Price Quantity Demanded Quantity Supplied $4 10 000 Tickets 8 000 Tickets $8 8 000 Tickets 8 000 Tickets $12 6 000 Tickets 8 000 Tickets $16 4 000 Tickets 8 000 Tickets $20 2 000 Tickets 8 000 Tickets a) Draw the demand and supply curves. What is unusual about this supply curve? What might this be true? b) What are the equilibrium price and quantity of tickets?

Answers

Answer 1

Answer:

a) Draw the demand and supply curves. I have attached the supply and demand curves below

What is unusual about this supply curve? What might this be true? What is inusual is that the supply curve is vertical, which means that the supply for this market is perfectly inelastic. A perfectly inelastic supply occurs when supply does not respond to price, it stays at the same quantity regardless of price level and price changes.

b) What are the equilibrium price and quantity of tickets?

The equilibrium price is $8 and the equilibrium quantity is 8 000 tickets. The reason is that at the price of $8 both the quantity supplied and demanded is equal to 8 000 tickets.

PriceQuantity DemandedQuantity Supplied $410 000 Tickets8 000 Tickets $88 000 Tickets8 000 Tickets $126

Related Questions

On January 1, 2019, XYZ Co. issued 2-year bonds with a face value of $10,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield (Market Int.) 8%, at a selling price of $10,363. The interest expense recognized for the year 2019 is

Answers

Answer:

Your answer is given below:

Explanation:

When bond is issued on yield to market at price of $10,179, interest is charged on outstanding amount of $10,179 of 9%.

So interest charged on June 30 is 9% for 6 months on $10,179

Interest expense=$10,179*9%*6/12

Interest expense for 6 months =$458

Cash paid for interest is however at stated interest rate of 10% on $10,000 for 6 months=$10,000*10%*6/12

Cash paid=$500

Difference of interest paid and interest expense is debited to bonds payable balance so bonds payable balance outstanding is reduced.

Bonds payable outstanding reduced=$500-$458

=$42

Bonds payable outstanding balance as on june 30=$10,179-$42

=$10,137

Now interest for last 6 months in 2019 is charged on $10,137 at 9%

Interest expense from June 30 to December 31=$10,137*9%*6/12

Interest expense=$456

Total interest expense for 2019=$456+458

=$914

So,total interest expense charged for 2019=$914

Which competitive strategy best utilizes Country Comfort's core competencies (which include a large and efficient network of obtaining and processing quality coffee beans)

Answers

Answer:

I don't know the answer to this

If a company has a quick ratio of 1.25 times, current assets of $25,000 and inventory of $5,000, the current liabilities balance is equal to sign and comma, as applicable) (round to the nearest dollar and include the dollar

Answers

Answer:

$16,000

Explanation:

Calculation to determine what the current liabilities balance is equal to

Using this formula

Quick Ratio = Current Assets - Inventory / Current Liabilities

Let plug in the formula

1.25 = ($25,000 - $5000) / Current Liabilities

1.25Current Liabilities = ($25,000 - $5000)

Current Liabilities = $20,000 / 1.25

Current Liabilities =$16,000

Therefore the current liabilities balance is equal to $16,000

A company uses the weighted average method for inventory costing . At the beginning of a period the production department had units in beginning Work in Process inventory which were 33 % complete the department completed and transferred 168,000 units . At the end of the period units were in the ending Work in Process inventory and are 68 % complete . Compute the number of equivalent units produced by the department .

Answers

Answer

a. 178,200 units

Explanation:

Comple question "A company uses the weighted average method for inventory costing. During a period, a production department had 54,000 units in beginning goods in process inventory which were 33% complete; the department completed and transferred 168,000 units. At the end of the period, 15,000 units were in the ending goods in process inventory and are 68% complete. Compute the number of equivalent units produced by the department. 178,200. 186,320. 183,000. 168,000. 114,000."

