RPM manufactures racks for CDs. Costs are$8.95per rack. A wholesaler buys CD racks from RPM at$20.20each, then sells them at$44.30to retailers. The retailer sells the racks for$58.40each to consumers. How much more unit contribution does the retailer earn using margin instead of markup per sale?

Japanese businesses use quality circles, which are organic work groups of empowered employees, to include staff in enhancing business operations and process competence.

The complete question is:

________ are natural work teams made up of workers who are empowered to improve work processes and are used by Japanese companies to involve employees in improving processes and process capability.

A) Empowerment task forces

B) Cross-functional teams

C) Horizontal task forces

D) Vertical task forces

E) Quality circles

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One could look at the number of employees, total assets, net worth, and valuation of a company to determine its size.

Net worth is a financial term that refers to the difference between the assets and liabilities of a business or an individual. The difference between what you have and what you owe is known as net worth. Your net worth is the value of everything you possess, including your home, cars, savings, and investments, minus any outstanding debts you owe.

Valuation is the process of determining the current worth of a company, asset, or liability. It can be done by calculating the net present value of future cash flows or comparing it to similar assets or liabilities. In corporate finance, it is used to estimate the value of a company for investment or acquisition purposes. It is a critical component of the decision-making process for investors, shareholders, and management teams.

Therefore, to determine the size of a company, one could look at the number of employees, total assets, net worth, and valuation.

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The increase in retained earnings is $244. Retained earnings represent a company's accumulated earnings that have not been paid out to shareholders as dividends. The increase in retained earnings can be calculated by subtracting the beginning balance of retained earnings.

Income statement is a financial statement that presents a company's revenue, expenses, and net income over a period of time. To recreate the income statement, we need to calculate the following: Total revenue: Net sales + Revenue from additional services = 1000 + 500 = 1500.

Total expenses: Wages + Rent + Cost of wages, raw materials, supplies & manufacturing + Utilities + Interest amount = 100 + 50 + 500 + 10 + 100 = 760

Pre-tax income: Total revenue - Total expenses = 1500 - 760 = 740, Taxes: Pre-tax income x Tax rate = 740 x 0.4 = 296 and Net income: Pre-tax income - Taxes = 740 - 296 = 444. Retained earnings: Net income - Dividend = 444 - 200 = 244

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To ensure that all data collected is routinely analyzed and synthesized, it is essential to establish a clear and structured data management plan. Here are some steps that can be taken to achieve this:

Explanation of the steps to ensure that all data collected is routinely analyzed and synthesized:

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When using the periodic inventory system, the Merchandise Inventory account is not used. The answer is option a.

A periodic inventory system is a method of accounting for inventory in which a physical inventory count is performed at predetermined periods to calculate the ending inventory balance and Cost of Goods Sold (COGS) for the period.

In a periodic inventory system, the cost of goods sold is calculated by beginning inventory plus net purchases minus ending inventory. This is in contrast to a perpetual inventory system, in which the cost of goods sold is calculated continuously as sales occur by subtracting the cost of goods sold from the inventory balance.

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Antoinette's basis in the 40 shares is $3,256.20. Explanation: Antoinette received 40 shares of Gertz's common stock on April 14, 2020.

The fair market value of these 40 shares on that date was $2368. The fair market value per share would then be $59.2 ($2368 / 40 shares)We may calculate the total shares Antoinette owns by adding the newly obtained 40 shares to the 400 shares she previously owned. W

So, the total shares owned by Antoinette would be 440 (400 + 40).In May 2015, Antoinette purchased 400 shares of Gertz's common stock for $16,280. The per-share cost at that time was $40.7 ($16,280 / 400 shares). Antoinette's entire holdings, including the new shares, had a total value of $28,448.

This is how you'd calculate it:$59.2 (FMV of the new shares) x 40 (number of new shares) = $2,368 (value of new shares)$40.7 (per-share cost in 2015) x 400 (number of shares owned at that time) = $16,280 (total cost of those shares in 2015)$16,280 (total cost of those shares in 2015) + $2,368 (value of new shares) = $18,648 (total cost of all shares in 2020)$18,648 (total cost of all shares in 2020) / 440 (total number of shares in 2020) = $42.38 (basis per share)In conclusion, Antoinette's basis in the 40 shares is $3,256.20 ($42.38 x 77 shares).

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Based on the information provided, the organizational structure of the large electronics company can be identified as a Functional Structure.

