Hilliard Company budgeted the following transactions for April Year 2: Sales (75% collected in month of sale) $ 340,000 Cash Operating Expenses 119,000 Cash Purchases of Investment 89,000 Cash Payment of Debt 29,000 Depreciation on Operating Assets 40,000 The beginning cash balance was $78,000. The company desires to have a $137,000 ending cash balance. The surplus (or shortage) of cash before considering any borrowings in April would be:

The distinction between a normal and an inferior good is

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

At a roundabout, you must yield to a. already in the roundaboutb. entering the roundaboutc. only if their turn signal is ond. only if they honk at you