The transactions of Matile Delivery Company are recorded in the general journal below. You are to post the entries to T accounts (include dates) and foot and balance the T accounts. Prepare a trial balance in good order and form with complete headings. Don’t forget that there is a specific order of accounts: assets (in order of liquidity), liabilities (in order of liquidity), owner’s capital, owner’s withdrawals, revenues and expenses.

Trial Balance

Consider a monopolist facing the following situation:

A. Graph the following:

Demand Curve

Marginal Revenue Curve

Marginal Cost Curve

Average Total Cost Curve

B. Identify the profit maximization point for the monopolist. What are the price and quantities that will maximize profit? What is the total profit received at this point?

C. Suppose you were the regulator of this monopoly and you wished to set price and quantity at the perfectly competitive price and quantity, what would those values be?

D. Compare the results you got in B with the results in C.

Hospitality and Tourism Management Subject:

A big business-oriented hotel has 505 rooms. Five of those rooms had an issue with a leaking bathroom. On Tuesday night, 440 rooms were occupied (sold). On Friday night, 240 rooms were occupied (sold).

The hotel's room revenue (sales) for Thursday was $90 200. The room revenue (sales) for Friday was $38 400

- What was the Occupancy percent, the ADR and the RevPar for Thursday and Friday?

- What do the numbers for Occupancy, ADR, and RevPar for the two days tell you - please comment on each number and explain what "conclusions" you would make if you are the general manager of the hotel.

- Which characteristic of the lodging industry is "causing" the different occupancy for Thursday and Friday night? Please explain briefly. What can a hotel manager do to address this issue?

- What are some specific services and amenities this segment (business traveler) would be interested in when staying in the hotel? Please list and explain at least 4.

1. Martinez Company’s weekly payroll, paid on Fridays, totals $7,540. Employees work a 5-day week. Prepare Martinez’s adjusting entry on Wednesday, December 31, and the journal entry to record the $7,540 cash payment on Friday, January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

2. On July 1, 2020, Indigo Co. pays $10,480 to Sweet Insurance Co. for a 2-year insurance policy. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Sweet Insurance Co. Sweet uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

1. Which of the following would cause an increase in the market supply of accountants (increase labor supply curve)

Select one:

a. an increase in wages offered to tax attorneys (an occupation alternative to accounting)

b. an increase the in value of the marginal product of accountants.

c. a decrease in wages offered to tax attorneys (an occupation alternative to accounting)

d. stricter qualifications needed to be a certified public accountant (CPA)

2. Value of the marginal product of labor is the:

Select one:

a. the additional revenue a firm generates when it adds one more unit of labor.

b. Average number of units of output a worker can produce.

c. total revenue received when a given number of workers are employed

d. additional number of jobs created when one more firm enters the market

3. In regards to dealing with negative externalities, which of the following is a possible solution that can make the outcome more efficient?

Select one:

a. Property rights

b. Pigouvian tax

c. Tradable allowance

d. All of the above

I am asked to prepared the balance sheet from the information below.

Suppose there is a perfectly competitive industry where all the firms are identical with identical cost curves.

Furthermore, suppose that a representative firm’s total revenue is given by the equation TR = q.p; where q is the quantity of output produced by the firm and p the market price (=P).

The market demand for this product is given by the equation P = 5000 – 9Q where Q is the market quantity.

In addition you are told that the market supply curve is given by the equation P = 1000 + Q.

a. What is the equilibrium quantity and price in this market given this information?

b. The firm’s MC equation based upon its TC equation is MC = 5q + 4. Given this information and your answer in part (a), what is the firm’s profit maximizing level of production, total revenue, total cost and profit at this market equilibrium?

Is this a short-run or long-run equilibrium? Explain your answer.

c. Given your answer in part (b), what do you anticipate will happen in this market in the long-run?

You are called by Hope van Dyne to determine whether a new Pym technology for miniaturized food delivery is economically desirable. This project will require $35,000,000 in equipment to infuse food with modified Pym particles. Installing and calibrating the equipment to begin operations will cost an additional $2,500,000. This equipment is categorized as seven-years MACRS property. The project will bring a revenue of $28,000,000 in the first year. After that, the revenue will grow 10% every year as more people take a liking to miniature food. The main cost of this project is the salary of lab technicians, which in the first year adds up to $5,000,000. The salary of these workers will increase with the general inflation rate of 2% every year. In addition to this, rent and utilities cost $5,000,000 every year. This cost is expected to stay constant. The project is expected to last six years, at the end of which all the equipment can be sold for 12% of its original value. The MARR is 12%

Assuming a tax rate of 21%, compute income, cash flows, and net present worth over the project life

Following is the Trial Balance of Shaheen Traders for the period of 2nd Quarter of 2019: Title of Accounts Debit (Rs.) Credit (Rs.) Cash 22,000 Bank 62,000 Marketable Securities 55,000 Salaries Expense 60,000 Prepaid Insurance 27,000 Accounts Payable 36,000 Capital 120,000 Service Income 180,000 Furniture 70,000 Rent Revenue 64,000 Prepaid Advertisement 15,000 Insurance Expense 9,000 Equipment 80,000 Total 400,000 400,000

Data for Adjustment:

i. Salaries accrued Rs. 12,000

ii. Insurance expired for 2nd Quarter Rs. 9,000

iii. Service Income Accrued Rs. 20,000

iv. Rent Revenue received but not yet earned Rs. 24,000

v. Depreciation on Furniture and Equipment @ 10% of Cost.

vi. Prepaid Advertisement expired Rs. 10,000

Required:

a) Prepare adjusting entries from above data

b) Prepare Worksheet from above data

c) Prepare Income Statement from above data.

d) Prepare Balance Sheet from above data.

George is the owner of Hornby’s Restaurant. George has asked you to support him with the preparation of a Balance Sheet and an Income Statement as of 30 June 2020. The information below was provided by George as at 30 June 2020.

To help George, you are required to calculate the total amounts (as of 30 June 2020) for the following positions. Please provide for each position the calculations.

a) current assets

b) non-current assets

c) current liabilities

d) non-current liabilities

e) expenses

f) revenues

g) profit/(or loss)

h) equity