The Womens Rights Movement free essay sample

The beginning of the fight for women’s suffrage in the United States grew out of a larger women’s rights movement. The reform evolved in the 19th century emphasized a large spectrum of goals before focusing on securing the franchise for women. Women’s rights movements are concerned with making political, social and economic status of women equal to men and establish safeguards against discrimination. Just like any movement there were enemies, but in this case the enemy was not a foreign citizens or different cultures but the enemy was men. Early before 1849 the idea of a women’s rights movement came to the United States and many women decided to take a stand and they stood up against the men of the country to fight for their rights as American Citizens. In 1789, when the United States constitution went into effect only 60% of American citizens could vote. Those voters were wealthy white men that held a large sum of land. We will write a custom essay sample on The Womens Rights Movement or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page â€Å"Many white men and most African Americans, Native Americans, and women were excluded† (WB 4). During this time women were not considered equal as citizens and were not given the equal rights they deserved. At the time of this segregated suffrage the idea of women’s suffrage leaders came about. Women’s suffrage leaders would often disagreed about the tactics for their reform efforts and could never agree on how to start the movement. Ultimately, the suffrage movement provided political training for some of the early women pioneers in Congress, â€Å"but its internal divisions foreshadowed the persistent disagreements among women in Congress and among women’s rights activists after the passage of the 19th Amendment† (History, Art Archives). The idea of leaders and women’s rights conventions were only the beginning for the head strong women of the 19th century. In the United States the first definitive position on womens rights was taken in 1848 under the leadership of Elizabeth Cady Stanton at the Womens Rights Convention at Seneca Falls, N. Y. A social visit brought together Mott, Stanton, Wright, Mary Ann McClintock, and Jane Hunt. They began to plan their convention. The time had come, Stanton argued, for womens wrongs to be laid before the public, and women themselves must shoulder the responsibility. Before the afternoon was out, the women decided on a call for a convention to discuss the social, civil, and religious condition and rights of woman† (Seneca Falls). Around 100 people attended this convention in Seneca, 2/3’s being women and the other 1/3 we men. At the convention The Declaration of Sentiments was presented. The Declaration was modeled after the Declaration of Independence beginning with â€Å"We both hold truths to be self-evident, that all men are created equal.. † (WB 14). But in the Declaration of Sentiments they added that â€Å"all men and women are created equal; that they are endowed by their Creator with certain inalienable rights.. † (WB 14). Elizabeth Stanton got the job of creating this Declaration, she added eleven resolutions, making the argument that women had a natural right to equality in all spheres. â€Å"The ninth resolution held forth the radical assertion that it was the duty of women to secure for themselves the right to vote† (Seneca Falls). Some people believed that Stanton was foolish for attempting to gain so man equal rights for women but it did not stop them try to pass the Declaration. Before leaving the convention one hundred women and men signed the Seneca Falls Declaration. The Seneca Falls convention only marked the start of the women’s suffrage movement in the United States. All the women that attended the convention were not only concerned with the subject of voting but also improving women’s status in society. Women would march along the streets of their home towns caring banners and signs and â€Å"addressed social and institutional barriers that limited women’s rights; including family responsibilities, a lack of educational and economic opportunities, and the absence of a voice in political debates† (History, Art Archives). They pressed for a whole range of reforms including marriage and property rights. The women’s rights campaigners remained involved in the abolition movement and supported the Union side during the American Civil War (1861-1865). They welcomed constitutional amendments that ended slavery throughout the United States in 1865 and that gave slaves citizenship in 1868. Although the women were thrilled about the end of slavery they also so craved the idea of the end of women’s suffrage to be amended into the constitution. â€Å"In 1869 Elizabeth Stanton and American social reformer Susan B. Anthony formed the National Woman Suffrage Association to work for a women’s suffrage amendment to the Constitution† (KB 156). The NWSA, which was based in New York, relied on its statewide network but also drew recruits from around the nation, largely on the basis of the extensive speaking circuit of Stanton and Anthony. â€Å"Neither group attracted broad support from women, or persuaded male politicians or voters to adopt its cause† (History, Art Archives). The turning point for women’s suffrage came in the late 1880s and early 1890s, during the election of Carrie Chapman Catt, when the nation experienced a surge of volunteerism among middle class women, activists in progressive causes, members of women’s clubs and professional societies, temperance advocates, and participants in local civic and charity organizations. With the help of all of the volunteers the women of the United States got the whole country talking about equality and women’s suffrage. During this time the United States was expanding westward and quickly becoming industrialized. â€Å"Immigrants were pouring into American cities. More girls and women were attending American schools and colleges than ever before† (WB 22). But still life for women during this time was difficult and women could still not vote. All throughout the world women’s suffrage started to come to an end. In 1893 New Zealand granted women the right to vote, in 1908 women were gained the right to vote in Australia. The women in the United States knew about these great steps for women in other countries and began to become jealous. Four States had enfranchised women in the 1890’: Wyoming in 1890, Colorado in 1893, Idaho and Utah in 1896. Despite the huge efforts by suffragists, no political progress was made until 1910. â€Å"Between 1910 and 1914, the NAWSA intensified its lobbying efforts and additional states extended the franchise to women: Washington, California, Arizona, Kansas, and Oregon† (History, Art Archives). In Illinois Ruth Hanna McCormick helped lead the fight for suffrage as a lobbyist in Springfield, when the state legislature granted women the right to vote in 1913; this marked the first such victory for women in a state east of the Mississippi River. One year later Montana would grant women the right to vote. Although all of the progress with in states was helping women defend their cause the United States Government still had not passed a law. In 1913, Alice Paul, a young Quaker activist who had experience in the English suffrage movement, formed the rival Congressional Union. Her group freely adopted the more militant tactics of its English counterparts, picketing and conducting mass rallies and marches to raise public awareness and support. â€Å"Embracing a more confrontational style, Paul drew a younger generation of women to her movement, helped resuscitate the push for a federal equal rights amendment, and relentlessly attacked the Democratic administration of President Woodrow Wilson for obstructing the extension of the vote to women† (Scholastic). By the war outbreak it was easier for women to become international. There was faster transportation and communication systems that made it easier for women around the world to voice their opinion and share ideas. But still the most effect system was public speaking events. By 1916, The National Women’s Suffrage Association had 200,000 members and we granted voting rights in 11 states. But working for suffrage state by state was slow and demoralizing and took a lot out of the suffrage leaders. This is when Catt informed suffrage leaders that they needed to change their tactics so the suffrage leaders launched her â€Å"Winning Plan†. The â€Å"Winning Plan† strategy called for disciplined and relentless efforts to achieve state referenda on the vote, especially in non-Western states. â€Å"Key victories—the first in the South and East—followed in 1917 when Arkansas and New York granted partial and full voting rights, respectively† (History Art Archives). Catt launched a coordinated political campaign, and her winning plan worked. Under Catts dynamic leadership, NAWSA won the backing of the House and Senate, as well as state support for the amendments ratification. In 1917, New York passed a state woman suffrage referendum, and by 1918, President Woodrow Wilson was finally converted to the cause. The nineteenth amendment was â€Å"Passed by Congress June 4, 1919, and ratified on August 18, 1920, the 19th amendment guarantees all American women the right to vote† (National Archives). Achieving this milestone required a lengthy and difficult struggle. The victory took decades of agitation and protest. Beginning in the mid-19th century, with several generations of woman suffrage supporters lecturing, writing, marching, lobbying, and practicing civil disobedience to achieve what many Americans considered a radical change of the Constitution. And only a few early supporters lived to see the day. Although women in the United States finally won their victory they still were faced with many problems down the road. The suffrage movement created higher expectations for women. By the early twentieth century, women were able to attend college and to train for professions, although not in the same numbers as men. They began to enter male dominated professions like law, medicine, clergy and corporate. The Womens Suffrage movement allowed for women to secure their place in society and take a closer step to complete equality amongst the people of America. The fight for Women’s suffrage was a tough fight but the women of that time held strong and fought for what they believed was right.

