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Assume Intel and AMD are the sole producers of microprocessors. Each has a total cost function of
TC = $2.2 Billion + 0.2Qi + 0.5Q i 2 where Q i are microprocessors..
The Demand curve for the firm's product is
P = 4.2 -1.5 Q
a. Suppose the two firms act as perfect competitors and try to out compete each other and do not collude, what would be the optimal industry price and output?
b. What is the firms collude and do not compete, what would be the optimal price and output?
During its first year, the firm earned 249,000. Prepare the entry to close the firms income summary accounts as of its December 31 year end and to allocate the 249,000 net income to partners under each of the following separate assumptions:
Describe the benefits accruing to company that is traded in public securities markets. What are the disadvantages to being public?
Prepare the journal entries required at December 31, 2007 and at December 31, 2008 assuming that a perpetual inventory system and the direct method of adjusting to market is used.
Which of the following statements is true? I. The entire amount of realized gains and losses from the sale of assets are recognized for tax purposes.
Prepare an income statement for the year 2007 starting with income from continuing operations before taxes. Compute earnings per share as it should be shown on the face of the income statement. Common shares outstanding for the year are 80,000 sha..
What do you do if you are unable to determine internal controls? Which do you think is most important?
Suppose you have been employed into a new firm to oversee the accounting department. Explain what type of financial reports would you expect to see in your department?
Longhorn Company reports current E&P of $100,000 in 20X3 and accumulated E&P at the beginning of the year of negative $200,000. Longhorn distributed $300,000 to its sole shareholder on January 1, 20X3. The shareholder's tax basis in his stock in L..
Discuss main objectives of non- profit-making organisations
Greetings Online disposed of a van that cost $22000 with accumulated depreciation of $15000. The journal entry would be to:
Prepare responses to the following assignments from the e-text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby-Identifying Outstanding Checks and Deposits in Transit and Preparing a Bank Reconciliation and Journal Entri..
Write a memo to your partner covering all of the following: Write a description of the difference between product and period costs and examples of each. Explain how the financial results of a business would be reported differently if costs were not..
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