# Dudley is a manager at the SuperCuts franchise. He has had to fire two employees because they were treating walk-in customers with disdain and thus turning away business. Once those employees were gone, he trained new employees on how to greet customers. Business has been improving and he has realized how important personnel are for a retail business. What role do the personnel play at his SuperCuts franchise?

they are the interface between the brand and the customer

Explanation:

Based on the information provided within the question it can be said that the personnel in SuperCuts are the interface between the brand and the customer. The personnel are the ones that interact on a daily basis with the shoppers and provide all the information that they need regarding the SuperCut's brand in order to generate sales.

## Related Questions

Suppose that a 5-year Treasury bond pays an annual rate of return of 1.3%, and a 5-year bond of the fictional company Risky Investment Inc. pays an annual rate of return of 7.1%. The risk premium on the Risky Investment bond is __________ percentage points.Consider a decrease in the annual rate of return on the Risky Investment bond from 7.1 percent to 5.5 percent. Such a change would _________ the interest rate spread on the Risky Investment bond over Treasuries to ___________ .

Which of the following explains the decrease in the annual rate of return on the Risky Investment bond?

1. The expected default rate on the Risky Investment bond has decreased.
2. The expected default rate on the Treasury bond has increased.
3. The expected default rate on the Treasury bond has decreased.
4. The expected default rate on the Risky Investment bond has increased.

a. The risk premium on Risky Investment bond = 5.8

b. Such a change would decrease/reduce 4.2%

c. The expected default rate on the Risky Investment bond has decreased (1).

Explanation:

a. The risk premium on a risky investment is equal to the total return on a risky investment less the return on the risk free asset. The risky asset here gives an annual return of 7.1% while the risk free rate is 1.3%. So, the risk premium on the risky asset for additional risk is,

• 7.1 - 1.3 = 5.8%

b. A reduction in the annual return on the risky asset will decrease/reduce the interest rate spread which is equal to the difference between the return of the risky and risk free asset. The new spread will be equal to,

• 5.5 - 1.3 = 4.2%

c. The risk free rate is expected to be the same as no information is provided. Besides, a fall in annual rate of risky investment means that there is a reduction in the riskiness of such an investment and that would mean that there is a reduction in the default risk in turn leading to a reduction in compensation for default and the default rate.

The risk is made up of risk free + maturity risk + liquidity risk and default risk.

Adjusting and paying accrued wages LO P1Pablo Management has five part-time employees, each of whom earns \$90 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the five employees worked Monday, December 31, and Wednesday through Friday, January 2, 3, and 4. New Year's Day. (January 1) was an unpaid holiday.
1. Prepare the year-end adjusting entry for wages expenses.
2. Prepare the journal entry to record payment of the employees' wages on Friday, January 4, 2018.

1. Dr Wages expense \$450

Cr Wages payable \$450

2.Dr Wages expense \$1350

Dr Wages payable \$450

Cr Cash \$1800

Explanation:

1. Preparation of the year-end adjusting entry for wages expenses.

Dec 31

Dr Wages expense \$450

Cr Wages payable \$450

( 5 employees * \$90 per day)

(To record wages expenses)

2. Preparation of the journal entry to record payment of the employees' wages on Friday, January 4, 2018

Jan 4

Dr Wages expense \$1350

(3 days*5 employees*\$90=\$1350)

Dr Wages payable \$450

(5 employees * \$90 per day)

Cr Cash \$1800

(\$1350+\$450 =\$1800)

(To record payment of the employees' wages)

California Surf Clothing Company issues 1,000 shares of \$1 par value common stock at \$32 per share. Later in the year, the company decides to repurchase 100 shares at a cost of \$35 per share. Record the transaction if California Surf reissues the 100 shares of treasury stock at \$37 per share. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Explanation:

The journal entry is shown below:

Cash A/c Dr \$3,700

To Treasury Stock A/c \$3,500

To Additional Paid in Capital A/c \$200

(Being the reissued shares are recorded)

The computation is shown below:

For cash account:

= 100 shares × \$37 per share

= \$3,700

For Treasury Stock Account

= 100 shares × \$35 per share

= \$3,500

And, for Additional Paid in Capital Account

= \$3,700 - \$3,500

= \$200

For reissued shares, we debited the cash account and credited the treasury stock and Additional Paid-in Capital account

Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of \$10,000 not due for three years. The interest rate on the note is 7%. (FV of \$1, PV of \$1, FVA of \$1, PVA of \$1, FVAD of \$1 and PVAD of \$1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)

Canliss Mining Company borrowed \$41,006.

To find out how much Canliss Mining Company borrowed, we'll work step by step.

Future Value of \$1 (FV): This factor calculates the future value of a present sum after a certain number of periods.

Given that the annual installment payments of \$10,000 are not due for three years, we'll find the future value of this annuity.