Short Term Marketing Projects Essays

Short Term Marketing Projects Essays Short Term Marketing Projects Essay Short Term Marketing Projects Essay In small companies and resource-strapped non-profits, CEOs and executive directors are sometimes overwhelmed by the number of tasks that need to be done in a limited time period with limited resources. In these instances, it is often extremely cost effective to hire someone on a short-term basis who can take on and quickly complete specific projects, without needing a lot of direction and start-up time. Doing so frees the CEO to focus on sales and other revenue-generating activities. SCOPE OF SERVICES New Venture Networks project work generally focuses on the areas of research, marketing and operations. For past clients, we have: set up operations and infrastructure, helped with the research and writing of business and marketing plans, written initial marketing and Website collateral, developed work processes and policies, written job descriptions and want ads, assisted with initial business development and account management, connected companies to a wide variety of resources and contacts, done research projects on mulitple topics. CASE STUDIES Recently, a small PR and marketing firm, engaged in a study for a government agency, hired us to develop the research questionnaires to be used in the stdy, help them identify and select the sample to be interviewed, and advise them on the analysis of the data collected. This research is now in process and the government agency is happy with how the project is progressing. Another client, an e-learning company, hired us to do a research project identifying portal sites in the knowledge management area. We compiled such a list and then used these sites to research and monitor upcoming events of interest to our client. We also investigated and then helped the CEO obtain speaking engagements at some of these events. One client was starting a company providing research and customer relationship management services using an outsourced labor force located in India. She needed to focus on business development and asked us to help with a wide variety of tasks so she could concentrate on her primary focus of building the business. Over a period of 5 months, New Venture Network helped her with strategic and business planning, wrote marketing collateral and website content, introduced her to some of our contacts as potential clients, developed work processes, and worked with both the companys American clients and the employees in India who were performing the work. A marketing and PR firm was putting on a conference for one of their clients and was having a hard time obtaining CD-ROM and video materials needed for the conference. Because they were short-staffed and didnt have anyone who had the time to work on this project, which had a very tight deadline, they hired us to find and collect these materials. New Venture Network found companies that had such materials and convinced them to send these materials to our client. Our client used them for their trade show, which was deemed a success by their client. Short Term Projects At Marketing Eye we realise not all businesses need the same marketing solution. Businesses can also hire our Senior Marketing Manager for short-term projects, which include: Lead Generation Brand Building Marketing Strategy Communication Strategy Public Relations Website Development Corporate Videos Advertising Campaigns Newsletters MARKETING CONSULTANT LOGISTICS EVENT MANAGEMENT COMPANIES Eg: Red Orange Events Evolution Events LLC

Ruthenium or Ru Element Facts

Ruthenium or Ru Element Facts Ruthenium or Ru is a hard, brittle, silvery-white transition metal that also belongs to the noble metals and platinum metals group in the periodic table. While it does not readily tarnish, the pure element can form a reactive oxide that can explode. Here are physical and chemical properties and other ruthenium facts: Element Name: Ruthenium Symbol: Ru Atomic Number: 44 Atomic Weight: 101.07 Uses of Ruthenium Ruthenium is one of the best hardeners for addition to palladium or platinum. It is alloyed with these metals to make electrical contacts with extreme wear resistance.Ruthenium is used to plate other metals. Thermal decomposition or electrodeposition are the most common metals used to make ruthenium coatings.One ruthenium-molybdenum alloy is superconductive at 10.6 K.Adding 0.1% ruthenium to titanium improves its corrosion resistance by a factor of a hundred.Ruthenium oxides are versatile catalysts.Ruthenium is used in some pen nibs. (Dont chew on your pen!) Interesting Ruthenium Facts Ruthenium was the last of the platinum group metals to be discovered.The element name comes from the Latin word  Ã¢â‚¬ËœRuthenia’. Ruthenia means Russia, which refers to the Ural Mountains of Russia, the original source of the platinum metal group ores.Ruthenium compounds are similar to those formed by the element cadmium. Like cadmium, ruthenium is toxic to humans. It is believed to be a carcinogen. Ruthenium tetroxide (RuO4)  is considered particularly dangerous.Ruthenium compounds stain or discolor skin.Ruthenium is the only group 8 element that does not have 2 electrons in its outer shell.The pure element is susceptible to attack by halogens and hydroxides. It is not affected by acids, water, or air.Karl K. Klaus was the first to isolate ruthenium as a pure element. This was an involved process in which he first prepared the salt,  ammonium chlororuthenate, (NH4)2RuCl6, and then isolated the metal from it in order to characterize it.Ruthenium displays a wide range of oxidation states (7 or 8), although it is most commonly found in the II, III, and IV states. Pure ruthenium costs around $1400 per 100 grams of the metal.The element abundance in the Earths crust is estimated to be 1 part per billion by weight. The abundance in the solar system is believed to be about 5 parts per billion by weight. Sources of Ruthenium Ruthenium occurs with other members of the platinum group of metals in the Ural mountains and in North and South America. It is also found in the Sudbury, Ontario nickel-mining region and in the pyroxenite deposits of South Africa. Ruthenium may also be extracted from radioactive waste. A complex process is used to isolate ruthenium. The final step is hydrogen reduction of ammonium ruthenium chloride to yields a powder that is consolidated by powder metallurgy or argon-arc welding. Element Classification: Transition Metal Discovery: Karl Klaus 1844 (Russia),  however, Jà ¶ns Berzelius and Gottfried Osann  discovered impure ruthenium in 1827 or 1828 Density (g/cc): 12.41 Melting Point (K): 2583 Boiling Point (K): 4173 Appearance: silvery-gray, extremely brittle metal Atomic Radius (pm): 134 Atomic Volume (cc/mol): 8.3 Covalent Radius (pm): 125 Ionic Radius: 67 (4e) Specific Heat (20 °C J/g mol): 0.238 Fusion Heat (kJ/mol): (25.5) Pauling Negativity Number: 2.2 First Ionizing Energy (kJ/mol): 710.3 Oxidation States: 8, 6, 4, 3, 2, 0, -2 Electron Configuration: [Kr] 4d7 5s1 Lattice Structure: Hexagonal Lattice Constant (Ã…): 2.700 Lattice C/A Ratio: 1.584 References: Los Alamos National Laboratory (2001)Crescent Chemical Company (2001)Langes Handbook of Chemistry (1952)CRC Handbook of Chemistry Physics (18th Ed.)

How Will You Measure Your Life Case Study Example | Topics and Well Written Essays - 250 words

How Will You Measure Your Life - Case Study Example The unsurpassed tactic is balances linking comprising a purposeful, emergent or flexible strategy. Despite the fact that people will always possess deliberate strategies, possessing resources and ability to change the tactics is crucial. If the ideas used are about to be overtaken in the market, a person can always change to fit in the competitive environment. Best business entails giving to the customers what they need. In the case of allocating what is not needed by the customers leads to loss. This happens because the customers will not purchase what they do not require. Resources must be allocated where they are in demand. Smaller, feebler, but more pioneering competitors begin markets and finally dislocate and fully go beyond their entrants. In life, we cannot stay to obtain all the information before undertaking a decision. People can replicate their lives off by meditating on the causes and consequences. A number of organizations value short term over long term payouts. Â  Giving more value to the things which have immediate rewards compared to those whose fruits will be achieved later can be extremely damaging. How people utilize energy, time, talent and wealth will be determined by the decision made on how to put the resources into action. Abandoning personal correlations in the events may result into irreversible, detrimental effects. Good capital is devoting in stuffs most probable to proffer an optimistic return, or as a minimum let a person to have residual assets in order to revolve. In life situation, getting fixated on short term income is very easy. Failure to invest in crucial things such as family and friendship early enough, realizing their importance can take time. In industry, corporations can make colossal errors by impeding taking action against a troublesome competitor, or scaling up. Despite the fact that

Identify an organisation Essay Example | Topics and Well Written Essays - 3000 words

