Answer:
Elasticity does not have a unit because it is a pure number
Demand is Elastic
TR decrease due to the demand been elastic. a rise in tuition fee causes the total revenue to decrease
Explanation:
Tuition fees increment by 25%
Student enrollment decreases by 3.5%
Price elasticity of demand=%change in quantity demanded / %change in price
= -3.5/ 2.5
= -1.40
Explanation:
The preparation of the retained earnings statement for the year ended December is presented below:
Culver Corporation
Retained Earning statement
For the year ended December 31, 2017
Beginning balance of retained earning $718,500
Add: Correction recorded $86,470
Add: Net income $1,596,000
Less: Cash Dividend paid -$80,500
Ending balance of retained earning $2,320,470
Answer:
by allowing the policyholder to make premium payments
Explanation:
Answer:
$90.69
Explanation:
Current share price can be determined by calculating the present value of the cash flows
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 1 to 9 = 15.25
I = 9.2
PV = 90.67
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Answer:
$16,660
Explanation:
Given that,
Merchandise inventory sold on account = $17,000
Payment terms are as follows: 2/10, n/30
Cost of merchandise sold = $13,000
Therefore, the amount of cash was collected by Devonshire is the amount of cash after deducting the 2 percent of merchandise inventory.
Cash was collected by Devonshire:
= Amount of merchandise sold × (1 - 2%)
= $17,000 × (1 - 0.02)
= $17,000 × 0.98
= $16,660
