Explain five key differences between a Sales Representative and
a Key Account Manager. Focus in the areas of Lead Generation,
Customer Relationship, Sales Strategy, Teamwork, and Accountability
to top
Answers
Key differences between a Sales Representative and a Key Account Manager in areas of Lead Generation, Customer Relationship, Sales Strategy, Teamwork, and Accountability are discussed below.
Sales Representative and Key Account Manager are two important roles in an organization. Though both roles are closely associated with sales, they differ in many ways. Following are the five key differences between Sales Representatives and Key Account Managers.
Lead Generation:
Sales representatives mainly focus on identifying potential customers and lead generation. They do this by cold calling or door-to-door selling, online research, marketing campaigns, and other strategies.
Key account managers primarily focus on lead nurturing and developing relationships with existing customers.
Customer Relationship:
Sales representatives generally have multiple customers with whom they interact with. Their role is to convince them to purchase the company's products or services. They often maintain a transactional relationship with customers, which is short term.
Key account managers, on the other hand, deal with important clients. They work on building long-lasting relationships with clients to ensure that they become loyal customers and repeat business. They maintain a relationship that is strategic and client-centric.
Sales Strategy:
Sales representatives typically use an out-of-the-box approach to persuade potential customers. They focus on persuading the customer to buy the products or services without customization.
Key account managers, however, tailor their sales approach to meet the needs of their clients. They use a more personalized approach, focusing on building relationships that increase customer satisfaction.
Teamwork:
Sales representatives usually work independently and manage their own work. The role of a key account manager is highly collaborative, which includes working with sales representatives, product managers, and support staff. They play an important role in leading the team towards achieving a common goal.
Accountability:
Sales representatives are accountable for closing the deal. They are held responsible for their individual sales target, and management tracks their sales performance.
Key account managers are responsible for the overall success of the relationship with clients, which includes increased business, client satisfaction, and customer loyalty. They are accountable for a larger group of clients and more significant business growth.
Key differences between a Sales Representative and a Key Account Manager in areas of Lead Generation, Customer Relationship, Sales Strategy, Teamwork, and Accountability are discussed above.
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Related Questions
Forge Company, a calendar-year entity, had 6,000 units in its beginning inventory for 20X8. On December 31, 20X7, applying the lower-of-cost-or-market (NRV) principle, the units had been adjusted down to $470 per unit from an actual cost of $510 per unit. It was the lower of cost or market (NRV). No additional units were purchased during 20X8. The following additional information is provided for 20X8:
Answers
The required NRV or Net Relizable Value
In 1st quarter,
Cost = 470, mkt = 455
In 2nd quarter,
Cost = 455, mkt = 480
Total year,
Cost = 470, mkt = 455
What is NRV value ?
The value for which an asset can be sold minus the projected costs of selling or disposing the asset is known as net realizable value (NRV). The calculation of the value of ending inventories or accounts receivable frequently uses the NRV.Under the International Financing Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), the net realizable value is a crucial metric in inventory accounting (IFRS). Because it prevents the overvaluation of the assets, NRV computation is crucial.Cost of goods sold = opening inventory + cost of goods purchased - ending inventory
First quarter = (6000 x 470) - (4800 x 455)
= 2820000 - 2184000
= $ 636,000
Second quarter = (4800 x 455) - (4000 x 455)
= 2184000 - 1820000
= $ 364,000
20X8 = (6000 x 470) - (2000 x 455)
= 2820000 - 910000
= $ 1, 910, 000
NRV or Net Relizable Value
In first quarter,
Cost = 470, mkt = 455
In second quarter,
Cost = 455, mkt = 480
Total year,
Cost = 470, mkt = 455
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The required NRV or Net Realizable Value
In 1st quarter,
Cost = 470, mkt = 455
In 2nd quarter,
Cost = 455, mkt = 480
Total year,
Cost = 470, mkt = 455
The value for which an asset can be sold minus the projected costs of selling or disposing of the asset is known as net realizable value (NRV).Calculating the value of ending inventories or accounts receivable frequently uses the NRV.Under the International Financing Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), the net realizable value is a crucial metric in inventory accounting (IFRS). Because it prevents the overvaluation of the assets, NRV computation is crucial.Cost of goods sold = opening inventory + cost of goods purchased - ending inventory
First quarter = (6000 x 470) - (4800 x 455)
= 2820000 - 2184000
= $ 636,000
Second quarter = (4800 x 455) - (4000 x 455)
= 2184000 - 1820000
= $ 364,000
20X8 = (6000 x 470) - (2000 x 455)
= 2820000 - 910000
= $ 1, 910, 000
NRV or Net Relizable Value
In first quarter,
Cost = 470, mkt = 455
In second quarter,
Cost = 455, mkt = 480
Total year,
Cost = 470, mkt = 455
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Grant started a business this year. He earned $200,000 in revenues and had $150,000 in expenses. His other alternative would have been to go back to his old job, where he earned $70,000. What are Grant's "true" profits from his business
Answers
Answer:
Profit from the business = $50000.
