Questions
Which of the following accounts will be included in a post-closing trial balance? a.Service Revenue b.Rent...

Which of the following accounts will be included in a post-closing trial balance?

a.Service Revenue

b.Rent Expense

c.Interest Expense

d.Unearned Revenue

In: Accounting

Explain in detail the shape of a perfectly competitive firm’s Total Revenue function and a monopoly's...

Explain in detail the shape of a perfectly competitive firm’s Total Revenue function and a monopoly's Total Revenue function. Explain why they are different.

In: Economics

Let x0=19, profit(19)=52, marginal profit(19+1)=4. Evaluate theapproximation of profit at x1=5. Round your answer to...

Let x0=19, profit(19)=52, marginal profit(19+1)=4. Evaluate the approximation of profit at x1=5. Round your answer to the nearest integer.

Let x0=60, revenue(60)=1,009, revenue(60+1)=1,018. Evaluate the approximation of revenue at x1=45. Round your answer to the nearest integer.

In: Economics

If a firm can sell as much as it wants at the going price, and loses...

If a firm can sell as much as it wants at the going price, and loses its entire sales if it raises the price above the going price:

Answers:

a) its marginal revenue is greater than the price at each quantity sold.

b) the average revenue curve is downsloping.

c) the average revenue curve is horizontal.

d) the demand curve is vertical.

In: Economics

5-b b. List and explain the 3 decision process questions confronting the producer in pure competition....

5-b b. List and explain the 3 decision process questions confronting the producer in pure competition.
1) Total Revenue = price*quantity(TR=P*Q)
2)Average Revenue = price (AR=P)
3)Marginal Revenue = price (MR=P)

Please help to explain these three aswers for the above question.

In: Economics

alpha lumber co. has the following short-run total costs: total explicit cost=$40,000 total implicit cost=$20,000 how...

alpha lumber co. has the following short-run total costs:
total explicit cost=$40,000
total implicit cost=$20,000
how profitable (economic profit, normal profit or economic loss) is the company in each of the following cases:
A. Total revenue=$65,000
B. Total revenue=$60,000
C. Total revenue=$55,000

In: Economics

Consider the role of the United States Treasury Department, the Internal Revenue Service, in International Taxation....

Consider the role of the United States Treasury Department, the Internal Revenue Service, in International Taxation. What do you think are the major obstacles facing the Internal Revenue Service as our markets continue to become more international? As you continue to evolve in our international markets, how might the Internal Revenue Service’s role change?

In: Accounting

On October 1, 2021, a company sells $800 of gift cards to customers. The gift cards...

On October 1, 2021, a company sells $800 of gift cards to customers. The gift cards expire one year from the date of sale. By October 1, 2022, $750 of the gift cards have been redeemed and the sales recorded at the time of redemption. What entry, if any, should the company record on October 1, 2022?

A) Debit Sales Revenue, $50; credit Cash, $50. B) Debit Cash, $750; credit Sales Revenue, $750. C) Debit Deferred Revenue, $50; credit Sales Revenue, $50. D) No journal entry is necessary.

In: Accounting

Scarlet makes an $18,750, 120-day, 8% cash loan to Greene Co. on November 1. Scarlet's end-of-period...

Scarlet makes an $18,750, 120-day, 8% cash loan to Greene Co. on November 1. Scarlet's end-of-period adjusting entry on December 31 should be:

Group of answer choices

A) Debit Cash for $250; credit Notes Receivable $250.

B) Debit Interest Revenue $500; credit Notes Receivable $500.

C) Debit Interest Receivable $250; credit Interest Revenue $250.

D) Debit Interest Receivable $500; credit Interest Revenue $500.

E) Debit Notes Receivable $500; credit Interest Revenue $500.

In: Accounting

A plane delivers two types of cargo between two destinations. Each crate of cargo I is...

A plane delivers two types of cargo between two destinations. Each crate of cargo I is 5 cubic feet in volume and 145 pounds in weight, and earns $35 in revenue. Each crate of cargo II is 5 cubic feet in volume and 290 pounds in weight, and earns $45 in revenue. The plane has available at most 425 cubic feet and 13,920 pounds for the crates. Finally, at least twice the number of crates of I as II must be shipped. Find the number of crates of each cargo to ship in order to maximize revenue. Find the maximum revenue.

In: Advanced Math