Per-unit Tax: The Isoland widget market has the following supply and demand functions: Supply: P = 20 + 2QS Demand: P = 160 − 2QD Suppose a per-unit tax of $40 is imposed on this market.
Draw a picture and calculate:
(a) Price consumers pay
(b) price producers receive
(c) Total tax revenue
(d) Consumer surplus
(e) Producer Surplus
(f) Consumer tax burden
(g) Producer tax burden
(h) Total welfare
(i) Deadweight loss
In: Economics
Per-unit Tax:
The Isoland widget market has the following supply and demand functions:
Supply: P = 20 + 2QS
Demand: P = 160 − 2QD
Suppose a per-unit tax of $40 is imposed on this market.
Draw a picture and calculate: (a) Price consumers pay (b) price producers receive (c) Total tax revenue (d) Consumer surplus (e) Producer Surplus (f) Consumer tax burden (g) Producer tax burden (h) Total welfare (i) Deadweight loss
In: Economics
1. Consider a Perfectly Competitive market where the demand is given by P = 6000 – 4Q and the supply is given by P = Q.
a. Calculate the equilibrium price, quantity, total Consumer Surplus, and total Producer Surplus. Show all calculations.
b. Suppose this market now is controlled by a single-price monopolist whose marginal cost function is MC = Q. Determine this firm’s marginal revenue function, then calculate its profit-maximizing quantity, price, the total Consumer Surplus, and the total Producer Surplus. Show all calculations.
In: Economics
Problem 11-37 (LO. 7)
Alex, who is single, conducts an activity in 2019 that is classified as a hobby. The activity produces the following revenues and expenses.
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Without regard to this hobby, Alex's AGI is $42,000.
Determine the amount of gross income that Alex must report and the amount of expenses he is permitted to deduct. Assume Alex itemizes his deductions.
Reportable income: $
Deductible expenses: $
In: Accounting
Problem 11-37 (LO. 7)
Alex, who is single, conducts an activity in 2019 that is classified as a hobby. The activity produces the following revenues and expenses.
|
Without regard to this hobby, Alex's AGI is $42,000.
Determine the amount of gross income that Alex must report and the amount of expenses he is permitted to deduct. Assume Alex itemizes his deductions.
Reportable income: $
Deductible expenses: $
In: Accounting
Prepare an income statement, a statement of changes in equity, and a statement of financial position for Norman Rae Ltd., a service business, from the items listed below for the month of October, 2018:
...... Accounts payable............................................................................. $10,000
...... Accounts receivable......................................................................... 14,000
...... Cash................................................................................................. 10,000
...... Common shares............................................................................... 28,000
...... Dividends paid.................................................................................. 6,000
...... Income tax expense......................................................................... 4,500
...... Equipment........................................................................................ 30,000
...... Supplies............................................................................................ 2,800er.
...... Supplies expense............................................................................. 3,500
...... Rent expense................................................................................... 3,000
...... Retained earnings, October 1.......................................................... 15,000
...... Salaries expense.............................................................................. 7,000
...... Service revenue............................................................................... 28,500
...... Utilities expense............................................................................... 700
In: Accounting
Select one (1) U.S. publicly traded company and review its most recent Annual Report. (You may use one (1) of the three (3) companies you selected for your Stock Journal assignment.)
Use the Income Statement and Balance Sheet to determine the changes in:
Briefly describe the change from the current and prior years in each of these key areas and determine if the changes would be positive or negative from an investor / stockholder's view.
In: Accounting
Select one (1) U.S. publicly traded company and review its most recent Annual Report. (You may use one (1) of the three (3) companies you selected for your Stock Journal assignment.)
Use the Income Statement and Balance Sheet to determine the changes in:
assets, liabilities, and equity
total revenue and net income
Briefly describe the change from the current and prior years in each of these key areas and determine if the changes would be positive or negative from an investor / stockholder's view.
In: Accounting
Select one (1) U.S. publicly traded company and review its most recent Annual Report. (You may use one (1) of the three (3) companies you selected for your Stock Journal assignment.)
Use the Income Statement and Balance Sheet to determine the changes in:
Briefly describe the change from the current and prior years in each of these key areas and determine if the changes would be positive or negative from an investor / stockholder's view.
In: Finance
Select one (1) U.S. publicly traded company and review its most recent Annual Report. (You may use one (1) of the three (3) companies you selected for your Stock Journal assignment.)
Use the Income Statement and Balance Sheet to determine the changes in:
assets, liabilities, and equity
total revenue and net income
Briefly describe the change from the current and prior years in each of these key areas and determine if the changes would be positive or negative from an investor / stockholder's view.
In: Finance