The City of Waterville applied for a grant from the state government to build a pedestrian bridge over the river inside the city’s park. On May 1, the city was notified that it had been awarded a grant of up to $200,000 for the project. The state will provide re-imbursement for allowable expenditures. On May 5, the special revenue fund entered into a short-term loan with the General Fund for $200,000 so it could start bridge construction. During the year, the special revenue fund expended $165,000 for allowable bridge construction costs, for which it submitted documentation to the state. Re-imbursement was received from the state on December 13. Required:
For the special revenue fund, provide the appropriate journal entries, if any, that would be made for the following. (Assume the city has a fiscal year-end of December 31).
1. May 1, 2017, notification of grant approval.
2. May 5, 2017, loan from General Fund.
3. During FY 2017, bridge expenditures and submission of re-imbursement documentation.
4. December 13, 2017, receipt of the grant re-imbursement funds.
5. December 31, 2017, adjusting and closing entries.

Jameson manages a well-known cell phone company. this company has been voted as having the best cell-phone service. consumers appreciate the fact that they can call from almost anywhere in the world and the service still gets through. jameson knows that the company's product far surpasses that of the competition. one thing has been bothering him, though. in order to put so many resources into ensuring the best service, jameson has cut back on employees at the firm's customer call center. recently, consumers have begun complaining about long wait times when they call in with a problem or concern. although its cell phone service is still considered one of the best, customer satisfaction with the firm's customer service has plummeted. jameson does not understand why consumers are getting so upset. he believes the exceptional cell phone service more than makes up for long waiting periods and other issues with its customer service. "after all," he says, "they can't have it all. if i invest more in customer service, that means less investment on ensuring the quality of our product offering."refer to scenario. jameson has asked you, a marketing consultant, to give him advice. he cannot understand how a cell-phone company with the best product offering in the cell-phone service industry could get such low satisfaction ratings simply because the customer service is not up to par. you suggest that jameson has a narrowly defined view of the company's product offering. you tell jameson that successful marketers should define their products as what they

Which of the following has the largest impact on opportunity cost

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.