Premium Essay

Pawnshop Operation


Submitted By vic2x
Words 15306
Pages 62
Pawnshops have been around in one form or another for the past 3,000 years. They offer services similar to those of modern banking institutions including loans, consignments, and storage. A good pawn broker buys items for a reasonable price and sells them at a discount. The pawn industry is about making money, and that means repeat business and reasonable dealings.
A good pawnshop will carry a variety of items including jewelry, tools, antiques, furniture, knives, guns, crossbows, camping gear, and everything and anything you could imagine being of value and sellable. Some pawn shops even buy and sell cars, motorcycles, and aircraft.
In the Philippines Pawnshop Operation is guided/ covered by Presidential Decree No. 114 Sec. 1-2 as:
This decree may be cited as the Pawnshop Regulation Act, which stipulated according to that: “ It is hereby declared the policy of the State to regulate the establishment of pawnshops and to place their operation on a sound and stable basis to derive the optimum advantages from them as an additional source of credit; to prevent and mitigate, as far as practicable, practices prejudicial to public interest; and to lay down the minimum requirements and standards under which they may be established and do business...”

The word "pawn" comes from the Latin word "pignus," which means to pledge. When someone has an item of worth on which they would like to receive a monetary loan, they take that item to a broker who receives it as a pledge (aka collateral or pawn) in exchange for money. A pawn shop serves as that kind of broker.
Pawn shops have existed since ancient times, and are arguably humankind's oldest financial institution. In China, the history of pawn-broking can be traced back some 3000 years, where it was regulated by Imperial authorities. In India the practice

Similar Documents

Premium Essay

Term Paper

...Algebra 1: Simplifying Algebraic Expressions Lesson Plan for week 2 Age/Grade level: 9th grade Algebra 1 # of students: 26 Subject: Algebra Major content: Algebraic Expressions Lesson Length: 2 periods of 45 min. each Unit Title: Simplifying Algebraic Expressions using addition, subtraction, multiplication, and division of terms. Lesson #: Algebra1, Week 2 Context This lesson is an introduction to Algebra and its basic concepts. It introduces the familiar arithmetic operators of addition, subtraction, multiplication, and division in the formal context of Algebra. This lesson includes the simplification of monomial and polynomial expressions using the arithmetic operators. Because the computational methods of variable quantities follows from the computational methods of numeric quantities, then it should follow from an understanding of basic mathematical terminology including the arithmetic operators, fractions, radicals, exponents, absolute value, etc., which will be practiced extensively prior to this lesson. Objectives • Students will be able to identify basic algebraic concepts including: terms, expressions, monomial, polynomial, variable, evaluate, factor, product, quotient, etc. • Students will be able to simplify algebraic expressions using the four arithmetic operators. • Students will be able to construct and simplify algebraic expressions from given parameters. • Students will be able to evaluate algebraic expressions. • Students...

Words: 692 - Pages: 3

Free Essay

Constructing Formulas for Mathematical Operations in Excel (Basic Tips and Techniques)

...Constructing Formulas for Mathematical Operations in Excel (Basic Tips and Techniques) Michelle A. Applequist Computer Information Systems (CIS105) Professor Hari Dhungana Strayer University September 1, 2009 Constructing Formulas for Mathematical Operations in Excel Microsoft Excel uses formulas to construct mathematical operations in a worksheet. After data have been entered into the worksheet, you can perform calculations, analyze data, and create charts. An Excel formula (calculations you create) and functions (formulas pre-existing in Excel) calculates the data entered in the worksheet. Formulas calculate numbers in a particular order. “Excel has one of the most comprehensive set of formulas, not only to perform calculations but also to manage data and records. It also has the ability to instantaneously re-calculate the results as the raw data changes” (Khoo, 2006-9, para. 2). To construct a formula after you have entered data, you must click in the cell that you want the results to appear in, and then type the formula. You can construct formulas by using the sum function, and editing numbers in a cell. It is stated that: Sum is an Excel function—a prewritten formula. Sum indicates the type of calculation that will take place (addition). When the sum function is activated, Excel looks above the active cell for a range of cells to sum. If there is no range above the cell, Excel will look to the left for a range of cells to...