Explanation:
Total revenue from the business = $200000
The total cost that occurred in business = $150000
Now we have to calculate the true profit from the business. So, it can be calculated by subtracting the total cost from the total revenue.
Below is the formula to find the profit.
Profit = total revenue – total cost
Now insert the given values in the formula.
Profit from the business = $200000 - $150000
Profit from the business = $50000
The amount of Grant's "true" profits from his business is $50000. Profits are termed as the total revenues that the firm earns on selling the produced goods and services.
Given information are:
Total revenue from the business = $200000
The total cost that occurred in business = $150000
Computation of profit:
Profit = Total Revenue- Total Cost
Profit = $200000- $150000
Profit = $50000
Therefore, the amount of profit the company earned is $50000.
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Economists assume that people are rational in the sense that.
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under federal and state law, a patient may only view their medical record once they have been discharged from the hospital. true or false
Answers
False. Under federal and state laws, patients generally have the right to access their medical records at any time, not just after being discharged from the hospital.
The Health Insurance Portability and Accountability Act (HIPAA) grants individuals the right to request and obtain copies of their medical records from healthcare providers. However, there may be certain procedures and protocols in place to ensure the privacy and security of the records and to facilitate the proper handling of requests. A patient is an individual who seeks medical care and treatment from healthcare professionals. In the context of healthcare, patients play a central role as recipients of medical services and participants in their own healthcare decisions. Patients have certain rights, such as the right to receive quality care, access to their medical records, informed consent, and privacy. They also have responsibilities, including providing accurate medical information, following treatment plans, and actively participating in their own health management. Effective communication, trust, and collaboration between healthcare providers and patients are crucial for ensuring optimal healthcare outcomes and patient satisfaction. Patients' experiences, needs, and preferences should be respected and considered throughout the healthcare process.
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ECONOMICS!HELP!!!!!!!
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which of the following most accurately describes an 2 cfr part 200.425(2) audit?
Answers
It is an annual audit of an organization that receives over a certain threshold of federal funds each year.
The annual audit is only a check cycle of your organization's financial systems and proclamations. The auditor will take a gander at the exactness of the numbers and the cycles and let you know as to whether interior control steps ought to be taken to assist with safeguarding your organization against extortion.
Albeit the audit may now and again be troublesome and meddlesome, your participation in providing the required data will contribute enormously to the speed with which auditors can go about their responsibilities.
The annual audit can be a costly endeavor, both in worker time and company cash. Be that as it may, the audit can be a greater amount of a venture than a cost on the off chance that auditors are allowed to examine and assess records and techniques, as opposed to plan bookkeeping type plans. This can be accomplished exclusively through planning, coordination and collaboration among the groups engaged with the audit.
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You are the manager of GemStone, a company which produces sparkling water. You obtain information that there has been a disruption in the global supply chain of aluminum, an input for your product, causing a shortage. Additionally you learn that there has been a shock to the economy which will result in large layoffs and increasing unemployment. Knowing that your product is a normal good, and assuming that the market for sparkling water is perfectly competitive and currently in equilibrium, what can you infer?Equilibrium quantity will increase for sure.Equilibrium price will increase for sure.Equilibrium quantity will decrease for sure.Equilibrium price will decrease for sure.
