A market has four individuals, each considering buying a grill. Assume that grills come in only one size and model. Martina considers herself a grill-master, and finds a grill a necessity, so she is willing to pay $400 for a grill. Javier is a meat-lover, honing his grilling skills, and is willing to pay $350 for a grill. Kamal wants to impress his friends with his vegetable grilling skills and is willing to pay $320 for a grill. Lina loves grilled shrimp and thinks it might be cheaper in the long run if she grills her own shrimp instead of eating out at a restaurant, so she is willing to pay $200 for a grill. If the market price of grills is $300, who will participate in the market?

Answer:

Martina

Javier :

Kama

Explanation:

The people that would participate in the market are those whose willingness to pay is higher than the market price for the grill.

The willingness to pay is the highest amount a person would be willing to pay for a good

Martina : $400 > $300  would participate

Javier : $350 > $300 would participate

Kama : $320 > $300 would participate

Lina : $200 < $300 would not participate

Suppose it is decided that rent control in New York City will be abolished and that market rents will now prevail. Assume that all rental units are identical and so are offered at the same rent. To address the plight of residents who may be unable to pay the market rent, an income supplement will be paid to all low - income households equal to the difference between the old controlled rent and the new market rent. Are tenants better or worse off as a result of these policies?

The general ledger of Pipers Plumbing at January 1, 2018, includes the following account balances:
Accounts Debits Credits
Cash $ 4,500
Accounts receivable 9,500
Supplies 3,500
Equipment 36,000
Accumulated depreciation $ 8,000
Accounts payable 6,000
Utilities payable 7,000
Deferred revenue 0
Common stock 23,000
Retained earnings 9,500
Totals $ 53,500 $ 53,500
The following is a summary of the transactions for the year:_______.
1. January 24 Provide plumbing services for cash, $18,000, and on account, $63,000.
2. March 13 Collect on accounts receivable, $51,000.
3. May 6 Issue shares of common stock in exchange for $10,000 cash.
4. June 30 Pay salaries for the current year, $32,600.
5. September 15 Pay utilities of $6,200 from 2020 (prior year).
6. November 24 Receive cash in advance from customers, $9,200.
7. December 30 Pay $2,600 cash dividends to stockholders.
The following information is available for the adjusting entries.
Depreciation for the year on the machinery is $7,200.
Plumbing supplies remaining on hand at the end of the year equal $1,000.
Of the $9,200 paid in advance by customers, $6,600 of the work has been completed by the end of the year.
Accrued utilities at year-end amounted to $6,400.

Dalinda loves her BMW Z4 car. It handles well around corners and has plenty of kick to make driving a pleasure. She takes the Z4 in regularly to the BMW dealership shop for oil changes, maintenance, and services, and she continues to experience quality service each time. She trusts the brand and recommends purchasing BMW cars to her friends and family. What is the best way to describe what Dalinda’s collective brand experience with BMW?

Pirates Incorporated had the following balances at the beginning of September.
PIRATES INCORPORATED
Trial Balance
Accounts Debits Credits
Cash $5,500
Accounts Receivable 1,500
Supplies 6,600
Land 10,200
Accounts Payable 6,500
Notes Payable 2,000
Common Stock 8,000
Retained Earnings 7,300
The following transactions occur in September:
September 1 Provide services to customers for cash, $3,700.
September 2 Purchase land with a long-term note for $5,400 from Crimson Company.
September 4 Receive an invoice for $400 from the local newspaper for an advertisement that appeared on September 2.
September 8 Provide services to customers on account for $5,000.
September 10 Purchase supplies on account for $1,000.
September 13 Pay $3,000 to Crimson Company for a long-term note.
September 18 Receive $4,000 from customers on account.
September 20 Pay $800 for September's rent.
September 30 Pay September's utility bill of $1,500.
September 30 Pay employees $3,000 for salaries for the month of September.
September 30 Pay a cash dividend of $1,000 to shareholders.
Record each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

This article (Links to an external site.) suggests, based on significant evidence, that competition in US markets is not only constrained, but is becoming less so, as fewer companies dominate business (Links to an external site.). The high profits and rising stock markets we have seen recently are significantly linked to this, rather than to a more competitive economy. Our model of Supply & Demand is based on a model of perfectly competitive markets. If our markets are not competitive, how does that affect this model? Read the first article and the full Introduction (at least) to the Brookings study. Submit your answer in the box. It should be a few paragraphs long and include a reference to an additional academic-level outside evidence to back up what you are saying.

