What are the two basic methods used by airlines to calculate earned revenue? Briefly describe each. Cite a section of the FASB ASC to support your answer.
In: Accounting
Question 3
The revenue cycle affects the bottom line of the business critically. Hence, there are many threats that could derail a successful cycle. Describe 5 threats that may hinder this sequence and its compensating controls for each threat.
In: Accounting
Transfer payments and tax revenue are examples of:
Select one:
a. automatic stabilizers.
b. market transactions.
c. saving measures.
d. discretionary measures.
In: Economics
In: Economics
What are some of the risk of having multiple revenue drivers? Only one? How do volumes and margins interact?
In: Economics
Q1
Assuming a perfectly efficient and benevolent government (use your imagination!) that spends tax revenue to provide public services, please make one economic argument for and against a high-tax society, and one economic argument for and against a low-tax society. Please note that this isn't a political debate course, so please keep your answers in terms of economic concepts (consumer/producer surplus, utility, dead weight loss, etc.).
Q2
Working on a farm in the U.S., my family's labor and capital costs are higher than in other developing countries, but not as high as in other countries with more limited agricultural resources. As a result, our cost of production of wheat, for example, is $4 per bushel, whereas China might be able to produce wheat for $3 per bushel, and Great Britain can produce wheat at $5 per bushel. Please describe what would happen to U.S. producers and consumers if 1) international trade was prohibited; 2) a free trade agreement was signed with both countries for wheat; and 3) the U.S. imposed a $3 tariff per bushel of imported Chinese wheat; and 4) a $3 subsidy was given to Great Britain producers (lowering their cost of production to $2).
Please typing the Answers more than 500 words, and giving references.
In: Economics
|
A suburban hotel derives its revenue from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly basis and the revenue per day in the restaurant. Below is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and number of rooms occupied. |
| Day | Income | Occupied | Day | Income | Occupied | ||||||||||
| 1 | $ | 1,452 | 20 | 14 | $ | 1,425 | 31 | ||||||||
| 2 | 1,361 | 20 | 15 | 1,445 | 51 | ||||||||||
| 3 | 1,426 | 21 | 16 | 1,439 | 62 | ||||||||||
| 4 | 1,470 | 80 | 17 | 1,348 | 45 | ||||||||||
| 5 | 1,456 | 70 | 18 | 1,450 | 41 | ||||||||||
| 6 | 1,430 | 29 | 19 | 1,431 | 62 | ||||||||||
| 7 | 1,354 | 70 | 20 | 1,446 | 47 | ||||||||||
| 8 | 1,442 | 21 | 21 | 1,485 | 43 | ||||||||||
| 9 | 1,394 | 15 | 22 | 1,405 | 38 | ||||||||||
| 10 | 1,459 | 36 | 23 | 1,461 | 36 | ||||||||||
| 11 | 1,399 | 41 | 24 | 1,490 | 30 | ||||||||||
| 12 | 1,458 | 35 | 25 | 1,426 | 65 | ||||||||||
| 13 | 1,537 | 51 | |||||||||||||
Click here for the Excel Data File
| Use a statistical software package to answer the following questions. |
| b. |
Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.) |
| Pearson correlation |
|
State the decision rule for 0.01 significance level: H0: ρ ≤ 0; H1: ρ > 0 (Round your answer to 3 decimal places.) |
| Reject H0 if t > |
| Compute the value of the test statistic. (Round your answer to 2 decimal places.) |
| Value of the test statistic |
| c. |
Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.01 significance level. |
| (Click to select) Reject Fail to reject H0, There is a (Click to select) no correlation a negative correlation a positive correlation between revenue and occupied rooms. |
| d. |
What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied? (Round your answer to 1 decimal place.) |
| % of the variation in revenue is explained by variation in occupied rooms. |
In: Statistics and Probability
Presented here are the components in Crane Company’s income
statement.
Determine the missing amounts.
|
Sales Revenue |
Cost of Goods Sold |
Gross Profit |
Operating Expenses |
Net Income |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $ 71,210 | $enter a dollar amount | (b) | $ 31,800 | $enter a dollar amount | (d) | $15,490 | |||||||
| $108,100 | $70,200 | $enter a dollar amount | (c) | $enter a dollar amount | (e) | $30,580 | |||||||
| $enter a dollar amount | (a) | $74,490 | $110,270 | $49,420 | $enter a dollar amount | (f) |
In: Accounting
1For the revenue process which of the following document sequences is correct?
| Customer order, sales order, packing slip, bill of lading |
| Sales order, packing slip, customer order, bill of lading |
| Customer order, bill or lading, sales order, packing slip |
| Customer order, packing slip, sales order, bill of lading |
2
During the current year, ending inventory was higher under the LIFO method than under the FIFO method. Which of the following statements about price changes is true?
| Prices were unchanged. |
| Prices were increasing. |
| Unable to determine from the information given |
| Prices were decreasing. |
3
In times of rising prices, ______ generally result(s) in the ______ cost of goods sold.
| FIFO, higher |
| FIFO, lower |
| LIFO, lower |
| LIFO and FIFO, same |
In: Accounting
In: Economics