Answers
Based on the given information, we can infer that the disruption in the global supply chain of aluminum, coupled with the shock to the economy resulting in layoffs and increasing unemployment, will have an impact on the equilibrium quantity and equilibrium quantity will decrease for sure and equilibrium price of sparkling water will increase for sure.
Since sparkling water is a normal good, a shock to the economy leading to layoffs and rising unemployment indicates a decrease in consumers' disposable income. As a result, consumers may reduce their overall demand for goods, including sparkling water. This decrease in demand can lead to a decrease in the equilibrium quantity of sparkling water in the market.
Furthermore, the disruption in the global supply chain of aluminum causing a shortage of the input required for producing sparkling water can result in an increase in production costs for manufacturers. As the cost of production increases, producers may either reduce their supply or pass on the increased costs to consumers by raising the price of sparkling water. This can lead to an increase in the equilibrium price of sparkling water in the market.
Therefore, based on the given information, we can infer that the equilibrium quantity of sparkling water is likely to decrease, and the equilibrium price is likely to increase. The decrease in demand due to the economic shock and the increase in production costs due to the disruption in the supply chain contribute to these changes in the equilibrium quantity and price of sparkling water.
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emily is a loan officer for a bank and is reviewing the financial statements of a prospective borrower. as a user of accounting information, emily is most interested in using this information to:
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Emily, as a loan officer for a bank, is most interested in using the financial statements of a prospective borrower to assess their creditworthiness and determine their ability to repay the loan.
Financial statements provide a comprehensive overview of a borrower's financial position, including their assets, liabilities, income, and expenses. By reviewing these statements, Emily can evaluate the borrower's financial health, stability, and capacity to meet their financial obligations.
Firstly, Emily examines the balance sheet to assess the borrower's assets and liabilities. This helps her gauge the borrower's net worth, liquidity, and leverage. A strong asset base and manageable debt levels indicate a lower risk of default, increasing the likelihood of loan approval.
Secondly, Emily analyzes the income statement to assess the borrower's revenue, expenses, and profitability. This information helps her evaluate the borrower's ability to generate sufficient income to meet their financial obligations, including the loan repayment. A stable and consistent income stream enhances the borrower's creditworthiness.
Lastly, Emily reviews the statement of cash flows to understand the borrower's cash inflows and outflows. This allows her to assess the borrower's liquidity, ability to manage their cash flow, and fund their loan repayment.
By utilizing these financial statements, Emily can make an informed decision regarding the prospective borrower's creditworthiness. This assessment helps minimize the bank's risk and ensures responsible lending practices.
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Analyze why the scenario below fails to meet the criteria for a SWOT analysis:
The farming co-op determines that it needs to borrow $100,000 for new equipment to plant cherry orchards. The FFA (Future Farmers of America) is eager to help with the planting. However, the price of farmland has increased astronomically in the past five years as suburbanites have moved farther into the country.
Answers
Answer:
i am looking for it.
Explanation:
What is added to the price of goods and services at the time of purchase?
Answers
Answer:
VAT
Value Added Tax
______________'_''
Which of the following set is correctly depicting the same type of production: I. bridges, fishing, rum II. Hotel worker, processed coffee, sugar
III. furniture, clothing, roadway IV. all the above
Answers
Each sector of the economy involves a different type of production process.
Which of the following set is correctly depicting the same type of production?The correct set that is depicting the same type of production is set II, which includes hotel worker, processed coffee, and sugar.
In set II includes hotel workers, processed coffee, and sugar. Hotel workers are part of the service sector, which involves providing intangible goods and services such as hospitality, entertainment, and transportation. Processed coffee and sugar are part of the manufacturing sector, which involves the transformation of raw materials into finished goods for consumption. These items are all related to the same sector of the economy, which is the service and manufacturing sector.
In contrast, set I includes a mix of production types. Bridges are part of the construction sector, fishing is part of the primary sector (which involves extracting natural resources), and rum is part of the manufacturing sector. These items are not related to the same type of production.
