essay questions
Although natasha is a brilliant pianist and highly acclaimed ballent dancer, her high school intelligence test scores were only average. what does natasha's experience suggest regarding the nature of intelligence?
Diego is the oldest son of Mexico parents who immigrated to the US less than five years ago. diego's high school teachers perceive him to be fairly intelligent. but his SAT scores are low, and he is having trouble getting into college. Diego,s mother angrily claims that " intelligence tests are biased against Hispanics. " Diego's father sadly counters, "it's not the tests that are biased; it's American education that is biased." Carefully explain why you would agree or disagree with the comments made by each parent.
In: Psychology
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Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $460,000 of net income and the following selected transactions occurred in the order given: |
| a. | Issued 100,000 shares of the common stock at $61 cash per share. |
| b. | Reacquired 31,000 shares at $56 cash per share. |
| c. | Reissued 13,000 shares from treasury for $57 per share. |
| d. | Reissued 13,000 shares from treasury for $55 per share. |
References
section breakPA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2]
26.
value:
0.37 points
Required information
PA11-1 Part 1
| Required: | |
| 1. |
Indicate the account, amount, and direction of the effect on above transaction. (Enter any decreases to account balances with a minus sign.) |
References
eBook & Resources
Accounting EquationDifficulty: 2 Medium
PA11-1 Part 1Learning Objective: 11-02 Explain and analyze common stock transactions.
Check my work
27.
value:
0.37 points
Required information
PA11-1 Part 2
| 2. |
Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) |
In: Accounting
Match the following terms with the appropriate definitions A - I:
Question 26 options:
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In: Accounting
At the beginning of 2019, Dr. John opened his medical practice as a personal service
corporation. The entity uses a December 31 year-end and the accrual method of
accounting. During the year, the corporation billed patients and insurance companies for
$485,000 for medical services. At the end of the year, $60,000 of this amount had not
been collected. The entity earned $1,500 interest on a money market account held in the
local bank and another $1,500 interest on an investment in bonds.
Dr. John’s salary from his corporation is $14,000 per month. However, he did not cash
his November and December payroll checks until January 2020. To help provide funds to
invest in the new business, Dr. John’s parents loaned him $150,000 and did not charge
him any interest. He also owns stock that has increased in value from $7,000 at the
beginning of the year to more than $30,000 at the end of the year. In 2019, Dr. John’s
wife died unexpectedly. Since Dr. John was the beneficiary of his wife’s life insurance
policy, he received a check for $200,000 from the Insurance Company on December
2019.
Although Dr. John took several accounting classes in college, he would like your help in
calculating the correct amounts of his own gross income and the gross income of the
corporation.
Would the calculations be different if the corporation used a cash method of accounting?
In: Finance
This week we will be studying the mathematics of finance. Most people take out a loan for making big purchases like a home or a car. People who have a balance on their credit card are borrowing money. Some investigation is often required to find the “Best Deal”. Please post your solution to one of the following problems: a) Calculate the amount of simple interest earned : $3,500 at 7% for 3 years b) Find the future value : $475 at 3.25% compounded daily for 5 years c) Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their savings account is depleted, and they will need to borrow money in order to buy a new one. Sears offers them an installment loan at 16 %( add-on rate). If the refrigerator at Sears costs $1,540 plus 5% sales tax, and Karen and Wayne plan to pay for the refrigerator for 3 years, what is the monthly payment?
In: Accounting
Please explain the answer and which laws apply.
Thanks
Sayre learned that Adams, Boone, and Chase were planning to form a
corporation for the purpose of manufacturing and marketing a line
of novelties to wholesale outlets. Sayre had patented a
self-locking gas tank cap but lacked the financial backing to
market it profitably. He negotiated with Adams, Boone, and Chase,
who agreed to purchase the patent rights for $5,000 in cash and 200
shares of $100 par value preferred stock in a corporation to be
formed.
The corporation was formed and Sayre's stock issued to him, but the corporation has refused to make the cash payment. It has also refused to declare dividends, although the business has been very profitable because of Sayre's patent and has a substantial earned surplus with a large cash balance on hand. It is selling the remainder of the originally authorized issue of preferred shares, ignoring Sayre's demand to purchase a proportionate number of these shares. What are Sayre's rights, if any? Please explain.
In: Accounting
Connor is not married and supports Connor's 12 year old child who lives with Connor and has gross income of $2,650 (the child's gross income). Connor works as a self-employed realtor and earned commissions of $146,000 during 2019. Connor’s business expenses were $18,900 and the only other income was interest of $7,300. Connor’s other information follows:
Contribution to solo(k) retirement plan $ 5,500
Loss on sale of Alphatech stock held 2 years -3,200
Mortgage interest on primary residence 6,950
State and local property tax on residence 4,350
Property tax included in personal auto registration 960
State sales taxes paid 370
State income taxes paid 3,800
Charitable contributions of cash 3,350
Political contributions 550
All information is for 2019.
