Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2014, Garbas Goods and Zahra Enterprises.
Determine the missing amounts.
Garbas
GoodsZahra
Enterprises
Beginning of year:
Total assets$110,000$129,000
Total liabilities85,000$.wiley.com/edugen/art2/common/pixel.gif”>(c)
Total owners equity$.wiley.com/edugen/art2/common/pixel.gif”>(a)80,000
End of year:
Total assets160,000180,000
Total liabilities120,00050,000
Total owners equity40,000130,000
Changes during year in owners equity:
Additional investment$.wiley.com/edugen/art2/common/pixel.gif”>(b)25,000
Drawings29,000$.wiley.com/edugen/art2/common/pixel.gif”>(d)
Total revenues215,000100,000
Total expenses175,00060,000
Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2014, Garbas Goods and Zahra Enterprises. Determine the mis
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A monopolist operates at the minimum point of her ATC curve A) only in the short run. B) only in the long run. C) in both the short run and the long run. D) in neither the short run nor the long run. 10. Which of the following is characteristic of a monopoly? A) The absence of political power B) Close substitute products C) The ability to make an economic profit in the long run D) Operating at peak efficiency. (I will send the image) 11. This firm will charge a price of A). $8. B) $9.65. C) $10. D) $12. E) $16 12. Statement I. Only natural monopolies are legal in the United States. Statement II. Large firms generally operate at peak efficiency. A) Statement I is true and statement II is false. B) Statement II is true and statement I is false. C) Both statements are true. D) Both statements are false. 13. The nation's largest bank has assets over A) $2.5 billion. B) $25 billion. C) $250 billion. D) $800 billion. E) $1.8 trillion. 14. Which statement is true? 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