List the four qualitative characteristics of financial reports (under IFRS) and discuss two of them in detail. (Chapter 3, Section 5.2)
What is the “Going Concern” assumption and why is it in an important underlying assumption in financial statements? (Chapter 3, Section 5.4.1).
What is the “percentage-of- completion” method for revenue recognition and when can it be used? Give an example of how this method is used. (Chapter 4, Section 3.2.1)
In: Advanced Math
Use the table below to answer the following
question(s).
| Bolton Computer's Laptop Pricing Decision |
|
| | |
| Inputs | |
| | |
| Price | |
| | |
| Model | |
| | |
| Sales | -3.85 × price + 1150.9 |
| | |
| Outputs | |
| | |
| Total revenue | sales × price |
Bolton Computers are planning to release a new line of low-end
laptops. Using Excel's Solver, develop a nonlinear model to
calculate the optimal price for the laptops, given that sales =
-3.85 × price + 1150.9.
In: Statistics and Probability
Local chain of sandwich shops sells sandwiches in a competitive market at $5.39 each. The hourly production function is:
Q = 136L - L2
The marginal product of labor function is:
MPL = 136 - 2L
If the competitive hourly wage is $14.68
a) how many employees do they hire?
b) what are the total hourly labor costs for the firm?
c) what is the total output of the firm?
d) what is the total revenue of the firm?
In: Finance
Imagine that you work in the accounting department of a university and your boss has asked you to explain components of revenue, expenses, and changes in net asset that are reported on the university’s statement of revenues.
Respond to the following in a minimum of 175 words:
Discuss at least two unique situations or transactions that you may encounter. Describe any circumstances the entity may engage in activities that result in Unrelated Business Income Tax (UBIT).
In: Accounting
In: Accounting
Consider the monopolistically competitive market structure, which has some features of a competitive market and some features of a monopoly. Complete the following table by indicating if each attribute characterizes a competitive market, a monopolistically competitive market, both, or neither. Check all that apply. Attributes Competitive Market Monopolistically Competitive Market Price is equal to marginal revenue Product differentiation Many sellers Zero profit in the long run
In: Economics
A. For each of the following, note whether it is a separately stated item or a part of ordinary income.
B. Then state where the shareholder would report it on their individual return.
C. Finally, explain why we have separately stated items.
Revenue
Gain on sale of property
Dividends
Interest income
Cost of goods sold
Loss on sale of investments
Salaries and wages
Travel expenses
Charitable donations
Interest expense
In: Accounting
he market demand and supply functions for pizza in Newtown were QD = 10,000 - 1,000 P QS = -2,000 + 1,000 P Determine algebraically the equilibrium price and quantity of pizza and plot the market demand and supply curves, label the equilibrium point E, and draw the demand curve faced by a single pizza shop in this market on the assumption that the market is perfectly competitive. Show also the marginal revenue of the firm on the figure.
In: Economics
A retailer has been selling 1200 tablet computers a week at $350
each. The marketing department estimates that an additional 80
tablets will sell each week for every $10 that the price is
lowered.
what is p(x) =
what price should be set for max revenue
If the retailer's weekly cost function is C(x) = 35,000 + 130x what
price should it choose in order to maximize its profit?
In: Math
Development of a new computer network requires $1,007,324 as first costs and $45,051 per year as operating costs. It will be in operation for the next 5 years bringing $542,338 as annual revenue over this period. It is also known that MARR is 15%, and the depreciation rate associated with the first cost is 20%. If you are asked to construct sensitivity graphs for (-20%, +20%) interval, what will be the slope of the line associated with operating costs in this interval?
In: Economics