Calculate Connor's adjusted gross income and taxable income. Show your work!
AGI = $____________ Taxable Income = $____________
In: Accounting
In November 24, 2014, Netflix filed a lawsuit against its former vice president of IT operations, Mike Kail, alleging fraud, breach of fiduciary duties, and other charges. Here is an excerpt from the lawsuit filing in Superior Court of the State of California, Santa Clara County:.
“…During his tenure at Netflix, including as Netflix’s Vice President of Information Technology Operations, Kail was a trusted senior-level Netflix employee. Kail’s job responsibilities at Netflixincluded negotiating and executing contracts on behalf of Netflix to acquire IT-related products and services…approving invoices for payments that third parties would request related to IT products and services purchased by Netflix….after Kail approved such invoices, Netflix would pay the third parties for these approved invoices. Kail was a trusted, senior-level Netflix employee, with authority to enter into appropriate contracts and approve appropriate invoices.” (See entire legal document at http://www.scribd.com/doc/248259590/Netflix-v-Kail.)
Netflix is suing Mr. Kail for fraud, breach of fiduciary duties, and other actions. Mr. Kail was in charge of entering into and authorizing contracts for Netflix’s tech vendors, which included two companies, Vistara IT and Netenrich (both founded/owned by Mr. Raju Chekuri.) At the same time, Mr. Kail had his own company on the side called Unix Mercenary, which he did not disclose to Netflix.
Mr. Kail’s company Unix Mercenary received 12 – 15% commissions on all contract invoices paid by Netflix to Vistara IT and Netenrich. Part of the evidence that Netflix outlines in its lawsuit are emails between Mr. Kail and employees of Netenrich which refer to “referral fees” from Netenrich to Unix. Here is an excerpt from an email from Netenrich to Kail (from the above-mentioned lawsuit filing):
…”[We] discussed getting you paid and I just need to ensure the payments from Netflix are in Netenrich’s bank account…I suggest we employ the following process to ensure you receive your referral fees on a timely basis…”
Over a three year period, Netflix paid approximately $3.7 million to Vistara IT and Netenrich, which would translate into commission payments of between $440,000 - $550,000 to Unix Mercenary. The lawsuit only mentions specific payments of $76,000 to Unix Mercenary.
Incidentally, Mike Kail left Netflix in August 2014 to become Yahoo’s Chief Information Officer (CIO).
Respond to the following questions in the MODULE 6 Discussion Forum
What internal control principle(s) does it appear was (were) violated at Netflix?
How might Netflix have designed its internal processes differently to avoid the situation that arose with Mr. Kail?
Should Mr. Kail be held totally liable for this situation? Does Netflix have any degree of responsibility in this situation?
Specifications
In: Accounting
Complete the Module 6 Discussion Forum
In November 24, 2014, Netflix filed a lawsuit against its former vice president of IT operations, Mike Kail, alleging fraud, breach of fiduciary duties, and other charges. Here is an excerpt from the lawsuit filing in Superior Court of the State of California, Santa Clara County:.
“…During his tenure at Netflix, including as Netflix’s Vice President of Information Technology Operations, Kail was a trusted senior-level Netflix employee. Kail’s job responsibilities at Netflix included negotiating and executing contracts on behalf of Netflix to acquire IT-related products and services…approving invoices for payments that third parties would request related to IT products and services purchased by Netflix….after Kail approved such invoices, Netflix would pay the third parties for these approved invoices. Kail was a trusted, senior-level Netflix employee, with authority to enter into appropriate contracts and approve appropriate invoices.” (See entire legal document at http://www.scribd.com/doc/248259590/Netflix-v-Kail.)
Netflix is suing Mr. Kail for fraud, breach of fiduciary duties, and other actions. Mr. Kail was in charge of entering into and authorizing contracts for Netflix’s tech vendors, which included two companies, Vistara IT and Netenrich (both founded/owned by Mr. Raju Chekuri.) At the same time, Mr. Kail had his own company on the side called Unix Mercenary, which he did not disclose to Netflix.
Mr. Kail’s company Unix Mercenary received 12 – 15% commissions on all contract invoices paid by Netflix to Vistara IT and Netenrich. Part of the evidence that Netflix outlines in its lawsuit are emails between Mr. Kail and employees of Netenrich which refer to “referral fees” from Netenrich to Unix. Here is an excerpt from an email from Netenrich to Kail (from the above-mentioned lawsuit filing):
…”[We] discussed getting you paid and I just need to ensure the payments from Netflix are in Netenrich’s bank account…I suggest we employ the following process to ensure you receive your referral fees on a timely basis…”
Over a three year period, Netflix paid approximately $3.7 million to Vistara IT and Netenrich, which would translate into commission payments of between $440,000 - $550,000 to Unix Mercenary. The lawsuit only mentions specific payments of $76,000 to Unix Mercenary.