Customer Relationship Management (CRM) refers to the strategy and tactics used by businesses to handle and review customer interactions and data throughout the entire customer journey to improve customer loyalty and retention, gain better insight into customers, and provide better customer service.

Organizational structure is the system that defines the relationships, roles, responsibilities, and communication channels that govern the activity of an organization. It also depicts how resources are allocated and controlled to achieve the organization's goals.

Functional Structure is an organizational structure in which similar or related occupational specialties are grouped into departments that serve a particular business function. The activities of the company are classified into different functions such as marketing, production, and finance, and departments are created around these functions.

Hence, based on the information provided, the organizational structure of the large electronics company can be identified as a Functional Structure.

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If sales decline to 2,900 units, the net operating income would be closest to $8,000.

To determine the net operating income if sales decline to 2,900 units, we need to use the contribution margin ratio. The contribution margin ratio is the contribution margin divided by sales. We can use this ratio to determine the contribution margin at a different level of sales.

Contribution margin ratio = Contribution margin / Sales
= 30,000 / 120,000
= 0.25

Now, we can use the contribution margin ratio to determine the contribution margin at 2,900 units.

Contribution margin at 2,900 units = Contribution margin ratio x Sales at 2,900 units
= 0.25 x (2,900 units x $40 per unit)
= $29,000

Finally, we can use the contribution margin at 2,900 units to determine the net operating income.

Net operating income = Contribution margin - Fixed expenses
= $29,000 - $21,000
= $8,000

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A triple-bottom-line strategy, which entails balancing the three dimensions of people, planet, and profit, can help small businesses in the retail sector manage the barter between social, environmental.

Employ sustainable business practises: By implementing sustainable business practises, such as utilising eco-friendly packaging, buying from regional vendors, and cutting waste, small businesses can lessen their impact on the environment. Participate in corporate social responsibility (CSR) initiatives: By taking part in CSR activities like donating a part of their earnings to charity or volunteering their time to assist neighbourhood events, small businesses may support their communities and social concerns. Provide high-quality goods and services: By providing high-quality goods and services that satisfy their clients' needs, small firms can set themselves apart from more established rivals. This could enhance financial performance and create a base of devoted customers.

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One should be willing to pay around $24,000.00 for the financial instrument using a discount rate of 5.1 percent.

Financial instrument is an agreement between two parties that have a monetary value.

This type of financial instrument pays the investor $945 last year. It is anticipated that the cash flow will be lasting forever and increase at a rate of 1.3 percent annually.

The price to pay for this financial instrument can be calculated using the following formula:

Price = CF / (r - g)

Where:CF = cash flow = $945

r = discount rate = 5.1%

g = growth rate = 1.3% (annual increase)

Price = $945 / (0.051 - 0.013)

Price = $24,000.00(rounded to the nearest dollar).

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There is such a strong relationship between pay and performance for brokers because the outcomes of top brokers directly affect the profits made and economic advantage of the company.

What do you mean by broker?

In order to earn a commission when the deal is completed, brokers organize deals between buyers and sellers. Brokers who take on dual roles as buyers or sellers are considered primary parties to the transaction. Neither function should be confused with that of an agent, who represents the main party in a transaction. An impartial party whose services are widely used in some sectors is a broker. The main duty of a broker is to connect buyers and sellers, as a result, the broker acts as a neutral intermediary between a customer and a seller.

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The given statement is false. According to the theory of dynamic capabilities, businesses must be stable enough to provide value to customers while being robust and flexible enough to change their emphasis when circumstances call for a different strategy.

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The theory of capabilities explains how companies must be stable enough to deliver value to customers yet resilient and flexible enough to shift focus when situations demand a different approach. This statement is true because this theory emphasizes the importance of a company's ability to adapt to changing market conditions and customer needs in order to remain competitive and profitable.

Companies must have the capability to quickly and efficiently change their strategies and operations in response to external factors, while still maintaining stability and delivering value to customers.

By having strong capabilities in areas such as innovation, customer service, and operations, companies can remain resilient and flexible in the face of change.

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The expected value of the outcomes is $3,300. So, the answer is option B: $3,300.

The expected value of the outcomes is:

E(V) = [(-$0) x 20%] + [$3,500 x 60%] + [$6,000 x 20%]

E(V) = [$0] + [$2,100] + [$1,200]

E(V) = $3,300

Expected Value is a statistical measure of the probable amount of money that an investor, in this case, can expect to gain or lose from an investment. It is calculated by multiplying the potential profit or loss of each outcome by its respective probability of occurring and then adding up the results to get the expected value.