Calculation of Equivalent Unit (as per Weighted Method)

Unit % of Completion Equ. Unit

Unit Completed & Transferred Out 168,000 100% 168,000

Closing WIP 15,000 68% 10,200

Total Equivalent Unit 178,200

Presented below are two independent situations:
(a) Edelman Inc. acquired 10% of the 412,000 shares of common stock of Schuberger Corporation at a total cost of $12 per share on June 17, 2017. On September 3, Schuberger declared and paid a $112,000 dividend. On December 31, Schuberger reported net income of $512,000 for the year.
(b) Wen Corporation obtained significant influence over Hunsaker Company by buying 30% of Hunsaker’s 112,000 outstanding shares of common stock at a cost of $18 per share on January 1, 2017. On May 15, Hunsaker declared and paid a cash dividend of $112,000. On December 31, Hunsaker reported net income of $212,000 for the year.
Prepare all necessary journal entries for 2017 for (a) Edelman and (b) Wen.

Answers

Answer:

a. Date Accounts title Debit ($) Credit ($)

June 17 Stock investment 494,400

(412,000*$12*10%)

Cash 494,400

Sept.3 Cash 11,200

($112,000*10%)

Dividend revenue 11,200

Dec. 31 Stock investments 51,200

($512,000*10%)

Investment revenue 51,200

b. Date Account title Debit ($) Credit ($)

Jan.1 Stock Investment 604,800

(112,000*$18*30%)

Cash 604,800

May 15 Cash 33,600

($112,000*30%)

Stock Investment 33,600

Dec. 31 Stock investments 63,600

($212,000 *30%)

Investment revenue 63,600

State and explain elements of organizational structure?

Answers

Answer:

Explanation:

Organizational structure could be explained as a connected workflow through which an organization is strategically setup to operate.

Five elements create an organizational structure: job design, departmentation, delegation, span of control and chain of command

Job design : This element allows the definition of individual job role, the demands of each job position, duties, responsibilities and the key performance indicators.

Departmentation : Here, individual job roles which seems similar and have similar requirement are grouped into a certain defined category called department. Deparmentation may be ascribed based on task, job role, task force and so on.

Delegation : This involves process handling and management, each process and logical department has to be headed by a defined individual or group of persons.

Span of control : Definitions control and authority such that delegates know their limits and when to initiate their organizational power.

Chain of command : This is crucial as organizations aee arranged and operated hierarchically, the command line is defined such that it makes reporting easier.

Edison's Lights makes light bulbs. The company is currently producing well below its full capacity. Lamp Land has approached Edison's Lights with an offer to buy 20,000 light bulbs at $0.75 each. Edison;s Lights sells its light bulbs wholesale for $0.85 each; the average cost per unit is $0.83, of which $0.12 is fixed costs. If Edison's Lights were to accept Lamp Land's offer, what would be the increase in Edison's Lights' operating profits?

Answers

Answer:

the increase in Edison's Lights' operating profits would be $400

Explanation:

Analysis of the effects of Accepting Lamp Land's offer

Sales (20,000 x $0.75) $15,000

Less Incremental Costs :

Variable Cost (20,000 x $0.73) ($14,600)

Operating Profit $400

thus

If Edison's Lights were to accept Lamp Land's offer, the increase in Edison's Lights' operating profits would be $400

Based on the various costs to make the light bulb, Edison's lights would see an increase in operating profits of $800.

How would Edison's Lights see this profit?

The fixed costs would be the same throughout production so should be deducted:
= Average cost - fixed cost

= 0.83 - 0.12

= $0.71

The variable cost of making the bulb is $0.71 which means that the profit made on every bulb if sold at $0.75 would be:

= 0.75 - 0.71

= $0.04

The total profit would be:

= 20,000 bulbs x 0.04

= $800

Find out more on operating profits at https://brainly.com/question/14366117.

Task 2: Record the listed transactions of Nikea Inc. for the first quarter (January to March) in

a journal.

a) 01-02-2015 issued capital stock: $20,000

b) 01-30-2015 paid the monthly rent: $5,000

c) 02-02-2015 purchased supplies on account: $1,500

d) 02-10-2015 paid a creditor on account: $1,000

e) 03-03-2015 earned sales commissions: $25,000

f) 03-30-2015 paid automobile expenses for the month: $4,500

g) 03-30-2015 paid office salaries: $8,000

h) 03-31-2015 determined the cost of supplies used: $1,500

i) 03-31-2015 paid cash dividends: $1,500

Answers

Answer and Explanation:

The journal entries are shown below:

a. Cash Dr $20,000

To Capital $20,000

(being the issuance of the capital stock is recorded)

b. Rent Dr $5,000

To cash $5,000

(being the rent paid is recorded)

c. Supplies dr $1,500

To Account payable $1,500

(being the supplies purchased on account is recorded)

d. Account payable Dr $1,000

To cash $1,000

(being the amount paid is recorded)

e. Cash Dr $25,000

To sales commission $25,000

(being the sales commission earned is recorded)

f. Automobile expense $4,500

To Cash $4,500

(being cash paid is recorded)

g. Office salaries Dr $8,000

To cash $8,000

(being cash paid is recorded)

h Supplies expense $1,500

To supplies $1,500

(being supplies expense is recorded)

g. Dividend payable $1,500

To Cash $1,500

(being dividend paid is recorded)

The balance in the Prepaid Insurance account after the adjusting entries have been recorded represents the: A. cost of the insurance expired during the period B. value of the insurance prepayment that remains to benefit future periods C. cash paid for insurance of current and future periods D. amount owed for insurance at the end of the accounting period

Answers

Answer:

B.value of insurance prepayed

Bedard Corporation reported net income of $445,050 in 2020 and had 198,000 shares of common stock outstanding throughout the year. Also outstanding all year were 45,000 options to purchase common stock at $12 per share. The average market price of the stock during the year was $15.

Required:
Compute diluted earnings per share.

Answers

Answer:

$2.35

Explanation:

Convertible option = Total options available - [Total options available*Purchase price per share / Average market price per share]

Convertible option = 45,000 - [45,000*12/15]

Convertible option = 45,000 - 36,000

Convertible option = 9,000 shares

Weighted average number of shares = Common stock outstanding - Convertible option

Weighted average number of shares = 198,000 - 9,000

Weighted average number of shares = 189,000

Diluted earnings per share = Net income attributable to common stockholders / Weighted average number of shares

Diluted earnings per share = $445,050 / 189,000 shares

Diluted earnings per share = $2.354761905

Diluted earnings per share = $2.35

identify the leadership style that Jack should apply in each statement below.

Answers

Answer:

1.3.1 Charismatic leadership style

1.3.2 Transactional leadership style

1.3.3 Democratic leadership style

1.3.4 Laissez-faire leadership style

1.3.5 Autocratic leadership style

Padre holds 100 percent of the outstanding shares of Sonora. On January 1, 2013, Padre transferred equipment to Sonora for $112,000. The equipment had cost $147,000 originally but had a $57,000 book value and five-year remaining life at the date of transfer. Depreciation expense is computed according to the straight-line method with no salvage value.
Consolidated financial statements for 2015 currently are being prepared. What worksheet entries are needed in connection with the consolidation of this asset? Assume that the parent applies the partial equity method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
prepare journal entry TA
Prepare entry ED

Answers

Answer:

Journal Entry TA

Date Account Titles Debit Credit

Retained Earnings $33,000

Equipment $35,000

($147,000 - $112000)

Accumulated Depreciation $68,000

[(147000-57000)+(57000/5*2)-(112000/5*2)]

Journal Entry ED

Date Account Titles Debit Credit

Accumulated Depreciation $11000

[(112000-57000)/5]

Depreciation expense $11,000

explain its pros and cons of three bin system

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3 advantages and disadvantages of using Bin cards

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Advantages of Bin Cards :

(i) There would be less chances of mistakes being made as entries will be made at the same time as goods are received or issued by the person actually handling the materials.

(ii) Control over stock can be more effective, in as much as comparison of the actual quantity in hand at any time with the book balance is possible.

ADVERTISEMENTS:

(iii) Identification of the different items of materials is facilitated by reference to the Bin Card the bin or storage receptacle.

Disadvantages of Bin Cards :

(i) Store records are dispersed over a wide area.

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(iii) People handling materials are not ordinarily suitable for the clerical work involved in writing Bin Cards.

please make my answer as a brainlist answer

Monopoly in the competitive environment a. is enjoyed by few organizations as sole suppliers of a good or service. b. is typical of public utilities -- even more so now than twenty years ago. c. cannot be achieved temporarily even through the use of patents and similar legal devices. d. is the logical extension of a firm's control of its production and labor resources. e. is, all in all, the most common type of competition in the U.S. market.

Answers

Answer:

Explanation:

and services.

