World famous Burpee Beer is brewed in the small town of West Burpee. Curently, the town of West Burpee levies a $2 per-case tax on all Burpee Beer, and the brewery sells 20,000 cases a year at a total price of $20 per case. The mayor of West Burpee has decided to erect a statue of himself in the town square at a cost of $20,000 and wants to raise the money from additional tax revenue from sales of Burpee Beer. He has asked each of the three town council members to come up with a plan to raise the additional $20,000, and their plans are as follows: Council Member Simpson advises increasing the per-case tax by $1, Council member Milhouse advises raising the tax by $2 per case, and council member Flanders advises reducing the current tax by $0.50 per case. For each of the three council member's plans, determine the following:

a. How many total cases of beer would need to be produced in to increase tax revenue by exactly $20,000?

b. What is the price elasticity of demand for Burpee Beer if the tax revenue increases by exactly $20,000?

c. How much total revenue will Burpee Beer receive if the tax revenue increases by exactly $20,000?

1. The theory of monopoly assumes that the monopoly firm

faces a downward-sloping supply curve that is the same as its marginal revenue curve.

faces a downward-sloping demand curve.

produces more than the perfectly competitive firm under identical demand and cost conditions.

produces a product for which there are many close substitutes.

none of the above

2. A single-price monopolist is a monopolist that sells each unit of its output for the same price to all its customers. Assume that a single-price monopolist sets its price for good X at $75 and is selling more than one unit of good X. Which of the following must be true?

The average cost of that unit must be $75.

The marginal cost of that unit must be $75.

The marginal revenue of that unit must be $75.

The marginal revenue of that unit must be less than $75

3. A single-price monopolist is a firm that sell each unit of its output for the same price to all its customers. At the level of output at which a single-price monopolist maximizes profit, price is

equal to marginal cost.

equal to marginal revenue.

greater than marginal cost.

less than marginal cost.

less than marginal revenue.

2019 is the first year of operation for Flitz Company. Applicable tax rates enacted by the end of 2018 are as follows:2019 25%2020 20%2021 and later 30%Compute the amount of deferred taxes to appear on the balance sheet at 12/31/19 with proper classifications, prepare the journal entry to record income tax expense for 2019, and show the current and deferred portions of income tax expense on the income statement for 2019.(a) In 2019 Flitz had pre-tax financial income of $450,000.(b) Pre-tax financial income was different from taxable income due to the following:Depreciation, the straight-line method for financial purpose while MACRS is used for tax purpose 35,000(tax-deductible in 2019, expense in 2020 20,000 in 2021 15,000)Fine for pollution 8,000(not tax-deductible, expense in 2019) Revenue received in advance 14,000(taxable 2019, revenue in 2020)Revenue from investment on equity method for financial purpose and cost method is used for tax purpose 10,000(revenue in 2019, taxable in 2020) Litigation accrual 80,000(expense in 2019, tax-deductible in 2022)Interest received on municipal bonds 6,000(revenue in 2019, not taxable)

Alsup Consulting sometimes performs services for which it receives payment at the conclusion of the engagement, up to six months after services commence. Alsup recognizes service revenue for financial reporting purposes when the services are performed. For tax purposes, revenue is reported when fees are collected. Service revenue, collections, and pretax accounting income for 2020–2023 are as follows: Service Revenue Collections Pretax Accounting Income 2020 $ 688,000 $ 648,000 $ 214,000 2021 778,000 806,000 288,000 2022 738,000 730,000 256,000 2023 744,000 748,000 228,000 There are no differences between accounting income and taxable income other than the temporary difference described above. The enacted tax rate for each year is 25%. (Hint: You will find it helpful to prepare a schedule that shows the balances in service revenue receivable at December 31, 2020–2023.) Required: 1. to 3. Prepare the appropriate journal entries to record Alsup's 2021 income taxes, 2022 income taxes and 2023 income taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.)

Can I have the answer for that please urgently

Arrasmith Corporation uses customers served as its measure of activity. During February, the company budgeted for 36,800 customers, but actually served 27,200 customers. The company uses the following revenue and cost formulas in its budgeting, where q is the number of customers served:

Revenue: $5.30q

Wages and salaries: $35,000 + $1.64q

Supplies: $1.04q

Insurance: $12,200

Miscellaneous expenses: $8,200 + $0.48q

The company reported the following actual results for February:

Required:

Prepare the company's flexible budget performance report for February. Label each variance as favorable (F) or unfavorable (U). (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

The accounting records of Clay?'s Appliances included the following balances at the end of the? period:

Estimated Warrenty Payable

Sales Revenue

Warranty Expense

In the? past,Clay?'s warranty expense has been 7% of sales. During the current period?, the business paid $4,000 to satisfy the warranty claims.

