Consider the following data from the market demand and supply for apartments.
Rent Quantity Demanded Quantity Supplied
$2,000 5,000 23,000
$1,800 8,000 20,000 $1,600 11,000 17,000
$14,000 $1,400 14,000
$1,200 17,000 11,000
$1,000 20,000 8,000
A. Suppose that the average monthly rent for apartments is $1,200. At this price, how many apartments will be rented in this market?
B. Is the market currently in equilibrium, experiencing a shortage, or experiencing a surplus?
C. What do you expect to happen to the average rent?
D. What is the equilibrium rent and quantity in the market?

Answer:

11,000

Shortage

rise

$14,000 14,000

Explanation:

At the price of $1200, only 11,000 apartments would be rented. This is the quantity supplied.

Because the quantity demanded (17,000) exceeds the quantity demanded (11,000), there is a shortage. Shortage exists when quantity supplied exceeds quantity demanded. Generally, when price is below equilibrium, there is a shortage.

Due to demand exceeding supply, prices would rise until equilibrium is restored.

Equilibrium price is the price at which quantity demanded equals quantity supplied. Equilibrium quantity is the quantity where quantity demanded equals quantity supplied

You just took an Uber from home to campus for the first time and were willing to pay $13 for the trip. It was so much easier than driving yourself that you are willing to pay $21 for the same trip tomorrow. Determine if you have violated the law of demand based on your choices, and why or why not that is the case.

Team managers need to monitor and reward the team’s progress. How can the manager of a virtual team best do this? Check all that apply. Post targets and progress reports in a shared online workspace. Analyze electronic communication patterns. Have online recognition ceremonies to celebrate accomplishments. Wait to tell people they’re doing a good job until an in-person meeting can occur.

You need an inexpensive, reliable network for about twenty-five computers, all of which will be in two rooms. It is important that the network not entirely depend on one hub or one node. However, nodes will regularly be added and removed from the network, so flexibility is essential. Which topology should you use?

a.bus
b.mesh
c.star
d.ring​

Decisions about pricing strategies should be set in conjunction with other marketing decisions about product design, packaging, branding, distribution, and promotion. All these marketing decisions are interrelated. Prices must be related to the cost of producing the product and prices are usually set somewhere above cost. But price and cost aren't always related. There are three major approaches to pricing strategy: cost-based, demand-based (target costing), and competition-based. Other pricing strategies include skimming price strategy, penetration strategy, everyday low pricing (EDLP), high-low pricing strategy, bundling, psychological pricing, and demand-oriented pricing. Match each scenario to the strategy it best illustrates.
1. When the Mays family went to Europe, they used a travel agent who worked out a trip that included airfare, hotels, and some tours all for one price.
2. Marquis Suites shows movies in a "living room" atmosphere with comfortable chairs and food and beverage service. It deliberately charges more than other theaters for this experience.
3. Chad is a do-it-yourself guy. He shops at Home Depot because, although they don’t usually run sales, he knows the store will offer the lowest price around on the tools he needs.
4. A major national retailer charges "full retail" for most of the lines it carries but runs "special sales" during which the company lowers its price.
5. When Walmart enters a new geographic area, the company undersells its more well-established competitors and eventually raises its prices once it has a loyal customer base.
6. When Aaron was looking for mortgage lenders, he noticed that one major lender lowered their rates, and several others did the same within a few days.
7. Larry Dietzel, a real estate agent, advised his clients to price their home at $199,900 when they listed with his agency.
8. Overture Audio home theater systems can run as high as $100,000 but there are only a few companies offering the systems.
9. Toyota’s approach to entering the U.S. market was to set a certain net profit margin, then determine what price the company had to offer to get Americans to buy its cars instead of domestic cars.
A. Psychological pricing
B. Bundling
C. Target costing
D. Penetration pricing
E. High-low pricing
F. Competition-based pricing
G. Price leadership
H. Skimming price
I. Everyday low pricing (EDLP)

If the government places a $2 tax per bag of potato chips on the producers, what would the consumers of potato chips observe? a. There would be no change in price and the consumer would not notice. b. The government would tax individuals who bought too many potato chips. c. Consumers would pay the full $2 tax in the form of a price increase. d. The price of potato chips would rise by some amount, but by less than $2.

A small company wishes to set up a fund that can be used for technology purchases over the next 6 years. Their forecast is for $16,000 to be needed at the end of year 1, decreasing by $2,000 each year thereafter. The fund earns 6% per year. How much money must be deposited to the fund at the end of year 0 to just deplete the fund after the last withdrawal

Name at least 4 of the sources of ethical issues

Urshela Company paid four months insurance on October 1, 2017 for $13,200. Urshela originally recorded the full insurance payment in the prepaid insurance account, Urshela operates on a calendar year basis. What adjusting journal entry would Urshela be required to make at 12/31 to properly recognize insurance expense for the year