Words: 694 - Pages: 3

Free Essay

Mathematical Operations of Gs1140 Numbers and Simplifying Algebraic Expressions

...Mathematical Operations of Numbers and Simplifying Algebraic Expressions Section A.: Mathematical Operations of Numbers 1.) 8+((12+5) x 4)/2= 8+(17x4)/2= 8+68/2= 8+34= 42 2.) ((3+4)²+4)-2= (7²+4)-2= (49+4)-2= 53-2= 51 3.) ((12+7)+(8/4)²) (19)+(2)² 19+4 23 4.) ½ + ¼ - ⅓= 6/12+3/12-4/12= 9/12-4/12= 5/12 5.) 2/3 x 3/5 = Multiply straight across 2/3 x 3/5 = 6/15 Find common denominator Reduce to lowest term 6/15 ÷ 3/3 = 2/5 6.) ⅓ ÷ ½ = Multiply by reciprocal ⅓ x 2/1= 2/3 7.) 3/2 ÷ ( 1/5 + 6/10) = 3/2 ÷ (2/10 + 6/10) = 3/2 ÷ 8/10 = Multiply by reciprocal 3/2 x 10/8 = 30/16 = 15/8 = 1 7/8 Section B.: Simplifying Algebraic Expressions 1.) 2x + 3x - 5x + x = 5x - 5x + x = 0 + x = x 2.) 2(6x + 5) = 2(6x) + (2x5) = 12x + 10 = 3.) (14x - 7) /7 = 14x - 7 ÷ 7 = 14x ÷ 7 = 2x -7 ÷ 7 = -1 2x - 1 4.) -(-15x) - 3x = 15x - 3x = 12x 5.) 5(3x+4) - 4 = 15x + 20 - 4 = 15x + 16 = 6.) 5(3x-2)+12x = 15x -10+12x = 27x - 10 = 7.) 4(2y-6)+3(5y+10) = 8y-24+15y+30 = 23y-24+30 = 23y+6= 8.) (x+1) (x-2) = Multiply the first 2, outside 2, inside 2, last 2 xx - 2x + 1x - 2 = xx - 2x + x - 2...

Words: 252 - Pages: 2

Premium Essay

Pt1420 Unit 6 Assignment

...This week’s material is pretty easy to learn. My learning strategy stayed the same from last week; read the reading material, look at the optional video lectures, answer the discussion question, program the programming assignment, take the self-quiz, etc. … I appreciate learning about the for … each loop. I’m plenty familiar with the for loop, which iterates for a set number of loops, uses initialization, a continue condition, and updating at the top of its block; but, the for … each control structure is a alternative to for. The for .. each loop control structure does not have as complicated continue conditions, and iterates the length of the data structure. I want to master the for .. each loop because it processes a data structure better then the for loop. I interacted with people in the discussion forum. This week’s question asked students to detail the for , and for … each control structure, and include the enum data structure in the explanation. I posted a discussion post, complete with programming examples of each data structure, but there are not enough other student responses to assess. I’ll keep looking for other students to post their discussion assignment, as I need to assess three student discussion posts. This week, I feel it will be helpful to master the for .. each, while, and do … while control structures. Often, I use the for loop, and select case / switch, but the other loops escape my programming toolbox. This week, I learned how to program with while...

Words: 601 - Pages: 3

Premium Essay


...Aaron Sura June 2, 2014 Wiley plus exercise Question 1. (a). $181,500 (b). $41,200 (c). 38,000 (d). 19,200 (e). 9,500 (f). 63,400 Question 3. In its first month of operation, Maze Company purchased 100 units of inventory for $6, then 200 units for $7, and finally 150 units for $8. At the end of the month, 180 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. The company uses the periodic method. FIFO: $1,410 150 units multiplied by $8 equals $1,200 30 units multiplied by $7 equals $210 $1,200 plus $210 equals $1,410 LIFO: $1,160 100 units multiplied by $6 equals $600 80 units multiplied by $7 equals $560 $600 plus $560 equals to $1,160 Therefore, the phantom profit would be $250 if the company were to use the FIFO rather than LIFO. Question 4. Compute the lower of cost or market valuation for O'Connor's inventory. 12,500(camera)+9,000(camcorders)+12,800(DVD’s)= $34,300 Question 5. Establishment of responsibilities: Only cashiers may operate registers. Segregation of duties: The duties of receiving cash, recording cash, and having custody of cash are assigned to different individuals. Independent and internal verifications: Daily cash counts are made by cashier department supervisors. Human resource control: All cashiers are bonded Physical controls: All over-the-counter receipts are registers. Question 6. Segregation of duties: 3 Establishment of responsibilities:...

