In a perfectly competitive market, a profit-maximizing firm produces 2000 pounds of butter per week in the long run equilibrium. Answer each of the following questions with two diagrams, one for the butter market and another for the individual butter firm. If the market demand for butter increases …

a) How does it affect the butter market and the individual butter firm in the short run?

b) In the long run, how does the butter market adjust, and what will be the impacts on the individual butter firm?        

An individual buys 10 raffle tickets in hopes of winning one of 15 prizes to be given away by drawing tickets without replacement. The total number of raffle tickets sold is 168. Lt X be the number of prizes won by the individual.

A) Find the probability the individual wins at least one prize

B) Calculate the expected value E(X) accurate to 4 decimal places

C) Calculate the standard deviation SD(X) accurate to 4 decimal places

How would each of the following developments affect the exchange rate of the US dollar (state whether the US dollar will get stronger or weaker)? Support your answer discussing the effects on the demand and supply of a foreign currency or dollars and using appropriate diagrams.

a. Increase in the expected inflation rate in the economies of US trading partners

b. Increase in the expected future exchange rate (US $ is expected to grow stronger)

c. Americans are traveling less abroad because of the Covid 19 situation

d. The European Union interest rate rises relative to the US interest rate

e. Less foreign tourists are coming to the Florida beach for fear of covid 19.

The price of Japanese Yen "in US dollars" was 0.0089 last month and is 0.0084 today. Which of the following is TRUE given this information? Select one: a. The Japanese Yen has lost value against the US dollar. b. The US dollar has lost value against the Japanese Yen. c. Turning a US dollar into Yen today would give you approximately 5 more Yen today versus the amount of Yen you would have received last month. d. Today, 1000 Japanese Yen can be exchanged into approximately $119. e. Today, 1000 US dollars can be converted into approximately 8.4 Japanese Yen.

1. Compare three leading companies​ (Company Upper D​, Company Upper M​, and Company Upper T​) by calculating the following​ ratios: current​ ratio, debt​ ratio, leverage​ ratio, and​ times-interest-earned ratio. Use​ year-end figures in place of averages where needed for the purpose of calculating ratios in this exercise. Based on your computed ratio​ values, which company looks the least​ risky?

(Amounts in millions or billions) Company D Company M Company T Income data

Begin by computing the ratios. Start by selecting the formula for the current ratio. Then calculate the current ratios for Company

Upper DD​,

Upper MM​,

and

Upper TT.

​(Enter amounts in millions or billions as provided to you in the problem​statement, X. Round the ratios to two decimal​ places.)

Jamie Bard is the owner Café Corner, a popular restaurant located at a busy traffic intersection in the city of Clutchmore.

For the financial year ended 30 June 2020:

• Café Corner earned a profit after income tax of $16,000. This was after taking into account sales of $821,000 and cost of sales of $623,000.

• Other operating expenses incurred to operate the business totalled $179,000. This figure included:
  1. depreciation expenses, and

2. interest expenses of $11,000 which were fully paid.

• There were some additional plant and equipment purchased for cash. However, there were no disposals of property, plant and equipment.

• The company paid $7,000 to the Tax Office in full settlement of its income tax obligations.

• The company received some interest income amounting to $4,000 when it placed some of its excess cash in an investment fund.

• The shareholders of Café Corner received dividends of $18,000 from the company.

The following are balances extracted from the Statements of Financial Position of Café Corner at the end of its most recent two financial years:

Jamie wants to understand the cash flow of Café Corner better and has asked for your assistance to help him prepare some information regarding the cash flows of the business.

Jamie Bard is the owner Café Corner, a popular restaurant located at a busy traffic intersection in the city of Clutchmore.

For the financial year ended 30 June 2020:
 Café Corner earned a profit after income tax of $16,000. This was after taking into account sales of $821,000 and cost of sales of $623,000.

 Other operating expenses incurred to operate the business totalled $179,000. This figure included:
(i) depreciation expenses, and
(ii) interest expenses of $11,000 which were fully paid.

 There were some additional plant and equipment purchased for cash. However, there were no disposals of property, plant and equipment.

 The company paid $7,000 to the Tax Office in full settlement of its income tax obligations.

 The company received some interest income amounting to $4,000 when it placed some of its excess cash in an investment fund.

 The shareholders of Café Corner received dividends of $18,000 from the company.

The following are balances extracted from the Statements of Financial Position of Café Corner at the end of its most recent two financial years:
30 June 2020 30 June 2019
$ $
Accounts payable 12,000 27,000
Accounts receivable 28,000 103,000
Accrued expenses 5,000 11,000
Accumulated depreciation 84,000 65,000
Cash 34,000 23,000
Inventory 72,000 46,000
Plant and equipment 293,000 228,000
Prepaid expenses 4,000 15,000
Share capital 180,000 160,000

Jamie wants to understand the cash flow of Café Corner better and has asked for your assistance to help him prepare some information regarding the cash flows of the business.

Required:

a) Calculate the cash receipts from customers, cash payments to suppliers and cash payments for other expenses. Show all workings. (7½ marks)

b) Using the direct method, prepare the Statement of Cash Flows for Café Corner for the financial year ended 30 June 2020. (6½ marks)

c) Prepare a reconciliation of Cash Flows from Operating Activities and Profit After Tax for Café Corner.

Rough and Rugged began operations on November 1, 2011. The transactions for November have already been recorded and posted to the T-Accounts Record the transactions in a journal using correct journal entry format. Post the journal entries to the ledger (T-Accounts).

Nov 1- Jamie contributed capital of $16,000 to begin the company.

Nov 2- signed a leased for a building and paid $1,200 for the first month's rent.

Nov 3- purchased canoes for $4,800 on account.

Nov 4-purchased office supplies on account, 750

nov 7- earned $1,400 cash for rental of canoes.

Nov 13- paid $1,500 cash for wages.

nov 15- jamie withdrew $50 cash from the business

Nov 16-received a bill for $150 for utilities (use separate payable account).

Nov 20-received a bill for $175 for cell phone expenses. (use separate payable account.)

Nov 22- rented canoes to early start daycare on account, $3,000.

Nov 26-paid $1,000 on account related to the november 3, 2018 purchase.

Nov 28- received $750 from early start daycare for canoe rental on november 22, 2018.

Nov 30- Jamie withdrew $100 cash from the business.

1. An amount of $3,000 is deposited into Fund X, which earns an annual effective rate of 8%. At the end of each year, the interest earned plus an additional $150 is withdrawn from the fund. At the end of the twentieth year, the fund is depleted. The annual withdrawals of interest and principal are deposited into Fund Y, which earns an annual effective rate of 10%.

   Determine the accumulated value of Fund Y at the end of year 20. Justify your answer

Mio was transferred from New York to Germany. He lived and worked in Germany for 347 days in 2019. Mio's salary for 2019 is $228,800. Assume a 365-day year. In your computation, round any division to four decimal places before converting to a percentage. For example, 0.473938 would be rounded to 0.4739. If required, round your final answer to the nearest dollar. What is Mio’s foreign earned income exclusion?