Focus groups an example of what type of research

The following accounts were taken from the unadjusted trial balance of Legislative Results Inc., a congressional lobbying firm. Indicate whether or not each account would normally require an adjusting entry. If the account normally requires an adjusting entry, use the following notation to indicate the type of adjustment:To illustrate, the answer for the first account follows:________.AR—Accrued Revenue Normally requires adjustment (AR).AE—Accrued ExpenseUR—Unearned RevenuePE—Prepaid Expense

Precilla Company uses a standard costing system that allows 2 pounds of direct materials for one finished unit of product. During July, the company purchased 40,000 pounds of direct materials for $210,000 and manufactured 12,000 finished units. The standard direct materials cost allowed for the units manufactured is $120,000. The performance report shows that Pricilla has an unfavorable direct materials usage variance of $5,000. Also, the company records any price variance for materials at time of purchase. The actual number of pounds (AQ) of direct materials used to produce July's output was: ___________

a. 20,000 pounds.
b. 25,000 pounds.
c. 12,000 pounds.
d. 40,000 pounds.
e. 24,000 pounds.

What level of government is most closely associated with zoning?

a.local
b.interstate
c.federal
d.state

As of December 31, 2019, Sheffield Corp. had $3000 of raw materials inventory. At the beginning of 2019, there was $2500 of materials on hand. During the year, the company purchased $375000 of materials; however, it paid for only $322500. How much inventory was requisitioned for use on jobs during 2019

Decorative Concrete produces a concrete overlay for residential and commercial concrete flooring. Customers have complained that one of the products results in excessive cracking. The likelihood the company will incur a loss on this product is probable and the amount of the loss is estimated to be somewhere between $1.1 and $4 million.
1. Should this contingent liability be reported, disclosed in a note only, or both? To be reported To be disclosed Both2. What loss, if any, should Decorative Concrete report in its income statement?3. What liability, if any should Decorative Concrete report in its balance sheet?4. What entry, if any should be recorded in the journal?

Green Day Corporation has outstanding 500,000 shares of $10 par value common stock. The corporation declares a 70% stock dividend when the fair value of the stock is $45 per share. Prepare the journal entries for Green Day Corporation for both the date of declaration and the date of distribution.

Explain in your own words the process of Accounting cycle. Marks will be only given if written in own words and is not copy pasted.

Frances Newberry is the payroll accountant for Pack-It Services of Jackson, Arizona. The employees of Pack-It Services are paid semimonthly. An employee, Glen Riley, comes to her on November 6 and requests a pay advance of $1,650, which he will pay back in equal parts on the November 15 and December 15 paychecks. Glen is married with eight withholding allowances and is paid $58,640 per year. He contributes 3 percent of his pay to a 401(k) and has $25 per paycheck deducted for a Section 125 plan.

Required:
Compute his net pay on his November 15 paycheck.

What requires frequent safety and health inspections

For each of the following transactions, indicate whether it represents an increase in the U.S. gross domestic product (GDP), and, if so, state whether it represents U.S. consumption, investment, government purchases of goods or services, or net exports. If the transaction does not change U.S. GDP explain why not?

a. Ms. Scott buys a used Honda Accordfrom her friend Danielle for $7,500.
b. You spent $12,500 on college tuition this year.
c. Pizza Hut buys 100 pounds of cheese from Wisconsin to make pizzas.
d. Mr. Luong is a Chinese citizen who works as a Chemistry teaching assistant at UC Mercedandearns $16,000 a year in salary.
e. A candy store buys $500 worth of chocolates made in Belgium.
f. Boeing produces 5 airplanes but are unable to sell them.

. Suppose this year you buy 5% coupon rate, $100 face value bond for $90 that has 3 years left till maturity. Suppose next year market interest rates decrease to 2% and you decide to sell it your bond that year.a) Calculate the selling price of your bond next year. In another words, what price would make your bond competitive when market yields are at 2.0%?

Air United, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 50 range instruments and 200 pressure gauges were produced, and overhead costs of $97,045 were estimated. An analysis of estimated overhead costs reveals the following activities.

Activities Cost Drivers Total Cost
1. Materials handling Number of requisitions $40,000
2. Machine setups Number of setups 21,500
3. Quality inspections Number of inspections 33,000
$94,500
The cost driver volume for each product was as follows:
Cost Drivers Instruments Gauges Total
Number of requisitions 400 600 1,000
Number of setups 200 300 500
Number of inspections 200 400 600

Required:
a. Determine the overhead rate for each activity.
b. Assign the manufacturing overhead costs for April to the two products, using activity-based costing.

