# U.S. residents accounted for over 75 percent of cruise ship passengers, and U.S. ports had 8 million passengers leaving on cruises in 2004. The growth in cruise travel was phenomenal after the terrorist attacks on September 11, 2001. According to a situational analysis, this event created an _____ for the industry.

Explanation:

External opportunities are legal, political, economical, social, technological, environmental and cultural factors that may benefit an organization. External opportunities are beyond the control the organization.

In the scenario illustrated, the act of terrorism in the United States on 11th September 2001, led to a growth in cruise travel. This is an example of external opportunity as the growth wasn't caused by an internal factor.

## Related Questions

A machine that cost \$400,000 has an estimated residual value of \$40,000 and an estimated useful life of four years. The company uses straight-line depreciation. Calculate its book value at the end of year 3What is the Book Value?A machine that cost \$400,000 has an estimated residual value of \$40,000 and an estimated useful life of 20,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,000 hours in year 1, 8,000 hours in year 2, and 6,000 hours in year 3.Calculate its book value at the end of year 3.A machine that cost \$400,000 has an estimated residual value of \$40,000 and an estimated useful life of four years. The company uses double-declining-balance depreciation.Calculate its book value at the end of year 3.

a) The machine's book value at the end of year 3, using the straight-line method, is \$130,000.

b) The machine's book value at the end of year 3, using the units-of-production method, is \$94,000.

b) The machine's book value at the end of year 3, using the double-declining-balance method, is \$50,000.

### Data and Calculations:

Cost of machine = \$400,000

Estimated residual value = \$40,000

Depreciable amount = \$360,000 (\$400,000 - \$40,000)

Estimated useful life = 4 years

### 1. Straight-line method:

Annual depreciation expense  = \$90,000 (\$360,000/4)

Accumulated depreciation after three years = \$270,000 (\$90,000 x 3)

The book value after three years = \$130,000 (\$400,000 - \$270,000)

### 2. Units-of-production depreciation:

Estimated useful life = 20,000 machine hours

Total hours that the machine ran in three years = 17,000 hours

Depreciation expense per machine hour = \$18 (\$360,000/20,00)

Accumulated depreciation = \$306,000 (\$18 x 17,000)

The book value after three years = \$94,000 (\$400,000 - \$306,000)

### 3. Double-declining-balance depreciation:

Annual depreciation rate = 50% (100/4 x 2)

First-year depreciation expense = \$200,000 (\$400,000 x 50%)

Second-year depreciation expense = \$100,000 (\$200,000 x 50%)

Third-year depreciation expense = \$50,000 (\$100,000 x 50%)

Accumulated depreciation = \$350,000

The book value after three years = \$50,000 (\$400,000 - \$350,000)

\$205,600

\$50,000

Explanation:

Depreciation expense using the straight line depreciation method = (Original cost of asset - Salvage value) / useful life

Depreciation expense = ( \$400,000 - \$40,000) / 4 = \$90,000

Net book value for year 1 =\$400,000 - \$90,000 = \$310,000

Net book value for year two = \$310,000 - \$90,000 = \$220,000

Net book value for year 3 = \$220,000 - \$90,000 = \$130,000

Deprecation expense using the unit of production method = [ (Original cost of asset - Salvage value) / total estimated productive capacity] × actual productive use of asset

(\$400,000 - \$40,000) / 20,000 = \$18

Depreciation expense for year 1 = \$18 × 3000 =\$54,000

Net book value for year 1 = \$400,000 - \$54,000 = \$346,000

Depreciation expense for year 2 = \$18 × 1800 = \$32,400

Net book value for year two = \$346,000 - \$32,400 = \$313,600

Depreciation expense for year 3 = \$18 × 6000 = \$108,000

Net book value for year three = \$313,600 - \$108,000 = \$205,600

In the double declining method = 2 × (1/number of years ) =2 × (1÷4) = 0.5

Deprecation expense using the double declining method = 0.5 × net book value

Depreciation expense for year 1 = 0.5 × \$400,000=\$200,000

Net book value for year 1 = \$400,000 -\$200,000=\$200,000

Depreciation expense for year two = \$200,000 × 0.5 = \$100,000

Net book value for year two = \$200,000 - \$100,000 = \$100,000

Depreciation expense for year 3 = \$100,000 × 0.5 =\$50,000

Net book value for year three = \$100,000 - \$50,000 = \$50,000

Sterling Company paid \$1,200 for 3 months of rent on April 1 of the current year. On April 30, Sterling Company made an adjusting entry to account for the rent that expired during the month of April. The adjusting entry contained a debit to Rent Expense in the amount of \$ Blank 1 of 3 and a credit to Prepaid Rent in the amount of \$ Blank 2 of 3. The remaining balance in the Prepaid Rent account after the adjustment was

\$800

Explanation:

The computation of the remaining balance in the Prepaid Rent account after the adjustment was is shown below:-

Remaining balance = Prepaid rent - Rent expense

= \$1,200 - (\$1,200 × (1 ÷ 3))

= \$1,200 - \$400

= \$800

Therefore for computing the remaining balance in the Prepaid Rent account we simply applied the above formula.

Sterling Company should debit Rent Expense and credit Prepaid Rent by \$400 for April. The remaining balance in the Prepaid Rent account after the adjustment would be \$800.

