Give an example of an adjusting journal entry for each of the following transactions-

Equal growth of an expense and a liability.

Earning of revenue that was previously recorded as unearned revenue.

Equal growth of an asset and revenue.

Increase in an expense and decrease in an asset.

Here are some true and false questions to see if you understand the revenue and profit terms and the three key rules to maximize profit. Briefly explain why you chose that answer

1)If a firm sells 200 units of its product at a price of 8 dollars, its total profit will be 1600.

2)If the average revenue from 150 units is 20 dollars, the firm's total revenue is 3000 dollars.

3)If the marginal revenue from the 21st unit is 30 dollars, then the total revenue from 22 units is 30 dollars greater than the total revenue from 21 units

4) As long as MR is greater than MC, a firm's total profit will increase if it increases its level of output.

Assume Nortel Networks contracted to provide a customer with Internet infrastructure for $2,450,000. The project began in 2018 and was completed in 2019. Data relating to the contract are summarized below: 2018 2019 Costs incurred during the year $ 336,000 $ 1,870,000 Estimated costs to complete as of 12/31 1,344,000 0 Billings during the year 446,000 1,710,000 Cash collections during the year 268,000 1,795,000 Required: 1. Compute the amount of revenue and gross profit or loss to be recognized in 2018 and 2019 assuming Nortel recognizes revenue over time according to percentage of completion. 2. Compute the amount of revenue and gross profit or loss to be recognized in 2018 and 2019 assuming this project does not qualify for revenue recognition over time. 3. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2018 assuming Nortel recognizes revenue over time according to percentage of completion. 4. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2018 assuming this project does not qualify for revenue recognition over time.

Compute the amount of revenue and gross profit or loss to be recognized in 2018 and 2019 assuming Nortel recognizes revenue over time according to percentage of completion

Compute the amount of revenue and gross profit or loss to be recognized in 2018 and 2019 assuming this project does not qualify for revenue recognition over time.

Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2018 assuming Nortel recognizes revenue over time according to percentage of completion.

Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2018 assuming this project does not qualify for revenue recognition over time.

Calculus
The marketing department for a cell phone telephone company has determined that the demand for their phone obeys the following relationship: p= -0.02+200 , (0 ≤ p ≤10,000) , where p denotes the phone’s unit price (in dollars) and x the quantity demanded. This type of question is much easier when you use your calculator, I just need to know what you did when you give me an answer using it,
(a) Express the revenue as a function of x: Round all of the following answers to the nearest penny when necessary.
(b) Find the rate of change in the revenue between the 2,000th and 4,000th phone.
(c) Find the rate in change of revenue from the sale of the 5,118th phone.
(d) Find the exact revenue from the sale of the 815th telephone.
(e) Use the marginal revenue function to estimate the revenue from the sale of the 815th phone. (f) Find the average revenue from the sale of 3000 phones.

1. When a business has a market share of 100% it is known as:

A. A competitive market

B. A monopoly

C. An oligopoly

D. Monopolistic competition

2. What happens in the long run in perfect competition?

A. Abnormal profits are earned

B. Businesses are allocatively inefficient

C. A firm produces where average revenue is greater than average cost

D. A firm produces where marginal revenue equals marginal cost

3. From the following, when do losses always occur?

A. Marginal revenue equals the price

B. Average revenue is less than average cost

C. Average revenue equals average cost

D. Marginal cost equals average cost

4. In a monopoly market...

A. there are no barriers to entry

B. abnormal profits are only earned in the short run

C. the demand curve for a business is downward sloping

D. a profit maximising business produces where average revenue equals marginal revenue

What is the management fee (1) on a per available room basis and (2) as a percentage of total revenue for a 255-room hotel located in California that had an occupancy level of 62%, ADR of $84.53, a room revenue to total revenue % of 56.4%, and a gross operating profit % of 24.8%? The management fee agreement stipulated that the company would receive 3% of gross revenue, and 10% of gross operating profit.

   Please calculate annual room revenue (round to two decimal places) $ ___

Annual total revenue (round to two decimal places) $ ___

GOP (round to two decimal places) $ ____

  Mgmt fee base fee (round to two decimal places) $ ___

  Mgmt fee incentive fee (round to two decimal places) $ ___

      Total mgmt fee (round to whole number) $ ___

Mgmt fee on PAR basis (round to two decimal places) $ ___ PAR/yea

Mgmt fee as % of total revenue (round to two decimal places) ___%

Demand: P = 100-2Qd+I

Supply: P = 15 + 3Qs

Suppose that consumer income (I) is 15. Using excel plot how the tax revenue changes as T increases. HINT: Revenue will be on your y axis and the tax (0,1,2,3,…) will be on your x-axis.  Find the revenue maximizing tax. What would be the tax revenue generated and the quantity of goods sold at this tax rate.

1.Consider an ad valorem tax on a luxury good such as cigars. Suppose the current tax rate is 75%. If the tax rate is increased to 100%, what will happen to government tax revenue?

Select one:

Government tax revenue will fall to zero

Government tax revenue will definitely decrease

Government tax revenue will likely decrease

Government tax revenue will likely increase

Government tax revenue will definitely increase

There is not enough information to tell

2.In Canada, income from capital gains receives special treatment. If the federal government eliminated the special treatment for income from capital gains:

Select one:

BC provincial government tax revenue would decrease

BC provincial government tax revenue would increase

BC provincial government tax revenue would be unaffected

There isn't enough information to tell

3.Consider the model of tax evasion that we learned in class, in which individuals may choose to underreport some amount of their income.

In this model, if government increases the penalties for tax evasion:

Select one:

Everyone will increase the amount of income that they underreport

Most (but not necessarily all) people will increase the amount of income that they underreport

Everyone will decrease the amount of income that they underreport

Most (but not necessarily all) people will decrease the amount of income that they underreport

There is not enough information to tell

Subject: BUSINESS POLICY

a. For each company listed below, compute Return on Sales (ROS),which reveals the portion of each revenue dollar that results in profit. ROS =Net income / Sales revenue.

b. Wal-Mart Stores has (greater /Iess) revenue than Microsoft, but Microsoft has a (higher / lower) ROS ratio than Wal-Mart. The ROS ratio for Microsoft indicates _____________ % of every revenue dollar resulted in profit (net income), but for Wal-Mart Stores only ____________ % of every revenue dollar resulted in profit. Ford Motor Company reports a (positive I negative) ROS,indicating (revenue / net income) is negative.

c. For Wal-Mart, _______________ cents of each revenue dollar went to pay for all of the costs of running the business, leaving _______________ cents of each revenue dollar for profit.

d. The corporation with the strongest ROSratio is (MSFT/ WMT/ F).

How can a company increase its ROSratio?

e. Does a low ROSratio indicate a weak corporation? (Yes/ No) Why?