(The accounts to choose from in a-b are Accounts payable, Cash, Estimated warranty payable, Sales Revenue, Sales tax payable, and Warranty expense.)

a) Journalize Clay?'s warranty expense

b) Journalize the warranty payments

c) Show what the company would report on its income statement at the end of the period. (Choose from Estimated warranty payable, Sales Revenue, and Warranty Expense.)

d) Show what the company would report on its balance sheet at the end of the period. (Choose from Current Assets, Current Liabilities, Estimated warranty payable, Sales Revenue, and Warranty expense.)

e) Which data item will affect Clay?'s current? ratio? (Choose from Estimated warranty payable, Sales revenue, and Warranty expense.)

f) Will Clay?'s current ratio increase or decrease as a result of an increase in the item from (e)

Projecting NOPAT and NOA Using Parsimonious Forecasting Method

Following are Cisco Systems’ sales, net operating profit after tax (NOPAT), and net operating assets (NOA) for its year ended July 31, 2016 ($ millions).

Use the parsimonious method to forecast Cisco’s sales, NOPAT, and NOA for years 2017 through 2020 using the following assumptions.

Rounding instructions:

Round total revenue "unrounded" to two decimal places.

Round total revenue "rounded", NOPAT and NOA answers to the nearest whole number.

For NOPAT and NOA computations, use total revenue "rounded".

Cost Estimation:

Anna Marinez, manager of the Dos Coyotes restaurant, wants to see whether her new advertising campaign is working to increase sales. She obtained the following data for the last nine months.

1-What is the incremental revenue per dollar of advertising?

2-What is revenue in the absence of advertising?

3-What are expected revenues with $180,000 of advertising?

4- You have been asked to comment on the results. You observe that the effect of advertising on revenue is an insufficient analysis. After all, increased revenues bring increased costs for food, beverages, and waitstaff salaries. You find the following information about the restaurant's profitability without advertising.

5-What is the minimum revenue required for a dollar of advertising?

Alsup Consulting sometimes performs services for which it receives payment at the conclusion of the engagement, up to six months after services commence. Alsup recognizes service revenue for financial reporting purposes when the services are performed. For tax purposes, revenue is reported when fees are collected. Service revenue, collections, and pretax accounting income for 2017–2020 are as follows:

There are no differences between accounting income and taxable income other than the temporary difference described above. The enacted tax rate for each year is 40%.

(Hint: You may find it helpful to prepare a schedule that shows the balances in service revenue receivable at December 31, 2017–2020.)

Required:
1. Prepare the appropriate journal entry to record Alsup's 2018 income taxes, Alsup’s 2019 income taxes and Alsup’s 2020 income taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.)

Record 2018,2019,2020and income taxes

Companies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Company Cars (1,000s) Revenue ($ millions) Company A 11.5 116 Company B 10.0 133 Company C 9.0 98 Company D 5.5 35 Company E 4.2 42 Company F 3.3 32 (a) Develop a scatter diagram with the number of cars in service as the independent variable. A scatter diagram has 6 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Cars in Service (1,000s). The vertical axis ranges from 0 to 160 and is labeled: Annual Revenue ($ millions). The points are plotted from left to right in an upward, diagonal direction starting from the lower left corner of the diagram and are between 3 to 12 on the horizontal axis and between 40 to 150 on the vertical axis. The fifth point from the left is noticeably higher on the diagram than both the fourth and sixth points from the left. The 3 leftmost points and the 3 rightmost points have a large amount of space between them. A scatter diagram has 6 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Cars in Service (1,000s). The vertical axis ranges from 0 to 160 and is labeled: Annual Revenue ($ millions). The points are plotted from left to right in an upward, diagonal direction starting from the lower left corner of the diagram and are between 3 to 12 on the horizontal axis and between 30 to 140 on the vertical axis. Each consecutive point is higher on the diagram than the previous point. The 3 leftmost points and the 3 rightmost points have a large amount of space between them. A scatter diagram has 6 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Cars in Service (1,000s). The vertical axis ranges from 0 to 160 and is labeled: Annual Revenue ($ millions). The points are plotted from left to right in a downward, diagonal direction starting from the upper left corner of the diagram and are between 3 to 12 on the horizontal axis and between 30 to 140 on the vertical axis. The second point from the left is noticeably higher on the diagram than both the first and third points from the left. The 3 leftmost points and the 3 rightmost points have a large amount of space between them. A scatter diagram has 6 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Cars in Service (1,000s). The vertical axis ranges from 0 to 160 and is labeled: Annual Revenue ($ millions). The points are plotted from left to right in an upward, diagonal direction starting from the lower left corner of the diagram and are between 3 to 12 on the horizontal axis and between 30 to 140 on the vertical axis. The fifth point from the left is noticeably higher on the diagram than both the fourth and sixth points from the left. The 3 leftmost points and the 3 rightmost points have a large amount of space between them. (b) What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? There appears to be a negative linear relationship between cars in service (1,000s) and annual revenue ($ millions). There appears to be no noticeable relationship between cars in service (1,000s) and annual revenue ($ millions). There appears to be a positive linear relationship between cars in service (1,000s) and annual revenue ($ millions). (c) Use the least squares method to develop the estimated regression equation that can be used to predict annual revenue (in $ millions) given the number of cars in service (in 1,000s). (Round your numerical values to three decimal places.) ŷ = (d) For every additional car placed in service, estimate how much annual revenue will change (in dollars). (Round your answer to the nearest integer.) Annual revenue will increase by $ , for every additional car placed in service. (e) A particular rental company has 7,000 cars in service. Use the estimated regression equation developed in part (c) to predict annual revenue (in $ millions) for this company. (Round your answer to the nearest integer.) $ million