Information related to Harwick Co. is presented below. 1. On April 5, purchased merchandise on account from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point.

2. On April 6, paid freight costs of $900 on merchandise purchased from Botham.

3. On April 7, purchased equipment on account for $26,000.

4. On April 8, returned damaged merchandise to Botham Company and was granted a $3,000 credit for returned merchandise.

5. On April 15, paid the amount due to Botham Company in full.

Required:

Prepare the journal entries to record these transactions on the books of Harwick Co. under a perpetual inventory system.

No. Date Account Titles and Explanation Debit Credit

1.

2.

3.

4.

5.

Until recently, hamburgers at the city sports arena cost $4.70 each. the food concessionaire sold an average of 13 comma 000 hamburgers on game night. when the price was raised to $5.40, hamburger sales dropped off to an average of 6 comma 000 per night. (a) assuming a linear demand curve, find the price of a hamburger that will maximize the nightly hamburger revenue. (b) if the concessionaire had fixed costs of $1 comma 500 per night and the variable cost is $0.60 per hamburger, find the price of a hamburger that will maximize the nightly hamburger profit.

According to the video, the gross national product had declined from $104 billion in 1929 to about in 1933.

P8-4b dropping unfavorable division based on the following analysis of last year's operations of groves, inc., a financial vice president of the company believes that the firm's total net income could be increased by $160,000 if its design division were discontinued. (amounts are given in the thousands of dollars.) required provide answers for each of the following independent situations: a. assuming that total fixed costs and expenses would not be affected by discontinuing the design division, prepare an analysis showing why you agree or disagree with the vice president. b. assume that the discontinuance of the design division will enable the company to avoid 30% of the fixed portion of cost of services and 40% of the fixed operating expenses allocated to the design division. calculate the resulting effect on net income. c. assume that in addition to the cost avoidance in requirement (b), the capacity released by discontinuance of the design division can be used to provide 6,000 new services that would have a variable cost per service of $60 and would require additional fixed costs totaling $68,000. at what unit price must the new service be sold if groves is to increase its total net income by $180,000?