g On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable$170,000 Inventory$980,000 Accumulated Depreciation—Building750,000 Notes Payable250,000 Administrative Expenses435,000 Office Supplies20,000 Building3,500,000 Retained Earnings1,987,000 Cash80,000 Salaries Payable8,000 Common Stock300,000 Sales8,245,000 Cost of Goods Sold5,500,000 Selling Expenses575,000 Dividends175,000 Store Supplies90,000 Interest Expense15,000 a. Prepare a multiple-step income statement for the fiscal year ended March 31, 20Y9. Royal Furnishings Company Income Statement For the Year Ended March 31, 20Y9 $ Gross profit $ Expenses: $ Total expenses $ Other revenue and expense: $ b. What is a major advantage of the multiple-step income statement over the single-step income statement?

Danny "dimes" donahue is a neighborhood's 9-year-old entrepreneur. his most recent venture is selling homemade brownies that he bakes himself. at a price of $2 each, he sells 100. at a price of $1.5 each, he sells 300. instructions: round your answer to 1 decimal place. a. what is the elasticity of demand? 3.50 â± 0.1 . b. is demand elastic or inelastic over this price range? . c. if demand had the same elasticity for a price decline from $1.5 to $1 as it does for the decline from $2 to $1.5, would cutting the price from $1.5 to $1 increase or decrease danny's total revenue? .

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.

Which of the following will be a source of cash flows for a shareholder of a certain stock? i. sale of the shares at a future date ii. the firm in which the shares are held paying out cash to shareholders in the form of dividends iii. the firm in which the shares are held increasing the total number of shares outstanding through a stock split