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what is the correlation coefficient (r) between the age of a bus and annual maintenance cost?
Answers
The correlation coefficient (r) between the age of a bus and annual maintenance cost is a measure of the strength and direction of the linear relationship between the two variables.
The value of r can range from -1 to 1, with -1 indicating a perfect negative correlation, 1 indicating a perfect positive correlation, and 0 indicating no correlation at all. To calculate the correlation coefficient, we can use the formula:
r = (Σ(xy) - (Σx)(Σy)/n) / √[(Σx^2 - (Σx)^2/n)(Σy^2 - (Σy)^2/n)]
Where x and y are the two variables, n is the number of data points, and Σ represents the sum of the values.
Once we have calculated the correlation coefficient, we can interpret the results to determine the strength and direction of the relationship. A correlation coefficient close to 1 indicates a strong positive relationship, while a correlation coefficient close to -1 indicates a strong negative relationship. A correlation coefficient close to 0 indicates that there is no linear relationship between the two variables.
In the case of the age of a bus and annual maintenance cost, we would expect to see a positive correlation, as older buses typically require more maintenance and therefore have higher annual maintenance costs. However, the strength of the correlation would depend on the specific data points and would need to be calculated using the formula above.
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The need for electrical craft workers
A. Is centered around Industrial electricians
B. Has peaked and will not need future workers
C. Continues to grow
D. Is limited to commercial electricians
Answers
The need for electrical craftworkers continues to grow. Option (c) is correct.
What do you mean by electrical craftworkers?An Electrical craftworker assists a skilled journey-level worker engaged in one of the electrical trades.
Electrical craft work involves the maintenance and construction of electrical systems for construction and facilities installation and maintenance of overhead or underground power distribution systems or shop repair activities. Apprentice training possibilities leading to craft perspectives are available in some departments.
Therefore, Option (c) is correct.
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true or false?
websites are a good place to research companies before an interview
Answers
the answer is true
Explanation:
because sometimes other people can said that it is good or bad. so you can see if it is good or bad
Answer:
I would believe that this is true.
Explanation:
Especially now In the 21st century, we use the internet for a lot of things, and for good reason too. Websites are a great place to start off looking before an interview. Hope this helps!
The fed can supply funds to the markets in the case of a financial panic because:__________
Answers
The fed can supply funds to the markets in the case of a financial panic because they are the lender of last resort.
What is markets?
The term “market” refers to the exchange of commodities and services. A market mainly involves the buyer and seller. Types of markets, such as perfect competition, monopoly markets, monopolistic competition, and oligopoly markets.
Financial panic of the condition as supply fund markets to fed as last option was of lender of last resort. The term lender of last resort define as loan of those banks are faced by the financial difficulties.
As a result, the condition of the financial panic are fund supply in the market there is last option is lender of last resort.
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What are customer needs?
Answers
Answer:
A customer need is a need that motivates a customer to purchase a product or service.
What is the best animal?
Answers
Answer: The answer is Dogs
Explanation: Dogs are the best animal because They're not just popular- historically, the symbiotic relationship between dogs and people helped both species survive.
How do robots help speed up the fulfillment of orders at some Amazon warehouses
Answers
Answer:
Robots help speed up the fulfillment of orders at some Amazon warehouses is explained below in complete details.
Explanation:
The business began computing technology to a few warehouses in recent years, which looks commodities coming down a conveyor belt and wraps them seconds later in cases custom-built for each item, two people who struggled on the project told us. Today, Amazon has more than 20,00000 portable robots operating inside its depot network, alongside numbers of thousands of human workers.
Type the correct answer in the box.
Identify the marketing research technique implied in the scenario.
A toothpaste manufacturing company has created a new ad for their product to air on television. After the ad airs, bcthey intend to show the ad to a certain
number of customers and then ask them for their feedback regarding the ad. This company is engaging in the _____________
market research technique.
Answers
The company is engaging in Customer behavior marketing research techniques.