Words: 259 - Pages: 2

Premium Essay

Earth Buddy

...yDylan Dissanayake Student ID : 15223568 Session 1 : Earth Buddy 10/01/12 Q1. How many Earth Buddies can Ben count on producing in one shift? How many if the factory works 2 shifts? Three shifts? How many if it operates three shifts a day, seven days a week? Which operation is the bottleneck? TASK | TIME | NUMBER OF OPERATORS | a.BUDDIES/HR | b.BUDDIES/SHIFT | c.BUDDIES/ "2" SHIFTS | d.BUDDIES/ "3" SHIFTS | e.BUDDIES/ "3" SHIFTS - 7 DAYS | FILLING | 1.5 | 6 | 240 | 1680 | 3360 | 5040 | 35280 | MOULDING | 1.6 | 3 | 225 | 1575 | 3150 | 4725 | 33075 | EYES | 1.2 | 2 | 300 | 2100 | 4200 | 6300 | 44100 | EYE GLASS | 1.2 | 1 | 300 | 2100 | 4200 | 6300 | 44100 | PAINTING | 1.5 | 1 | 240 | 1680 | 3360 | 5040 | 35280 | PACKING | 1.98 | 2 | 363 | 2541 | 5082 | 7623 | 53361 | a. Buddies/hr =          60minutes x Operators                                  time/task b. Buddies/shift =      60minutes x Operators x Productive hrs                                  time/task  c. Buddies/ 2 shifts = 60minutes x Operators x Productive hrs x No. Of Shifts                                  time/task d. Buddies/ 3 shifts = 60minutes x Operators x Productive hrs x No. Of Shifts                                  time/task e. Buddies/ 3 shifts = 60minutes x Operators x Productive hrs x No. Of Shifts x Days     7 Days                   time/task Bottleneck = Lowest output (Moulding) Theoretical Capacity/hr = Operators x         60min                    ...

Words: 991 - Pages: 4

Premium Essay

Optimization 7th Edition Sollution

...MATHEMATICAL PROGRAMMING - INDR. 363 (1) 2011 FALL Class Meeting Location ENG Z27 Class Meeting Times TH B3,TU B3 Instructor Office Hours Office Location Office Phone Email Web Address Number of Credits ETC Credit Prerequisites Language ONUR KAYA W 14:00-16:00 ENG 206 1583 3 6 INDR. 262 English Assistant TA/RA/Lab Assistant Name AYLİN LELİZAR POLAT GÜLÇİN ERMİŞ Email Office Hours Office Location Course Description Introduction to modeling with integer variables and integer programming; network models, dynamic programming; convexity and nonlinear optimization; applications of various optimization methods in manufacturing, product design, communications networks, transportation, supply chain, and financial systems. Course Objectives The course is designed to teach the concepts of optimization models and solution methods that include integer variables and nonlinear constraints. Network models, integer, dynamic and nonlinear programming will be introduced to the students. Students will be exposed to applications of various optimization methods in manufacturing, product design, communications networks, transportation, supply chain, and financial systems. Several different types of algorithms will also be presented to solve these problems. The course also aims to teach how to use computer programs such as Matlab and GAMS to solve mathematical models. Learning Outcomes Students are expected to model...

Words: 768 - Pages: 4

Premium Essay

Oprations Management

...Supplement E • Linear Programming Supplement E TRUE/FALSE 1. Linear Programming Linear programming is useful for allocating scarce resources among competing demands. Answer: True Reference: Introduction Difficulty: Easy Keywords: linear programming, scarce resources, competing demands A constraint is a limitation that restricts the permissible choices. Answer: True Reference: Basic Concepts Difficulty: Moderate Keywords: constraint, limit Decision variables are represented in both the objective function and the constraints while formulating a linear program. Answer: True Reference: Basic Concepts Difficulty: Moderate Keywords: constraint, decision variable, objective function A parameter is a region that represents all permissible combinations of the decision variables in a linear programming model. Answer: False Reference: Basic Concepts Difficulty: Moderate Keywords: parameter, decision variable, feasible region In linear programming, each parameter is assumed to be known with certainty. Answer: True Reference: Basic Concepts Difficulty: Moderate Keywords: parameter, assumption, certainty The objective function Maximize Z = 3x + 4y is appropriate for linear programming. Answer: False Reference: Basic Concepts Difficulty: Moderate Keywords: linearity, assumption, proportionality 2 2. 3. 4. 5. 6. 199 Copyright ©2010 Pearson Education, Inc. Publishing as Prentice Hall Supplement E • Linear Programming 7. One assumption of linear programming...