Identify an organisation - Essay Example As a result, ExxonMobil has benefit from suitable competitive advantages, in addition to market leadership. ExxonMobil is organized on a geographical level besides having an effective leadership and focus on the firm’s objectives. The organization of ExxonMobil is dependent on business services and geographical location. The firm has functional groups that are categorized into three crucial operating divisions. The three groups are the upstream, downstream and chemicals division (Coll, 2012). The upstream management level or division of the firm dominates the firm’s cash flow. This division accounts for 70 percent of ExxonMobil’s revenues. The upstream division is responsible for business activities such as oil exploration, extraction, shipping and wholesaling. These operations have their headquarters at Texas. The downstream operations oversee business activities such as marketing, refining and retailing. These operations are dependent on the firm’s Virgi nia operations. The chemical division oversees business activities that involve the production and use of chemicals in the operations of the firm. This division has its headquarters in Texas. ExxonMobil has over 82,000 employees located in different locations globally. These employees support the activities of the three organizational levels by ensuring that the organization achieves stability in operations. It is worth stating that ExxonMobil has different brands such as Exxon, Esso and Mobil. The firm also owns subsidiaries such as Imperial Oil Limited and SeaRiver Maritime (Coll, 2012). ExxonMobil’s upstream division has operations such as â€Å"ExxonMobil Upstream Ventures, ExxonMobil Exploration Company, ExxonMobil Development Company, ExxonMobil Production Company, ExxonMobil Gas and Power Marketing Company and ExxonMobil Upstream Research Company† (ExxonMobil, 2013). Downstream operations are achieved by the activities of â€Å"Sea River Maritime, Lubricant & S pecialties Marketing Company, ExxonMobil Refining and Supply Company, ExxonMobil Research and Engineering Company, ExxonMobil Fuels and International Marine Transportation† (ExxonMobil, 2013). Operations of the chemical division are achieved through the activities of ExxonMobil Chemical Company. Flat or Tall Organization According to the organizational structure used by ExxonMobil, and the firm’s website, ExxonMobil is a flat organization. This means that the firm provides effective communication and interactive platforms (Bhairaw & Manoj, 2012). At ExxonMobil, every employee, regardless of level, status or job description can approach anyone at the firm and ask questions or share perspectives. ExxonMobil has an informative atmosphere. The flat organizational structure is based on ExxonMobil’s hierarchical structure. This structure was important because it helped the group access one of the firm’s representatives. The representative helped in filling out t he survey form. Tall organizational structures rely on traditional corporate structures that have mid-base and upper management levels. Tall organizational structures feature complex hierarchies that lead to long management chains (Bhairaw & Manoj, 2012). As the organization expands, the management levels increase. Managers form numerous ranks that control reduced numbers of employees or areas of the organization. Flat organizational structures have minimum management levels

A Template for Structural Analysis of an Industry Essay Example for Free

A Template for Structural Analysis of an Industry Essay Corporate Strategy and Policy A Template for Structural Analysis of an Industry You can use the following template for analyzing the structure of an industry. It requires you to rate the attractiveness of an industry on a 5-point scale for several factors relating to each of the five forces in Porter’s (1980) model. (A 7-point or a 10-point scale would perhaps be even better in that it would allow finer discrimination between two businesses with different levels of attractiveness. But the 5-point scale is relatively much easier to use. To help you in the ratings, the template provides the anchors at the two ends of the scale for each factor with examples of industries corresponding to the anchors. You will note that we have included separate sections in the template for exit barriers and government. The former contributes to rivalry among competitors (and is, therefore, not a sixth force). The latter, according to some, should be treated as the sixth force, although Porter says the effect of government on an industry is felt through one or more of the five forces. If you want, you can attach different weights to different forces and also to different factors within each force. If an industry has different segments that are structurally different, you can separately analyze the attractiveness of each segment. You can also analyze the changes in industry structure by using the template at two different points of time (for instance, today and five years from now) to obtain greater insight into likely opportunities and threats that you can expect from the industry environment. To reduce the element of subjectivity, you can get the attractiveness evaluated by several colleagues and arrive at average scores. Even the weights of different factors and forces could be based on the opinion of your colleagues and you could attach greater weight to the opinion of colleagues with greater expertise. Use your creativity to benefit from this tool. You can use the remarks column to annotate your ratings. For instance, consider the first factor in Table 1 (number of competitors).

The Greatest Motivational Factor in My Life Essay example -- Motivatio

Motivation is the process by which one is moved, whether the process is external or internal. It encourages one to do something or not to do something. It can bring about positive change or a negative reaction depending on the situation. Many things affect motivation such as, the environment, your family background, schools, the government, and many other stimuli. Probably the greatest motivational factor in my life is my mother. She has always encouraged me to complete my education, many times when I did not want to. I remember once when I was going to drop out of college, she nearly threatened me with bodily harm if I didn’t finish. Of course, I can’t say that I blame her, I only had one year left. I am extremely glad that she did. I have always had the notion that I had to please everyone else when I was growing up. In elementary school, I had to always do good because my older brothers and sisters were good. Naturally I had to behave as well. I come from a large family. My parents had 15 children! Everyone one of us graduated from high school as well as worked on a farm. When I attended school, all I ever heard was that your brother or sister did well with this subject so you will naturally do as well. Sometimes this was good motivation and sometimes it was not a good tactic to use. There was always one good thing going for the Jacobs family, which was the fact that all of us liked math in school and it was real easy. It is no wonder we had straight A’s i...

Examine the Key Ideas Associated with Law and Punishment

Examine the key ideas associated with law and punishment Law and Punishment go hand in hand. There are Laws, which are the system of rules which a particular country or community recognises as regulating the actions of followers, and there are punishments, for when a member of said country/community breaks the rules. Punishment is defined as the infliction of a penalty or to cause pain for an offence.Most of the time it is not a choice as to whether you are part of a law-following community because almost all countries in the world have some kind of law-system and often the minute you turn the age where you are legally responsible or step off the boat, plane or train you are subjected to their laws. The Biblical views on punishment have often been based on the old testament teaching ‘an eye for an eye’. The bible also lays out punishments for certain crimes that appear to follow this teaching. Except that there are many punishments in the bible that seem to be out of pro portion to the crime e. . â€Å"whoever curses his father or his mother will be put to death†. There are many problems with this statement for example it does not state how old the son/daughter has to be to deserve this punishment, it seems to imply even a 4 year old who does not necessarily know what they are saying can be put to death for cursing their parents. An eye for an eye is also relevant in today’s laws, it is the basis of retributive justice that is present in our society. Retributive justice is the idea that those who have done the crime should somehow pay back for what they did.Rachel’s said â€Å"People deserve to be treated in the same way that they have (voluntarily treated others)† This seems like a fair way of treating someone because why someone should be allowed to do one thing and then not expect to be treated in the same way? But some punishments that are retributive e. g. capital punishment do not seem to benefit society and there i s a risk of the punishment becoming revengeful not retributive. Retributive justice also causes a problem because it might make capital punishment a legitimate approach to punishment.I. e. If a person murders it is right for them to be killed. And It also can lead the legal system to instead of appearing like someone is being made to pay back what they have done wrong to looking like the legal system is being hypocritical i. e. we are showing society that it is wrong to be violent by being violent to wrong doers. This is not how we should be teaching people to not be violent. The punishment also must not be disproportionate to the crime e. g. sentencing a small child to death for stealing a sweet from a shop.Some forms of punishment e. g. fines may be disproportionate because to people with money a fine does not make any difference but to someone who has just enough money or just below the money they need for necessities it can be a massive problem, but on average I think retributiv e measures helps to make the punishment be proportionate to the crime because the person can be treated the way they treated others. Deterrence is another form of punishment. It means that we should punish for crimes in order to deter others from committing the same crime i. e. f we know what the punishment for an act is we are less inclined to do it. However there are problems with this because it assumes that the perpetrator had intent and full knowledge of what they were doing was wrong but often violent crimes happen in the heat of the moment and are not planned and those violent crimes that are calculated are often done by those people who are mentally ill. Also, why should be punish someone for the sake of someone else? Reformative justice is becoming more popular in today’s society and is the attempt to turn the criminal into a normal law abiding citizen.It is often based on the idea that everyone has an intrinsic value simply because they are human and the improvement of humans is good. According to deontology this is good because rehabilitation prevents people treating others as means. There is also a utilitarian argument for this because reformative justice improves the general quality of life in society. I also would argue that reformative justice is also trying to right the inequality between the rich and poor. People from less well of backgrounds are more likely to commit crimes due to them having fewer opportunities and less education.Poorer people are also more likely to come from violent backgrounds and therefore are more likely to be violent themselves. Therefore reformative justice helps make up for this lack of opportunities by offering classes inside prisons for example. Although there are many good things about reformative punishments, there are also many problems. Reformation takes away the responsibility for our actions and it does not attempt to right the wrong. This causes problems in itself because if there is no ‘punishm ent’ other than reformation then there is no incentive for people not to commit crime, in fact there is almost an incentive to commit a crime!And why someone in prison should be getting opportunities that people outside the prison do not get. I would like to think that there is good in everyone but it would simply be impractical to think that we can rehabilitate everyone as some people are simply too far gone and do not want to change. Hobbes philosophised about why we want/need laws in society and he came up with an idea called the social contract theory. This idea was based on his notion that government is an agreement between a group of people where they agree not to hurt each other.This is fuelled by the motivation of self-interest which according to Hobbes is pertinent because human beings are selfish creatures and therefore seek collective protection. i. e. If I promise not to hurt you and you promise not to hurt me then neither of us gets hurt and we’re both hap py. And this is what Hobbes believes to be the basis of our desire to keep the laws set out by the state – we should avoid chaos because it is not in our best interests therefore we should keep the laws. Kant had a similar conclusion i. e. that we should keep the laws but for a different reason.Kant said that we should ‘act so that you treat humanity, both in your own person and in that of another, always as an end’ i. e. we should keep the laws so that we do not treat others as means to an end. His idea of kingdom of ends states ‘act in accordance with the maxims of a member giving universal laws for a merely possible kingdom of ends’ where the kingdom of ends is a perfect community where all members respect each other as ends in themselves. This is what we should strive to achieve, and to be successful at this we should keep the laws of the community.Therefore we should keep the laws and to keep the laws means that we must punish those that break t he law.. Evaluate the view that objectivity and relativism pose problems for the concept of law and punishment. Objectivity states that there are ethical principles that are always wrong or always right and they are normally established a priori i. e. without experience. Therefore as there are certain things that are always wrong we need a law to stop people from doing it. This law may be objectively right and its punishment for breaking the law may also be objectively right.Objectivity might support retributive justice; Retributive justice is when someone pays back for their crime. This could support objectivity because it needs to be imposed with the consistency that objectivity provides therefore you could argue that Retributive justice only works with the objectivity and as retributive justice tends to be favoured in western societies perhaps objectivity does not pose such a problem with law and punishment. Having said this there are still the problems it does cause.Objective et hical principles are established a priori therefore we cannot know them through experience. If we do not know them through experience, how can we truly know if something is right or wrong and therefore how do we know if a law is right whilst using objectivity. Objectivity also does not allow for individual cases, it runs the risk of using a ‘one size fits all’ policy towards law and punishment and whilst we do need some consistency amongst crimes, one size does not exactly fit all because not every crime is exactly the same!Normative relativism states that truth and morality is relative to the country/society that one is in and therefore we cannot criticize other cultures as to how they do things. With regards to law and punishment this leads us to the face that there are no definite truths or morals that can be applied in every situation around the world so Punishment is determined according to the country and, if we take it relativism further, according to the circums tances of the case.Hobbes took a relativist view because he said that justice cannot be fixed, and each country/community has different ideas of what law and punishment should be all we should do is aim not be in chaos, not because it is wrong in an objective sense but because it does not serve or self-interest. Relativism may be a good thing because it allows each country to organise punishment as they see fit and there is merit in the systems that other countries have for example some people believe that Iraq was justified in the hanging of Saddam Hussein even though in our society the death penalty is not used.However it does have problems because it means that all forms of punishment are right as long as it is accepted by society e. g. it would be right to hang a small child for stealing sweets if society thought it was the correct punishment. If punishment is decided relative to the circumstance and there is no consistency we could end up with a justice system where only some p eople would be punished and this could easily lead to corruption, sexism and racism within the punishment system.It also means that there may be little point of having punishment because if only some cases lead to punishment then punishment would be pointless! It would serve no deterrent or retributive purpose. Objectivity and Relativism both have merits and cause problems for law and punishment and I do not think either can work solely on their own because they have too many problems by themselves, but on the other hand I do not know if it is possible for Objectivity and Relativism to work together.Perhaps if the laws are objective but how we punish people is relative to each country, case and persons involved. For example although killing may be objectively wrong it may not be appropriate to treat a child who killed someone, an adult who killed someone by accident and an adult who killed someone out of hate all In the same way although they have all broken the same objective rule.