Therefore, the expected value of the outcomes is $3,300. So, the answer is option B: $3,300.

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The rationale for making an acquisition does not include decreasing taxes paid by shareholders. (A)

Acquisitions are typically made to overcome entry barriers, increase market power, and increase diversification. Acquisitions can be used to leverage economies of scale, gain access to valuable technology, or enter into a new market.

When companies make an acquisition, they are aiming to gain some strategic advantage that will increase their profits and create a stronger market position.

Acquisitions can also provide companies with an opportunity to increase diversification, by diversifying their products or services, which can help them to become less vulnerable to changes in the economic environment.(A)

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The optimal location for the passenger luggage pick-up point is at coordinates (15, 15). By locating the pick-up point at this position, the movement of luggage would be minimized because it is in the center of the arrival gates and therefore the same distance from all gates.

To illustrate, the distance between the pick-up point and gate A would be the same as the distance between the pick-up point and gate J (10 units). Similarly, the distance between the pick-up point and gate H would be the same as the distance between the pick-up point and gate W (10 units). Moreover, the distance between the pick-up point and gates X, Y and D would be 5 units.

Theoretically, the sum of the distances between the pick-up point and all 10 arrival gates would be the same for any position within the terminal building. Therefore, the pick-up point should be located at the point which is the same distance from all 10 gates, in order to minimize the movement of luggage. In this case, the point at coordinates (15, 15) is the optimal solution.

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Each American would need to contribute $403.50 annually to cover the cost of the War on Terror if the payment could be delayed by 116 years.

To determine how much the government would need to invest annually if the cost of the War on Terror could be delayed 116 years, we need to calculate the future value of $8.2 trillion, given a T-Bill rate of 4.62% and a period of 116 years using the formula:

FV = PV x (1 + r)t

where:

Using this formula, we get:

FV = $8.2 trillion x (1 + 0.0462)^116 FV = $933.6 trillion

So the future value of the War on Terror cost after 116 years is $933.6 trillion.

To determine how much would the government need to invest annually, we need to calculate the present value of $933.6 trillion, given a T-Bill rate of 4.62% and a period of 116 years using the formula:

PV = FV / (1 + r)t

where:

Using this formula, we get:

PV = $933.6 trillion / (1 + 0.0462)^116 PV = $134.5 billion

So the government would need to invest $134.5 billion annually, assuming a T-Bill rate of 4.62%, to cover the cost of the War on Terror after 116 years.

To determine how much this would come to per American each year, we can divide $134.5 billion by the U.S. population of 333.3 million people:

Per American = $134.5 billion / 333.3 million Per American = $403.50

So each American would need to contribute $403.50 annually to cover the cost of the War on Terror if the payment could be delayed by 116 years.

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The following is not one of the benefits of top-level executives at both Lafarge and Holcim hoped to realize through the integration of their operations: increasing market share in Europe.  

The motive behind the integration of their operations was to further strengthen their market presence, diversify their product offerings, reduce costs, and optimize the efficiency of their operations.

The benefits of top-level executives at both Lafarge and Holcim hoped to realize through the integration of their operations are given below:

The motive behind the integration of their operations was to further strengthen their market presence, diversify their product offerings, reduce costs, and optimize the efficiency of their operations.

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The optimal hedge ratio, Long Hedge, and contracts can be calculated as follows :

The optimal hedge ratio is calculated by dividing the standard deviation of the changes in spot price by the standard deviation of the changes in futures price.

Here, standard deviation of monthly changes in the spot price of Lean Hog Futures is 6 cents per pound, and the standard deviation of monthly changes in the futures price of Lean Hog Futures the closest contract is 8 cents per pound.

Therefore, the optimal hedge ratio will be calculated as follows:

Optimal Hedge Ratio = Standard Deviation of Changes in Spot Price / Standard Deviation of Changes in Futures Price

Optimal Hedge Ratio = 6 / 8 = 0.75

Therefore, the optimal hedge ratio is 0.75.

After determining the optimal hedge ratio, we can use the following formula to decide if the client should take a long or short position.

Long Hedge = Optimal Hedge Ratio × Amount to be Hedged

Short Hedge = Optimal Hedge Ratio × Amount to be Hedged

Since the client wants to hedge its risk, it will take a long position.

Therefore, the pork producer should take a Long Hedge.

The total amount of lean hog the client wants to sell is 800,000 pounds. The amount of lean hog per contract is 80,000 pounds.

