he demand and cost function for a company are estimated to be as follows:

P=100−8QTC=50+80Q−10Q2+0.6Q3P=100-8QTC=50+80Q-10Q2+0.6Q3

1. What price should the company charge if it wants to maximize its profit in the short run?

2. What price should it charge if it wants to maximize its revenue in the short run?

3. Suppose the company lacks confidence in the accuracy of cost estimates expressed in a cubic equation and simply wants to use a linear approximation. Suggest a linear representation of this cubic equation. What difference would it make on the recommended profit-maximizing and revenue-maximizing prices?

TAXATION

IDENTIFICATION

9) These are facilities and privileges which are relatively of small value and are offered or furnished by the employer to employees merely as a means of promoting the health, goodwill, contentment or efficiency of employees.

10) This arises when two or more heirs or beneficiaries inherit an undivided property from a decedent, or when a donor makes a gift of an undivided property in favor of two or more donees.

TRUE OR FALSE: If the statement is FALSE, write FALSE and explain why.

1. The Commissioner of Internal Revenue can delegate the power to compromise or abate tax liability.

2.The BIR is under the control and supervision of the Commissioner of Internal Revenue.

JenCo showed the following trial balance information (in alphabetical order) for its first month just ended March 31, 2017:

Use the information provided to complete an income statement, statement of changes in equity, and balance sheet.

Chapter 18

Howard Construction Co. contracted to build a bridge for $3,000,000. Construction began in 2012 and was completed in 2013. Data relating to the construction are:

                                                                                                 2012              2013

            Costs incurred                                                     $990,000       $825,000

            Estimated costs to complete                                810,000                —

Howard uses the percentage-of-completion method.

Instructions:

        (a)           How much revenue should be reported for 2012?

        (b)          Make the entry to record progress billings of $1,000,000 during 2012.

        (c)            Make the entry to record the revenue and gross profit for 2012.

        (d)          How much gross profit should be reported for 2013?

        (e) Show the Balance Sheet Presentation for 2012.

A restaurant has the following table of values for some of its burrito sales during January from the previous 10 years

a. Find a cubic model for the price demand functions. What is the correlation coefficient?

b. Using your cubic model, find a model for the revenue

c. What price will the revenue be maximized

d. Does your answer from part c guarantee that the profit will be maximized? why or why not?

computer plz

The concept of present value is used to evaluate and make the investment decisions by investors. This criteria of discount rate and present value is used to make decision to select appropriate investment projects. If you have 2 investment projects with the same costs as the following:

First: For the first project total revenue at the end of every year is $1575 and the interest rate is 7.5%. Second: For second project, total revenue at the end of every year is $1750 and the interest rate is 15%.

Evaluate these two investment projects through 2 years period and decide which project is better to select.

Joshua company had the following information in 2016.

Accts Rec 12/31/16.....$15000

Allowance for uncollected account 12/31/16 (before adjustment).....$950

credit service revenue during 2016.....$45000

Cash service revenue during 2016.....$15000

Collections from customers on account during 2016.......$45000

If uncollectible accounts are determined by the​ aging-of-receivables method to be $ 1 240​, the uncollectible account expense for 2016 would be $ 290. Using the​ aging-of-receivables method, the balance of the Allowance account after the adjusting entry at​ year-end 2016 would be

Supply the missing dollar amounts for the 2017statement of earnings of Kwan Company for each of the following independent cases:

On January 1, 2017, Fulton Inc. enters into a contract with Gibson to deliver goods. Gibson pays $100,000 at the time the contract is signed, at which time the goods are transferred and Fulton’s performance obligation is complete. In addition, Gibson agrees to pay Fulton $100,000 on December 31, 2017, and December 31, 2018. If Fulton entered into a financing arrangement with Gibson it would charge an interest rate of 9%.

Required:

1. Determine the transaction price for the contract with Gibson.

Transaction price $ _______

2. Prepare the journal entries to record Fulton’s sales revenue on January 1 and interest revenue on December 31.

Suppose that land is specific to corn, capital is specific to automobiles, labor is mobile between sectors, and payments are as follows:
Automobiles: Sales revenue = 200; payments to labor = 100; payments to capital = 100
Corn: Sales revenue = 100; payments to labor = 40; payments to land = 60
Holding the price of automobiles constant, suppose the increase in the price of corn is 20% and the increase in the wage is 10%.
What is the impact of this on the income of land and the income of capital? What has happened to the real income of land? What has happened to the real income of capital? What has happened to the real income of labor?