Words: 8485 - Pages: 34

Premium Essay


...Multiple-product & Various Truck Capacities Cross-docking Problem Introduction Customer demands are getting more complicated and even harder to be satisfied nowadays. It is highly needed for the company to have such flexibility, agility and reliability in terms of answering the demand requests from their customers. But their limitations in improving customer satisfaction might be a big problem for them and the operation of single company can have a bad impact on those of the other companies in the supply chain, meaning that if one company fails to fulfill the demands required, it will affect the related companies and obviously will put them in jeopardy in terms of customers trust and the cost they would have to spend. Therefore, improving supply chain management is really attractive for those companies looking to efficiently improve their customer satisfaction. Apte and Viswanathan (2000) stated that distribution process is responsible for 30% of an item price and this is the reason why there are a lot of companies trying their very best to develop new distribution strategies in order to manage their product flow in efficient manner. Cross docking is definitely one of those strategies people believe to be an efficient strategy to minimize inventory and to reduce cycle times. Apte and Viswanathan (2000) also defined cross docking as the continuous process to the final destination through the cross-dock storing products and materials in the distribution center. When cross-docking...

Words: 1829 - Pages: 8

Premium Essay

Managing Activities

...Introduction Companies these days have been facing issue of globalization, sometimes with positive impact and sometimes as a challenge. That is why they have to come up with ideas to overcome these challenges. Management activities are being a facet of this increasingly complex society and the organization are bred from this organization. Management of a company is responsible for the accomplishment of organizational goals, plans and control. Management activities are controlling work, result reviewing, objectives settling, motivational environment stimulating and providing inclusive. British Airways is one of the greatest airlines company in the entire Europe that is made up of other merger smaller air transport companies since 1935. They are the best flyers taking their consumers to their designated places with an image of one of world’s leading premium airlines. The main business headquarter is placed at London and most of its are flight are held from Heathrow, Gatwick and London City airport. They are also worldcalls cargo service providers striding parallel with its passengers services. British Airways being one of the greatest growing airlines services with its partners in franchise, they have flights to more than 300 locations worldwide every day. As per the data of 2009/10 more than 32 million consumers were served by this company. They are one of the biggest enhancers of the UK economy giving prominent artilleries of investment and trade, covering up the business...

Words: 3551 - Pages: 15

Premium Essay


...1. Vostick Filter Company is a distributor of air filters to retail stores. It buys its filters from several manufacturers. Filters are ordered in lot sizes of 1000 and each order costs $40 to place. Demand from retail stores is 20,000 filters per month, and carrying cost is $.10 a filter per month. a. What is the optimal order quantity with respect to so many lot sizes? b. What would be the optimal order quantity if the carrying cost were $.05 a filter per month? c. What would be the optimal order quantity if ordering costs were $10? 2. To reduce production start-up costs, Bodden Truck Company may manufacture longer runs of the same truck. Estimated savings from the increase in efficiency are $260,000 per year. However, inventory turnover will decrease from eight times a year to six times a year. Costs of goods sold are $48 million on annual basis. If the required rate of return on investment in inventories is 15%, should the company instigate the new production plan? 3. The Hedge Corporation manufactures only one product: planks. The single raw material used in making planks is the dint. For each plank manufactured, 12 dints are required. Assume that company manufactures 150,000 planks per year, that demand for planks is perfectly steady throughout the year, that it costs $200 each time dints are ordered, and that carrying costs are $8 per dint per year. a. Determine the economic order quantity of dints. b. What are the total inventory...