Balance Sheet and Inventory

Chapter 4 Discussion Questions |4-1. |What are the basic benefits and purposes of developing pro forma statements and a cash budget? | | | | | |The pro-forma financial statements and cash budget enable the firm to determine its future level of asset needs and the| | |associated financing that will be required. Furthermore, one can track actual events against the projections. Bankers | | |and other lenders also use these financial statements as a guide in credit decisions. | | | | |4-2. |Explain how the collections and purchases schedules are related to the borrowing needs of the corporation. | | | | | |The collections and purchase schedules measure the speed at which receivables are collected and purchases are paid. To | | |the extent collections do not cover purchasing costs and other financial requirements, the firm must look to borrowing | | |to cover the deficit. | | | | |4-3. |With inflation, what are the implications of using LIFO and FIFO inventory methods? How do they affect the cost of | | |goods sold? | | | | |LIFO inventory valuation assumes the latest purchased inventory becomes part of the cost of goods sold, while the FIFO | | |method assigns inventory items that were purchased first to the cost of goods sold. In an inflationary environment, the| | |LIFO method will result in a higher cost of goods sold figure and one that more accurately matches the sales dollars | | |recorded at urrent dollars. | | | | |4-4. |Explain the relationship between inventory turnover and purchasing needs. | | | | | |The more rapid the turnover of inventory, the greater the need for purchase and replacement. Rapidly turning inventory | | |makes for somewhat greater ease in foreseeing future requirement s and reduces the cost of carrying inventory. | | | |4-5. |Rapid corporate growth in sales and profits can cause financing problems. Elaborate on this statement. | | | | | |Rapid growth in sales and profits is often associated with rapid growth in asset commitment. A $100,000 increase in | | |sales may cause a $50,000 increase in assets, with perhaps only $10,000 of the new financing coming from profits. It | | |is very seldom that incremental profits from sales expansion can meet new financing needs. | | | |4-6. |Discuss the advantage and disadvantage of level production schedules in firms with cyclical sales. | | | | | |Level production in a cyclical industry has the advantage of allowing for the maintenance of a stable work force and | | |reducing inefficiencies caused by shutting down production during slow periods and accelerating work during crash | | |production periods. A major drawback is that a large stock of inventory may be accumulated during the slow sales | | |period. This inventory may be expensive to finance, with an associated danger of obsolescence. | | | | |4-7. |What conditions would help make a percent-of-sales forecast almost as accurate as pro forma financial statements and | | |cash budgets? | | | | | |The percent-of-sales forecast is only as good as the functional relationship of assets and liabilities to sales. To | | |the extent that past relationships accurately depict the future, the percent-of-sales method will give values that | | |reasonably represent the values derived through the pro-forma statements and the cash budget. | Chapter 4 Problems 1. Eli Lilly is very excited because sales for his nursery and plant company are expected to double from $600,000 to $1,200,000 next year. Eli notes that net assets (Assets — Liabilities) will remain at 50 percent of sales. His firm will enjoy an 8 percent return on total sales. He will start the year with $120,000 in the bank and is bragging about the Jaguar and luxury townhouse he will buy. Does his optimistic outlook for his cash position appear to be correct? Compute his likely cash balance or deficit for the end of the year. Start with beginning cash and subtract the asset buildup (equal to 50 percent of the sales increase) and add in profit. 1 Solution: Eli Lilly Beginning cash$120,000 – Asset buildup(300,000)(1/2 ? $600,000) Profit 96,000(8% ? $1,200,000) Ending cash($84,000)Deficit No, he will actually end up with a negative cash balance. 2. In problem 1 if there had been no increase in sales and all other facts were the same, what would Eli’s ending cash balance be? What lesson do the examples in problems 1 and 2 illustrate? 4-2. Solution: Eli Lilly (continued) Beginning cash$120,000 No asset buildup—– Profit 48,000(8% ? $600,000) Ending cash$168,000 The lesson to be learned is that increased sales can increase the financing requirements and reduce cash even for a profitable firm. 3. Gibson Manufacturing Corp. expects to sell the following number of units of steel cables at the prices indicated under three different scenarios in the economy. The probability of each outcome is indicated. What is the expected value of the total sales projection? OutcomeProbabilityUnitsPrice A0. 20100$20 B0. 5018025 C0. 3021030 4-3. Solution: Gibson Manufacturing Corporation |(1) |(2) |(3) |(4) |(5) |(6) | | | | | | |Expected | | | | | |Total |Value | Outcome |Probability |Units |Price |Value |(2 ? 5) | |A |. 20 |100 |$20 |2,000 |400 | |B |. 50 |180 |$25 |4,500 |2,250 | |C |. 0 |210 |$30 |6,300 |1,8900 | | | |Total expected value |$4,540 | 4. The Alliance Corp. expects to sell the following number of units of copper cables at the prices indicated, under three different scenarios in the economy. The probability of each outcome is indicated. What is the expected value of the total sales projection? OutcomeProbabilityUnitsPrice A0. 30200$15 B0. 5032030 C0. 2041040 4-4. Solution: Alliance Corporation |(1) |(2) |(3) |(4) |(5) |(6) | | | | | | |Expected | | | | | |Total |Value | |Outcome |Probability |Units |Price |Value |(2 ? ) | |A |. 30 |200 |$15 |$3,000 | 900 | |B |. 50 |320 |$30 |9,600 | 4,800 | |C |. 20 |410 |$40 |16,400 | 3,280 | | | |Total expected value |$8,980 | . ER Medical Supplies had sales of 2,000 units at $160 per unit last year. The marketing manager projects a 25 percent increase in unit volume this year with a 10 percent price increase. Returned merchandise will represent 5 percent of total sales. What is your net dollar sales projection for this year? 4-5. Solution: ER Medical Supplies | |Unit volume 2,000 ? 1. 25 |2,500 | | |Price $160 ? . 10 |$176 | | |Total Sales |$440,000 | | |Returns (6%) |22,000 | | |Net Sales |$418,000 | 6. Cyber Security Systems had sales of 3,000 units at $50 per unit last year. The marketing manager projects a 20 percent increase in unit volume sales this year with a 10 percent price increase. Returned merchandise will represent 6 percent of total sales. What is your net dollar sales projection for this year? 4-6. Solution: Cyber Security Systems |Unit volume 3,000 ? 1. 20 |3,600 | |Price $50 ? 1. 10 |? 55 | |Total Sales |$198,000 | |Returns (6%) |11,880 | |Net Sales |$186,120 | 7. Sales for Ross Pro’s Sports Equipment are expected to be 4,800 units for the coming month. The company likes to maintain 10 percent of unit sales for each month in ending inventory. Beginning inventory is 300 units. How many units should the firm produce for the coming month? 4-7. Solution: Ross Pro’s Sports Equipment |+ |Projected sales |4,800 |units | |+ |Desired ending inventory |480 |(10% ? ,800) | |– |Beginning inventory | 300 | | | |Units to be produced |4,980 | | | | | 8. Digitex, Inc. , had sales of 6,000 units in March. A 50 percent increase is expected in April. The company will maintain 5 percent of expected unit sales for April in ending inventory. Beginning inventory for April was 200 units. How many units should the company produce in April? 4-8. Solution: Digitex, Inc. |+ |Projected sales |9,000 |units (6,000 ? 1. 5) | |+ |Desired ending inventory |450 |units (5% ? ,000) | |– |Beginning inventory | 200 |units | | |Units to be produced |9,250 |units | 9. Hoover Electronics has beginning inventory of 22,000 units, will sell 60,000 units for the coming month, and desires to reduce ending inventory to 30 percent of beginning inventory. How many units should Hoover produce? 4-9. Solution: Hoover Electronics + |Projected sales |60,000 |units | |+ |Desired ending inventory |6,600 |(30% ? 22,000) | |– |Beginning inventory | 22,000 |units | | |Units to be produced |44,600 |units | 0. On December 31 of last year, Barton Air Filters had in inventory 600 units of its product, which costs $2 8 per unit to produce. During January, the company produced 1,200 units at a cost of $32 per unit. Assuming Barton Air Filters sold 1,500 units in January, what was the cost of goods sold (assume FIFO inventory accounting)? 4-10. Solution: Barton Air Filters |Cost of goods sold on 1,500 units | | | | | | | |Old inventory: | | | | Quantity (Units) |600 | | | Cost per unit |$ 28 | | | Total |$ 16,800 | | | | | | |New inventory: | | | | Quantity (Units) |900 | | | Cost per unit |$ 32 | | | Total |$28,800 | | |Total Cost of Goods Sold |$45,600 | 11. On December 31 of last year, Wolfson Corporation had in inventory 400 units of its product, which cost $21 per unit to produce. During January, the company produced 800 units at a cost of $24 per unit. Assuming that Wolfson Corporation sold 700 units in January, what was the cost of goods sold (assume FIFO inventory accounting)? 4-11. Solution: Wolfson Corporation |Cost of goods sold on 700 units | | | | |Old inventory: | | | Quantit y (Units) |400 | | Cost per unit |$ 21 | | Total |$ 8,400 | | | | |New inventory: | | | Quantity (Units) |300 | | Cost per unit |$ 24 | | Total |$ 7,200 | |Total Cost of Goods Sold |$15,600 | 12. At the end of January, Lemon Auto Parts had an inventory of 825 units, which cost $12 per unit to produce. During February the company produced 750 units at a cost of $16 per unit. If the firm sold 1,050 units in February, what was its cost of goods sold? a. Assume LIFO inventory accounting. b. Assume FIFO inventory accounting. 