The ledger of Mai Company includes the following accounts with normal balances as of December 31: D. Mai, Capital $10,900; D. Mai, Withdrawals $1,750; Services Revenue $32,000; Wages Expense $17,900; and Rent Expense $5,400.

Prepare its December 31 closing entries.

discuss emerging trends in the use of Internet currency such as bitcoin and how this has or may lead to fraudulent activities. As part of this state how you think this currency may impact GAAP especially as related to revenue recognition rules. DO NOT COPY THE ANSWER FROM THE OTHER QUESTIONS!

Think of three goods for which the demand is inelastic with respect to price. Do these goods ever go on sale? Does understanding the relationship between elasticity and total revenue help you understand why some goods go on sale and others don’t? Share your thoughts.

Related to SOX, the SEC has decided to exempt smaller public companies with less than $100 million in annual revenue from the requirement for an attestation of their internal control over financial reporting by an outside auditor. Do you think this is a good or bad modification of the SOX requirements?

) You are still a government official. But now suppose you are taxing a good with elastic supply such as Uber drivers. a)Who will end of paying much of the tax – the consumers or the drivers?b)Why might imposing a tax on Uber drivers raise far less revenue than anticipated?

On your own words, explain the purpose and the importance of the income statement, and prepare the income statement for Max company based on the following information taken from the trial balance in December 2018

Revenue 70,000

Supplies expense 3,000

Rent expense 6,000

Wages expense 22,000

6. Consider two goods, x and y. Using budget lines and indifference curves show that a sales tax on good x is inferior to an income tax that yields the same amount of revenue

I need graphs too not just explanations of words please.

Thank you :)

You work for Alpha Inc., and you are estimating the annual operating cash flows for a proposed project with the following data. What is the Operating Cash Flow? (Show Calculation)

Revenue: $20,000

Operating expense: $12,000

Depreciation: $3,000

Interest Expense: $2,000

Tax Rate: 40%

There are times management uses techniques to their discretion to improve a company’s performance. When ethics are low, they may use a misleading metric as a surrogate for revenue, earnings, or cash flow. Which misleading metric did Global Crossing use, and how could investors have protected themselves?

Economics for Organizational Management. Chapter 14 Advanced Pricing Techniques?

Discuss how pricing your product according to first-degree, second-degree, or third-degree methods of price discrimination can generate greater revenue and profit than charging a single, uniform price.?