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Double-entry Accounting Services begin operations on July 1. It allows its clients 90 days to pay for services received. On the other hand, the company's suppliers require payment for their goods and services within 30 days. Double-entry prepaid its office rent for 12 months on July 1. At the end of the year, December 31, the company had yet to pay its last month's utility bill.
Instructions:Explain how cash and accrual basis accounting would handle each of the events described above. Use the column heading s shown below. Event Cash Basis Accrual Basis
What would production at a point outside the production possibilities curve indicate? What must occur before the economy can attain such a level of production?
Suppose households unexpectedly increase consumption and the central bank keeps the interest rate fixed. Which of the following will occur as a result of this consumer optimism?
1. consider a macroeconomy was initially at equilibrium level of real gdp.nbsp using an aggregate supply diagram and
Using regression analysis, find an equation that best fits the data to represent the TVC function and at what sales/output level will marginal costs (MC) reach a minimum?
What do you think the potential impact of Wal-Mart.com will be on the company's efforts to expand internationally?
Assume that the demand curve for apples is given by Qd = 140 - 5P, where Qd is number of pounds demanded per year and p is the price per pound. The supply of apples can be described by Qs = 40 + 3P, where Qs is the number of pounds provided.
since 1995 the world trade organization wto has adjudicated trade disputes that arise between or among nations. now
Analyze the impact of an increase in the minimum wage from the current level to $15 per hours. How would the following be affected? employment of people previously earning less than $15 per hour
Find MR and MC. b. Demonstrate that profit is maximized at the quantity where MR = MC. c. Derive the relationship between marginal reve-nue and the price elasticity of demand, and show that the profit-maximizing price and quantity will never be the u..
How elastic is the product and/or service - If the company needed to increase sales by 40%, what would need to be done (in terms of elasticity)?
Return again to the cartel in Problems 4 and 5. Now suppose that the market game repeated indefinitely. What is the discount factor (sigma) is necessary now in order to maintain the collusive agreement in an indenitely repeated setting
Describe (include an explanation of economic profit in your explanation). Will price be higher or lower under such the agreement in long-run equilibrium than would be the case if firms didn't collude? Discuss.
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