2. After seeing your analysis of his decline in profit, Cal decides to lower the price of gas to $2.179 per gallon. After this change, the volume sold increased to 4,400 gallons per day. He asks you to measure his business gains or losses at $2.179. Fixed costs are $250 per day. What is the price elasticity of demand? Can the elasticity be characterized as elastic, inelastic, or neither? By how much did revenues increase or decrease as a result of the change in price? By how much did profits increase or decline? (Profits are revenue minus all costs.)

The marketing strategy of corporate naming rights for sports venues is a fairly recent strategy in the sports business landscape. Imagine you are on the marketing team for a minor league team that will be moving to your city. You have been tasked with generating revenue for the team through the sale of stadium naming rights. Based upon what you learned from the Topic Materials, compose a one-paragraph pitch to persuade a local company that naming rights are worth the hefty price tag. Post your pitch to the Main Forum. Provide your peers with constructive feedback about ways to improve their pitch.

1. What is the accounting equation?

2. Who are the internal users of a company’s financial information? What kind of

decisions do they need to make using financial information?

3. What are the four major financial statements of a corporation?

4. GAAP principles and concepts

5. What are the requirements of the Sarbanes-Oxley Act?

6. What is IASB?

7. What are assets? What are prepaid expenses? Examples?

8. What is a liability? What is an unearned revenue? Examples?

9. What are the three basic elements of the balance sheet?

10. Which financial statement reveals the results of a company’s operations?

Mr. and Mrs. Williams own 100% of Lessing, Inc., a regular corporation (i.e. not an S-Corporation). Mr. and Mrs. Williams work at the company and the corporation pays each of them a reasonable salary for their efforts.

Last year, they employed their 19-year old son to work for the corporation, paying him a salary of $75,000. During a recent IRS audit, the IRS revenue agent determined that the son rarely shows up for work and spends most of his time playing golf.

Ignoring payroll tax implications, what are the most likely potential tax implications of this discovery to Mr. and Mrs. Williams.

economics question

be clear show steps and solution for rating solve in 40 minutes for rating

Seven years ago a New Brunswick logging company purchased a used wood chipper for $131,000 for biomass and custom chipping. Operating and maintenance costs averaged $4,000 per year. A complete overhaul at the end of year 4 cost additional $9,000. Annual revenue from using the chipper was $20,000 per year. Calculate the annual worth of the chipper at 7% interest rate

(Note: Round your answer to 2 decimal places and do not use the $ sign in your answer)

3. Bart is a fisherman in Rend Lake Illinois and has a job paying $100/day. He has to decide whether to work at the store or fish in the lake and sell the fish. Demand for fish is Qd = 1000 – 2P per day where, P is price per kilo and Qd is quantity demanded. a) Assume the Rend Lake is a public property and find the optimum fish catch for Bart. b) Find the price and the total revenue Bart will make each day. c) Suppose Bart owned Rend Lake. Find the optimum catch per day and show that in this situation fish will last longer.

QUESTION FOUR

4.1 Complete Table 4.1 given below showing quantity, fixed cost, variable cost, total cost and marginal cost.

2. 4.2 Using examples distinguish between fixed costs and variable costs.

3. 4.3 Differentiate between marginal cost and marginal revenue.

4. 4.4 Compare and contrast accounting and economic profits.