Answer:
1) many buyers and sellers, (2) free entry and exit
Explanation:
A monopolistic competition is when there are many buyers and sellers of heterogeneous goods and services. There are free entry of firms into and out of the industry. Firms set the price for their products. Buyers and sellers do not have perfect information. In the long run, monopolistic competition make zero economic profit.
A pure competition is characterised by many buyers and sellers of homogenous goods and services. Buyers and sellers have perfect information. There are no barriers to entry or exit of firms in the industry. Market price is set by the market forces. Firms make zero economic profit in the long run.
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Once every 10 years, the Census Bureau does a comprehensive survey of housing and residential finance.
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Answer:
NPV is $28.5 million
Payback is 4.31 years
IRR is 13.25%
MIRR is 12.51%
Explanation:
The NPV,payback period,Internal rate of return and modified internal rate of return were computed in the attached spreadsheet.
Payback period=the year of the first positive cumulative cash flow+the year cumulative cash flow/the next year cash flow
the year of first positive cumulative flow is year 4
the cumulative cash flow for year 4 is $66 m
the next year cash flow is(year 5) is $210
payback=4.31
Answer and Explanation:
The journal entries are shown below:
On Apr 2
Petty cash $290
To Cash $290
(Being the establishment of the petty cash fund is recorded)
For recording this we debited petty cash as it increased the cash and credited the cash as it reduced the assets
On Apr 10
Mail & Postage $62
Contributions and Donations $33
Meals & entertainment $114
Cash Short and Over $4 ($290 - $62 - $33 - $114 - $77)
To Cash $213
(Being the replenishment of the fund is recorded)
For recording this, we debited the mail & postage, contributions & donations, meals & entertainment as it increased the expenses and credited the cash as it reduced the assets and the balancing figure is debited to cash short and over
On Apr 11
Petty Cash $140 ($430 - $290)
To Cash $75
For recording this we debited petty cash as it increased the cash and credited the cash as it reduced the assets
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