Rhonda rented her vacation home for 30 days when the Winter Olympics were held in the city. She received rent revenue was $6,000 which was a fair rental rate during this tourist season. She lived in the home 30 days. She paid a total of $7,300 for taxes and mortgage interest on the home. She paid utility expense and repair expense totaling $4,000. Total depreciation on the home is $8,000 per year. How much depreciation expense will she report on Schedule E for this rental property for 2019?

Group of answer choices $3,000 $7,400 $3,400 $2,400

. Show and explain the large nation case of Country 1, which initially has a tariff on its imports of Good Z and later eliminates its tariff on Good Z.

(a) For Country 1 graphically show and label the change in (i) domestic producer surplus, (ii) domestic consumer surplus, (iii) domestic government tax revenue, and (v) domestic net total change. [Use a large graph!]

(b) What happens to the net import price of Good Z for Country 1 given the change in the tariff?

What happens to the domestic terms of trade effect area for Country 1 as a result?

. Show and explain the large nation case of Country 1, which initially has a tariff on its imports of Good Z and later eliminates its tariff on Good Z.

(a) For Country 1 graphically show and label the change in (i) domestic producer surplus, (ii) domestic consumer surplus, (iii) domestic government tax revenue, and (v) domestic net total change. [Use a large graph!]

(b) What happens to the net import price of Good Z for Country 1 given the change in the tariff?

What happens to the domestic terms of trade effect area for Country 1 as a result?

Australia’s east coast drought will cut next season’s Canola production. But if rain returns, the crop could bounce back the following season. The global price of Canola is forecast to rise as a result of the fall in production.

1. The market for Canola, it could be argued, follows the required features of a perfectly competitive market. List three features of an “idealized” perfectly competitive market that apply to the market for Canola.

2.Describe the canola market as a whole and the cost and revenue of one farm in 2020, assuming that all firms are making zero economic profit. Use well labelled graphs to assist your explanation.

Julianna Abdallah owns and operates FirstCakes, a bakery that creates personalized birthday cakes for a child’s first birthday. The cakes, which sell for $64 and feature an edible picture of the child, are shipped throughout the country. A typical month’s results are as follows: Sales revenue $869,120 Variable expenses 651,840 Contribution margin 217,280 Fixed expenses 117,280 Operating income $ 100,000 Assuming a 30% tax rate, how many cakes will Julianna Abdallah have to sell if she wants to earn $144,704 in net income each month? (Round answer to 0 decimal places, e.g. 5,275.)

The demand for potato chips in a comptitive market is P=100-2Q and supply is P=Q.

- What is the equilibrium price and quantity?

- What is the value of the area of consumer and producer surplus?

- What are the gains to trade in the market?

Suppose the potato chip market is monopolized by one firm. Assume the suupply function now represents the monopolist's marginal cost schedule. The demand schedule is unchanged.

- What is the monopolist's marginal revenue mathematically?

- With a monopoly, what is the equilibrum price and quantity?

- What is the value of the area of consumer and producer surplus?

- What are the gains to trade in the market?

- What is the value of the dead weight loss?

Owen Company forgot to accrue $3,000 of salaries its employees had earned at the end of 2019. It paid and expensed the salaries in 2020. It also, in 2019, recorded $4,000 of sales as an account receivable; however, the sale really did not take place until 2020, and it should have recognized the revenue in 2020. It collected the money from the sale early in 2020.

Provide the impact of the errors on the following:

Assets as of 12/31/19: $_____________ Overstated Understated

Assets as of 12/31/20: $_____________ Overstated Understated

Liabilities as of 12/31/19: $_____________ Overstated Understated

Net income for 2020: $_____________ Overstated Understated

Tastykake Online Gift Box postcard mailing:

● Selling price = $41.50 per box with “free” shipping in USA

● Cost Of Goods Sold (COGS) = 60% of revenue

● Order processing and fulfillment costs = $6.95 per order

● Mailing size = 17,500 pieces

● Printing, mailing and postage costs = $.459 each

● Historical response rate = 4.6%

Questions:

1.  At the historical response rate, what would the expected profit or loss be for the Mother’s Day Promotion?

2.  What is the response rate needed to breakeven?

3.  What is the ROI at a 9.2% response rate?

SOS HELP FAST!

During the months of January and February, Solitare Corporation sold goods to two customers. The sequence of events was as follows: Jan. 6 Sold goods for $100 to Wizard Inc. with terms 2/30, n/60. The goods cost Solitare $70. 6 Sold goods to Spyder Corp. for $80 with terms 5/10, n/60. The goods cost Solitare $60. 14 Collected cash for the amount due from Wizard Inc. Feb. 28 Collected cash for the amount due from Spyder Corp. Required: Compute the total revenue Solitare would report over the two months.