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According to a study of U.S. cigarette sales between 1955 and 1985, when the price of cigarettes was 1% higher, consumption would be 0.4% lower in the short run and 0.75% lower in the long run. a. Calculate the short and long run price elasticity’s of the demand for cigarettes b. Is demand more or […]

My campus has decided to enhance security by installing high-definition IP cameras throughout its campus network. After evaluating different products, the Cisco 4300 Video Surveillance camera was chosen as the standard. We recognizes that the additional camera traffic, along with its management, will require a major upgrade to the network infrastructure. I am asked to […]

Chapter 11 Problem 4 The Baron Basketball Company (BBC) earned $10 a share last year and paid a dividend of $6 a share. Next year, you expect BBC to earn $11 and continue its payout ratio. Assume that assume that you expect to sell the stock for $132 a year from now. If you require […]

The expected pretax return on three stocks is divided between dividends and capital gains in the following way: Stock Expected Dividend Expected Capital Gain A $0 $28 B 14 14 C 28 0 a. If each stock is priced at $100, what are the expected net returns on each stock to (i) a pension fund […]

The petty cash fund of the Rio Agency is established at $75. At the end of the current period, the fund contained $14 and had the following receipts: film rentals, $19, refreshments for meetings, $23 (both expenditures to be classified as Entertainment Expense); postage, $6; and printing, $13. (a) Prepare journal entries to record establishment […]

All problem sets must be completed in  one  Excel workbook.  To receive credit,  problems and answers must be legible  and work must be shown. 1. Listed below in alphabetical order are the balance sheet items of Johnson Company at December 31, 2 0 11 . Prepare a proper balance sheet. Accounts payable $ 9,000 Accounts […]

Remember to show all work for the problem sets below. The work may be submitted either in a Microsoft Word or Excel document. The answers must be legible. Income statement preparation On December 31, 2009, Cathy Chen, a self-employed certified public accountant (CPA), completed her first full year in business. During the year, she billed […]

PROBLEMS CHAPTER 16, 17, 18 ACCOUNTING PROBLEMS 16.1. On a typical day, Park Place Clinic writes $1,000 in checks. It generally takes four days for those checks to clear. Each day the clinic typically receives $1,000 in checks that take 3 days to clear. What is the clinic’s average net float? 16.2. Drug’s R Us […]

Malaviya Corporation uses the FIFO method in its process-costing system. Operating data for the Casting Department for the month of September appear below: Units Percent Complete with Respect to Conversion Beginning work in process inventory 17,000 40% Transferred in from the prior department during September 72,000 Ending work in process inventory 18,000 30% According to […]

Summarizing and Reflection In this final unit you will summarize your final Project submitted in Unit 8 in a Microsoft PowerPoint© presentation consisting of 10 slides not including the title and reference slide. Make sure to put three – five bulleted points on each slide and put detailed notes in the Notes section. Submit your […]