Therefore, the number of contracts required to hedge the risk will be:

Number of Contracts = (Amount to be Hedged) / (Amount per Contract)

Number of Contracts = (800,000) / (80,000)

Number of Contracts = 10

Therefore, the client needs to take 10 contracts of lean hog futures to hedge the risk.

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The organizational structure of Starbucks is wide and flat. Advantages of this structure are it promotes collaboration and communication and enables innovation. Disadvantages are difficult management of resources, lack of accountability, and increased cost.

Starbucks has a wide and flat organizational structure. This structure allows the company to have more decentralized decision-making, as decisions can be made at a lower level of the organization. This type of structure is beneficial for Starbucks because it promotes collaboration and communication between different departments and teams within the organization. It also allows for more innovation and creativity as employees have greater freedom and flexibility to think outside the box.

On the other hand, it may lead to difficulty in managing the organization and resources in an effective manner, and it could result in a lack of accountability if there are not well-defined roles and responsibilities. Additionally, it can lead to increased costs as there may be more overhead due to additional team members and resources.

Note: The question is incomplete. The complete question probably is: Does Starbucks have wide and flat or tall and thin organizational structure. Provide advantages and disadvantages of this organizational structure to meet the aims of the organization.

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Poor human rights records does not allow eHarbour to withdraw from its existing contract with the US Olympic Committee and US sailing. eHarbour could be sued for breach of contract. The company could try to defend itself in a breach of contract case by claiming that the unforeseen event made performance difficult or impossible. However, this defense is likely to be ineffective since the contract did not contain a force majeure clause.

As a general principle, a contract cannot be discharged by an unforeseen event that makes performance difficult or impossible. When a contract has been entered into between parties, they both are bound by the terms and conditions mentioned in it. The same applies to eHarbour as well. It signed a contract with the United States Olympic Committee and US sailing, and now it is in a situation where it has to sponsor the US sailing team in the upcoming Olympics. Therefore, eHarbour is legally obligated to sponsor the sailing team.The fact that the Olympics had to be relocated to a country that has poor human rights records does not allow eHarbour to withdraw from its existing contract with the US Olympic Committee and US sailing.

In this case, eHarbour could be sued for breach of contract. The company could try to defend itself in a breach of contract case by claiming that the unforeseen event made performance difficult or impossible. However, this defense is likely to be ineffective since the contract did not contain a force majeure clause.The consequences of eHarbour's decision to withdraw its sponsorship from the Olympic Games would be severe. They would damage its reputation as a responsible corporate citizen and could hurt its sales. On the other hand, if eHarbour does not withdraw its sponsorship, it could face negative publicity and boycotts by consumers and advocacy groups. These groups could tarnish eHarbour's image by associating it with human rights abuses and discriminatory policies. Therefore, it is essential that eHarbour does not withdraw its sponsorship from the Olympic Games.

EHarbour should consider promoting its values of diversity and inclusivity during the Olympic Games. It should make a public statement in support of human rights and condemn any policies that are discriminatory or abusive. This way, the company can protect its reputation and demonstrate its commitment to social responsibility.

Question: Last year, eHarbour signed a contract with the United States Olympic Committee and US Sailing, the national governing body for the sport of sailing, to sponsor the US Sailing team in the upcoming Olympics. The marketing team hoped that sponsoring sailing at the Olympics would provide good publicity to promote eHarbour software. Unfortunately, the venue for the Olympic Games had to be moved to a country known for multiple human rights violations, including the mistreatment of women and certain ethnic groups. As a result, there is now a lot of bad publicity surrounding the upcoming Olympics. Articles have appeared in newspapers and magazines demanding that corporate sponsors pull out from the upcoming Olympics. Some members of Congress have called for sponsors to withdraw their sponsorship of the Olympics. In this context, discuss whether eHarbour can withdraw its sponsorship from the Olympics without violating its existing contract with the United States Olympic Committee and US Sailing. What defenses could eHarbour assert in a breach of contract case? What are the consequences if eHarbour decides not to withdraw its sponsorship? Based on this situation, what recommendation would you give to eHarbour?

