The process of defining the objectives of a company and then developing a method to achieve those objectives is known as:<u> Strategic planning</u>.
<h3>What is Strategic planning?</h3>
Strategic planning can be defined as the process of setting up an objectives or goals and then planning how to achieve the sets objectives and goals.
A company or an organization that want to achieve their future goals must tend to make use of Strategic planning.
Therefore The process of defining the objectives of a company and then developing a method to achieve those objectives is known as:<u> Strategic planning</u>.
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Answer:
$330,846
Explanation:
The computation of the the revised break even point in dollars is shown below:
= (Fixed cost ) ÷ (Profit volume ratio)
where,
Fixed cost = $163,200 + $8,840
= $
172,040
And the profit volume ratio would be
= (Contribution margin) ÷ (Sales) × 100
where Contribution margin equal to
= Selling price per unit - variable cost per unit
= $70 - $28 + $5.60
= $36.4
So, the profit volume ratio is
= ($36.40) ÷ ($70)
= 52%
So, the revised break point in dollars is
= ($172,040) ÷ (52%)
= $330,846
Answer:
there are a large number of people working in the underground economy.
Explanation:
The unemployment rate is the rate of people in the labour force that is without a job but they are actively looking for employment
Types of unemployment
structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent.
Frictional unemployment: the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Eg. when a real estate agent who leaves a job in Texas and searches for a similar, higher-paying job in California.
Voluntary unemployment: e.g. worker at a fast-food restaurant who quits work and attends college.
Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
If a large number of people are working underground, they would not be counted as part of the labour force and so the labour force would be smaller. This understates unemployment rate
Answer:
B. $214,000
Explanation:
The insurance premium paid for a 3 year period should not have been expensed out rightly but recognized as expense through periodic amortization spread over the entire period.
As such, the amount that should have been expensed in 2011 for insurance premium is
= 1/3 × $30,000
= $10,000
Recognizing an expense of $10,000 rather than $30,000 would have resulted in an increase in the tax expense by
= 70% × ($30,000 - $10,000)
= $14,000
As such, the retained earnings would have been
= $200,000 + $14,000
= $214,000
The overstatement of an expense would have resulted in an understatement of net income and thus and understatement of the retained earnings.
Answer:
Anderson Co. 3,100 shares at $18 per share
Munter Ltd. 10,200 shares at $57 per share
King Co. 5,600 preferred stock at $42 per stock
a. Prepare the entry for the security sale on January 15, 2021.
- Dr Cash 58,880
- Cr Investment in Anderson Co. stock AFS 52,200
- Cr Realized gain on stock AFS 6,680
b. Prepare the journal entry to record the security purchase on April 17, 2021.
- Dr Investment in Castle's stock AFS 38,160
- Cr Cash 38,160
c. Compute the unrealized gains or losses.
- unrealized gain = $40,800 (gain in Munter) - $11,200 (loss in King) - $13,960 (loss in Castle) = $15,640
d. Prepare the adjusting entry for Vaughn on December 31, 2021.
- Dr Investment in Munter's stock 40,800
- Cr Investment in King's stock 11,200
- Cr Investment in Castle's stock 13,960
- Cr Unrealized gain - other comprehensive income 15,640