### Explanation:

Sterling Company has prepaid its rent for 3 months, which means that \$1,200 is paid for the months of April, May, and June. To calculate the monthly rent, divide the total by the number of months, so each month costs \$1,200 / 3 = \$400. Therefore, at the end of April, Sterling Company should debit Rent Expense and credit Prepaid Rent by \$400 to account for the rent that expired during April. After this transaction, the balance in the Prepaid Rent account would be \$1,200 - \$400 = \$800, which is the prepaid rent for May and June that is not used yet. The adjusting entry records the expiration of prepaid expenses and increases the accuracy of the financial statements.

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Suppose that the salary range for recent college graduates with a bachelor's degree in economics is \$30,000 to \$50,000, with 25 percent of jobs offering \$30,000 per year, 50 percent offering \$40,000 per year and 25 percent offering \$50,000 per year and that in all other respects, the jobs are equally satisfying. Assume that in this market, a job offer remains open for only a short time so that continuing to search requires an applicant to reject any current job offer. If this scenario describes job searches in general, the segment of the population that is most risk-averse will tend to earn:

The  Expected Earning for the college graduates is 40,000

Explanation:

The Expected Earning for a college alum with a four year college education in financial matters is determined as weighted normal all things considered, utilizing likelihood of every result as its weight.

Although the Expected Earning is;

Expected Earning = (25% × 30,000) + (50% × 40,000) + (25% × 50,000)

Expected Earning = 0.25 × 30,000 + 0.5 × 40,000 + 0.25 × 50,000

Expected Earning = 7500 + 20,000 + 12,500

Expected Earning = 40,000

On January 1, 2021, Tropical Paradise borrows \$46,000 by agreeing to a 6%, five-year note with the bank. The funds will be used to purchase a new BMW convertible for use in promoting resort properties to potential customers. Loan payments of \$889.31 are due at the end of each month with the first installment due on January 31, 2021. Required:
Record the issuance of the installment note payable and the first two monthly payments.

Issuance: Installment Note Payable \$46,000; First two payments: Interest Expense \$230.00, Installment Note Payable \$659.31 each month.

On January 1, 2021, Tropical Paradise records the issuance of a 6%, five-year installment note payable with a principal amount of \$46,000. This note is obtained from the bank to finance the purchase of a BMW convertible for promotional purposes related to resort properties. The terms of the loan stipulate monthly payments of \$889.31, with the first installment due on January 31, 2021.

For the first two monthly payments:

1. The Interest Expense is calculated based on the outstanding balance of the loan and the interest rate. In the first month, the interest is \$46,000 * 6% / 12 = \$230.00.

2. The remaining amount of the monthly payment is applied to reduce the principal, recorded as a repayment of the Installment Note Payable. The principal repayment is \$889.31 - \$230.00 = \$659.31.

This process repeats in the second month, with the interest recalculated based on the remaining balance, and the remaining amount again applied to reduce the principal. These entries reflect the gradual repayment of both interest and principal over the life of the loan.

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Journal entry

Explanation:

The Journal entry is shown below:-

1. Cash Dr,                                            \$46,000

To Notes payable                                         \$46,000

(Being issuance of notes is recorded)

2. Interest expense Dr,                     \$230

Notes payable Dr,                              \$659.31

To Cash                                                   \$889.31

(Being payment of first installment is recorded)

3. Interest expense Dr,                   \$226.70

Notes payable Dr,                           \$662.61

To Cash                                                  \$889.31

Working note :-

First installment interest expenses

= \$46,000 × 6% × 1 month ÷ 12 month

= \$230

Second installment interest expenses

= (\$46,000 - \$659.31) × 6% × 1 month ÷ 12 month

= \$45,340.68 × 6% × 1 ÷ 12

= \$226.70

Which of the following is not an important question to ask when developing a data collection plan?a. Who will be responsible for collecting the data?
b. What is the source of the data?
c. What is the reason for collecting the data?
d. Is it possible to make decisions without collecting data?

d. Is it possible to make decisions without collecting data?

Explanation:

There is no need for such a question since you are already requested to begin developing a data collection plan.

However, questions related to who will be responsible for collecting the data are important as they enable you to properly plan. Also, knowing the source of the data and the reason for collecting the data are important questions.

Data collection plan is used to collect data in order to make decision while collecting the data, one should not ask whether the decision can be taken without collecting data.

### What is a data collection plan?

It is a thoughtful approach used to collect the baseline data as well as data which guides to the root cause. The plan includes questions like: How, When, Where and From whom the data is collected.

The questions not asked while developing  a data collection plan is whether it's possible to make decisions without collecting data.

Therefore, option d appropriately describes the above statement.

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A widely used activity base for developing factory overhead rates in highly automated settings is a.machine hours b.direct materials c.direct labor hours d.direct labor dollars

a. machine hours

Explanation:

Machine hours -

It is the measurement adapted to apply factory overhead to the manufactured goods , is referred to as machine hours .

In the field of machine environment ,

the time consumed for processing the machine is the maximum .

In case there is lesser machines in the company , the labor hours would be more .

Hence , from the given information of the question,

The correct option is a. machine hours  .