2. The buyer's prepaid expense is the seller's
Which revenue?

oca, Inc., manufactures and sells two products: Product M6 and Product X7. The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Activity Cost Pools Activity Measures Estimated MOH Cost Expected Activity Product M6 Product X7 Total Labor related DLH $152,100 3,000 4,800 7,800 Product orders orders $63,035 400 300 700 Order size Machine hours $505,452 3,700 3,600 7,300 The total overhead to be applied to Product X7 using activity-based costing is closest to:

The following transactions occurred during July: Received $940 cash for services provided to a customer during July. Received $2,800 cash investment from Bob Johnson, the owner of the business. Received $790 from a customer in partial payment of his account receivable which arose from sales in June. Provided services to a customer on credit, $415. Borrowed $6,400 from the bank by signing a promissory note. Received $1,290 cash from a customer for services to be performed next year. What was the amount of revenue for July

Lear Inc. has $940,000 in current assets, $420,000 of which are considered permanent current assets. In addition, the firm has $740,000 invested in fixed assets.
A. Lear wishes to finance all fixed assets and half of its permanent current assets with long-term financing costing 9%. The balance will be financed with short-term financing, which currently costs 5%. Lear’s earnings before interest and taxes are $340,000. Determine Lear’s earnings after taxes under this financing plan. The tax rate is 30%.
B. As an alternative. Lear might wish to finance all fixed assets and permanent current assets plus half of its temporary current assets with long-term financing and the balance with short-term financing. The same interest rates apply as in part a. Earnings before interest and taxes will be $340,000. What will be Lear's earnings after taxes? The tax rate is 30%.

Mrs. Cox, a head of household, earned a $313,000 salary and recognized a $29,300 net long-term capital gain this year. Use Individual tax rate schedules and Tax rates for capital gains and qualified dividends. Required: Compute the income tax on the gain if: (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) None of the gain is collectibles gain or unrecaptured Section 1250 gain. $10,000 is collectibles gain. $15,500 is unrecaptured Section 1250 gain. $1,700 is collectibles gain and $22,000 is unrecaptured Section 1250 gain.

Jing Company was started on January 1, Year 1 when it issued common stock for $36,000 cash. Also, on January 1, Year 1 the company purchased office equipment that cost $16,000 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $2,100. The equipment had a five-year useful life and a $5,800 expected salvage value. Using double-declining-balance depreciation, what the amount of depreciation expense and the amount of accumulated depreciation, respectively, that would appear on the December 31, Year 3 financial statements

The Wod Chemical Company produces a chemical compound that is used as a lawn fertilizer. The compound can be produced at a rate of 10,000 pounds per day. Annual demand for the compound is 0.6 million pounds per year. The fixed cost of setting up for a production run of the chemical is $1,500, and the variable cost of production is $3.50 per pound. The company uses an interest rate of 22 percent to account for the cost of capital, and the costs of storage and handling of the chemical amount to 12 percent of the value. Assume that there are 250 working days in a year.
A. What is the optimal size of the production run for this particular compound?
B. What proportion of each production cycle consists of uptime and what proportion consists of downtime?
C. What is the average annual cost of holding and setup attributed to this item? If the compound sells for $3.90 per pound, what is the annual profit the company is realizing from this item?

Foote Company recorded a purchase discount of $200 on merchandise the company had purchased on account a few days ago. Foote uses the perpetual inventory system. Which of the following answers reflects the effects of this event on the financial statements? Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Stockholders’ Equity Revenue − Expense = Net Income A. n/a (200) 200 200 n/a n/a 200 OA B. n/a (200) 200 200 n/a 200 n/a C. (200) (200) n/a n/a n/a n/a (200) OA D. (200) (200) n/a n/a n/a n/a n/a

Joni Metlock Inc. has the following amounts reported in its general ledger at the end of the current year.
Organization costs $22,300
Trademarks 12,700
Discount on bonds payable 35,300
Deposits with advertising
agency for ads to promote
goodwill of company 10,300
Excess of cost over fair
value of net identifiable
assets of acquired subsidiary 75,300
Cost of equipment acquired for
research and development projects;
the equipment has an alternative future use 85,300
Costs of developing a secret formula for a
product that is expected to be marketed for
at least 20 years 79,600
On the basis of this information, compute the total amount to be reported by Metlock for intangible assets on its balance sheet at year-end.