Incidentally, Mike Kail left Netflix in August 2014 to become Yahoo’s Chief Information Officer (CIO).
Respond to the following questions in the MODULE 6 Discussion Forum
What internal control principle(s) does it appear was (were) violated at Netflix?
How might Netflix have designed its internal processes differently to avoid the situation that arose with Mr. Kail?
Should Mr. Kail be held totally liable for this situation? Does Netflix have any degree of responsibility in this situation?
In: Accounting
Please read the following made up story and come up with 1 1/2-2 page resolution to the story
Keeping
organizations properly succeeding is vital in our mission at OTC
(Organizational Theory Consultants). We pride ourselves in being
able to upright the most complex of situations involving various
organizations needing a turn around to keep from failing in their
specific industry. Organizations need to have their culture running
like a well
oiled machine to
avoid any hiccups which can have a negative impact. Culture is one
of the most important theories we at OTC focus on. Culture involves
a variety of different aspects that reside in the organizations we
are called into help. Culture can have many different
variable
that need to
be addressed such as the ethics, morals, values, synergy,
relationships, etc.
The culture within organizations is highly regarded in terms of success within the organization; a lack of culture can ultimately cripple an organization from the inside. “There are many definitions of organizational culture yet all pointing to the idea that culture represents a shared understanding of “How we do things around here.” It is comprised of written and unwritten, norms, beliefs, values, attitudes, and feelings that are expressed in the stories, rituals, ceremonies, behaviors, and the workplace’s physical setting. These different attributes contribute to the whole picture of the organization, creating essentially a personality based on how the company ticks internally. Culture within an organization is the most vital aspect that can be researched in depth in regards to success and failure within organizations.
We have been summoned to a semi large retailer in the D.C area whom provides a variety of services and the sale of goods, an overall general store. The morale among the store is quite well between associates and supervisors, with a clear and concise company goal of customer service. The associates of this retailer abide by this overall goal and respectfully the customers admire their attitude. The associates among themselves have formed a tight knit family like atmosphere, but with any organization there are a few bad apples that appear to want to go against the grain of the organization. From an outside picture this retailer has all the positive cultural aspects to remain a top competitor in their industry; but, the store owner has noticed the statistical sales are on in a dive bomb towards becoming bankrupt. The owner has called us to peel back the various layers of his organizations to identify the potentially fatal underlying issues.
Our team has been called into this retailer for a reason so we can take a thorough look into the underlying aspects as to why this retailer is beginning a downward spiral to failure. Once we identify the problematic organizational culture issues that present themselves then we can help turn this organizations into a positive trending successful retail store.
Prestige apparel has been in business for almost 10 years. Known by both their employees and customers to high moral and very little turnover it is surprising to many that they are currently facing the issues they are today and receiving such negative media attention. Almost two weeks ago a female employee reported a sexual harassment incident to HR and her immediate manager. Their response was that they saw no reason to take extreme measures and that having a sit-down with him should be enough. For years Prestige apparel has made it their business to ensure their employees of the fact that they have a work environment where they feel safe above all else. This situation changed things for some employees, they no longer felt safe and protected. A system that once made them feel safe by providing the ability to report incidents as such and know that they would be thoroughly investigated failed them. In this situation HR failed to take extreme measures because they did not want to lose a manager who has been employed for years with the company and produces great numbers. Not only is this unethical but their lack of holding this individual accountable for their actions have caused a huge uproar in a once safe workplace. Employees no longer come to work with the same work ethic they once did. The moral has completely shifted, and the tension can be felt amongst the customers every time they enter the store.
Prestige’s decision to turn a blind eye on a situation this serious has resulted in the employee feeling as if their only choices were to quit or stay and deal with the possibility that it could possibly occur again and be sweep under the rug. The employee decided to take matters into her own had and go public with her story which is now drawing negative media attention to the company. What once made this company unique were their company values; employees were always encouraged to be themselves, to work as a team to accomplish/meet goals, to protect and treat one another with respect has suddenly fallen to the waist side. As time passed they ultimately forgot to keep the pace of a once family-oriented work environment and some managers became more obsessed with company gains and meeting their sales in order to receive their bonuses at the end of each quarter. Once money became the main goal all ethical standards went out of the window. Upper management turned a blind eye to important issues taking place under their noses in order to keep their highest earners in que. Now that the media has caught wind of this situation loyal customers and investors are demanding the company take action. Failure to do so can greatly impact the future of the company.
In: Operations Management