4-12. Solution: Lemon Auto Parts a. LIFO Accounting |Cost of goods sold on 1,050 units | | |New inventory: | | | Quantity (Units) |750 | | Cost per unit $ 16 | | Total |$12,000 | |Old inventory: | | | Quantity (Units) |300 | | Cost per unit |$ 12 | | Total |$ 3,600 | |Total Cost of Goods Sold |$15,600 | b. FIFO Accounting Cost of goods sold on 1,050 units | | |Old inventory: | | | Quantity (Units) |825 | | Cost per unit |$ 12 | | Total |$ 9,900 | |New inventory: | | | Quantity (Units) |225 | | Cost per unit |$ 16 | | Total |$ 3,600 | |Total Cost of Goods Sold |$15,600 | 13. Convex Mechanical Supplies produces a product with the following costs as of July 1, 2009: Material$ 6 Labor4 Overhead 2 $12 Beginning inventory at these costs on July 1 was 5,000 units. From July 1 to December 1, Convex produced 15,000 units. These units had a material cost of $10 per unit. The costs for labor and overhead were the same. Convex uses FIFO inventory accounting. Assuming that Convex sold 17,000 units during the last six months of the year at $20 each, what would gross profit be? What is the value of ending inventory? 4-13. Solution: Convex Mechanical Supplies |Sales (17,000 @ $20) | | |$340,000 | | |Cost of goods sold: | | | | | |Old inventory: | | | | | | Quantity (units) |5,000 | | | | | Cost per unit |$ 12 | | | | |Total | |$ 60,000 | | | |New inventory: | | | | | | Quantity (units) |12,000 | | | | | Cost per unit |$ 16 | | | | |Total | |$192,000 | | |Total cost of goods | | | | | |sold | | |$252,000 | | |Gross profit | | |$ 88,000 | | | | | | | | |Value of ending | | | | | |inventory: | | | | | |Beginning inventory | | | | | |(5,000 ( $ 12) | |$ 60,000 | | | |+ Total production | | | | | |(15,000 ( $16) | |$240,000 | | | |Total inventory | | | | | |available for sale | |$300,000 | | | |– Cost of good sold | |$252,000 | | | |Ending inventory | |$ 48,000 | | | |or | | | | | |3,000 units ( $16 = $48,000 | 14. Assume in problem 13 that Convex used LIFO accounting instead of FIFO. What would gross profit be? What is the value of ending inventory? 4-14. Solution: Convex Mechanical Supplies (Continued) |Sales (17,000 @ $20) | | |$340,000 | | |Cost of goods sold: | | | | | |New inventory: | | | | | | Quantity (units) |15,000 | | | | | Cost per unit †¦.. |$ 16 | | | | |Total †¦.. |$240,000 | | | |Old inventory: | | | | | | Quantity (units) †¦.. |2,000 | | | | | Cost per unit †¦.. |$ 12 | | | | |Total †¦.. | |$ 24,000 | | | |Total cost of goods | | | | | |sold †¦.. | | |$264,000 | | |Gross profit †¦.. | |$ 76,000 | | | | | | | | |Value of ending | | | | | |inventory: | | | | | |Be ginning inventory | | | | | |(5,000 ( $12) †¦Ã¢â‚¬ ¦ |$ 60,000 | | |+ |Total production | | | | | |(15,000 ( $16) †¦.. | |$240,000 | | | |Total inventory | | | | | |available for sale †¦.. | |$300,000 | | |– |Cost of good sold †¦.. | |$264,000 | | | |Ending inventory †¦.. |$ 36,000 | | | |OR | | | | | |3,000 units ( $12 = $36,000 | 15. Jerrico Wallboard Co. had a beginning inventory of 7,000 units on January 1, 2008. The costs associated with the inventory were: Material$9. 00 unit Labor5. 00 unit Overhead4. 10 unit During 2004, Jerrico produced 28,500 units with the following costs: Material$11. 50 unit Labor4. 80 unit Overhead5. 20 unit Sales for the year were 31,500 units at $29. 60 each. Jerrico uses LIFO accounting. What was the gross profit? What was the value of ending inventory? 4-15. Solution: Jerrico Wallboard Co. | |Sales (31,500 @ $29. 0) | | |$932,400 | | |Cost of goods sold: | | | | | |New inventory: | | | | | | Quantity (units) |28,500 | | | | | Cost per unit |$ 22. 50 | | | | |Total | |$641,250 | | | |Old inventory: | | | | | | Quantity (units) |3,000 | | | | | Cost per unit |$ 18. 0 | | | | |Total | |$ 54,300 | | | |Total cost of goods | | | | | |sold | | |$695,550 | | |Gross profit | | |$236,850 | | | | | | | | |Value of ending inventory: | | | | | |Beginning inventory | | | | | |(7,000 ( $18. 10) | |$126,700 | | | |+ Total production | |$641,250 | | | |(28,500 ( $22. 50) | | | | |Total inventory | | | | | |available for sale | |$767,950 | | | |– Cost of good sold | |$695,550 | | | |Ending inventory | |$ 72,400 | | | |OR | | | | | |4,000 units ( $18. 10 = $72,400 | 16. J. Lo’s Clothiers has forecast credit sales for the fourth quarter of the year as: September (actual)$70,000 Fourth Quarter October$60,000 November55,000 December80,000 Experience has shown that 30 percent of sales are collected in the month of sale, 60 percent in the following month, and 10 percent are never collected. Prepare a schedule of cash receipts for J. Lo’s Clothiers covering the fourth quarter (October through December). 4-16. Solution: J. Lo’s Clothiers | |September |October |November |December | |Credit sales |$70,000 |$60,000 |$55,000 $80,000 | |30% Collected in month of sales | | | | | | | |18,000 |16,500 |24,000 | |60% Collected in month after | | | | | |sales | |42,000 |36,000 |33,000 | |Total cash receipts | | | | | | | |$60,000 |$52,500 |$57,000 | 17. Victoria’s Apparel has forecast credit sales for the fourth quarter of the year as: September (actual)$50,000 Fourth Quarter October$40,000 November35,000 December60,000 Experience has shown that 20 percent of sales are collected in the month of sale, 70 percent in the following month, and 10 percent are never collected. Prepare a schedule of cash receipts for Victoria’s Apparel covering the fourth quarter (October through December). 4-17. Solution: Victoria’s Apparel | |September |October |November |December | |Credit sales |$50,000 |$40,000 |$35,000 $60,000 | |20% Collected in month of sales| | | | | | | |8,000 |7,000 |12,000 | |70% Collected in month after | | | | | |sales | |35,000 |28,000 |24,500 | |Total cash receipts | | | | | | | |$43,000 |$35,000 |$36,500 | 18. Pirate Video Company has made the following sales projections for the next six months. All sales are credit sales. March$24,000June$28,000 April30,000July35,000 May18,000August38,000 Sales in Janu ary and February were $27,000 and $26,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. Prepare a monthly cash receipts schedule for the firm for March through August. Of the sales expected to be made during the six months from March through August, how much will still be uncollected at the end of August? How much of this is expected to be collected later? 4-18. Solution: Pirate Video Company Cash Receipts Schedule | |January |February |March |April | Forecasted unit sales |4,000 |10,000 |8,000 |6,000 | |+Desired ending inventory |15,000 |12,000 |9,000 | | |–Beginning inventory |6,000 |15,000 |12,000 | | |Units to be produced |13,000 |7,000 |5,000 | | |Cash Payments | | |Feb |March |April |May | |Units produced |8,000 |13,000 |7,000 |5,000 | |Materials ($7/unit) month after production | | | | | | | |$56,000 |$91,000 |$49,000 | |Labor ($3/unit) mon th of production | | | | | | | |39,000 |21,000 |15,000 | |Fixed overhead | |10,000 |10,000 |10,000 | |Dividends | | | |14,000 | |Total Cash Payments | |$105,000 |$122,000 |$88,000 | 21. Dina’s Lamp Company has forecast its sales in units as follows: |January |1,000 | |February |800 | |March |900 | |April |1,400 | |May |1,550 | |June |1,800 | |July |1,400 | Dina’s always keeps an ending inventory equal to 120 percent of the next month’s expected sales. The ending inventory for December (January’s beginning inventory) is 1,200 units, which is consistent with this policy. Materials cost $14 per unit and are paid for in the month after purchase. Labor cost is $7  per unit and is paid in the month the cost is incurred. Overhead costs are $8,000 per month. Interest of $10,000 is scheduled to be paid in March, and employee bonuses of $15,500 will be paid in June. Prepare a monthly production schedule and a monthly summary of cash payments for January through June. Dina produced 800 units in December. 4-21. Solution: Dina's Lamp Company Production Schedule | |Jan. |Feb. March |April |May |June |July | |Forecasted unit sales |1,000 | |900 |1,400 |1,550 |1,800 |1,400 | |+ Desired ending inventory |960 |1,080 |1,680 |1,860 |2,160 |1,680 | | |– Beginning inventory |1,200 | 960 |1,080 |1,680 | 1,860 | 2,160 | | |= Units to be produced |760 |920 |1,500 |1,580 |1,850 |1,320 | | |Summary of Cash Payments | | |Dec. |Jan. |Feb. |M arch |April |May |June | |Units roduced |800 |760 |920 |1,500 |1,580 |1,850 |1,320 | |Material cost ($14/unit) month after purchase | | | | | | | | | | |$11,200 |$10,640 |$12,880 |$21,000 |$22,120 |$25,900 | |Labor cost ($5/unit) month incurred | | | | | | | | | | |5,320 |6,440 |10,500 |11,060 |12,950 |$9,240 | |Overhead cost | |8,000 |8,000 |8,000 |8,000 |8,000 |8,000 | |Interest | | | |10,000 | | | | |Employee bonuses | | | | | | |15,500 | |Total Cash Payments | |$24,520 |$25,080 |$41,380 |$40,060 |$43,070 |$58,640 | 22. Graham Potato Company has projected sales of $6,000 in September, $10,000 in October, $16,000 in November, and $12,000 in December. Of the company’s sales, 20 percent are paid for by cash and 80 percent are sold on credit. Experience, shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December. Also assume Graham’s cash payments for November and December are $13,000 and $6,000, respectively. The beginning cash balance in November is $5,000, which is the desired minimum balance. Prepare a cash budget with borrowing needed or repayments for November and December. (You will need to prepare a cash receipts schedule first. ) 4-22. Solution: Graham Potato Company Cash Receipts Schedule |September |October |November |December | |Sales |$6,000 |$10,000 |$16,000 |$12,000 | |Credit sales (80%) |4,800 |8,000 |12,800 |9,600 | |Cash sales (20%) |1,200 |2,000 |3,200 |2,400 | |Collections in month after| | | | | |sales (40%) | | |3,200 |5,120 | |Collections two months | | | | | |after sa les (60%) | | |2,880 |4,800 | |Total cash receipts | | | | | | | | |$9,280 |$12,320 | Graham Potato Company (Continued) Cash Budget | |November |December | |Cash receipts |$ 9,280 |$12,320 | |Cash payments |13,000 |6,000 | |Net Cash Flow |(3,720) |6,320 |Beginning Cash Balance |5,000 |5,000 | |Cumulative Cash Balance |1,280 |11,320 | |Monthly Loan or (Repayment) |3,720 |(3,720) | |Cumulative Loan Balance |3,720 |-0- | |Ending Cash Balance |$ 5,000 |$ 7,600 | 23. Juan’s Taco Company has restaurants in five college towns. Juan wants to expand into Austin and College Station and needs a bank loan to do this. Mr. Bryan, the banker, will finance construction if Juan can present an acceptable three-month financial plan for January through March. Following are actual and forecasted sales figures: Actual |Forecast |Additional | | | |Information | |November |$120,000 |January |$190,000 |April forecast |$230,000 | |December |140,000 |February | 210,000 | | | | | |March | 230,000 | | | Of Juan’s sales, 30 percent are for cash and the remaining 70 percent are on credit. Of  credit sales, 40 percent are paid in the month after sale and 60 percent are paid in the second month after the sale. Materials cost 20 percent of sales and are paid for in cash. Labor expense is 50 percent of sales and is also paid in the month of sales. Selling and administrative expense is 5 percent of sales and is also paid in the month of sales. Overhead expense is $12,000 in cash per month; depreciation expense is $25,000 per month. Taxes of $20,000 and dividends of $16,000 will be paid in March. Cash at the beginning of January is $70,000, and the minimum desired cash balance is $65,000. For January, February, and March, prepare a schedule of monthly cash receipts, monthly cash payments, and a complete monthly cash budget with borrowings and repayments. 