Consumer Behavior
Consumer behavior refers to the study of consumers and the actions and the decision processes they use to purchase goods and services to satisfy their needs and wants, including emotional, mental, and behavioral responses
Types of
Complex buying behaviorDissonance-reducing buying behaviorHabitual buying behaviorVariety seeking behaviorHence, The company is engaging in Customer behavior marketing research techniques.
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so whos gonna help me with my family and consumer science finals :/
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If the marginal propensity to consume is 0. 75, then a $100 increase in investment will result in a maximum increase in equilibrium real gross domestic product of?.
Answers
If the marginal propensity to consume is 0. 75, then a $100 increase in investment will result in a maximum increase in equilibrium real gross domestic product of $400.00.
What is investment?
A purchase made with the intention of generating income or capital growth is known as an investment. An asset's value increasing over time is referred to as appreciation. When a person invests in a good, they do not intend to use it as a source of immediate consumption, but rather as a tool for future wealth creation. An investment always involves the expenditure of some resource today—time, effort, money, or perhaps an asset—in the anticipation of a future return greater than the initial investment. For instance, an investor might buy a financial asset right away with the hope that it will generate income later on or that it can be sold for a profit at a higher price.
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When have you demonstrated an entrepreneurial mindset? Describe this scenario and how you acted on new activities for creativity and growth.
Answers
The way that I demonstrated an entrepreneurial mindset is given below. I wrote it in a story format for better understanding.
What us entrepreneurial mindset?John worked at a large software company as a developer. However, he noticed that there was a significant gap in the market for an affordable project management tool for small businesses. John knew that he had the technical expertise to create a tool that would meet the needs of small businesses, so he decided to launch his own start-up.
John started by creating a prototype of his project management tool and conducting market research to identify his target market. He then used his entrepreneurial mindset to drive creativity and growth by developing new features, conducting user testing, and continually refining his product. He also worked on building relationships with potential customers and investors.
Therefore, Through hard work and dedication, John's start-up grew rapidly, and he was able to secure funding to hire a small team of developers to help him scale the product. Ultimately, John's entrepreneurial mindset helped him to identify a gap in the market, develop a solution to meet that need, and grow a successful business from scratch.
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According to the concept of the invisible hand, what emerges due to the self-interested
choices of buyers and sellers in a free market?
Answers
Answer: The invisible hand is a metaphor for how, in a free market economy, self-interested individuals can promote the general benefit of society at large.
Question 4 Use the job advertisement in Question 3 and answer the questions that follow: You have been told that a panel of three people will interview you. These people are the organisation's human resources (HR) manager, the manager of the specific department in which you would be working, and a colleague from another department. Write the interview script (750-1 000 words) of the job interview that would take place for this scenario. Note: Your lecturer will not mark beyond the 1 000-word limit. NB-Your interview script must: be structured according to the table template provided below. Copy and complete the provided table as your response to Q.4 in your assignment submission; clearly progress through the specific phases of a job interview, in order; include at least three open questions from the interview panel, and your relevant responses to them; include at least three closed questions from the interview panel, and your relevant responses to them; include at least three follow-up questions from the interview panel, and your relevant responses to them; use specific details from your selected job position, your email from Q.3, as well as the relevant theory from the textbook/Learn as context for the questions and your responses. Make sure you accurately reference all sources used within the interview script; be written in an appropriate language, tone, and style. ● ● ● (Marks: 30) Interview script template: HR Manager (Your full name) HR Manager Welcome, Mr/Ms (your full name). We are so happy to meet you and to have the opportunity to speak more with you today. We were all very impressed by your CV and application letter. Thank you, I am really glad to be here. Please call me (x). Great no problem, (x). Let me begin by introducing you to the interview panel.
Answers
Role-play dialogue table:
Interview script for job position: Accounting and Finance Officer
Apply for August 2021
Interview date: 15 August 2021
Participants: Interview panel: Human Resources Manager
Department Manager
Colleague from Marketing department
Candidate: (Your full name)
0-5 minutes: Welcome and introductions
HR Manager: Welcome, Mr/Ms (your full name). We are so happy to meet you and to have the opportunity to speak more with you today. We were all very impressed by your CV and application letter.