Words: 273 - Pages: 2

Free Essay

Assignments on Organizational Management

...OPERATIONS MANAGEMENT : ASSIGNMENTS “Chandralok” is a canteen facility catering to all the students studying at the various institutions of the MIT Group. Students of the OM course are required to spend some time observing the operations of Chandralok , first hand , to enable them do the following 3 assignments, during the second term. Assignment No. 1 : Study the “Facility Layout“ of the canteen , from an operations management angle and answer the following. 1) Your comments on the existing layout. 2) Can the operations be improved with a change in the layout? How? 3) What are the constraints you find in implementing your suggestions for a layout change? Are they real? Are they surmountable? Assignment No. 2 : Study the segments catered to by Chandralok Canteen. Study the arrival pattern and the arrival rates of customers. Make a document of at least a days record, and answer the following. 1) How long does it take, on an average, to serve a customer? What factors does it depend on? 2) What will the average waiting time at the different slots / eating times? 3) What is the expected length of the queue? Any suggestions for reducing this? Assignment No.3: You are trying to introduce a special item, say Samosa, in the canteen’s menu. You know that it can be stored for sale only for about 8 hours from the time of making. Thus whatever not sold by evening is wasted. Observe the actual happenings over a few days (this activity can...

Words: 331 - Pages: 2

Premium Essay

Week 6

...A look at linear programming, using the simplex method Earlier in the class we were introduced to linear programming and now we are going to introduce a different method using a more geometric version called the simplex method. First, I am going to have to explain theory of the simplex method and then we’ll explain the real world uses of this algebraic math Ok, so earlier in the class we were introduced into liner equations and inequalities. With the simplex method we are going got look for what is called “The Optimum Solution”, but in order to find the optimum solution we need to change the linear equation so that it can be recognized differently and computer in geometric form as well as on our graph. We are now going to use a special matrix or TABLEAU to find the many variables and to solve for an optimum solution by substituting some of our variables into our sometimes large programming problem. I must say that the problem could sometimes result in a solution or it may also have no solution at all. Once we find that some of the test are confirmed with the simplex method and we come to the optimal solution the process itself stops. With this method we don’t have to consider that the amount of corner point will increase with the amount of variables, since we are only looking for the optimal solution. In the text we are given many examples of what this simplex method of linear programming problems. As I have read throughout the chapters I see that the most probable applications...

Words: 406 - Pages: 2

Premium Essay


...Limitations of Using Quantitative Business Analysis: Quantitative methods presume to have an objective approach to studying research problems, where data is controlled and measured, to address the accumulation of facts, and to determine the causes of behavior. As a consequence, the results of quantitative research may be statistically significant but are often humanly insignificant. Some specific limitations associated with using quantitative methods to study research problems in the social sciences include: • Quantitative data is more efficient and able to test hypotheses, but may miss contextual detail; • Uses a static and rigid approach and so employs an inflexible process of discovery; • The development of standard questions by researchers can lead to "structural bias" and false representation, where the data actually reflects the view of the researcher instead of the participating subject; • Results provide less detail on behavior, attitudes, and motivation; • Researcher may collect a much narrower and sometimes superficial dataset; • Results are limited as they provide numerical descriptions rather than detailed narrative and generally provide less elaborate accounts of human perception; • The research is often carried out in an unnatural, artificial environment so that a level of control can be applied to the exercise. This level of control might not normally be in place in the real world thus yielding "laboratory results" as opposed...

Words: 1091 - Pages: 5

Premium Essay

Linear Programming

...METHODS/ APPROACH This scheduling problem can be solved most expeditiously using linear programming. Let F denote the number of full-time employ- ees. Some number, F1, of them will work one hour of overtime between 5 PM and 6 PM each day and some number, F2, of the full- time employees will work overtime between 6 PM and 7 PM. There will be seven sets of part-time employees who begin their work day at hour j=j␣1,2,...,7,withP1beingthenumberofworkers beginning at 9 AM, P2 at 10 AM, . . . , P7 at 3 PM. Note that because part-time employees must work a minimum of four hours, none can start after 3 PM because the entire operation ends at 7 PM. Similarly, some number of part-time employees, Qj, leave at the end of hour j, j 4, 5, . . . , 9. The workforce requirements for the first two hours, 9 AM and 10 AM, are: F P1 14 F P1 P2 25 At 11 AM half of the full-time employees go to lunch; the remaining half go at noon. For those hours: 0.5F P1 P2 P3 26 0.5F P1 P2 P3 P4 38 Starting at 1 PM, some of the part-time employees begin to leave. For the remainder of the straight-time day: F P1 P2 P3 P4 P5 −Q4 55 F P1 P2 P3 P4 P5 P6 −Q4 −Q5 60 F P1 P2 P3 P4 P5 P6 P7 −Q4 −Q5 −Q6 51 F P1 P2 P3 P4 P5 P6 P7 −Q4 −Q5 −Q6 −Q7 29 For the two overtime...

Words: 993 - Pages: 4