adeebziach

adeebziach

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adeebzia601.ajkKing's College London

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i am a student and also wnt to teach others

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English1Science1Sociology1Algebra1Computer Science1Accounting7Biology13Chemistry5
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Assume that the cost data in the following table are for apurely competitive producer

Total Average Average Average Marginal

Product Fixed cost Variaiblecost TotalCost Cost

0

1 $60.00 $45.00 $105.00 $45

2 30.00 42.50 72.50 35

3 20.00 40.00 60.00 35

4 15.00 37.50 52.50 30

5 12.00 37.00 49.00 35

6 10.00 37.50 47.50 40

7 8.57 38.57 47.14 45

8 7.50 40.63 48.13 55

9 6.67 43.33 50.00 65

10 6.00 46.50 52.50 75

a. At a product priceof $56, will this firm produce in short run? If it is preferableto

Produce, whatwill be the profit-maximizing or loss-minimizing output?

What economyprofit or loss will the firm realize per unit of output?

b. Answer the questions of 4aassuming a producer price is $41.

c. Answer the question of 4 a assumingproducer price is $32.

d. In the table below,complete the short-term supply schedule for firm

(columns 1 and 2 ) andindicate the profit or loss incurred at each output (column 3.

(2) (4)

Quantity (3) Quantity

(1) Supplied Profit(+) Supplied

Price Single Firm or Loss(-) 1,500 Firms

$26 --------- $-------- -------------

32 ---------- --------- -------------

38 ----------- ---------- ---------------

41 ------------ ---------- ----------------

46 ------------- ------------ ---------------

56 -------------- ------------- ---------------

66 --------------- -------------- ----------------

e. Now assume that there are1,500 identical firms in this competitive industry; that is,

there are 1,500 firmseach of which has the cost data shown in the table.

Complete the industrysupply schedule (column 4).

f. Suppose the market demand data for the product are asfollows

Total Quantity

Price Demanded

$26 17,000

32 15,000

38 13,500

41 12,000

46 10,500

56 9,500

66 8,000

What will be the equilibrium price? What will be the equilibriumout for the industry?

For each firm? What will profit or loss be per unit? Per Firm?Will this industry expand or contact in the long run?

Answer: Given the cost data table, we'll address each question step-by-step:St...
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Answer: a. Expected Cash Collections:- November: $363,500- December: $304,500b...

Question 5: Preparation of budget

Everywhere Sports is a retail store in Parramatta supplying sporting equipment to the local community sports clubs. Information about the store's operations is as follows:

▪ November sales amounted to $200 000.

▪ Sales are budgeted at $220 000 for December and $200 000 for January.

▪ Receipts are expected to be 60 per cent in the month of sale and 38 per cent in the month following the sale. Two per cent of sales are expected to be uncollectable.

▪ The store's gross margin is 25 per cent of its sales revenue.

▪ A total of 80 per cent of the merchandise for resale is purchased in the month prior to the month of sale, and 20 per cent is purchased in the month of sale. Payment for merchandise is made in the month following the purchase.

▪ Other monthly expenses paid in cash amount to $22 600.

▪ Annual depreciation is $216 000.

The balance sheet of Everywhere Sports as at 30 November is:

Everywhere Sports Balance Sheet 30 November

Assets:
Cash $22 000
Accounts receivable (net of $3 500 allowance for uncollectable accounts) 76 000
Inventory 140 000
Property, plant and equipment (net of $590 000 accumulated depreciation) 862 000
Total assets $1 100 000
Liabilities and shareholders' equity:
Accounts payable $ 162 000
Ordinary shares 795 000
Retained earnings 143 000
Total liabilities and shareholders' equity $1 100 000
Required:
1. Prepare schedule of budgeted cash receipts for December.
2. Prepare budgeted profit and loss statement for December.
3. Calculate the projected balance in accounts payable on 31 December.

Answer: 1. Budgeted cash receipts for December = $208,0002. Net Profit for Dec...
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Please help answer below questions:

Akers Transport is a small transport and courier entity that provides logistic services for online traders. All work is provided on 30-day credit terms. The cash balance at 1 January 2016 was $31,?600. The following estimates have been made with respect to the first three months of operation in 2016.

January February March
Credit Sales/Fees $164 000 $270 000 $310 000
General admin expenses 26 000 32 000 41 250
Utilities 4 250 5 100 6 170
Wages 89 200 86 500 82 300
Loan - principal 15 000
Loan interest expense 3 500
Marketing expenses 13 680 13 680 13 680
Vehicle related expenses 34 200 35 600 36 900
Depreciation on vehicle fleet 3 200 3 200 3 200
Dividend paid 15 000

Additional information

Past experience suggests that accounts receivable usually settle accounts according to the following pattern:

50 per cent in the month following the sale

40 per cent in the second month following the sale

10 per cent in the third month following the sale.

Sales for the last three months of 2015 were as follows:

$210,?000 in October

$282,000 in November

$303,000 in December.

As bad debts have not been an issue for Akers Transport, it is expected that all customers will pay their monies owing.

The vehicle-related expenses for March include an amount of $2,300 that will not be paid until April.

The marketing expenses for March include an amount of $4,200 paid for advertising to be conducted in April.

The loan interest expense will not be paid until April 2016.

Required:

Prepare a schedule of receipts from accounts receivable.

Using the schedule of receipts calculated in part 1, prepare a cash budget for the 3 months ending 31 March 2016.

Answer: you should have both a schedule of receipts and a cash budget for the ...

 

Budgeted Anancial statements: retaller

Everywhere Sports Is a retall store supplying sporing equipment to community sports

clubs. Information

about the store's operations is as follows:

November sales amounted to $400 000

Sales are budgeted at $440 000 for December and $400 000 for January.

Receipts are expected to be 60 per cent in the month of sale and 38 per cent in the month following the

sale. Two per cent of sales receipts are expected to be uncollectable

The store's gross margin is 25 per cent of its sales revenue

A total of 8O per cent of the merchandise for resale IS purchased in the month prior to the month of sale.

and 20 per centis purchased in the month of sale. Paymentf fori merchandise IS made in the month following

the purchase,

Other monthly expenses pald in cash amount to $45 200

Annual depreciation is $432 000

The balance sheet of Everywhere Sports as at 30 November is

Everywhere Sports

Balance sheet 30 November

Asset:

Cash

44000

152 000

280 000

1724 000

$2 200 000

Accounts reccivable (net of $7 000 allowance for uncollectable accounts)

Inventory

Property. plant and equipment (net of $1 180 000 accumulated depreciation)

Total asscts

Liabiliues and sharcholders' cquity:

Accounts payable

Ordinary shares

Retained earnings

Total liabilities and sharcholders' equity

324 000

1590 000

286000

$2_200 000

Required:

Calculate the following amounts:

1. budgeted cash receipts for December

2. budgeted profit (loss) before income taxes for December

3. projected balance in accounts payable on 31 December.                                          

Answer: 1. $416,0002. -$301,200 (a loss)3. $408,000Step-by-step explanation:Al...
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