Thank you, I am really glad to be here. Please call me (x). Great no problem, (x). Let me begin by introducing you to the interview panel. To your right is the Finance department manager, Mr. Singh. To your left is Ms. Bokanga from the Marketing department.
5-10 minutes: Why are you interested in this role and company?
Department Manager: Thanks for meeting with us today, (x). Can you tell us more about why you're interested in this Accounting and Finance Officer role at our company?
I have always been passionate about accounting and finance. I believe this role offers the perfect opportunity to utilize my skills and experience to help manage the finances of a fast-growing company like yours. I am excited by the prospect of working with cutting-edge technologies and strategic business partners to streamline processes and gain key insights to drive business decisions. I see enormous potential for growth and advancement in a role such as this.
[The interview continues with more questions and answers as per the table template...]
The interview wrap-up concludes around 30-40 minutes. Let me know if you need any clarification or have additional questions. I look forward to hearing from you about next steps in the process.
Thank you again for your time today, I appreciate your consideration of my application and I look forward to speaking with you again soon.
Kruger Heavy Machine Inc. has an opening cash balance of $2,000. During the year, it purchased raw materials worth $5,000, sold goods worth $10,000, and paid office rent of $4,000. What is the company’s closing cash balance that it will carry forward into the next year?
A.
$9,000
B.
$3,000
C.
$7,000
D.
$6,000
Answers
Answer:
the answer is B. $3,000
Explanation:
basically you do
2000-5000= -3000
-3000+10,000=7000
7000-4000=3000
Describe an invention that you want to invent. Why is it important to get it patented? (respond in 3 or more sentences)
Answers
An invention that I want to want to invent is an application that helps to detect cancer early and can be used at home and office.
The important reason to get it patented so that no one can claim ownership or copy it as their own innovation.
What is patent all about?A patent is seen as a priceless corporate asset and a crucial commercial instrument that may be applied in a variety of ways. There are several reasons why you might decide to submit a patent application, including:
In acquiring exclusive rights such that a patent gives you a 20-year monopoly over the invention.Filing a patent for an innovation that might not be commercialized is a defensive step meant to stop a rival from defending the same idea.To strengthen your position in the market, you can stop others from exploiting your patented idea for commercial purposes by securing exclusive rights. This will position you as the key player in the industry.Therefore, You have the right to prevent others from copying, producing, selling, or importing your innovation without your consent if you have a patent.
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$35,000 is borrowed for 8 years at 3.1% p.a.
a. Calculate the amount to be repaid if the interest is compounded quarterly.
b. Calculate the amount of interest paid.
Answers
Answer:
Amount $44,808.24; Interest $9,808.24
Explanation:
The formula for calculating compound interest is as follows
FV = PV × (1+r)^n
in this case ,
Fv = future value
Pv = 35,000,
r = 3.1 % ,
n = 8years
Interest is compounded 4 time per year.
r will be 3.1% divided by 4 and n = 8 multiplied by 4
Fv = $35,000 x (1 + 3.1%/4 ) ^ 32
Fv = $35,000 x ( 1+ 0.0075) ^ 32
Fv = $35,000 x 1.280
Fv= $44,808.24
Interest paid will be amount after 8 year minus the principal
= $44,808.24- $35,000
=$9,808.24
the data analysis procedure that focuses on analyzing what items are bought during a single shopping occasion is called
Answers
The data analysis procedure that focuses on analyzing what items are bought during a single shopping occasion is commonly referred to as "market basket analysis" or "transactional analysis."
Market basket analysis is a technique used to uncover associations and patterns in consumer purchasing behavior by examining the combinations of products that customers tend to buy together in a single transaction. It is often used in retail and e-commerce industries to understand customer preferences, optimize product placement, and make recommendations for cross-selling or upselling. Transactional analysis is a psychoanalytic theory and therapeutic approach developed by Eric Berne. It focuses on understanding and improving communication and relationships. The theory proposes that people have three ego states—Parent, Adult, and Child—and interactions occur through transactions. Transactional analysis aims to identify and analyze these transactions to uncover patterns, roles, and dynamics within relationships. It provides tools to recognize and modify unhealthy patterns, enabling individuals to improve their communication skills, develop self-awareness, and enhance interpersonal relationships. Transactional analysis has applications in counseling, coaching, and organizational development, promoting personal growth, and fostering healthier interactions and emotional well-being.
