Grandview park was started on april 1 by r. s. francis and associates. the following selected events and transactions occurred apr. 1 stockholders invested exist48, 200 cash in the business in exchange for common stock. 4 purchased land costing exist29, 900 for cash. 8 incurred advertising expense of exist1, 880 on account. 11 paid salaries to employees exist1, 960. 12 hired park manager at a salary of exist4,000 per month, effective may 1. 13 paid exist1, 940 cash for a one-year insurance policy. 17 declared and paid a exist1, 690 cash dividend. 20 received exist4, 900 in cash for admission fees. 25 sold 158 coupon books for exist30 each. each book contains 10 coupons that entitle the holder to one admission to the 30 received exist8, 200 in cash admission fees. 30 paid exist570 on balance owed for advertising incurred on april 8. grandview uses the following accounts: cash, prepaid insurance, land, accounts payable, unearned service revenue, common advertising expense, and salaries and wages expense. journalize the april transactions. (credit account titles are automatically indented when the amount is entered. do not required, select "no entry" for the account titles and enter 0 for the amounts.)

Consider how health insurance affects the quantity of health care services performed. suppose that the typical medical procedure has a cost of $160, yet a person with health insurance pays only $40 out of pocket. her insurance company pays the remaining $120. (the insurance company recoups the $120 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undergo.) consider the following demand curve in the market for medical care. use the black point (plus symbol) to indicate the quantity of procedures demanded if each procedure has a price of $160. then use the grey point (star symbol) to indicate the quantity of procedures demanded if each procedure has a price of $40. q d at p=$160 q d at p=$40 0 10 20 30 40 50 60 70 80 90 100 200 180 160 140 120 100 80 60 40 20 0 price of medical procedures quantity of medical procedures demand if the cost of each procedure to society is truly $160, the quantity that maximizes total surplus is procedures. economists often blame the health insurance system for excessive use of medical care. given your analysis, the use of care might be viewed as excessive because consumers get procedures whose value is than the cost of producing them.

Which of the following is one of the main causes of inflation? a. wages drop so workers have to spend a higher percentage of income on necessities. b. demand drops and forces producers to charge more to meet their costs. c. rising unemployment cuts into national income. d. consumers demand goods faster than they can be supplied.

Milden company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. as an aid in planning, the company has decided to start using a contribution format income statement. to have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas: cost cost formula cost of good sold $35 per unit sold advertising expense $210,000 per quarter sales commissions 6% of sales shipping expense ? administrative salaries $145,000 per quarter insurance expense $9,000 per quarter depreciation expense $76,000 per quarter management has concluded that shipping expense is a mixed cost, containing both variable and fixed cost elements. units sold and the related shipping expense over the last eight quarters follow: quarter units sold shipping expense year 1: first 10,000 $ 119,000 second 16,000 $ 175,000 third 18,000 $ 190,000 fourth 15,000 $ 164,000 year 2: first 11,000 $ 130,000 second 17,000 $ 185,000 third 20,000 $ 210,000 fourth 13,000 $ 147,000 milden company’s president would like a cost formula derived for shipping expense so that a budgeted contribution format income statement can be prepared for the next quarter. required: 1. using the high-low method, estimate a cost formula for shipping expe