4-23. Solution: Juan's Taco Company Cash Receipts Schedule |November |December |January |February |March |April | |Sales |$120,000 |$140,000 |$190,000 |$210,000 |$230,000 |$230,000 | |Credit sales (70%) |84,000 |98,000 |133,000 |147,000 |161,000 |161,000 | |Cash sales (30%) |36,000 |42,000 |57,000 |63,000 |69,000 |69,000 | |Collections (month after credit sales) | | | | | | | |40% | |33,600 |39,200 |53, 200 |58,800 |64,400 | |Collections (two months after credit | | | | | | | |sales) 60% | | |50,400 |58,800 |79,800 |88,200 | |Total Cash Receipts | | |$146,600 |$175,000 |$207,600 | | 4-23. (Continued) Juan’s Taco Company Cash Payments Schedule | |January |February |March | |Payments for Material Purchases (20% of current month’s sales) |$ 38,000 |$ 42,000 |$46,000 | |Labor Expense (50% of sales) |95,000 |105,000 |115,000 | |Selling and Admin. Exp. 5% of sales) |9,500 |10,500 |11,500 | |Overhead |12,000 |12,000 |12,000 | |Taxes | | |20,000 | |Dividends | | |16,000 | |Total Cash Payments* |$154,500 |$169,500 |$220,500 | *The $25,000 of depreciation is excluded because it is not a cash expense. 4-23. (Continued) Juan’s Taco Company Cash Budget | |January |February |March | |Total Cash Receipts $146,600 |$175,000 |$207,600 | |Total Cash Payments | 154,500 | 169,500 | 220,500 | |Net Cash Flow |(7,900) |5,500 |(12,900) | |Beginning Cash Balance |70,000 |65,000 |67,600 | |Cumulative Cash Balance |62,100 |70,500 |54,700 | |Monthly Loan or (repayment) |2,900 |(2,900) |10,300 | |Cumulative Loan Balance |2,900 |-0- |10,300 | |Ending Cash Balance |$ 65,000 |$ 67,600 |$ 65,000 | 24. Hickman Avionics’s actual sales and purchases for April and May are shown here along with forecasted sales and purchases for June through September. |Sales |Purchases | |April (actual) |$410,000 |$220,000 | |May (actual) |400,000 |210,000 | |June (forecast) |380,000 |200,000 | |July (forecast) |360,000 |250,000 | |August (forecast) |390,000 |300,000 | |September (forecast) |420,000 |220,000 | The company makes 10 percent of its sales for cash and 90 percent on credit. Of the credit sales, 20 percent are collected in the month after the sale and 80 percent are collected two months later. Hickman pays for 40 percent of its purchases in the month after purchase and 60 percent two months after. Labor expense equals 10 percent of the current month’s sales. Overhead expense equals $15,000 per month. Interest payments of $40,000 are due in June and September. A cash dividend of $20,000 is scheduled to be paid in June. Tax payments of $35,000 are due in June a nd September. There is a scheduled capital outlay of $300,000 in September. Hickman Avionics’s ending cash balance in May is $20,000. The minimum desired cash balance is $15,000. Prepare a schedule of monthly cash receipts, monthly cash payments, and a complete monthly cash budget with borrowing and repayments for June through September. The maximum desired cash balance is $50,000. Excess cash (above $50,000) is used to buy marketable securities. Marketable securities are sold before borrowing funds in case of a cash shortfall (less than $15,000). 4-24. Solution: Hickman Avionics Cash Receipts Schedule | |April |May |June |July |Aug. |Sept. |Sales |$410,000 |$400,000 |$380,000 |$360,000 |$390,000 |$420,000 | |Credit Sales (90%) |369,000 |360,000 |342,00 |324,000 |351,000 |378,000 | |Cash Sales (10%) |41,000 |40,000 |38,000 |36,000 |39,000 |42,000 | |Collections (month after sale) 20% | | | | | | | | |73,800 |72,000 |68,400 |64,800 |70,200 | |Collections (second month after sale) 80% | | | | | | | | | | | | | | | | | | |295,200 |288,000 |273,600 |259,2 00 | |Total Cash Receipts | | |$405,200 |$392,400 |$377,400 |$371,400 | 4-24. (Continued) Hickman Avionics Cash Payments Schedule | |April |May |June |July |Aug. |Sept. |Purchases |$220,000 |$210,000 |$200,000 |$250,000 |$300,000 |$220,000 | |Payments (month after purchase—40%) | | | | | | | | | |88,000 |84,000 |80,000 |100,000 |120,000 | |Payments (second month after purchase—60%) | | | | | | | | | | | | | | | | | | |132,000 |126,000 |120,000 |150,000 |Labor Expense | | | | | | | |(10% of sales) | | |38,000 |36,000 |39,000 |42,000 | |Overhead | | |15,000 |15,000 |15,000 |15,000 | |Interest Payments | | |40,000 | | |40,000 | |Cash Dividend | | |20,000 | | | | |Taxes | | |35,000 | | |35,000 | |Capital Outlay | | | | | |300,000 | |Total Cash Payments | | |$364,000 |$257,000 |$274,000 |$702,000 | 4-24. (Continued) Hickman Avionics Cash Budget | |June |July |August |September | |Cash Receipts |$405,200 |$392,400 |$377,400 |$371,400 | |Cash Payments |364,000 |257,000 274,0 00 |702,000 | |Net Cash Flow |41,200 |135,400 |103,400 |(330,600) | |Beginning Cash Balance |20,000 |50,000 |50,000 |50,000 | |Cumulative Cash Balance |61,200 |185,400 |153,400 |(280,600) | |Monthly Borrowing or (Repayment) |– |– |– |*80,600 | |Cumulative Loan Balance |– |– |– |80,600 | |Marketable Securities Purchased |11,200 |135,400 |103,400 |– | | (Sold) | |– |– |250,000 | |Cumulative Marketable Securities |11,200 |146,600 |250,000 |– | |Ending Cash Balance |50,000 |50,000 |50,000 |50,000 | *Cumulative Marketable Sec. (Aug)$250,000 Cumulative Cash Balance (Sept)–280,600 Required (ending) Cash Balance 50,000 Monthly Borrowing–$80,600 25. Carter Paint Company has plants in nine midwestern states. Sales for last year were $100 million, and the balance sheet at year-end is similar in percentage of sales to that of previous years (and this will continue in the future). All assets (including fixed assets) and current liabilities will vary directly with sales. BALANCE SHEET (in $ millions) AssetsLiabilities and Stockholders’ Equity Cash$ 5Accounts payable$15 Accounts receivable15Accrued wages6 Inventory30Accrued taxes4 Current assets50 Current liabilities25 Fixed assets 40Notes payable30 Common stock15 Retained earnings 20 Total liabilities and Total assets$90 stockholders’ equity$90 Carter Paint has an aftertax profit margin of 5 percent and a dividend payout ratio of 30  percent. If sales grow by 10 percent next year, determine how many dollars of new funds are needed to finance the expansion. (Assume Carter Paint is already using assets at full capacity and that plant must be added. ) 4-25. Solution: Carter Paint Company [pic] [pic] [pic] [pic] [pic][pic] [pic] 26. Jordan Aluminum Supplies has the following financial statements, which are representative of the company’s historical average. Income Statement Sales$300,000 Expenses 247,000 Earnings before interest and taxes$ 53,000 Interest 3,000 Earnings before taxes$ 50,000 Taxes 20,000 Earnings after taxes$ 30,000 Dividends$ 18,000 Balance Sheet AssetsLiabilities and Stockholders’ Equity Cash $ 8,000Accounts payable$ 6,000 Accounts receivable20,000Accrued wages2,000 Inventory62,000Accrued taxes4,000 Current assets$ 90,000 Current liabilities$ 12,000 Fixed assets 100,000Notes payable10,000 Long-term debt20,000 Common stock80,000 Retained earnings68,000 Total liabilities and Total assets $190,000 stockholders’ equity$190,000 Jordan is expecting a 20 percent increase in sales next year, and management is concerned about the company’s need for external funds. The increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing stores. Among liabilities, only current liabilities vary directly with sales. Using the percent-of-sales method, determine whether Jordan Aluminum has external financing needs. (Hint: A profit margin and payout ratio must be found from the income statement. ) 4-26. Solution: Jordan Aluminum Supplies [pic] Change in Sales = 20% ? $300,000 = $60,000 Spontaneous Assets = Current Asserts = Cash + Acc. Rec. + Inventory Spontaneous Liabilities = Acc. Payable + Accr. Wages + Accr. Taxes [pic] The firm needs $1,200 in external funds. 27. Cambridge Prep Shops, a national clothing chain, had sales of $200 million last year. The business has a steady net profit margin of 12 percent and a dividend payout ratio of 40 percent. The balance sheet for the end of last year is shown below. Balance Sheet End of Year (in $ millions) AssetsLiabilities and Stockholders’ Equity Cash$ 10Accounts payable$ 15 Accounts receivable15Accrued expenses5 Inventory50Other payables40 Plant and equipment 75Common stock30 Retained earnings 60 Total liabilities and Total assets$150 stockholders’ equity$150 Cambridge’s marketing staff tells the president that in this coming year there will be a large increase in the demand for tweed sport coats and various shoes. A sales increase of 15 percent is forecast for the Prep Shop. All balance sheet items are expected to maintain the same percent-of-sales relationships as last year*, except for common stock and retained earnings. No change is scheduled in the number of common stock shares outstanding, and retained earnings will change as dictated by the profits and dividend policy of the firm. (Remember the net profit margin is 12 percent. ) a. Will external financing be required for the Prep Shop during the coming year? b. What would be the need for external financing if the net profit margin went up to 14  percent and the dividend payout ratio was increased to 70 percent? Explain. * This included fixed assets are the firm is at full capacity. 4-27. Solution: Cambridge Prep Shops a. [pic] [pic] [pic] [pic] A negative figure for required new funds indicates that an excess of funds ($3. 06 mil. ) is available for new investment. No external funds are needed. b. [pic] [pic] The net profit margin increased slightly, from 12% to 14%, which decreases the need for external funding. The dividend payout ratio increased tremendously, however, from 40% to 70%, necessitating more external f

