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jarptica [38.1K]
3 years ago
12

Lansbury Inc. had the following balance sheet at December 31, 2019.

Business
1 answer:
timofeeve [1]3 years ago
8 0

Answer:

See explanation

Explanation:

Requirement A

See the image Below:

Requirement B

                     LANSBURY INC.

                    BALANCE SHEET

             As at December 31, 2020

             Assets

Cash                                                                   $37,000

Accounts receivable                                          $41,600

Investment                                                         $20,400 <em>(Note - 1)</em>

Plant asset                                      $81,000

Less: Accumulated depreciation <u>($11,000)   </u>  

Book value of Plant asset                                 $70,000

<u>Land                                                                   $53,000</u>

Total assets                                                     $222,000

Liabilities and Stockholders' Equity

           Liabilities

Accounts payable        $30,000

<u>Notes payable              $25,000</u>

<em>Total liabilities              $55,000</em>

    Stockholders' Equity

Common Stock           $120,000

<u>Retained earnings      $  47,000   </u>(Note - 2)

<em>Total stockholders' equity = $167,000</em>

Total liabilities & Stockholders' Equity = $222,000

<em>Note - 1:</em>

Sold investment's cost value calculation -

Selling price =           $15,000

<u>Less: Gain on sale = ($3,400)</u>

Cost price = $11,600

Investment during 2019 =             $32,000

<u>Sale of Investment (book value)    $11,600 </u>

Remaining value of Investment = $20,400

<em>Note - 2:</em>

Beginning                              $23,200

Add: Net Income                   $32,000

<u>Less: Dividend                       ($8,200)</u>

Ending retained earnings  = $47,000

Requirement C

1. Cash flow to net income ratio:

It shows how much cash flows from operating activities during the year over a specific net income.

We know, Cash flow to net income ratio = \frac{Cash flow from operating activities}{Net Income}

Cash flow to net income ratio = \frac{19,200}{32,000}

Cash flow to net income ratio = 60%

2. Operating cash flow ratio:

It shows how much cash flows from operating activities during the year from the use of current liabilities.

We know, Operating Cash flow ratio = \frac{Cash flow from operating activities}{Current liabilities}

Operating Cash flow ratio = \frac{19,200}{30,000}

Operating Cash flow ratio = 64%

Note: Here, accounts payable is the only current liabilities as notes payable has a long-term value.

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What is expected of a new salon employee and what are two things you must do every day? 2. What are six habits of a good team pl
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Answer:

1.

As an employee working for a salon, it is necessary to have understandings and skills related to this job. They should have hair care skills to provide services for customers such as: washing, cutting, dyeing, etc. In addition, they also need to have good working attitude, which includes being on time for their shifts, being friendly, respectful to the customers. As a service provider, they should also be customer-oriented, which means prioritize the benefits of customers.

2.

A good team player is the one who have both good individual skills and the team-oriented attitude as well. So that they tend to have these habits:

+) The first one is they need to strive to help. This reflects their attitude to contribute as a team and help each other rather than just look for personal achievement.

+) Second one is to pitch in, start doing something as a group, put the responsibility for and the benefit of the whole group on top.

+) The next one is share your knowledge. Sometimes, in a group, the field of understanding of each member is different. It is necessary to share the knowledge to assure that other people can also understand what you gonna do to have appropriate adjustment or support if necessary. This can also help team members all gain.

+) The fourth one is to have positive mind. The more optimistic and future-focused a member the better they perform at work. And this attitude also helps lift the enthusiasm as well.

+) The fifth one is being willing to resolve conflict. As conflicts are unavoidable in team work due to the difference in many aspects of people. A good team player tends to be more willing to resolve conflict as it could affect the work efficiency.

+) The last one is to be willing to be subordinate and loyal. This could help remain the team spirit well and make a team player become a good listener. Even when they are wrong or have no idea, it is essential that they are willing to be subordinate rather than just want to lead everything.

3.

Three most common methods of salon compensation could be salary, commission, and salary plus commission.

Salary is the fixed amount that the employees receive when fulfilling all of their duties. The job and salary are usually discussed and accepted by both sides before they start working.

The commission is the money the employees receive, which is calculated by the level of completion of the job.

Salary plus commission are used when the employees can earn sales or create added value to the business of the firms - which is higher than the required level of their duties.

4.

Five principles of selling salon products and services are:

+) First, be familiar and have understanding about each product's feature, benefits, effect as well as the other services. This is to assure that they can sell and recommend the right one that the customers need.

+) Second, try to adapt the technique to meet the needs of each client. The clients demand and personality varies so that their needs are different, for example some are willing to have more recommendation to buy, some are easily confused and uncomfortable instead.

+) The third one is asking questions determining the need to generate the customer's interest in products or services.

+) The fourth one is never underestimate the client's knowledge. Despite the fact that there are still customers do know much about beauty knowledge, you should never assess it and try to show your respect to the customer's understanding.

+) The last one is keeping relaxed and friendly manner when having a sales talk. This could make the conversation more comfortable and please the client.

5.

To expand the client base, you should focus much on the customer services and try to deliver the value to the customers. This can be enacted in these ways:

+) Membership: Provide frequent customers with membership to obtain added benefits.

+) Provide consistently great services and products in all aspects, not focus on particular things.

+) Be respectful to the customers and each other within the business.

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+) Be positive as people are always moving towards and attracted by the enthusiasm and optimism.

+) Focus on making the salon image reliable to keep the repeat customers.

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3 years ago
Suppose a small business has sales of $14,000 this month, with future sales expected to grow by $1,300 each month. Costs consist
jeyben [28]

Answer:

Please check the attachment to this document to get the excel sheet

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Explanation:

Please check the attachments of this post and download the excel sheet.

Best of luck

Download xlsx
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3 years ago
Tanner is choosing between two​ mutually-exclusive investment options. These options have absolutely no​ risk, and Tanner can al
Reika [66]

Answer:

D) Tanner should be indifferent between the two investments, since both are equivalent to the same amount of cash today.

Explanation:

Here are the options to this question:

A) $531.40 later today, since $1 today is worth more than $1 in one year.

B) $550 in one year, since it is $50 more than he invested rather than $31.40 more than he invested.

C) Neither - both investments have a negative NPV.

D) Tanner should be indifferent between the two investments, since both are equivalent to the same amount of cash today.

Net present value is the present value of after tax cash flows from an investment less the amount invested.

NPV can be calculated using a financial calculator:

For the first option:

Cash flow in year 0 = $500

Cash flow in year 1 = $550

I = ​ 3.5%

NPV = $31.40

For the second option:

NPV = $631.40 - $600 = $31.40

The npv of both options are equal and postive. So, Tanner should be indifferent between the options.

To find the NPV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

5 0
4 years ago
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