Financial statements of a manufacturing firm The following events took place for Rushmore Biking Inc, during February, the first month of operations as a producer of road bikes:
• Purchased $390,000 of materials.
• Used $353,000 of direct materials in production.
• Incurred $101,600 of direct labor wages.
• Applied factory overhead at a rate of 34% of direct labor cost.
• Transferred $463,900 of work in process to finished goods.
• Sold goods with a cost of $441,400.
• Revenues earned by selling bikes, $ 730,300.
• Incurred $148,500 of selling expenses.
• Incurred $72,200 of administrative expenses
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet
a. Prepare the income statement for Rushmore Biking for the month ending February 28.
Round your answers to the nearest dollar
Rushmore Biking Inc.
Income Statement
For the Month Ended February 28
Revenues
Cost of Goods Sold
Gross Profit Selling and Administrative Expenses:
Total Selling and Administrative Expenses

1. The art of being a good Chemical Engineer lies in being a good mathematician, a good chemist, and a good mechanic – all simultaneously. All three of these are required for determining optimum economics. Generally speaking, we concern ourselves with operating costs (i.e. the chemistry side) and capital costs (i.e. the mechanical side). What can decrease operating expenses will, most likely, increase capital expenses. When designing equipment, we MUST be able to reconcile these two. The sweet spot is usually at the intersection of two curves (i.e. the mathematician side). Suppose that Operating Expenses could be expressed by the equation: y = 0.5x + 0.15, and Capital Expenses could be expressed by y = 1.25x2 + 0.1. To determine the minimal costs, you must find the point of intersection (assuming that only positive roots are applicable). (Solve analytically and graphically.) NOTE: When solving graphically, use graphing paper. 2. As you will learn in your chemistry courses and the reactor design course, the rate at which a chemical reaction proceeds is very much dependent upon the reaction temperature.

Which people would make up a flight crew? (Select all that apply.)
O captain
flight engineer
O avionic mechanic
O co-pilot

A local government operates on a calendar-year basis. Prepare journal entries to record the following transactions and events for calendar year 2018.
1. On February 1, 2018, borrowed $400,000 on tax anticipation notes (TANs). The TANs will be repaid with 1.0 percent interest on January 31, 2019.
2. To prepare for issuing financial statements for 2018, accrue interest on the TANs through December 31, 2018
3. Invested $100,000 in a certificate of deposit (CD) on April 1, 2018. The CD, which pays interest of 0.8 percent, will mature on September 30, 2018.4. The CD matured on September 30, 2018.

Mrs. Nunn, who has a 24 percent marginal tax rate on ordinary income, earned $2,690 interest on a debt instrument this year. Required: Compute her federal income tax on this interest assuming that the debt instrument was: (Round your final answers to the nearest whole dollar amount.) An unsecured note from her son, who borrowed money from his mother to finance the construction of his home. A certificate of deposit from a federal bank. A 30-year General Electric corporate bond. A U.S. Treasury note. A City of Memphis municipal bond.

Donald owns a two-family home. He rents out the first floor and resides on the second floor. The following expenses attributable to the total building were incurred by Donald for the year ended December 31, 2016. Real estate taxes $1,800 Mortgage interest $1,200 Utilities $1,000 Repairs (first floor) $ 300 Painting (second floor) $ 400 In addition, the depreciation attributable to the entire building would be $2,000. What is the total amount of the expenses that Donald can deduct on Schedule E of Form 1040 (before any limitations)

Managers in nonprofit organizations must prioritize the needs of

Which of the following budgeting options increases the marketing budget by the rate of the company's inflation?


rule of thumb budgeting

objective and task budgeting

competitive budgeting

arbitrary budgeting

Consider, in 2010, there was only one movie produced by Marvel Studios(Iron Man 2). In 2018, there were three (Black Panther, Avengers: Infinity War, and Ant-Man and the Wasp).
a) Find a linear model that shows how many MCU films are made each year (use xx to be years since 2010) using the data above.
b) With the model found in (a), how many MCU films should release in 2020?

Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
1. Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation.
2. Purchased $500 of supplies on credit.
3. Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21,500, note payable.
4. Real estate commissions billed to clients amount to $4,000.
5. Paid $700 in cash for the current month's rent.
6. Paid $250 cash on account for office supplies purchased in transaction 2.
7. Received a bill for $800 for advertising for the current month.
8. Paid $2,500 cash for office salaries.
9. Paid $1,200 cash dividends to stockholders.
10.Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4.