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Think again. Cigarette companies will have you believing anything just as long as you continue to buy their products. The fact is, although insoluble tars are a contributing factor to the lung cancer danger present in today's cigarettes, the real danger is radioactivity. According to U.S. Surgeon General C. Everette Koop (on national television, 1990) radioactivity, not tar, accounts for at least 90% of all smoking related lung cancer. Tobacco crops grown in the United States are fertilized by law with phosphates rich in radium 226. In addition, many soils have a natural radium 226 content. Radium 226 breaks down into two long lived 'daughter' elements lead 210 and polonium 210. These radioactive particles become airborne, and attach themselves to the fine hairs on tobacco leaves. Studies have shown that lead 210 and polonium 210 deposits accumulate in the bodies of people exposed to cigarette smoke. Data collected in the late 1970's shows that smokers have three times as much of these elements in their lower lungs as non smokers. Smokers also show a greater accumulation of lead 210 and polonium 210 in their skeletons,though no studies have been conducted to link these deposits with bone cancer. Polonium 210 is the only component of cigarette smoke which has produced tumors by itself in inhalation experiments with animals. When a smoker inhales tobacco smoke, the lungs react by forming irritated areas in the bronchi. All smoke produces this effect. However, although these irritated spots are referred to as 'pre-cancerous' lesions, they are a perfectly natural defense system and usually go away with no adverse effects. Insoluble tars in tobacco smoke can slow this healing process by adhering to lesions and causing additional irritation. In addition, tobacco smoke causes the bronchi to constrict for long periods of time, which obstructs the lung's ability to clear itself o... Free Essays on Maryjane Free Essays on Maryjane Think again. Cigarette companies will have you believing anything just as long as you continue to buy their products. The fact is, although insoluble tars are a contributing factor to the lung cancer danger present in today's cigarettes, the real danger is radioactivity. According to U.S. Surgeon General C. Everette Koop (on national television, 1990) radioactivity, not tar, accounts for at least 90% of all smoking related lung cancer. Tobacco crops grown in the United States are fertilized by law with phosphates rich in radium 226. In addition, many soils have a natural radium 226 content. Radium 226 breaks down into two long lived 'daughter' elements lead 210 and polonium 210. These radioactive particles become airborne, and attach themselves to the fine hairs on tobacco leaves. Studies have shown that lead 210 and polonium 210 deposits accumulate in the bodies of people exposed to cigarette smoke. Data collected in the late 1970's shows that smokers have three times as much of these elements in their lower lungs as non smokers. Smokers also show a greater accumulation of lead 210 and polonium 210 in their skeletons,though no studies have been conducted to link these deposits with bone cancer. Polonium 210 is the only component of cigarette smoke which has produced tumors by itself in inhalation experiments with animals. When a smoker inhales tobacco smoke, the lungs react by forming irritated areas in the bronchi. All smoke produces this effect. However, although these irritated spots are referred to as 'pre-cancerous' lesions, they are a perfectly natural defense system and usually go away with no adverse effects. Insoluble tars in tobacco smoke can slow this healing process by adhering to lesions and causing additional irritation. In addition, tobacco smoke causes the bronchi to constrict for long periods of time, which obstructs the lung's ability to clear itself o... 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A Language Killer Essay Example for Free