Piekos Corporation incurred $90,000 of actual Manufacturing Overhead costs during June. During the same period, the Manufacturing Overhead applied to Work in Process was $92,000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:

The Clark Sports Camp operates three sports programs: basketball, lacrosse and field hockey. The camp provides a unique opportunity for boys and girls to engage in intensive summer sports activities. Parents often bring their all of children for the six week session. Due to diminishing profits in the basketball program, they are considering eliminating the basketball program. Camp owner Mikey Matheny has asked you to review the income statement, determine the impact on profit from dropping the basketball program and make a recommendation.
Clark Sports Camp Project Income Statement
Total Basketball Lacrosse Field Hockey
Camp Tuition $190,000 $75,000 $65,000 $50,000
Variable Costs $26,000 $12,000 $8,000 $6,000
for Food and Staff
Contribution Margin $ 164,000 $63,000 $57,000 $44,000
Fixed Expenses
Rent - Traceable $25,000 $10,000 $7,500 $7,500
Salaries of Sports $21,000 $10,000 $10,000 $1,000
Program Directors*
Allocated Common $90,000 $41,538 $27,692 $20,769
Fixed Expenses**
Total Fixed Expenses $136,000 $61,538 $45,192 $29,269
Net Operating Income $28,000 $1,462 $11,808 $14,731
(Loss)
*There is NO alternative work for the sports directors, if the sport program is eliminated, the sport program director will be eliminated.
**Common Fixed Costs are allocated based upon the number of campers but will remain constant.
Use the information above to answer questions 1-3.
1. What is the impact on profit if the basketball program is dropped?
2. For partial credit on the problem above, you can upload a spreadsheet here. (You will not receive full credit for the problem shown above if you do not upload a spreadsheet.)
3. Assume now that we are able to eliminate $50,000 of the allocated fixed costs if we drop the basketball program. What do you recommend? Write a memo to Mr. Matheny outlining your recommendation and your reasoning. Be sure to consider all of the stakeholders and use an appropriate decision model.

For each separate case below, follow the 3-step process for adjusting the accrued expense account: Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record an adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year.

a. Salaries Payable. At year-end, salaries expense of $18,500 has been incurred by the company, but is not yet paid to employees. Interest Payable. At its December 31 year-end, the company owes $400 of interest on a line-of-credit loan. That interest will not be paid until sometime in January of the next year.
b. Interest Payable. At its December 31 year-end, the company holds a mortgage payable that has incurred $1,025 in annual interest that is neither recorded nor paid. The company intends to pay the interest on January 7 of the next year.
c. Interest Payable. At its December 31 year-end, the company holds a mortgage payable that has incurred $875 in annual interest that is neither recorded nor paid. The company intends to pay the interest on January 7 of the next year.

Doug works as the Heavy Haul Manager for Lone Star Transportation. He is currently working on a wind farm project and deciding which drivers of his team will work on the project and which field supervisors will work on communicating with GE who is building the wind farm. He is also assigning drivers certain sections of the wind turbines to ensure that the parts are delivered in the correct order for the project. Which of the following management functions is Doug undertaking?
A. Scrutinizing.
B. Planning.
C. Organizing.
D. Envisioning.
E. Controlling.

have you done something mean today lol what did you do

A company which uses austenitic nickel chromium ions to manufacture resistance heating wire is considering a new annealing drawing process to reduce cost. If the new process will cost $1.75 million dollars now, how much must be saved each year to cover the investment in ten years at an interest rate of 12%

Assume an investor acquired 100% of the voting common stock of an investee on January 1, 2012 in a transaction that qualifies as a business combination. As a result of the acquisition, the investor recognized no goodwill and no bargain purchase gain in the post-acquisition consolidated financial statements (i.e., all of the resulting Acquisition Accounting Premium relates to identifiable net assets). The investor uses the equity method to account for its pre-consolidation investment in the investee. In addition, there are no intercompany transactions between the investor and investee. The following summarized pre-consolidation financial statement information is for the year ending December 31, 2019

Income Statement Investor Investee
Revenues $2,232,000 $307,200
Income from Investee 141,600 0
Expenses (1,800,000) (156,000)
Consolidated net income 573,600 151 ,200
NCI - -
Net income $573,600 $151,200
Statement of Retained Earnings
Retained earnings, January 1 $720,000 $36,000
Net income 573,600 151 ,200
Dividends declared 60,000 36,000
Retained earnings, December 31 $1,233,600 $151,200
Balance Sheet
Investment in Investee $283,200 $0
All other assets 4,598,400 384,000
Total assets $4,881,600 $384,000
Liabilities $2,880,000 $128,000
Common stock and additional paid-in capital 768,000 84,000
Retained earnings 1,233,600 151 ,200
Total liabilities and equity $4,881,600 $384,000

What amount of "expenses" will appear in the consolidated income statement for the year ending December 31, 2019?

a. $1,800,000
b. $1,956,000
c. $1,975,200
d. $1,965,600

Use the following information to answer this question.

Windswept, Inc. 2010 Income Statement ($ in millions)

Net sales $10,700
Less: Cost of goods sold 8,050
Less: Depreciation 380
Earnings before interest and taxes $2,270
Less: Interest paid 104
Taxable Income $2,166
Less: Taxes 650
Net income $1,516

Required:
What amount should be included in the financing section of the 2010 statement of cash flows for dividends paid?

Identifying various components that are at higher risks and standardizing it.

a. In Toyota's case it was certain parts across Japanese automakers which was considered as a risk for revenue and disruption of production.
b. Toyota is now sourcing of engines and transmissions in the locally.
c. Toyota brought out fix solutions to the affected vehicles which took mass media and online tools for its advantage and also teams to monitor quality issues.