Answer and Explanation:
The preparation of the income statement is presented below:
Revenues
Fees earned $520,400
Total revenues $520,400
Less expenses:
Depreciation Expense $9,800
Insurance Expense $1,860
Miscellaneous Expense $3,920
Rent Expense $74,500
Salaries Expense $261,700
Supplies Expense $3,330
Utilities Expense $28,400
Total expenses $383,510
Net income $136,890
Answer:
$1000 is the correct answer.
Explanation:
Complete question:
Consider the game of chicken. Two players drive their cars down the center of the road directly at each other. Each player chooses SWERVE or STAY. Staying wins you the admiration of your peers (a big payoff) only if the other player swerves. Swerving loses face if the other player stays. However, clearly, the worst output is for both players to stay! Specifically, consider the following payouts. Player two Stay swervePlayer one stay -6 -6 2 -2 swerve -2 2 1 1
a) Does either player have a dominant strategy?
b) Suppose that Player B has adopted the strategy of Staying 1/5 of the time and swerving 4/5 of the time. Show that Player A is indifferent between swerving
and staying.
c) If both player A and Player B use this probability mix, what is the chance that they crash?
Explanation:
a. There is no dominant strategy for either player. Suppose two players agree to live. Then the best answer for the player is to swerve(-6 versus -2). Yet if the player turns two, the player will remain one (2 vs 1).
b. Player B must be shown to be indifferent among swerving and staying if it implements a policy (stay= 1⁄4, swerving= 5/4).
When we quantify a predicted award on the stay / swerving of Player A, we get
E(stay)= (1/5)(-6)+ (4/5)(2)= 2/5 E(swerve)= (1/5)(-2)
c. They both remain 1/5 of the time. The risk of a crash (rest, stay) is therefore (1/5)(1/5)= 1/25= 4%
Answer:
C) 15 months
Explanation:
As per the law, a company with two or more shareholders must hold an Annual AGM every year. The AGM for a new company must be held within the first nines months after the financial year.
The AGM for an existing company must be held not later than six months after the end of a financial year. However, the law has set 15 months as the maximum gap of time allowed between two general meetings.
