Bavarian bar and grill opened for business in november 2018. during its first two months of operation, the restaurant sold gift certificates in various amounts totaling $5,200, mostly as christmas presents. they are redeemable for meals within two years of the purchase date, although experience within the industry indicates that 80% of gift certificates are redeemed within one year. certificates totaling $1,300 were presented for redemption during 2018 for meals having a total price of $2,100. the sales tax rate on restaurant sales is 4%, assessed at the time meals (not gift certificates) are purchased. sales taxes will be remitted in january. required: 1. prepare the appropriate journal entries (in summary form) for the gift certificates sold during 2018 (keeping in mind that, in actuality, each sale of a gift certificate or a meal would be recorded individually). 2. determine the liability for gift certificates to be reported on the december 31, 2018, balance sheet. 3. what is the appropriate amount for each classification (current or noncurrent) of the liabilities at december 31, 2018?

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Consider the local telephone company, a natural monopoly. the following graph shows the monthly demand curve for phone services and the company’s marginal revenue (mr), marginal cost (mc), and average total cost (atc) curves. 0 2 4 6 8 10 12 14 16 18 20 100 90 80 70 60 50 40 30 20 10 0 price (dollars per subscription) quantity (thousands of subscriptions) d mr mc atc 8, 60 suppose that the government has decided not to regulate this industry, and the firm is free to maximize profits, without constraints. complete the first row of the following table. pricing mechanism short run long-run decision quantity price profit (subscriptions) (dollars per subscription) profit maximization marginal-cost pricing average-cost pricing suppose that the government forces the monopolist to set the price equal to marginal cost. complete the second row of the previous table. suppose that the government forces the monopolist to set the price equal to average total cost. complete the third row of the previous table. under average-cost pricing, the government will raise the price of output whenever a firm’s costs increase, and lower the price whenever a firm’s costs decrease. over time, under the average-cost pricing policy, what will the local telephone company most likely do

What is the correct percentage of texas teachers charged with ethics violations each year?