IF ANYONE CAN FIND ME THE TEXTBOOK ANSWERS IT WOULD BE APPRECIATED! 7-4
APPLICATION PROBLEM
Finding and correcting errors in accounting records
Ervin Watkins has completed the April monthly work sheet for his business, Ever Clean. The work sheet
and general ledger accounts are given in the Working Papers. Mr. Watkins believes that he has made
one or more errors in preparing the work sheet. He asks you to help him verify the work sheet
1. Examine the work sheet and the general ledger accounts. Make a list of the errors you find.
2. Correct any errors you find in the general ledger accounts.
3. Prepare a corrected work sheet.
Instructions:
7-5
MASTERY PROBLEM
Completing a work sheet
On April 30 of the current year, EasyGlo has the following general ledger accounts and balances. The
in the Working Panere

5. profit maximization and shutting down in the short run suppose that the market for polos is a competitive market. the following graph shows the daily cost curves of a firm operating in this market. 0 2 4 6 8 10 12 14 16 18 20 50 45 40 35 30 25 20 15 10 5 0 price (dollars per polo) quantity (thousands of polos) mc atc avc for each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at that quantity, using the data from the previous graph to identify its total variable cost. assume that if the firm is indifferent between producing and shutting down, it will produce. (hint: you can select the purple points [diamond symbols] on the previous graph to see precise information on average variable cost.) price quantity total revenue fixed cost variable cost profit (dollars per polo) (polos) (dollars) (dollars) (dollars) (dollars) 12.50 135,000 27.50 135,000 45.00 135,000 if the firm shuts down, it must incur its fixed costs (fc) in the short run. in this case, the firm's fixed cost is $135,000 per day. in other words, if it shuts down, the firm would suffer losses of $135,000 per day until its fixed costs end (such as the expiration of a building lease). this firm's shutdown price—that is, the price below which it is optimal for the firm to shut down—is per polo.

Select all that apply. what do opponents of minimum wage believe are the results of minimum wage? increases personal income results in job shortages causes unemployment raises prices of goods

The advertisement demonstrates a popular way companies try to sell a product. what should consumers consider when it comes to the price of this product? it includes shipping and handling costs. it takes into account maintenance costs. it explains why this price is a good deal. it makes the full cost appears lower than it is.