BUSINESS COLLEGE

The demand for books is: The supply of books is: 9) Refer to Scenario 2.1. What is the equilibrium price of books? 9) A) 20 B) 15 C)5 D) 10 E) none of the above A-2 10) Refer to Scenario 2.1. What is the equilibrium quantity of books sold? 10) А)75 B) 100 C) 50 D) 25 E) none of the above

Answers

Answer 1
Answer:

Answer:

Equilibrium Price (Ep) = 20

Equilibrium quantity (Eq) = 100

Explanation:

Missing information

Qs = 5P

Qd = 120 - P

The equilibrium is where quantity supplied matches quantity demanded.

Qs= Qd

5P = 120 - P

5p + P = 120

6P = 120

P = 20

Then we solve for quantity:

Notice, we should get the same answer in both equation, else is wrong.

Qs = 5 x P = 5 x 20 = 100

Qd = 120 - P = 120 - 20 = 100

They match so our answer are correct.

Ie get different value, first; we check the math and if keeping getting different values we should redo the calculation for price.

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Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2018, 300 shares of preferred stock and 3,100 shares of common stock have been issued. The following transactions affect stockholders' equity during 2018: March 1 Issue 1,100 shares of common stock for $33 per share. May 15 Purchase 400 shares of treasury stock for $26 per share. July 10 Reissue 200 shares of treasury stock purchased on May 15 for $31 per share. October 15 Issue 200 shares of preferred stock for $36 per share. December 1 Declare a cash dividend on both common and preferred stock of $0.80 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2018: Preferred Stock, $300; Common Stock, $31; Additional Paid-in Capital, $67,000; and Retained Earnings, $26,000. Net income for the year ended December 31, 2018, is $9,900. Taking into consideration the beginning balances on January 1, 2018 and all the transactions during 2018, respond to the following for Donnie Hilfiger: Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) 2. Prepare the statement of stockholders' equity for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)
A stock has an expected return of 10.2 percent, the risk-free rate is 3.9 percent, and the market risk premium is 7.2 percent. What must the beta of this stock be?
For the statements below select the appropriate terms from the given choices. 1. A revenue not yet recognized; collected in advance. 2. Office supplies on hand that will be used in the next period. 3. Interest revenue collected; not yet recognized. 4. Rent not yet collected; already recognized. 5. An expense incurred; not yet paid or recorded. 6. A revenue recognized; not yet collected or recorded. 7. An expense not yet incurred; paid in advance. 8. Interest expense incurred; not yet paid.
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Thirty-five percent of the sales on account are collected in the month of sale, 45% in the month following sale, and the remainder are collected in the second month following sale. The following are budgeted sales data for the company: January February March April Total sales $50,000 $60,000 $40,000 $30,000 What is the amount of cash that should be collected in March

Answers

Answer:

The amount of cash collected in March should be:

$51,000.

Explanation:

a) Data and Calculations:

Budgeted sales and Cash Collections:

                                           January    February       March         April

Total sales                         $50,000    $60,000     $40,000    $30,000

Collections:

35% month of sales             17,500       21,000         14,000       10,500

45% month following                            22,500        27,000       18,000

20% second month                                                    10,000

Total collections in March                                       $51,000

b) The above calculations concentrated on the month of March, being the month of interest.  Though, sales on account totals $40,000, the cash collections for the month amounts to $51,000.  This arises from cash collections from the months of January and February.

14. Colin is making a braise for a catered lunch. How should Colin prepare the vegetables for the braise? A. Cut into large pieces
B. Puréed
C. Cooked separately beforehand

Answers

Answer: The correct answer isA; cut into large pieces.

Explanation:

When cooking a meal using the braising technique, the meat, including poultry,  and vegetables need to be cut into large pieces. The vegetables and other items in the braise will be covered with enough liquid to only cover the meat and/or vegetables. The braise is then covered and simmered so that the food cooks evenly with the heat and steam. When making a stew, the vegetables should all be cut into equal slices.

The asset's book value is $64,800 on June 1, Year 3. On that date, management determines that the asset's salvage value should be $6,400 rather than the original estimate of $11,400. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be:a. $2,366.37
b. $4,866.67
c. $1,958.33
d. $2,433.33
e. $2,700.00

Answers

Answer:

$2,316.67

Explanation:

From the question we know that the asset is depreciated in 3 years

The monthly depreciation expenses before re-determine savage value

= ($64,800-$11,400)/36 = $1,483.33

Because management determine to reduce $5,000 in salvage value (=$11,400-$6,400) just before 6 months ending depreciation period, then we have to allocate $5,000 in next 6 months.

The depreciation expense during the last six months of Year 3 would be:

= current depreciation expense $1,483.33 + $5,000/6

= $2,316.67

You are head of the Schwartz Family Endowment for the Arts. You have decided to fund an arts school in the San Francisco Bay area in perpetuity. Every 3 ​years, you will give the school $ 1 comma 000 comma 000. The first payment will occur 3 years from today. If the interest rate is 10.1 % per​ year, what is the present value of your​ gift?

Answers

Answer:

PV=  $749,269.48

Explanation:

Giving the following information:

Every three years= $1000000

i= 10,1%

The first payment will occur 3 years from today.

We need to find what is the present value of the​ gift

Using the following formula:

PV= FV/[(1+i)^n)

PV= 1000000/[1,101^3]= $749,269.48

Demonstrate your knowledge of a depreciation adjusting entry by completing the following sentence. A depreciation adjustment would include a debit to _________(depreciation expense/accumulated depreciation/building) and _________(debit/credit) to ____________(depreciation expense/accumulated depreciation/building).

Answers

Answer:

1. Depreciation Expense 2.Credit 3. Accumulated Depreciation

Explanation:

Depreciation is an expense. An increase in expense is always recorded as Debit.

Accumulated Depreciation is an allowance or reserve account which is credited till the time asset is in use.

Manufacturing companies normally have three types of inventory: Select one: a. Economy, standard, and deluxe. b. Direct materials, direct labor, and manufacturing overhead. c. Raw materials, work in process, and finished goods. d. Work in process, finished goods, and returned merchandise.

Answers

Answer:

C. Raw materials, work in process, and finished goods.

Explanation:

Inventories are materials which have monetary value, and are assets to a company. An inventory can in the form of RAW MATERIALS (inventories which has not be used or converted in the production process), A WORK IN PROGRESS (materials which are within the production or conversion process, they have been partially transformed but not yet completed) and the FINISHED PRODUCTS ALSO CALLED FINISHED GOODS(materials which has undergone complete Transformation and are ready to be sold to the market).
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