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In the space provided, I will provide a key scheme for the control types of a service microenterprise:Financial controls: Budgeting and forecasting Cash flow management Accounting and bookkeeping Financial reporting Operational controls:

Service delivery processes Quality control and assurance Inventory management Equipment maintenance and repair Human resources controls: Recruitment and selection of employees Performance management and evaluation Training and development Compensation and benefits administration Customer service controls: Complaints management Customer feedback collection and analysis Service level agreements (SLAs) Service guarantees and warranties Information technology controls: Data backup and recovery  Cybersecurity and data privacy  IT infrastructure management  Software licensing and updates By implementing these control types, a service microenterprise can ensure that it operates efficiently and effectively, meets customer needs and expectations, manages its finances properly, and provides a safe and secure environment for its employees and customers.

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A low need for affiliation and a moderate to high need for power is associated with managerial success. Therefore, the correct answer is the fourth option.

According to the motivation theory, human needs motivate the behavior of individuals. David McClelland developed an influential theory of motivation, which identified three needs or motives: achievement, affiliation, and power.

According to McClelland, the need for affiliation refers to the desire to establish, maintain, or restore close personal relationships with others. It is a desire for human contact and acceptance. The need for power refers to the desire to control, influence, or direct others or oneself. It reflects a desire for influence, competence, and achievement.

A lower need for affiliation and a higher need for power has been linked with managerial success. People with a high need for power have the drive to achieve positions of power and control. They are goal-oriented and possess the capacity to influence people around them. Managers who possess these traits are likely to do well, as the work of a manager requires a certain amount of control and the capacity to influence others in achieving organizational goals.

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Based on the search results, it appears that there are a few references to a potential case study involving Smith Imports Inc. The specific question you have provided is listed twice in the search results, but both times it appears to be incomplete.

Without additional information, it is difficult to provide a comprehensive answer to the question. However, based on the information available, it seems that the question may be seeking a recommendation on which supplier to use and why, possibly in the context of a purchasing decision for Smith Imports Inc. If you are able to provide additional details or context, I can try to provide a more tailored answer.

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By using the LIFO method, the purchase price is C, GHC450 per unit.

The Last In First Out (LIFO) method states that the last items to come in are the first to be taken out.

In this case, the beginning inventory was 100 units valued at GHC40000. The 250 units that came in during the month were valued at GHC63000. That means the additional 150 units cost GHC63000 - GHC40000 = GHC23000. So, the cost per unit is GHC23000 / 150 = GHC450.

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Walmart does report non-GAAP earnings, which exclude certain items such as restructuring charges and other one-time items.

As an AI language model, I do not have access to real-time financial data or current events. However, I can provide a general framework for how to approach this type of analysis using the most recent available financial statements and data for Walmart.

To compare Walmart's financial ratios to those of its close competitors, you can use online investment websites such as Yahoo Finance or Go-ogle Finance. Some of the key ratios to consider include:

It's important to consider the industry averages for these ratios and the specific business models of each competitor.

To find the consensus analysts' EPS forecast for Walmart, you can use online resources such as Yahoo Finance or Bloomberg. You should compare the actual EPS to the consensus forecast and look for any unusual changes in expenses or one-time items that might have caused the company to meet or beat the forecast.

Walmart does report non-GAAP earnings, which exclude certain items such as restructuring charges and other one-time items. It's important to carefully review the disclosures to determine whether the items excluded are reasonable or potentially self-serving. You should also compare Walmart's non-GAAP earnings to those of its competitors to see if there are any significant differences.

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a. Explanations as to whether the financial statements for each of the cases require amendment are presented below.

b. Descriptions of the audit procedures to form a conclusion on any required amendment are also presented below:

a. Explanation of whether the financial statements for each of the above cases require amendment:

1. Defective cables: The financial statements should be amended to reflect the RM1.85 million cost of the defective cables and the RM0.3 million scrap value. This will result in a loss of RM1.55 million being recognized in the income statement.

2. Explosion: The financial statements should be amended to reflect the RM0.7 million loss in inventory and property, plant, and equipment. This will result in a loss of RM0.7 million being recognized in the income statement.

3. Unauthorization payment: The financial statements should be amended to reflect the RM715,000 cost of the land purchase that was made without proper authorization. This will result in an increase in assets of RM715,000 and a decrease in retained earnings of RM715,000.

4. Inconsistency accounting method: The financial statements should be amended to correct any inconsistencies in the application of the depreciation policy. This will result in an adjustment to the carrying value of the affected assets, which will impact the income statement and balance sheet.

