Mankiw – Chapter 13 SOLUTIONS TO TEXT PROBLEMS: Quick Quizzes 1. Farmer McDonald’s opportunity cost is $300‚ consisting of 10 hours of lessons at $20 an hour that he could have been earning plus $100 in seeds. His accountant would only count the explicit cost of the seeds ($100). If McDonald earns $200 from selling the crops‚ then McDonald earns a $100 accounting profit ($200 sales minus $100 cost of seeds) but makes an economic loss of $100 ($200 sales minus $300 opportunity cost). 2. Farmer
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Jenny Sawh Chapter 13 13-8‚ 13-11‚ 13-19 December 10‚ 2012 DR CR Salaries and Wages Expense $480‚ 000 Withholding Taxes Payable $80‚000 FICA Taxes Payable $28‚040 Union Dues Payable $9‚000 Cash [($480‚000 – $140‚000) X 7.65% = $26‚010] $362‚960 Payroll Tax Expense $29‚440 FICA Taxes Payable $140‚000 X 1.45% = $2‚030; $26‚010 + $2‚030 = $28‚040 $28‚040 FUTA Taxes Payable [($480‚000 – $410‚000) X .8%) $560 SUTA Taxes Payable [$70‚000 X (3.5% – 2.3%)]
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Chapter 13 Acids and Bases (Dr Chong Fai Kait) 1) A 7.0 103 M aqueous solution of Ca(OH) 2 at 25.0 °C has a pH of __________. A) 12.15 B) 1.85 C) 1.4 102 D) 7.1 1013 E) 11.85 Answer: A 2) The acid-dissociation constant at 25.0 °C for hypochlorous acid (HClO) is 3.0 108 . At equilibrium‚ the molarity of H 3 O in a 0.010 M solution of HClO is __________. A) 1.7 105 B) 0.010 C) 5.8 1010 D) 4.76 E) 2.00 3) Using the data in the table‚ which of the conjugate acids below is the weakest
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damage their credit history. However‚ banks and credit institutions actually see them as the first step towards repaying a loan. It boosts an individual’s credit rating as soon as one files for chapter 13 bankruptcy because it proves their commitment to repaying the loan and securing their property.
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Quiz Chapter 13: How Cells Obtain Energy From Food . The energy released by oxidizing glucose is saved in high energy bonds of: ATP and other activated carrier molecues 2. Sugars derived from food are broken down by: glycolysis‚ the citric acid cycle‚ and oxidative phosphorylation 3. Catabolism: a breakdown process in which enzymes degrade complex molecules into simpler ones 4. The digestion of polymeric food molecules into monomeric subunits occurs in: extracellular space (i.g. lumen of
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Case 13-4 Application of SFAC No. 13 1) On January 1‚ 2006‚ Lani Company entered into a noncancelable lease for a machine to be used in its manufacturing operations. The lease transfers ownership of the machine to Lani by the end of the lease term. The term of the lease is eight years. The minimum lease payment made by Lani on January 1‚ 2006‚ was one of eight equal annual payments. At the inception of the lease‚ the criteria established for classification as a capital lease by the lessee were
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Chapter 13 – Aggregate Planning Operations Management by R. Dan Reid & Nada R. Sanders 4th Edition © Wiley 2010 © Wiley 2010 1 Learning Objectives Explain business planning Explain sales and operations planning Identify different aggregate planning strategies & options for changing demand and/or capacity in aggregate plans Develop aggregate plans‚ calculate associated costs‚ and evaluate the plan in terms of operations‚ marketing‚ finance‚ and human resources Describe differences
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Questions for Review Chapter 13 1. What is the relationship between a firm’s total revenue‚ profit‚ and total cost? Each of these has an effect on the other‚ which will cause them to go up or down based on the output of the business. A firm aims to keep costs down‚ while increasing total revenue and profit. 2. Give an example of an opportunity cost that an accountant might not count as a cost. Why would the accountant ignore this cost? The money she would make working a full time job with
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Spread of Chinese Civilization: Japan Chapter Summary. The peoples on China’s borders naturally emulated their great neighbor. Japan borrowed heavily from China during the 5th and 6th centuries when it began forming its own civilization. To the north and west of China‚ nomadic peoples and Tibet also received influence. Vietnam and Korea were part of the Chinese sphere by the last centuries b.c.e. The agrarian societies of Japan‚ Korea‚ and Vietnam blended Chinese influences with their indigenous
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Chapter 13 Current Liabilities and Contingencies Part A: Current Liabilities * Liabilities and owners’ equity on the right-hand side of the equation represent the two basic sources of the assets on the left-hand side. * Characteristics of Liabilities 1. Are probable‚ future sacrifices of economic benefits. 2. Arise from present obligation (to transfer goods or provide services) to other entities. 3. Result from past transactions or events. * Current Liability * Obligations
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