VC
Vanessa Crawford
Answers (6)
VC
Answered
Which of the following is not an operating asset?
A) inventory.
B) investment in another company.
C) cash.
D) plant equipment.
A) inventory.
B) investment in another company.
C) cash.
D) plant equipment.
On Jul 26, 2024
B
VC
Answered
In a perpetual inventory system, when merchandise is returned to the supplier, Cost of Goods Sold is debited as part of the transaction.
On Jul 24, 2024
False
VC
Answered
What is subliminal perception? Give a famous example of when this was supposedly demonstrated.
On Jun 26, 2024
Subliminal perception is the perception of stimuli below the level of consumer consciousness.
Examples may vary. For example:
In one well-known example, an experiment was performed at a New Jersey drive-in movie theatre in September 1957. During a showing of the movie Picnic, a firm called the Subliminal Projection Company inserted messages that said "Drink Coca-Cola" and "Eat Popcorn" for 1/3000 second every five seconds. This rate was too fast for viewers to be aware that they had seen the images. Supposedly, sales of popcorn increased by almost 20 percent and consumption of Coke by almost 60 percent. These claims created an uproar as journalists and social critics expressed fears that social scientists would team up with advertisers to invade privacy and control consumers against their will. As one magazine put it at the time, consumers' minds had been "broken and entered." This experiment was never replicated and the executive responsible for the test later admitted that he had made up the results.
Examples may vary. For example:
In one well-known example, an experiment was performed at a New Jersey drive-in movie theatre in September 1957. During a showing of the movie Picnic, a firm called the Subliminal Projection Company inserted messages that said "Drink Coca-Cola" and "Eat Popcorn" for 1/3000 second every five seconds. This rate was too fast for viewers to be aware that they had seen the images. Supposedly, sales of popcorn increased by almost 20 percent and consumption of Coke by almost 60 percent. These claims created an uproar as journalists and social critics expressed fears that social scientists would team up with advertisers to invade privacy and control consumers against their will. As one magazine put it at the time, consumers' minds had been "broken and entered." This experiment was never replicated and the executive responsible for the test later admitted that he had made up the results.
VC
Answered
_____,a type of plan for meeting objectives,generally cover periods ranging from one year or longer.
A) Functional plans
B) Tactical plans
C) Static plans
D) Operational plans
E) Strategic plans
A) Functional plans
B) Tactical plans
C) Static plans
D) Operational plans
E) Strategic plans
On Jun 24, 2024
E
VC
Answered
On August 1, Silver Company exchanged a machine for a similar machine owned by Wrangler Company and also received $7, 000 cash from Wrangler Company.Silver's machine had an original cost of $70, 000, accumulated depreciation to date of $34, 500, and a fair market value of $60, 000.Wrangler's machine had a book value of $45, 000 and a fair value of $53, 000.
Required:
Prepare the necessary journal entry by Silver Company to record this transaction assuming
a. Siver will use the newly acquired machine in the same manner as the old one.
b. Silver's use of the new machine will be substantially different from the old one.
Required:
Prepare the necessary journal entry by Silver Company to record this transaction assuming
a. Siver will use the newly acquired machine in the same manner as the old one.
b. Silver's use of the new machine will be substantially different from the old one.
On May 26, 2024
a.
Cash 7,000 Equipment ($35,500−$7,000)28,500 Accumulated Depreciation-Equipment 34,50070,000\begin{array}{lll}\text { Cash } & 7,000 & \\\text { Equipment }(\$ 35,500-\$ 7,000) & 28,500 & \\\text { Accumulated Depreciation-Equipment } & 34,500 \quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad& 70,000\end{array} Cash Equipment ($35,500−$7,000) Accumulated Depreciation-Equipment 7,00028,50034,50070,000
b.
Cash 7,000 Equipment ($60,000−$7,000)53,000 Accumulated Depreciation-Equipment 34,500 Equipment 70,000 Gain [$60,000−($70,000−$34,500)]24,500\begin{array}{lll}\text { Cash } & 7,000 & \\\text { Equipment }(\$ 60,000-\$ 7,000) & 53,000 & \\\text { Accumulated Depreciation-Equipment } & 34,500 \\& \text { Equipment } & 70,000\\&\text { Gain }[\$ 60,000-(\$ 70,000-\$ 34,500)]&24,500\end{array} Cash Equipment ($60,000−$7,000) Accumulated Depreciation-Equipment 7,00053,00034,500 Equipment Gain [$60,000−($70,000−$34,500)]70,00024,500
Cash 7,000 Equipment ($35,500−$7,000)28,500 Accumulated Depreciation-Equipment 34,50070,000\begin{array}{lll}\text { Cash } & 7,000 & \\\text { Equipment }(\$ 35,500-\$ 7,000) & 28,500 & \\\text { Accumulated Depreciation-Equipment } & 34,500 \quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad& 70,000\end{array} Cash Equipment ($35,500−$7,000) Accumulated Depreciation-Equipment 7,00028,50034,50070,000
b.
Cash 7,000 Equipment ($60,000−$7,000)53,000 Accumulated Depreciation-Equipment 34,500 Equipment 70,000 Gain [$60,000−($70,000−$34,500)]24,500\begin{array}{lll}\text { Cash } & 7,000 & \\\text { Equipment }(\$ 60,000-\$ 7,000) & 53,000 & \\\text { Accumulated Depreciation-Equipment } & 34,500 \\& \text { Equipment } & 70,000\\&\text { Gain }[\$ 60,000-(\$ 70,000-\$ 34,500)]&24,500\end{array} Cash Equipment ($60,000−$7,000) Accumulated Depreciation-Equipment 7,00053,00034,500 Equipment Gain [$60,000−($70,000−$34,500)]70,00024,500
VC
Answered
Overbearing,Inc. ,which manufactures ball bearings,has built up a network of wholesale dealers.Under agreements between Overbearing and various dealers,each dealer has an established geographical territory of operation.These agreements also call for the individual dealers not to compete in another Overbearing dealer's exclusive territory.An appropriate plaintiff has sued Overbearing on the theory that these agreements violate Section 1 of the Sherman Act.What treatment will the court give the agreements? Why? Under that treatment,is it possible for Overbearing to avoid liability even if the plaintiff establishes the existence of the agreements? If so,how?
On May 25, 2024
Because the agreements are vertical restraints on distribution,the court will give them rule of reason treatment.This means that the agreements may or may not violate Section 1,depending upon the facts.Unlike the results of the per se approach (under which proof of the subject behavior conclusively establishes a violation),the plaintiff's proof that the defendant(s)engaged in behavior receiving rule of reason treatment does not necessarily mean that the behavior violated Section 1.Because the rule of reason approach applies here,Overbearing will be given an opportunity to offer justifications for the vertical restraints on distribution.A party in Overbearing's position normally will attempt to show that any harm to intrabrand competition (i.e. ,competition among dealers of Overbearing ball bearings)resulting from the agreements is outweighed by the benefits to interbrand competition (i.e. ,competition between dealers of Overbearing ball bearings and dealers of other companies' ball bearings).