5. Under estimation: If the external valuer's lack of experience raises concerns about the reliability of the valuation, the financial statements should be amended to reflect a more conservative valuation of the investment properties. However, if the auditor is satisfied with the valuer's credentials and work performed, no amendment is required.

b. Audit procedures that should be performed in order to form a conclusion on any required amendment:

1. Defective cables: The auditor should review the quality control procedures followed by MFB and assess whether they were adequate in identifying and preventing defective cables. The auditor should also assess the appropriateness of the decision not to correct the defect and whether it was made in accordance with relevant accounting standards.

2. Explosion: The auditor should assess the cause of the explosion and review MFB's insurance policy to determine whether the loss is covered. If the auditor agrees with management's assessment that the loss is not covered by insurance, the auditor should assess the appropriateness of the loss estimate provided by management.

3. Unauthorization payment: The auditor should review MFB's authorization process for capital expenditures and determine whether the purchase of land without proper authorization is a material weakness in internal control. The auditor should also review the minutes of the management team meeting to determine whether the purchase was actually authorized.

4. Inconsistency accounting method: The auditor should assess whether the inconsistency in the application of the depreciation policy is material and whether the disclosures in the notes to the account are sufficient. The auditor should also assess whether the justification provided by management is reasonable and whether it is consistent with relevant accounting standards.

5. Under estimation: The auditor should assess the credentials and work performed by the external valuer and determine whether the valuation of the investment properties is reliable. The auditor should also assess whether the fair value disclosed in the financial statements is reasonable given the valuer's lack of experience.

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A. Calculation of service revenue earned as of December 31 is as follows:

On November 20, ACME Corporation received $8,000 cash in advance from various customers for services starting December 1. By December 31, $2,700 worth of services had not yet been performed, leaving $5,300 of services that had been performed.

The amount of service revenue earned as of December 31 is $5,300.

B. The adjusting journal entry required at December 31 is as follows:

As ACME Corporation received $8,000 in advance, it would record this transaction under Unearned Service Revenue. Since $5,300 has already been provided, ACME must adjust its accounts by reclassifying $5,300 from Unearned Service Revenue to Service Revenue.

According to the accrual basis of accounting, revenue must be recognized when earned rather than when received. Therefore, the adjusting journal entry for service revenue earned for the year would be:

December 31 Service Revenue $5,300

Unearned Service Revenue $5,300

Service revenue that has been earned will be debited and Unearned service revenue will be credited.

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In preparing its 2023 financial statements, Rosenbluth has determined that it must write off $89,760 of its recorded goodwill.

The way to write this on a multiple-step income statement is to show this as a separate expense item that is presented in the income statement section between income from operations and income before income taxes.

This is presented as follows: Rosenbluth Company Income Statement For the Year Ended December 31, 2023Sales revenue $XXXCost of goods sold(XXX)Gross profit XXX Operating expenses:

Selling expenses(XXX)General and administrative expenses(XXX)Total operating expenses(XXX)Income from operations XXX Other income: Gain on sale of land XXX Interest income XXX Total other income XXX Other expenses:

Loss on sale of equipment(XXX)Goodwill impairment loss(89,760)Total other expenses(89,760)Income before income taxes XXX Income tax expense(XXX)Net income XXX

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You can invest $25,000 as a down payment to purchase the house with a 24% tax bracket and 10% mortgage interest rate, the after-tax internal rate of return (IRR) would be 17.1%.

After-tax IRR (Internal Rate of Return) is a financial metric that measures the rate of return on an investment after accounting for taxes. It takes into account the net cash inflows and outflows from an investment, as well as the tax implications of those cash flows. To calculate the after-tax IRR, you start by estimating the expected net cash inflows and outflows from the investment, including any tax payments or credits. You then use a discounted cash flow (DCF) analysis to determine the rate of return that makes the present value of the cash inflows equal to the present value of the cash outflows.

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The gain is the same in both scenarios as the holding period is more than one year in both cases.

a. Since Martin acquired the stock on November 15, 2016, and sold it on August 2, 2017, he held the stock for more than one year, and therefore, the gain or loss is considered long-term capital gain or loss. To calculate the gain, we subtract the adjusted basis from the selling price:

$26,000 (selling price) - $15,000 (adjusted basis) = $11,000 (long-term capital gain)

b. If Martin had acquired the stock on September 11, 2015, and sold it on August 2, 2017, he also held the stock for more than one year, and marginal cost therefore, the gain or loss is considered long-term capital gain or loss. To calculate the gain, we subtract the adjusted basis from the selling price:

$26,000 (selling price) - $15,000 (adjusted basis) = $11,000 (long-term capital gain)

Therefore, the gain is the same in both scenarios as the holding period is more than one year in both cases.

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