Answer:
The Journal entries are as follows:
(i) On January 1,
Cash A/c Dr. 26,000
To Unearned subscription revenue 26,000
(To record the receipt of the subscriptions)
(ii) On March 25,
Unearned subscription revenue A/c Dr. $500
To subscription revenue $500
(To record the one week of earned revenue)
Working notes:
subscription revenue for 1 week = 260 × 100 × (1 ÷ 52
)
= $500
While in the short run an economic profit is more likely in an unregulated monopoly,<u> any of the above</u> may group competing resources and create a new power base to challenge the existing monopoly.
Unregulated monopolies have market power and can affect prices. Examples: Microsoft and Windows, DeBeers and Diamonds, and local natural gas companies. Individual restaurants and other products that enjoy "brand loyalty" in a highly competitive market choose prices and production in the same way as monopolies.
Unregulated monopoly: Standard calculations show that an unregulated monopoly produces y = 80 and the price is p = 60. AR (y) = (200y) / 2. y = 150 or 10. Therefore, there are two outputs, AC = AR: 10 and 150.
An unregulated monopoly provider is probably inefficient when it comes to allocations, as the price of a monopoly is higher than the MC. In a highly competitive market, prices will be lower and more consumers will benefit from purchasing goods. Monopoly leads to a loss of surplus welfare for consumers and producers.
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Answer:
(A) in the summary of significant accounting policies.
Explanation:
It has the company's financial statements and also describes the key policies that are being followed by the accounting department. This policy summary is mandated by the accounting framework like IFRS or GAAP.
Answer:
Net Income = $642,000
Explanation:
Income Statement
Sales 3,000,000
Less: Cost of Goods Sold (<u>1,500,000)</u>
Gross Profit 1,500,000
Less: Administrative Expenses (150,000)
Marketing Expenses (80,000)
Depreciation Expense <u>(170,000)</u>
Operating Income 1,100,000
Less: Interest Expense <u>(30,000)</u>
Earnings before Taxes 1,070,000
Less: Taxes (40%) <u> (428,000)</u>
Net Income <u>642,000</u>
The core job dimension which describes this work team is TASK IDENTITY.
Task identity refers to the overall extent to which an identifiable job is done from the starting point to the finish point by a single worker. Task identity is an important component of job satisfaction and employers use this technique to increase the satisfaction that the employees derived from their works.