XYZ Corporation has a 6 1/2% convertible bond outstanding that is convertible into 40 shares of common stock. The bond is currently selling in the market at 85 ($850) and the common stock is selling at 21. The XYZ Corporation is offering its existing bondholders a new straight (nonconvertible) bond paying 6 1/2% that matures at the same time as the convertible bond. The effect of the successful completion of the proposal would be to:_________
a) Reduce interest costs
b) Reduce potential dilution
c) Have no effect on interest costs
d) Increase dilution

Tonya operates a nail salon as a sole proprietorship. Tonya also owns and rents an apartment building. This year Tonya had the following income and expenses. Determine Tonya's AGI (rounded to the nearest dollar). You may assume that Tonya will owe $6,255 in self-employment tax on her salon income, with $3,128 representing the employer portion of the self-employment tax. You may also assume that her divorce from Ted was finalized in 2016.
Interest income $ 28,138
Interest expense on qualified loan to fund dependent son's college tuition 2,000
Salon sales and revenue 215,900
Salaries paid to beauticians 113,125
Nail salon supplies 58,500
Alimony paid to her ex-husband, Ted 15,000
Rental revenue from apartment building 78,050
Depreciation on apartment building 32,250
Real estate taxes paid on apartment building 27,750 Real estate taxes paid on personal residence 15,603 Contributions to charity 10,593

Zach attended Champion University during 2014-2018. He lived at home and was claimed by his parents as a deduction during the entire duration of his education. He incurred education expenses of $21,000 during college of which $3,780 was paid for by scholarships. To finance his education, he borrowed $12,500 through a federal student loan program and borrowed another $8,500 from a local lending institution for educational purposes. After graduation, he married and moved with his spouse to a distant city. In 2019, he incurred $1,250 of interest on the federal loans and $850 on the lending institution loan. He filed a joint return with his spouse showing modified AGI of $122,500. What amount of student loan interest can Zach and his spouse deduct in 2019, if any

Exercise 10-19 (LO. 4) Candlewood LLC started business on September 1, and it adopted a calendar tax year. During the year, Candlewood incurred $6,500 in legal fees for drafting the LLC's operating agreement and $3,000 in accounting fees for tax advice of an organizational nature, for a total of $9,500 of organizational costs. Candlewood also incurred $30,000 of preopening advertising expenses and $24,500 of salaries and training costs for new employees before opening for business, for a total of $54,500 of startup costs. The LLC wants to take the largest deduction available for these costs. If required, round any division to six decimal places and use in subsequent computations. Round your final answers to the nearest dollar. How much can Candlewood deduct as organizational expenses

In 2013, Space Technology Company modified its model Z2 satellite to incorporate a new communication device. The company made the following expenditures:
Basic research to develop the technology $ 2,000,000
Engineering design work 680,000
Development of a prototype device 300,000
Acquisition of equipment 60,000
Testing and modification of the prototype 200,000
Legal and other fees for patent application on the new
communication system 40,000
Legal fees for successful defense of the new patent 20,000
Total $ 3,300,000
The equipment will be used on this and other research projects. Depreciation on the equipment for 2013 is $10,000.
During your year-end review of the accounts related to intangibles, you discover that the company has capitalized all of the above as costs of the patent. Management contends that the device simply represents an improvement of the existing communication system of the satellite and, therefore, should be capitalized.
Required:
Prepare correcting entries that reflect the appropriate treatment of the expenditures.
1. Record the correcting entry to expense R&D costs incorrectly capitalized
2. Record the correcting entry to capitalize the cost of equipment incorrectly capitalized as a patent.
3. Record the correcting entry to record depreciation on equipment used in R&D projects.

Which of the following descriptions pertains to a "Cognitive" style of decision-making? Review Later Decisions derived from the needs, desires, preferences, and/or values of the individual making the decision. This type of decision-making is centered on the individual deciding. An integrated feedback system between the individual/organization making a decision, and the broader environment’s reactions to those decisions. This type of decision-making process involves iterative cycles and constant assessment of the reactions and impacts of the decision. In many ways, decision making (particularly in groups, such as within an organization) is about communicative rationality. This is to say that decisions are derived based on the ability to communicate and share logic, using the firm’s premises and conclusions to drive behavior. Two answers in this answer set are correct. None of the answers in this answer set are correct.