An example of a monopoly is a utility company

A natural monopoly occurs due to the high start-up costs or a large economies of scale.

Natural monopolies are usually the only company providing a service in a particular region

Because the demand curve for a monopoly is downward sloping, marginal revenue is less than price. As prices fall, more units of the product are bought.

In a monopoly When the average cost is falling, the marginal cost lies below the average cost. If the government sets price to be equal to marginal cost, which lies below the average cost, the monopoly would incur losses.

Morrison Company manufactures two products: digital cameras and video cameras. The company uses an activity-based costing system. The annual production and sales volume of digital cameras is 10,000 units and of video cameras is 8,000 units. Direct costs for the digital cameras are $122; for the video cameras, direct costs are $153.
For overhead costs, there are three activity cost pools with the following expected activities and estimated total costs:
Activity Cost Pool Estimated Cost Expected Activity Digital Cameras Expected Activity Video Cameras Total
Activity 1$30,000 100 500 600
Activity 2 $45,000 600 300 900
Activity 3 $96,600 400 2,000 2,400
Refer to Morrison Company. Using ABC, the total cost per digital camera is approximately:
Please show calculations!

Answers

Answer:

"$127.11 per unit" is the correct approach.

Explanation:

The activity cost as per the questions will be:

Activity 1:

= [tex]\frac{30,000}{600}[/tex]

= [tex]50[/tex] ($)

Activity 2:

= [tex]\frac{45000}{900}[/tex]

= [tex]50[/tex] ($)

Activity 3:

= [tex]\frac{96600}{2400}[/tex]

= [tex]40.25[/tex] ($)

Now,

The overhead cost for digital cameras will be:

= [tex](50\times 100)+(50\times 600)+(40.25\times 400)[/tex]

= [tex]5000+30000+16.100[/tex]

= [tex]51100[/tex] ($)

Per unit overhead cost will be:

= [tex]\frac{51100}{10000}[/tex]

= [tex]5.11[/tex] ($)

hence,

The total cost will be:

= [tex]Direct \ costs+Indirect \ costs[/tex]

= [tex]122+5.11[/tex]

= [tex]127.11 \ per \ unit[/tex] ($)

The following information is available from the current period financial statements: Net income $150,000 Depreciation expense 28,000 Increase in accounts receivable 16,000 Decrease in accounts payable 21,000 The net cash flow from operating activities using the indirect method is Group of answer choices $141,000 $173,000 $117,000 $215,000

Answers

Answer:

$141,000

Explanation:

Given the above information, the net cash flow is computed as shown below

= Net income + Depreciation expense - Increase in accounts receivables - Decrease in accounts payable

= $150,000 + $28,000 - $16,000 - $21,000

= $141,000

Therefore, the net cash flow from operating activities using the indirect method is $141,000

Do you think Hollywood and record companies have a right to alter or mandate changes to audio/video technology including TV's, TIVO, gaming consoles, DVR's, PC's, phones and IPODS, in order to insure or enforce copyright law?

Answers

Answer:

Yes

Explanation:

I think Hollywood and record companies have a right to mandate changes in order to insure or enforce copyright law.

This is because Copyright law sets out to protect ownership of an original creative work by preventing unauthorized usage of the work. The creative work can be in the form of ideas, artwork, book or other forms of media. hence Hollywood and record companies have a right to enforce copyright laws by mandating changes to audio or video technology .

Your goal is to have $10,000 in your bank account by the end of twelve years. If the interest rate remains constant at 9% and you want to make annual identical deposits, what amount will you have to deposit into your account at the end of each year to reach your goal

Answers

Answer:

Annual deposit= $496.51

Explanation:

Giving the following information:

Future value (FV)= $10,000

Interest rate (i)= 9%

Number of periods (n)= 12 years

To calculate the annual deposit, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (10,000*0.09) / [(1.09^12) - 1]

A= $496.51

Which of the following key factors, based on the case study, contributed to Euro Disney’s disappointing performance during its first year of operation? Group of answer choices lack of sufficient budget for marketing and promotional activities not enough training for personnel bad weather in the summer months SRC and a lack of understanding of the target market

Answers

Answer:

Lack of understanding of the target market.