The FV factor for 7% over three years is approximately 1.225.

So, the future value of the annuity is

Present Value of \$1 (PV): This factor calculates the present value of a future sum. In this case, we want to find out how much the \$12,250 due in three years is worth in present terms.

Using the PV factor for 7% over three years, we find it's approximately 0.816.

So, the present value is

This means that Canliss Mining Company borrowed approximately \$10,002 from the local bank.

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) A homeowner is considering putting solar panels on the roof of his house. The installed cost of putting 3 kW of solar panels is \$6000 and the panels come with a 25 year guarantee. The panels would be able to meet the average monthly electrical consumption of 850 kW-hrs for the house. a) If the homeowner has the \$6000 available for the project, what would the cost of electricity from the power company need to be greater than (\$/kW-hr) to make the project viable if other investments are providing 8% interest. (\$0.0545/kW-hr) b) If the homeowner had to borrow the \$6000 from the bank at 5% interest for 10 years (monthly payments) what would the cost of electricity need to be greater than in \$/kWhr from the power company to make the project viable if other investments are providing 8% interest. (\$0.0476/kW-hr)

a) If the homeowner has the \$6000 available for the project, what would the cost of electricity from the power company need to be greater than (\$/kW-hr) to make the project viable if other investments are providing 8% interest. (\$0.0545/kW-hr)

we can use the present value of an annuity formula:

PV = monthly savings x annuity factor

• PV = \$6,000
• Annuity factor, 300 periods, 0.6667% = 129.52005

monthly savings = \$6,000 / 129.52005 = \$46.3249

price of kW-hr = \$46.3249 / 850 = \$0.054499851 ≈ \$0.0545

b) If the homeowner had to borrow the \$6000 from the bank at 5% interest for 10 years (monthly payments) what would the cost of electricity need to be greater than in \$/kWhr from the power company to make the project viable if other investments are providing 8% interest. (\$0.0476/kW-hr)

the monthly payment to cover the loan = PV / annuity factor

• PV = \$6,000
• Annuity factor, 120 periods, 0.4167% = 94.28033

monthly payment = \$6,000 / 94.28033 = \$63.64

price of kW-hr = \$63.64 / 850 = \$0.074870588 ≈ \$0.0749

George has been selling 5,000 T-shirts per month for \$8.50. When he increased the price to \$9.50, he sold only 4,000 T-shirts. Which of the following best approximates the price elasticity of demand? -2.2 -1.8 -2 -2.6 Suppose George's marginal cost is \$5 per shirt. Before the price change, George's initial price markup over marginal cost was approximately . George's desired markup is . Since George's initial markup, or actual margin, was than his desired margin, raising the price was .

Answer: George's initial price markup over marginal cost was approximately 41.2% George's desired markup is 45% Since George's initial markup, or actual margin, was Less than his desired margin, raising the price was profitable

Explanation:

a) Price Elasticity of Demand = [(Q1-Q2)/(Q1+Q2)] / [(P1-P2)/(P1+P2)]

= 5000- 4000/4000+ 5000) /  8.50- 9.50 /8.50 ₊9.50 =

1000/8000 / -1/ 18 = 0.125/-0.055  = -2.2

George's initial price markup over marginal cost was approximately

when Marginal cost = \$5

b)initial price markup  = Price - marginal cost / price = 8.50 - 5.00/ 8.50 =   0.412=  41.2%

C) George's  desired margin = 1/absolute value of price elasticity = 1/ 2.2= 0.45= 45%

.

D)Since George's initial markup or actual margin was less  than his desired margin, raising the price is profitable.

This is because When the  markup is lower than the margin,  business is running on a loss, so it is nessesary to increase price.

The price elasticity of demand for George's T-shirts is approximately -1.7, indicating that demand is elastic. The initial markup over the cost price was 70%, but the question doesn't specify the desired markup or if raising the price satisfied that margin.

### Explanation:

The price elasticity of demand measures how sensitive the quantity demanded is to a price change. It's calculated as the percentage change in quantity demanded divided by the percentage change in price. In George's case:

•
• Initial quantity: 5000 T-shirts
•
• New quantity: 4000 T-shirts
•
• Initial price: \$8.50
•
• New price: \$9.50

So, the percentage change in quantity = (4000-5000)/5000 = -20% and percentage change in price = (\$9.50-\$8.50)/\$8.50 = 11.76%. Therefore, price elasticity of demand = -20%/11.76% = -1.7 (approx.). This indicates that the demand is elastic, meaning quantity demanded is sensitive to price changes.

Regarding the price markup, this is the percentage increase over the cost price. The initial markup = (\$8.50-\$5)/\$5 = 70%. The question didn't specify the desired markup, or if raising the price satisfied the desired margin.