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On March 1, 2021, Stratford Lighting issued 10% bonds, dated March 1, with a face amount of $690,000. The bonds sold for $678,000 and mature on February 28, 2041 (20 years). Interest is paid semiannually on August 31 and February 28. Stratford uses the straight-line method and its fiscal year ends December 31.
1. Prepare the journal entry to record the issuance of the bonds by Stratford Lighting on March 1, 2021
2. Prepare the journal entry to record interest on August 31, 2021
3. Prepare the journal entry to accrue interest on December 31, 2021.
4. Prepare the journal entry to record interest on February 28, 2022
Answers
Answer:
1. March 1, 2021
Dr Cash $678,000
Dr Discount on bonds payable $12,000
Cr Bonds payable $690,000
2. August 31, 2021
Dr Bond interest expense $34,800
Cr Discount on bonds payable $ 300
Cr Cash $34,500
3. December 31, 2021
Dr Bond interest expense $23,200
Cr Discount on bonds payable $200
Cr Bond interest payable $23,000
4. February 28, 2022
Dr Bond interest payable $23,000
Dr Bond interest expense $11,600
Cr Discount on bonds payable $100
Cr Cash $34,500
Explanation:
1. Preparation of the journal entry to record the issuance of the bonds by Stratford Lighting on March 1, 2021
Dr Cash $678,000
Dr Discount on bonds payable $12,000
($690,000-$678,000)
Cr Bonds payable $690,000
(Being to record issuance of the bonds is recorded)
2. Preparation of the journal entry to record interest on August 31, 2021
Dr Bond interest expense $34,800
Cr Discount on bonds payable $ 300 ($12,000/20*6/12 )
Cr Cash $34,500
($690,000 × 10% × 6/12)
(Being to record interest )
3. Preparation of the journal entry to accrue interest on December 31, 2021.
Dr Bond interest expense $23,200
($23,000+$200)
Cr Discount on bonds payable $200
($12,000/20 × 4 /12)
Cr Bond interest payable $23,000
($690,000* 10%× 4/12)
(Being to record accrue interest is recorded)
4. Preparation of the journal entry to record interest on February 28, 2022
Dr Bond interest payable $23,000
($690,000* 10%× 4/12)
Dr Bond interest expense $11,600
[($34,500+$100)-$23,000]
Cr Discount on bonds payable $100
($12,000/20*2/12)
Cr Cash $34,500
($690,000 × 10% × 6/12)
(Being to record interest is recorded)
Nickelplate Manufacturing Corporation (NMC) is capitalized with 1 million shares of a 6% $50 par callable preferred stock and 10 million shares of $1 par common stock. With the preferred stock currently selling at $75 per share and the common stock at $60 per share, the current yield of the preferred stock is closest to
Answers
Explanation:
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When it comes to dividends, preferred shareholders have preference over common stockholders. Dividends can be paid monthly or quarterly and often yield more than regular stock.
What is preferred stock ?These dividends are frequently expressed as a percentage in the issuing description and can be fixed or set in terms of a benchmark interest rate like the London InterBank Offered Rate (LIBOR).
Participating shares have the ability to pay additional dividends that are calculated in terms of common stock dividends or the company's profits, and adjustable-rate shares specify certain elements that have an impact on the dividend yield. The board of directors of a firm has the discretion to decide whether to pay the dividend.
What is current yield of the preferred stock ?Calculation of Current Yield of preferred stock
Given in the
preferred stock = $ 50 per share
Dividend = 6% of $ 5 = $ 3
Current Sale Price = $ 75 per Share
\(Current Yield = Dividend / Current Selling Price *100\\ = $ 3 / $75 * 100\\ = 4%\)
Hence current yield of the preferred stock is closest to = 4 %
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