Explanation:

Euro Disney's was not able to perform according their set targets. In the first year the performance of the Euro Disney was very poor because there was lack of understanding of target market, cultural issues between the two nations and their business approaches were completely different from each other.

At the fourth and final resource, one operator handles the product. No quality problems exist at this step and the processing time is 12 minutes per unit. For every unit of demand, how many units have to flow through the second step in the process

Answers

Answer:

2.25 units.

Explanation:

Processing time is 5 minutes per unit for step 1. The total capacity is 60 minutes then no. of units produced can be;

60 / 5 = 12 units per hour.

For second step processing time is 4 minutes per unit. There is 0.85 unit of product is scrapped. Then no. of units produced per hour can be ;

60 / 4 = 15 units per hour.

After scrap the net product units per hour will be;

15 units * [1 - 0.85] = 2.25 units per hour.

A project has an initial cost of $89,800, a life of 7 years, and equal annual cash inflows. The required return is 8.2 percent. According to the profitability index decision rule, what is the minimum annual cash flow necessary to accept the project?

Answers

8.2 percent (the answer)

Triptych Food Corp. Income Statement For the Year Ending on December 31 (Millions of dollars) Year 2 Year 1 Net Sales 6,350 5,000 Operating costs except depreciation and amortization 1,120 1,040 Depreciation and amortization 318 200 Total Operating Costs 1,438 1,240 Operating Income (or EBIT) 4,912 3,760 Less: Interest 663 489 Earnings before taxes (EBT) 4,249 3,271 Less: Taxes (25%) 1,062 818 Net Income 3,187 2,453 Calculate the profitability ratios of Triptych Food Corp. in the following table. Convert all calculations to a percentage rounded to two decimal places.

Answers

Question Completion:

The following shows Triptych Food Corp.'s income statement for the last two years. The company had assets of $10,575 million in the first year and $16,916 million in the second year. Common equity was equal to $5,625 million in the first year, 100% of earnings were paid out as dividends in the first year, and the firm did not issue new shares in the second year.

Answer:

Triptych Food Corp.

The profitability ratios of Triptych Food Corp.

Year 2 Year 1

Net profit margin 50.19% 49.06%

Return on total assets 18.84% 23.20%

Return on common equity 36.17% 43.61%

Basic earning power 29.04% 35.56%

Explanation:

a) Data and Calculations:

Income Statement For the Year Ending on December 31 (Millions of dollars) Year 2 Year 1

Net Sales $6,350 $5,000

Operating costs except

depreciation and amortization 1,120 1,040

Depreciation and amortization 318 200

Total Operating Costs 1,438 1,240

Operating Income (or EBIT) 4,912 3,760

Less: Interest 663 489

Earnings before taxes (EBT) 4,249 3,271

Less: Taxes (25%) 1,062 818

Net Income $3,187 $2,453

Total assets $16,916 $10,575

Common equity $8,812 $5,625

Profitability ratios and formulas:

Net profit margin = Net Income/Sales * 100

Return on total assets = Net Income/Total assets * 100

Return on common equity = Net Income/Common Equity * 100

Basic earning power = EBIT/Total assets * 100

Year 2 Year 1

Net profit margin 50.19% 49.06%

= ($3,187/$6,350 * 100) ($2,453/$5,000 * 100)

Return on total assets 18.84% 23.20%

= ($3,187/$16,916 * 100) ($2,453/$10,575 * 100)

Return on common equity 36.17% 43.61%

= ($3,187/$8,812 * 100) ($2,453/$5,625 * 100)

Basic earning power 29.04% 35.56%

= ($4,912/$16,916 * 100) ($3,760/$10,575 * 100)

Sandhill Inc. acquired 10% of the 420,000 shares of common stock of Schuberger Corporation at a total cost of $15 per share on June 17, 2020. On September 3, Schuberger declared and paid a $120,000 dividend. On December 31, Schuberger reported net income of $512,000 for the year. (b) Wen Corporation obtained significant influence over Hunsaker Company by buying 30% of Hunsakerâ€™s 112,000 outstanding shares of common stock at a cost of $18 per share on January 1, 2017. On May 15, Hunsaker declared and paid a cash dividend of $112,000. On December 31, Hunsaker reported net income of $212,000 for the year.

Required:
Prepare all necessary journal entries for 2017 for (a) Edelman and (b) Wen.