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swat32
3 years ago
11

Paying for a WiFi Network. Consider a small town with 1,000 households. The town could install a wireless WiFi network that woul

d give everyone in town access to the Internet. Each household is willing to pay a maximum of $50 per year for the network, and the cost of the system is $20,000 per year. (Related to Application 1 on page 647.)a. Is the WiFi system efficient?b. Suppose the town asks for voluntary contributions to support the network. Would you expect the total contributions to cover the $20,000 cost?c. Suppose the town keeps track of the contributions and issues passwords to people who contributed at least $20. Would you expect the total contributions to cover the $20,000 cost?
Business
1 answer:
lesantik [10]3 years ago
6 0

Answer:

a.The efficiency of the WiFi system will depend upon the usage and the speed of internet provided by the ISP (Internet Service Provider). Keeping in mind that the town have 1,000 households the network to choose will need to be fast and reliable also each household should be allowed to download a certain amount of DATA via internet so that the each household can get benefit from the WiFi System.

b. If each household is willing to pay $50 per year the contribution received will be $50×1,000 = $50,000. So the cost of WiFi system will be recovered.

c. If the town keeps tracks of the contributions and ask the household to contribute at least $20 per year so yes the total cost of WiFi system will be recovered. $20× 1,000= $20,000

Explanation:

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In 2018, the Barton and Barton Company changed its method of valuing inventory from the FIFO method to the average cost method.
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Answer:

In Barton and Barton Company's general journal, entry required include:

Debit Retained Earnings Account with $8.2 million

Credit Opening Inventory with $8.2 million

Being reversal of overstated inventory due to change from FIFO to Average cost method.

Explanation:

The debit entry to the Retained Earnings Account will reduce the balance by $8.2 million.  The effect of overstating the closing inventory is overstatement of the net income because the cost of sales was understated as a result of the inventory overstatement.

The credit entry to the Opening Inventory reduces the balance to the new balance based on the average cost method of $23.8 million.

The FIFO cost method or First-In, First-Out method is an inventory costing method that assumes that goods that were bought first were the ones to be sold first.  The inventory cost is therefore valued with the most recent quantity and cost price.

On the other hand, the Average Cost Method, also called the Weighted Average Cost Method, calculates the inventory cost by adding all the period's inventory and dividing it by the quantity for the period.  This gives an average cost which is in turn used to multiply the quantity of inventory at the end of the period to obtain the inventory cost.

Both methods are estimates that produce different results and affect the reported net income differently.  There is always the need for consistency in choosing the method to apply so that reported net income is not unduly distorted.

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3 years ago
Question Number 4) A tool The Weather Channel uses to tell them what are the key elements of the role and what is the compensati
Sladkaya [172]

Answer:

I believe is the correct answer

Explanation:

weather indicator(s)

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2 years ago
Pepper Company provided the incomplete financial statements shown below as well as the following additional information: 1. All
Katen [24]

The missing amounts on the company's financial statements include the current asset of $880000, quick asset is $400000 and an inventory of $480000.

<h3>How to calculate the asset?</h3>

Based on the information given, it should be noted that the current assets will be:

= Current liability × Current ratio

= $320000 × 2.75

= $880000

The quick assets will be:

= $320000 × 1.25

= $400000

The inventory will be:

= $880000 - $400000

= $480000

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2 years ago
On November 1, 2016, Blossom Company places a new asset into service. The cost of the asset is $73000 with an estimated 10-year
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Answer:

$6,200

Explanation:

Using the straight-line method of depreciation, the depreciation expense is the same for each year during the estimated 10-year life of the asset. The yearly depreciation is given by:

D = \frac{73,000-11,000}{10}\\D= \$6,200

Blossom Company has a depreciation expense for 2017 of $6,200.

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3 years ago
A government had the following transfers reported in its governmental funds Statement of Revenues, Expenditures, and Changes in
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Answer:

The amount that would be shown as a transfer out in the governmental activities column in the Statement of Activities would be:

= $0.

Explanation:

a) Data and Calculations:

Transfer from the General Fund to a debt service fund = $1,100,000

Transfer from the General Fund to a special revenue fund = $500,000

Transfer out = $0

b) The transfers of $1,100,000 to the Debt Service Fund and $500,000 to the Special Revenue Fund are Internal Service funds involving governmental activities.  They are unlike enterprise funds that reach the control of the government's internal services.  In this case, therefore, there is no transfer out, as the transfers were within or internal.

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3 years ago
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