodel, I'm from Switzerland. Born in Lucerne. Doing outdoor sports were, was always a big part of my life so a big passion of me and that's why I'm here working at Black Diamond sharing that passion and I have two roles at the moment. On a global view I'm responsible for all the ski categories, so together with the team here we define strategies and directions for all the categories which belong to the ski side. And then in Europe I'm the European Category Director so the role there is to make sure whatever we do here works also in Europe and the European needs are covered. And it takes a long time to really figure out the differences in Europe and it's every country has a different culture, mentality. Having that European perspective, I think that's a, that's definitely asset I can bring into this glob- into this company and help this company to become more global and to address those needs better.
>> What is most important to the success of Black Diamond is our unique culture and in all of the, in all of our locations the people that we've put in place there to lead those businesses, they all have a real passion for these activities. They have spent substantial time here. They've been immersed in this culture. They see how we operate. At our Asian facility that we built as a Greenfield project eight or nine years ago, what we did right in the process of hiring, right when we started, was we got people, anybody like you have to learn to repel, repel off the roof. We'd do weekend events where we'd take them hiking. So we're instilling in folks in a myriad of ways what the BD attitude and philosophy is towards life, towards work, collegiality, cooperation. You're only as strong as your weakest member. You have to have implicit trust and confidence in the competency of your partners.
>> So yeah having been in Asia for almost seven years it's a very dynamic culture, especially in China. There's a strong sense of change. There's a strong sense of growth. My name is Vindi Agher [assumed spelling]. Actually you pronounce it as Vindi Agher, but that's difficult so Vindi Agher, I go with Vindi Agher. I'm the VP of Manufacturing here at Black Diamond. Our business is really global. Our customers are global. And our manufacturing is definitely global as well. So yeah we own our own factory in Zhuhai. The products that we assemble and produce in the factory in Zhuhai are also part of this protective products that we use, that will be used in climbing and mountaineering so the quality needs to be good. But also we want to ensure that it's been done in a good way. So we control it from start to finish which means how we treat the people, how we manufacture, and how we run the organization that we ensure that everything is done in the right way.
>> Then another part of our business when it comes down to the soft goods, that is made what we call in the trade OEMs, original equipment manufacturers. Our people, our engineers-- in this case also my daughter, she's a developer of the apparel line-- she is spending weeks at a time at these factory partners in a place like Vietnam or China or Bangladesh and I would not send a 26 year old, my 26 year old daughter to spend time and be in these factories if I weren't comfortable with them. But more importantly, we have a certification and compliance process. We have auditors that go into these factories. We have a very strict guideline of ethical sourcing requirements. So we check these factories. We're not at some sweatshop. The factories that we're in, I think of the apparel factory in Bangladesh, the people get three meals a day, there's healthcare, there's English language, there's money for additional education, it's well ventilated, well lit. It's clean. It's safe. Because that's very important to us and what our values are. Being a global operation brings with it incredible opportunities for growth, for unique insights, for innovation, for just thinking differently than you would otherwise think. It also is taxing, time consuming. It demands that you are constantly questioning your, we're Americans so our American sort of perspective on things. It requires us, if we want to be true to being global, to not just nod at being global but create a true global management team, make sure that that team is part of the leadership team and part of the decision making process. Because being global is about more than just selling globally. If you really want to be a global brand, you have to think globally. And that's easy to say and harder to do.
Questions:
1. How does Black Diamond integrate social responsibility into its culture? (1 mark)
2. How does the global nature of the company and its markets influence how it thinks about employee diversity? (1 mark)
3. (a) How would you describe Black Diamond’s ethics in terms of how it treats its employees at the company’s factory partners in Vietnam, China, and Bangladesh? (1 mark)
(b) Do you think that it is appropriate for firms like Black Diamond to scrutinize its partner factories like this? (1 mark)
(c) Why or why not? (1 mark)
In: Operations Management
IF you were the CEO of an organisation facing the challenges and opportunities specified in question 1, what steps would you take to address the challenges and utilize the opportunities
In: Accounting