A Language Killer Essay ? It is undeniable that English language is a powerful language. It is spoken in most part of the world especially in developed countries for instance the United States, Great Britain, and Canada. This is an inescapable process of globalization, the process of extending social relations across world-space. Globalization leads to the commonness of English in several fields such as science, technology, economy, politic etc. The result of this is English dominating the world and disregarding minority languages. That is why English language is often named as â€Å"a killer language† that wipes out smaller languages and their cultures by exclusive use. The phenomenon of the exclusive use of English is caused by the attitude of a person or a community toward English. This attitude cannot be directly observed, it can be seen from the expression of positive or negative feeling toward it. This attitude may enable a language to grow and prosper or to decay and die. In this case, while English as a global language is growing, other minority languages are dying. The prominent reason for English dominating the world is positive feeling of speakers toward it which reflects in degree of importance, elegance, and social status. For instance in the degree of importance, English holds an important role in education, technology, politic and economy. The speakers of it feel that it is important to be able to speak and understand English because a wide range of information is provided in English. Beside there is a common believe in countries where English is spoken as a second or foreign language that knowing English makes people clever, to speak English is all we needed, when someone speaks English we think he is educated, when someone speaks English it creates a good impression for him, speaking English helps to get a job, people who speak English have more friends, people would like to be considered as a speaker of English, if they have children they want them to speak English, and they feel sorry for people who cannot speak English. I myself also feel the same ways. Those kinds of feeling lead English become a dominating language on earth. The consequence of this attitude is English as international language will spread widely. English becomes such a need which is required to be fulfilled in today’s life. Everyone has to be able to understand English, both orally and written. While this is happening, on the other parts of the world there are some less powerful languages which are trying to survive or even dead. Regarding to this phenomenon, UNESCO classifies languages as follows: When the number of people speaking a language is actively growing, it is considered healthy. When children are no longer taught a language, it is considered endangered. When a language is spoken by only a handful of elderly people, it is considered moribund. When no one at all speaks a language as a first language, it is considered extinct. It is so sad to know that from thousands of languages on earth; almost half of people of the world speak one of six dominant languages, English, Mandarin Chinese, Hindustani, Spanish, Russian, and Arabic. The other small languages are left behind. It is very important to preserve languages in terms of protecting any cultures. If it not, the world will become monotonous. Even if English language is very influential, we should maintain our identity, our nationality, that we have our own language that we can be proud of. Language will just die if the people will obviously no longer use it, but preserving it is one way of showing to the whole world how united we are as a nation because language is a keystone of culture. A Language Killer. (2016, Oct 03).

Critical Thinking Application Paper Essay Example | Topics and Well Written Essays - 500 words

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